SSE launches sale of North Sea gas fields in single package – sale document
London — British energy provider SSE has kicked off the process to sell its 140 million cubic feet per day portfolio of North Sea gas fields...
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France drops plans to build sodium-cooled nuclear reactor
Paris — France’s CEA nuclear agency has dropped plans to build a prototype sodium-cooled nuclear reactor, it said on Friday, after decades o...
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Contamination compensation for Belarus refinery not yet agreed -Belta
Moscow — Belarusian state energy company Belneftekhim said on Friday that Russia had partially compensated it for losses due to a major cont...
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NORDIC POWER-Forward prices rise on firmer coal and carbon rates
Newswire — Nordic forward prices gained on Friday, helped by higher coal and carbon rates, with lower water reserves lending further support...
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Med Crude-Urals diffs ease in Baltic on weaker margins
Moscow — Urals crude differentials eased again to dated Brent in northwest Europe on Friday as sellers struggled to place September cargoes ...
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U.S. oil drillers cut rigs for ninth month to least since Jan 2018 -Baker Hughes
Newswire — U.S. energy firms this week reduced the number of oil rigs operating, with the rig count declining for the ninth straight month t...
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Poland wins EU approval to help energy-intensive companies cut electricity bills
Brussels — Poland secured EU approval on Friday to launch a 417 million euro ($465 million) scheme to compensate energy-intensive companies ...
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Russian firm battles Mideast for Chinese petroleum gas market
Moscow — An independent Russian producer has made a foray into China’s market for liquefied petroleum gas (LPG), jostling with Middle Easter...
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IPMAN: DPR assures Rivers residents of adequate products supply
Mkpoikana Udoma Port Harcourt — The Department of Petroleum Resources, DPR, has assured residents of Rivers State of availability of petrole...
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Oil prices fall but set for big weekly gain as trade dispute rhetoric eases
London — Oil gave back some of its recent gains on Friday, but was still headed for the biggest weekly increase since early July, boosted by...
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Papua New Guinea opposition leader urges prime minister to back Total gas deal
Melbourne — Papua New Guinea’s opposition leader, Patrick Pruaitch, on Friday pressed the nation’s prime minister to back a gas deal with Fr...
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Aiteo boss proposes optimal gas utilisation to resolve power shortages
Lagos — Group Managing Director (GMD), Aiteo Eastern E & P Company Ltd, Victor Okoronkwo has reiterated that the nation’s power shortage...
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Total to consolidate on investments in Nigeria’s deepwater
Ike Amos Abuja — Total Exploration and Production Nigeria has announced plans to consolidate on its investments in the deepwater segment of ...
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Saudi Aramco sets Sept propane price at $350 a tonne
Dubai — Saudi Arabia’s state oil giant Aramco has set its September propane price at $350 a tonne, down from $370 a tonne in August, the com...
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TICAD7: Ramaphosa lauds Japan’s role in shaping African development
Tokyo — South African President Cyril Ramaphosa has welcomed Japan’s efforts to boost technology on the continent. “South Africa endorses th...
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China’s CNOOC H1 earnings rise 19% on stronger oil, gas sales
Singapore/Beijing — China’s national offshore producer CNOOC Ltd said on Thursday first-half profit rose nearly 19% from a year earlier, as ...
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Trump administration to relax methane limits at oil and gas operations
Washington — The Trump administration on Thursday will propose rolling back Obama-era limits on emissions of methane at oil and gas operatio...
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OPEC daily basket oil price closes at $60.24 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.24 a barrel on Thursday, compared with $60.16 the previous day, a...
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Brent oil holds above $60 as lower inventories boost WTI
London — Brent oil held above $60 a barrel on Thursday, withstanding pressure from concerns about economic growth, while a sharp fall in U.S...
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Sasol says U.S. ethane cracker production steps up
Johannesburg — South Africa’s Sasol said on Wednesday its U.S. ethane cracker plant was now producing enough ethylene for use, bringing it a...
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Chinese firm to build renewable power projects in Bangladesh – officia
Dhaka — Bangladesh has set up a $400 million joint venture with a Chinese company to build renewable energy projects to provide a total 500 ...
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OPEC daily basket oil price close at $60.16 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.16 a barrel on Wednesday, compared with $58.98 the previous day, ...
