Uganda: Pressure mounts to lower cost of Bujagali Power
30 September 2017, Kampala — Having dropped the initial plan of buying back Bujagali hydroelectric power dam, the Ugandan government is now...
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Mozambique moves closer to LNG development, but hurdles remain
30 September 2017, Maputo — Mozambique is moving closer to realizing its LNG development ambitions. Last month, the government signed contr...
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NPDC to raise output to 300,000 b/d by 2018
30 September 2017, Lagos — The main subsidiary of Nigeria’s state oil company said on Monday it planned to increase production from fields ...
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OPEC oil output edges higher in September as Iraq, Libya pump more
30 September 2017, London — OPEC oil output has risen this month by 50,000 barrels per day (b/d), a Reuters survey found, as Iraqi exports ...
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AfDB approves $200m for IDC to support industrialisation projects in Africa.
30 September 2017, Abidjan, Côte d’Ivoire — board of Directors of the African Development Bank Group (AfDB) has approved a private sector m...
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National grid suffers total system collapse
Michael James 30 September 2017, Sweetcrude, Lagos —Nigeria national grid suffered a total system collapse in the hours of Thursday, Septem...
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Two workers injured in Nigeria’s oil platform fire
“The fire incident is an operational mishap and has nothing to do with militants. So it is within the operational levels of the company and...
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FG, States, LGs share N637.7bn in September
Idris said the sum indicated a rise in the revenue shared by the three tiers of government of N169 billion for September compared to about ...
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Ogharafe oil field registered under UN CDM
Michael James 29 September 2017, Sweetcrude, Lagos — The gas utilisation project at the Ovade-Ogharafe oil field in Delta state has been su...
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ExxonMobil increases acreage position in Permian Basin
29 September 2017, Sweetcrude, Houston, Texas – US oil major, ExxonMobil Corporation has added 22,000 acres to its Permian Basin portfolio ...
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ConOil Plc’s facility in Niger Delta goes up in flames
OpeOluwani Akintayo 29 September 2017, Sweetcrude, Lagos —Con Oil’s facility in the Niger Delta has gone up in flames. According to informa...
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Bullish oil streak propels Brent to strongest third quarter in 13 years
29 September 2017, Amsterdam — Oil edged higher on Friday as tensions around Iraqi Kurdistan threatened the region’s crude supplies, helpin...
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Siemens signs MoU with Madagascar to accelerate power generation
Increase capacity by up to 300MW by 2019 through short, medium and long-term initiatives Partner with TSK to investigate options to improve...
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Challenging operating environment: SA mining industry sees turnaround in financial performance
29 September 2017, Sweetcrude, Johannesburg, South Africa — 2017 was another challenging year for South Africa’s mining industry in light o...
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Enel power plant seized in illegal waste investigation
29 September 2017, Sweetcrude, Lagos — An Italian judge has ordered the seizure of a power plant run by Italy’s biggest utility Enel in the...
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Two UK oil chiefs arraigned over $400m fraud in Nigeria
The pair and a Nigerian contact faced the charges formally on Wednesday alongside a civil damage claim in excess of $500m from Afren’s admi...
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Militants’ attacks in N’Delta to reach 60% in 2018- Analysts
OpeOluwani Akintayo 29 September 2017, Sweetcrude, Lagos – Foreign analysts have warned that militants’ attacks on oil facilities in the Ni...
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Chevron names Michael K. Wirth new Chairman/CEO
29 September 2017, Sweetcrude, Houston, Texas – Chevron Corporation announced, Wednesday, that its Board of Directors elected Michael K. Wi...
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Electricity: Over 3 million households metered as at August 2017 – NERC
The report noted that innovative options were being put in place by the commission to improve status of metering and customer concerns on e...
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Saudi Aramco to list 5% IPO in foreign country
…How it affects OPEC OpeOluwani Akintayo 29 September 2017, Sweetcrude, Lagos – Saudi Arabia will be the first Organisation of the Petroleu...
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Oil extends bull market as U.S. supply drops amid rising demand
*Crude inventories declined by 1.85 million barrels last week *Libyan production starting to climb again after disruptions 28 September 201...
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Libya faces renewed calls to join OPEC cut
*Producer is said to pump 950,000 b/d on Sharara field re-start *Rising Libyan supply complicates OPEC effort to drain oil glut 27 Septembe...
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Nigeria plans to sell $5.5bn of Eurobonds by year-end
*Nation to issue $2.5bn in October to fund 2017 budget *Remainder to be sold to replace Naira-denominated debt 28 September 2017, Lagos — N...
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Sahel-Saharan Bank tower for inauguration next Saturday
28 September 2017, Khartoum — The Minister of Finance and Economic Planning Mohamed Osman Al-Rikabi and the Minister of Finance of the Liby...
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U.S. crude stockpiles drop as refineries restart after Harvey – EIA
28 September 2017, New York — U.S. crude oil inventories fell unexpectedly last week as refineries hiked output due to restarts following H...
