As the federal government under President Bola Ahmed Tinubu brace up to achieve the December deadline to get its refineries working, data from the World Energy 2023 report showed that the country’s crude oil refining output dropped by 92 per cent in 10 years. The report showed that output from the nation’s four refineries fell … Continue reading Nigeria’s local refineries capacity dropped by 92 per cent in 10 years – Report
Aliko Dangote has said that the Dangote Refinery has secured a licence to refine more than 300,000 barrels of Nigerian crude per day and will begin to process petrol soon. Dangote said this in an interview on Saturday in Riyadh on the sidelines of the Saudi-Nigeria business roundtable. “We don’t want to start our refinery … Continue reading Dangote to refine more than 300,000 barrels of crude daily
Oil marketers will soon resume importation of Premium Motor Spirit (PMS), popularly known as petrol into Nigeria as the Federal government moves to end the Nigerian National Petroleum Company Limited (NNPCL)’s monopoly of importation. This sequel to a meeting the marketers: Depots and Petroleum Products Marketers Association of Nigeria (DAPPMAN) and Major Marketers Association of … Continue reading Oil Marketers in Nigeria to Resume Fuel Importation
An oil and gas expert has disclosed that subsidy regime, opaque method of distribution, insecurity, oil theft and point of distribution challenges are the reasons for the lingering fuel shortage in Nigeria. Gbenga Adeoye, an oil and gas expert who doubles as a chartered accountant, said this in a ChannelsTV interview monitored by MEZIESBLOG on … Continue reading Oil and gas expert reveals cause of fuel scarcity in Nigeria
Gazprom claims it can't fix a leak in Nord Stream 1, BUT its Western service partner disagrees. Russia has scrapped a Saturday deadline to resume flows via a major gas supply route to Germany, deepening Europe's difficulties in securing winter fuel, after saying it had found faults in the Nord Stream 1 pipeline during maintenance. Nord … Continue reading Russia blames the West for Nord Stream 1 problems
FILE: landfall facility of the Nord Stream 1 Baltic Sea pipeline and the transfer station of the OPAL gas pipeline, in Lubmin, Germany, July 2022Markus Schreiber/Copyright 2022 The Associated Press. All rights reserved Germany's gas reserves are at 80% and are on track to meet its 85% target Gas reserves are filling up "faster than expected" in … Continue reading Germany to achieve gas storage target in September
July figures show that Russia was China's main oil supplier for the third month in a row. Chinese refiners purchased Russian oil, while cutting shipments from Angola and Brazil. China purchased 7.15 million tonnes of Russian oil, an increase of 7.6 percent from one year ago, according to statistics from the Chinese General Administration of … Continue reading Russia-Ukraine War: China strengthens oil and gas agreement with Moscow
The House of Representatives’ Ad Hoc Committee to Investigate the Petroleum Products Subsidy Regime from 2013 to 2021 has said it does not know the profile of 23 oil and gas companies trading in Nigeria. The panel is investigating payments made by the Federal Government through the Nigerian National Petroleum Corporation (now Nigerian National Petroleum Company Limited) … Continue reading CORRUPTION: Reps in subsidy probe declare 23 oil companies ‘unknown’
The Secretary-General of the Organization of Petroleum Exporting Countries has died, Nigerian authorities and the oil cartel announced Wednesday. Only hours before his death, he'd met with Nigeria's president and spoken in defense of the energy industry amid increasing climate change pressure. Mohammad Barkindo, 63, died late Tuesday in Abuja, a spokesman for Nigeria’s petroleum … Continue reading OPEC Secretary-General dies in Nigeria, just weeks before end of tenure
What is the link between fossil fuels and climate change? When fossil fuels are burned, they release large amounts of carbon dioxide, a greenhouse gas, into the air. Greenhouse gases trap heat in our atmosphere, causing global warming. Already the average global temperature has increased by 1C. Warming above 1.5°C risks further sea level rise, extreme weather, … Continue reading Facts you probably don’t know about fossil fuels and climate change
Canada will increase oil and gas exports by the equivalent of 300,000 barrels a day to help nations that are trying to shift away from Russian supplies, the country’s resources minister said. Energy producers can raise shipments of crude by 200,000 barrels a day and natural gas by the equivalent of 100,000 by year-end by … Continue reading Canada to boost oil exports amid increasing sanctions against Russia
According to the Shan Human Rights Foundation (SHRF), the junta recently planted landmines across oil and gas pipelines passing through Hsipaw Township in northern Shan State to China. According to the rights group, an unconfirmed number of landmines have been planted near a pumping station in forested areas on both sides of the Mandalay-Lashio roadway. … Continue reading ARMY DEFENDS DECISION TO LAY LANDMINES AROUND OIL AND GAS PIPELINES
Climate change proposals in the Democrats' spending bill may include taxes on the oil and gas industries and other measures that could drive heating costs up for everyone as winter approaches — and cost tens of thousands of jobs — Rep. John Joyce said on Wednesday. "What we're seeing is a tragedy," the Pennsylvania Republican said on … Continue reading Planned energy taxes in the US mark ‘tragedy’ for industry
Whenever an investor approaches a new industry, it is good to know what the risks are that a company in that sector must face to be successful. General risks apply to every stock, such as management risk, but there are also more concentrated risks that affect that specific industry. In this article, we'll look at the … Continue reading Political risk faced by oil and gas companies
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