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U.S. crude stocks drop 10 mln barrels as imports slow – EIA
New York — U.S. crude oil inventories fell sharply last week to their lowest since October last year as imports slowed, while gasoline and d...
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Oil prices jump more than 2% on sharp drop in U.S. crude inventories
New York — Oil prices gained more than 2% on Wednesday after data showing a fall in U.S. crude stockpiles helped ease worries about weakenin...
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Oil Search says loading liquids at Gulf of Papua at reduced rate
Newswire — Australia-listed Oil Search said on Wednesday it is loading liquids at its facilities in the Gulf of Papua at a reduced rate af...
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Russia’s Lukoil Q2 net income rises 21% q/q on lower tax
Moscow — Russia’s No.2 oil producer Lukoil said on Wednesday its second-quarter net profit increased 21.4% from the previous three months to...
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French oil major Total signs asset transfer deals with Qatar Petroleum
talParis — French oil major Total (TOTF.PA) said it had signed deals to transfer some of its assets in Kenya, Guyana and Namibia to Qatar Pe...
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Oil rises as hopes grow for U.S.-China trade
crude oilNews wire — Oil prices rose on Tuesday after U.S. President Donald Trump predicted a trade deal with China after positive comments ...
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ExxonMobil to explore new carbon capture technology
Newswire — ExxonMobil and Mosaic Materials said they have entered into an agreement to explore the advancement of breakthrough technology th...
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Seven Energy finally forfeits assets to British Savanah Petroleum
*Get govt consents OpeOluwani Akintayo Lagos — Seven Energy will forfeit some of its assets to British Savannah Petroleum PLC. SweetcrudeRep...
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Kenya’s first crude oil export sparks demands over revenue sharing
Mombasa, Kenya — Kenya exported its first crude oil on Monday, amid pointed speeches by local leaders asking the government to stick to its ...
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China passes law allowing regions to set resource taxes
Shangai/Singapore — Chinese legislators approved a new law on Monday that will give local governments authority to tax as many as 164 differ...
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Russia’s Rosneft tenders marine fuel cargos in euros
Moscow — Top Russian oil producer Rosneft has put up marine fuel cargos for sale with the euro as the default currency, a tender document sh...
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BP, Chevron among approved bidders for Brazil October oil auction- ANP
Rio De Janeiro — BP PLC, Chevron Corp and China’s CNOOC are among 12 companies cleared to bid in an October exploration rights auction in Br...
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Oil rises on hopes of easing U.S.-China trade tension
London — Oil prices rose on Monday after the United States and China both suggested they could ease up in a trade war that has undermined th...
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President Macron & G7 leaders provide AFAWA initiative with $251m
*AFAWA aims to raise up to $5 billion for African women entrepreneurs and the African Development Bank will provide $1 billion financing BIA...
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Indonesia’s Pertamina considers exporting jet fuel due to high stocks
News wire — Indonesia state oil and gas company PT Pertamina is looking to possibly export its excess supply of jet fuel, finance director,...
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Column-Trump must choose between economy and trade war: Kemp
London — The White House is becoming increasingly volatile and erratic in its pronouncements about the economy and trade as the internal con...
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Glencore, Trafigura buy metal in Qingdao court auctions
Beijing — Commodity traders Glencore PLC and Trafigura have picked up a combined 70,479 tonnes of aluminum over the past week by winning onl...
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Trump administration aims to ease impact of biofuel waivers but won’t rescind them -sources
Washington — The Trump administration is expected to ease the impact of its refinery biofuel blending waivers on farmers without rescinding ...
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Libya’s state oil firm demands pay rise for workers
Benghazi — Libya’s state oil firm NOC has demanded a pay rise of 67% for its workers which it plans to discuss with the Tripoli government n...
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Asian refiner profits hammered by free-fall in fuel oil margins
Singapore — Asian refining margins have tumbled more than 50% since mid-July on anticipation of plummeting demand for high sulphur fuel oil ...
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Norway’s oil industry trims 2019 investment forecast
Oil and gas companies working in Norway have slightly cut their 2019 investment forecasts since May, a survey by the country’s statistics ag...
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Russia’s Rosneft says Q2 net profit up 48% q-o-
Moscow — Russia’s largest oil producer Rosneft said on Wednesday its net profit increased in the second quarter by 48.1% quarter-on-quarter ...