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U.S. fuel exports recover after Harvey, offering buyers respite
28 September 2017, London/Houston — Fuel exports from the U.S. Gulf Coast have surged as refineries recover from weeks of disruptions due t...
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Oil climbs as tension over Iraqi Kurdistan rises
28 September 2017, London — Oil prices rose on Thursday, spurred by rising tension around northern Iraq following the autonomous Kurdistan ...
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Nigeria’s oil industry to get Research and Development Council – NCDMB
He said that research and development (R&D) efforts by stakeholders needs to offer real value and relevance to the oil and gas industry...
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World’s crude in floating storage down by 40mb
OpeOluwani Akintayo 28 September 2017, Sweetcrude, Lagos — World’s crude in floating storage is down by an estimated 40 million barrels sin...
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Nigeria: MPC retains lending rate at 14% on improved macroeconomic stability
“The most compelling argument for a hold was to achieve more clarity in the evolution of key macro economy indicators, including budget imp...
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Oil to reach $60 by end of decade- Shell CEO
OpeOluwani Akintayo 28 September 2017, Sweetcrude, Lagos — Royal Dutch Shell Chief Executive Officer, Van Beurden, has said it will not be ...
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OPEC targets Asia-Pacific as crude market by 2040
OpeOluwani Akintayo 28 September 2017, Sweetcrude, Lagos — The Organisation of the petroleum Exporting Countries, OPEC, has said it will re...
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Nigeria’s excess crude earnings hit $22.1m in one day
The price increase is an additional benefit to Nigeria, which just secured the nod of OPEC for the extension of its exemption from crude oi...
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Saraki sets December date for passage of Petroleum Industry Bill
He noted that the Petroleum Industry Administration Bill, Petroleum Industry Fiscal Bill and Petroleum Host Community Bill had all gone thr...
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Federal allocation drops 28.3% in August – NBS
The figure is N184.38 billion less than the N652.23 billion disbursed to the three tiers of government in July 2017, representing a drop of...
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Brazilians protest against big oil and gas auction in Rio
*Around 180 activists bring citizens’ voices to the National Oil and Gas Agency: ‘No new fossil fuels!’ 27 September 2017, Sweetcrude, Lago...
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Stakeholders endorse SNEPCo’s Global Nigeria Forum
OpeOluwani Akintayo 27 September 2017, Sweetcrude, Lagos — Public and private sector players in the Nigerian oil and gas industry have desc...
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NNPC’s annual quiz competition gets WAEC’s approval
OpeOluwani Akintayo 27 September 2017, Sweetcrude, Abuja — The ongoing Nigerian National Petroleum Corporation, NNPC’s annual quiz has pass...
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Saudi Aramco to venture into non-Saudi crude oil trading
27 September 2017, Singapore — Saudi Aramco’s trading arm will start trading non-Saudi crude oil to mainly feed its international joint ven...
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Brent oil eases but remains in sight of 2015 highs
27 September 2017, London — Brent oil eased on Wednesday following a report of a possible increase in Nigerian exports, but an unexpected d...
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Siemens predicts a bright future for Ugandan oil & gas sector
27 September 2017, Sweetcrude, Kampala, Uganda — Oil and gas projects are increasingly complex and the need for an integrated solution is i...
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OPEC daily basket price stood at $56.43/b
27 September 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $56.43 a barrel on Tuesday, compared ...
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Strong growth in fuel demand accelerates oil market rebalancing
27 September 2017, Singapore — Strong oil demand growth in emerging economies led by China and India, but also from Europe, is drawing down...
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Revenue from solid minerals sector below 20%, says RMAFC
27 September 2017, Sweetcrude, Abuja – The Revenue Mobilisation Allocation and Fiscal Commission, RMAFC, says revenue from the solid minera...
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Petrobras in $6.22b debt mess, creditors agree to swap
OpeOluwani Akintayo 27 September 2017, Sweetcrude, Lagos — Brazil’s national oil company, Petrobras is currently in a $6.22 debt mess, Swee...
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Chevron’s 2018 investment in Shale oil to gulp $4b
OpeOluwani Akintayo with Agency report 26 September 2017, Sweetcrude, Lagos — Chevron will invest $4 billion in shale oil in 2018, Ryan Kro...
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OPEC predicts ‘slight increase’ in oil sector investments in 2018
…Reports ‘highest ever’ level of compliance with production cuts OpeOluwani Akintayo 27 September 2017, Sweetcrude, Lagos – The Organisatio...
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Infrastructure challenges prevent Nigeria from achieving 1.8mb/d production – Kachikwu
Oscarline Onwuemenyi 27 September 2017, Sweetcrude, Abuja – Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, says Nigeria’ crud...
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Power: Four years not enough to resolve 60-year rot – Fashola
Oscarline Onwuemenyi 27 September 2017, Sweetcrude, Abuja – Minister of Power, Works and Housing, Mr. Babatunde Fashola, has spoken of the ...
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Mkpoikana Udoma Port Harcourt - The Ijaw Youth Council, IYC worldwide has threatened to shut down the head office of the Niger Delta Develop... -
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