Oil and gas
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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…
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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…
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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 Germany, despite drastic drops in Russian deliveries, the government announced on Sunday. The country now expects to meet its October gas reserves target during September. “Despite the difficult circumstances (…) the reservoirs are…
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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…
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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)…
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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,…
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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…
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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.…
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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…
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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…
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