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India’s ONGC sells 3rd Oct-loading Sokol crude cargo at steady premium -sources
Singapore — Indian oil explorer ONGC Videsh has sold a cargo of Russian Sokol crude at a premium of about $5.75 a barrel to Dubai quotes via...
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UK GAS-Prices strengthen as gas field outage extended
London — British wholesale gas prices rose on Wednesday, despite an oversupplied market, as an unplanned outage at a gas field was extended....
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OPEC daily basket oil price closes at $60.66 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.66 a barrel on Wednesday, compared with $59.94 the previous day, ...
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Norway’s Equinor adds acreage offshore Argentina
Oslo — Equinor has taken a 50% stake in Argentina’s largest offshore block, CAN 100, as part of its collaboration with the South American co...
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OPEC daily basket oil price closes at $59.94 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $59.94 a barrel on Tuesday, compared with $59.46 the previous day, ac...
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U.S. oil firms challenge pipeline surcharge for steel tariff -filing
Two U.S. shale producers have challenged an energy pipeline operator’s proposed surcharge for the Trump administration’s 25% tariff More »
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Libya sends mobile petrol stations to conflict-hit west
Libyan state employee Akrm Jlaidi drives for ninety minutes to the suburbs of the capital Tripoli every week to fill his car at a mobile fue...
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Exxon sells two Oct-loading Sokol crude cargoes at steady premiums-sources
Singapore — Oil major Exxon Mobil Corp has sold two Sokol crude cargoes for October loading at premiums of about $5.65-$5.70 a barrel to Dub...
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Saudi Aramco asks banks to pitch for roles in planned IPO
Riyadh — Saudi Aramco has formally asked major banks to submit proposals for potential roles in its planned initial public offering, two sou...
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OPEC daily basket oil price closes at $59.56 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $59.56 a barrel on Monday, compared with $59.13 the previous Friday, ...
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Oil up after drone attack on Saudi field, but OPEC report caps gains
London — Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemen’s Houthi forces and as traders looked f...
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Equinor, Gazprom lose European gas market share as LNG surges
London — Europe’s two biggest suppliers of pipeline gas, Norway’s Equinor and Russia’s Gazprom, have lost market share for the first time in...
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Russia may give Transneft control of all oil intake terminals
Moscow — Russia may transfer the running of oil intake terminals to state-owned pipeline company Transneft, according to a government websit...
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Indian oil companies keen to invest in Khaleej Al Bahrain basin
New Delhi — Indian oil companies are keen to invest in Khaleej Al Bahrain basin, T.S. Tirumurti, who deals with economic relations at India’...
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Oil theft: Presidential Amnesty commends Army for stability in N’Delta
Mkpoikana Udoma Port Harcourt — The Presidential Amnesty Programme, PAP, says the Nigerian Army has contributed significantly to the peace a...
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Finland signs contracts for first parts of north-south power line
Oslo — Finland has signed contracts to construct the initial two sections of a 310 kilometre (192.6 miles) power line that will primarily he...
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NCDMB to support Notore develop industrial city in Rivers State
Mkpoikana Udoma Port Harcourt — The Nigerian Content Development and Monitoring Board, NCDMB, will support Notore Chemical Industries Plc, t...
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China’s Shenzhen Gas to launch new LNG terminal with cargo from ENI
Singapore — Chinese city-gas distributor Shenzhen Gas will launch next week in southern China its first fully-owned terminal to import lique...
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Community decry exploitative bills by Ikeja Electric
OpeOluwani Akintayo Lagos — Landlords and residents of Aboru in Iyana Ipaja area of Lagos State have cried out against the “exploitative bil...
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Continental Resources CEO urges OPEC, shale oil output cuts
OPEC and U.S. shale producers should reduce crude shipments into an oversupplied market, Continental Resources Chief Executive Harold Hamm M...
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Oyo discovery is a game-changer for Congo and the African content
*Congo has 2 billion barrels of proven oil reserves from about 20 fields being exploited and about 10 permits granted and waiting to be deve...
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OPEC daily basket oil price closes at $58.87 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $58.87 a barrel on Thursday, compared with $59.99 the previous day, a...
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Voice of Nigeria lauds NNPC on reputation turnaround
Abuja — The Voice of Nigeria, the mass communication apparatus dedicated to the dissemination of information from the country to the outside...
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Kenya set for first crude oil exports after striking ChemChina deal
Nairobi — Kenya is set to export its first crude oil after its government and a group led by explorer Tullow Oil picked trading company Chem...
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Harris Williams advises Franklin Energy Group on its sale to Abry Partners
Richmond, Virginia – Harris Williams, a global investment bank specializing in M&A advisory services, announces that it advised Franklin...
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Continental Resources CEO urges OPEC, shale oil output cuts
Denver — OPEC and U.S. shale producers should reduce crude shipments into an oversupplied market, Continental Resources Chief Executive Haro...
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India to test using LNG to power fishing boats
Singapore —India is set to test using liquefied natural gas (LNG) to power fishing boats ahead of stricter international rules on marine fue...
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U.S. crude stocks up unexpectedly in most recent week – EIA
News wire — U.S. crude stocks rose last week as refineries cut output, while gasoline stocks decreased and distillate inventories fell, the ...
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Indian Oil Corp seeks LNG cargo for late Aug-early Sept -sources
News Wire — Indian Oil Corp is seeking a liquefied natural gas (LNG) cargo for delivery over late August to early September, two industry so...
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Poor meteorology, maritime infrastructure undermines economy, security
*NPA, NIMET in MoU Vincent Toritseju Lagos — With growing security concerns across Nigeria, some maritime experts have revealed the malpract...
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Iran said on Tuesday that Britain might free its oil tanker Grace 1 soon in a maritime saga that has exacerbated frictions between Tehran an...
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Iran says Britain might free oil tanker soon – IRNA
Dubai — Iran said on Tuesday that Britain might free its oil tanker Grace 1 soon in a maritime saga that has exacerbated frictions between T...
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ONGC sells Sept-Oct Russian Sokol crude at $5.80 premium -sources
Singapore — Indian oil explorer ONGC Videsh has sold one cargo of Russian Sokol crude at a premium of $5.80 a barrel to Dubai quotes, two tr...
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EU sets countervailing duties on Indonesian biodiesel
Brussels — The European Commission on Tuesday levied countervailing duties on Indonesian biodiesel, saying the move would restore a level pl...
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UK Gas – Prices rise as imports from Norway dip
London — British wholesale gas prices rose on Tuesday morning as imports from Norway fell, creating undersupply. * Within-day gas price up 1...
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Oil prices edge down as traders weigh slowing demand against supply curbs
Singapore — Oil prices edged lower on Tuesday, offsetting narrow gains in the previous session, on the expectation major producers would con...
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Occidental finance chief pledges to quickly pare acquisition debt
Denver — Occidental Petroleum Corp expects to quickly reduce the $40 billion in debt it took on with its purchase of Anadarko Petroleum, the...
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Asia shares tumble as Hong Kong unrest, Argentine peso crash unnerve investors
Tokyo — Asian shares slumped on Tuesday as fears about a drawn out Sino-U.S. trade war, protests in Hong Kong and a crash in Argentina’s pes...
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W. Africa Crude – Indian tender helps mop up Nigerian overhang
London — Spot activity was slim on Monday but an Indian refiner took a greater than usual volume in its latest buy tender, helping to mop up...
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Tullow makes major oil discovery in Guyana
London — Tullow Oil announced on Monday a major oil discovery in the Orinduik block in Guyana, raising expectations it will move to develop ...
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Reliance to sell 20% stake in oil-to-chemicals arm to Saudi Aramco
Mumbai — India’s Reliance Industries is set to sell a 20% stake in its oil to chemicals business to Saudi Aramco, helping the Indian conglom...
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NNPC GMD, DPR Director, others to speak at NAEC Conference
Lagos — The Group Managing Director, GMD of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, will lead other teams of d...
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NNPC to publish crude oil contract list next week
OpeOluwani Akintayo Lagos — The Nigerian National Petroleum Corporation, NNPC says it would publish the full list of those holding the natio...
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Oil slumps 5% to 7-month low on trade tensions, surprise U.S. stock build
HOUSTON — Oil prices tumbled up to 5% on Wednesday to a fresh seven-month low, extending recent heavy losses following an unexpected build i...
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Conoil Plc lifts energy stocks trading on the NSE
Michael James Lagos — Wednesday trading activities on the floor of Nigerian Stock Exchange, NSE for energy companies saw Conoil Plc gained 1...
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Weekly SweetcrudeReports August 7, 2019
Weekly SweetcrudeReports August 7, 2019, NCDMB, MAN say oil service firms to benefit from free trade pact More »
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Enyo, Bosch strengthen ties for automotive parts, services
Michael James Lagos — Enyo Retail and Supply, and Bosch, a global supplier of technology and services, have deepened their relationship thro...
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Ford launches SHE-MOVES empowerment programme in Lagos
*SHE-MOVES (Strengthen Her: Mobilising Ventures for Social Innovation) is a sustainable mobility programme from Ford Motor Company and Ford ...
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OPEC daily basket oil price closes at $59.71 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $59.71 a barrel on Tuesday, compared with $60.54 the previous day, ac...
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NERC speaks on customer service standards, meter reading, others
OpeOluwani Akintayo Lagos — The Nigerian Electricity Regulatory Commission, NERC has broken silence on a number of issues beguiling the cust...
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NNPC blames HHK price increase on demand, supply pressure
OpeOluwani Akintayo Lagos — The Nigerian National Petroleum Corporation, NNPC on Sunday, blamed the increase in the price of household Keros...
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Rivers, NCDMB commission low voltage panels assembly plant
Mkpoikana Udoma Port Harcourt — Rivers State Governor, Nyesom Ezenwo Wike, at the weekend commissioned a Low Voltage Panels Assembly Plant, ...
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NLNG kicks off health insurance scheme for Bonny communities
Mkpoikana Udoma Port Harcourt — As part of its corporate social responsibilities, the Nigeria LNG Limited NLNG, has kicked off a health insu...
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Saudi energy minister says he discussed oil markets with Russian counterpart
Cairo — Saudi energy minister Khalid Al-Falih discussed oil markets with his Russian counterpart and stressed that Saudi Arabia would contin...
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Iran seizes foreign oil tanker smuggling fuel in Gulf
Dubai — Iranian forces seized a foreign oil tanker in the Gulf that was smuggling fuel to Arab states and has detained seven crewmen, Iran’s...
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Mexico Set To Tap $6.3B From Oil Fund To Plug Budget Shortfall
News Wire — Mexico may use up nearly half of the money in its rainy-day oil fund to plug a shortfall in budget revenues, after that fund dec...
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Court dismisses appeal to annul Ken Saro-Wiwa’s execution
Mkpoikana Udoma Port Harcourt — The Court of Appeal sitting in Port Harcourt has struck out an appeal seeking to annul the execution of reno...
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GE’s Baker Hughes beats estimates on international demand, LNG drilling
General Electric Co’s oilfield services arm, Baker Hughes, beat quarterly profit estimates on Wednesday, driven by higher LNG More »
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Indonesia is unlikely to begin natural gas imports in 2025 – minister
Indonesian Energy Minister Ignasius Jonan told reporters on Wednesday the country is unlikely to begin natural gas More »
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Vietnam will face severe power shortages from 2021 -ministry
Vietnam will contend with severe power shortages from 2021 as electricity demand outpaces the construction of new power plants in the Southe...
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Encana beats profit estimates on higher production
Canadian oil and gas producer Encana Corp edged past estimates for quarterly profit on Wednesday, helped by increased production in Anadarko...
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Oman signs gas exploration agreement with Italy’s Eni and BP Oman
Oman’s ministry of oil and gas has signed a gas exploration agreement with Italy’s Eni and BP Oman for concession block 77, the ministry sai...
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Indonesia’s oil and gas regulator urges quick resolution for Chevron’s IDD project
Indonesia’s oil and gas regulator SKK Migas said the authorities want to speed up talks with Chevron Corp over the Indonesia Deepwater Devel...
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Libya’s biggest oilfield shut, NOC declares force majeure
Libya’s Sharara oilfield, the country’s largest, was forced to shut down after a valve on the pipeline linking it to the Zawiya oil terminal...
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OPEC daily basket oil price closes at $65.53 per barrel
Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $65.53 a barrel on Wednesday, compared with $64.62 the previous day, ...
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Lagos - Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November ... -
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