Groundbreaking for Ibom Deep Seaport, November 2018 – AKSG

Mkpoikana Udoma 01 October 2018, Sweetcrude, Port Harcourt — Akwa Ibom State Government has hinted that the ground-breaking for the commencement of the construction of Ibom Deep Seaport should be expected by the end of November 2018. More »

Barkindo makes case for OPEC countries on oil relevance

*Says oil demand to increase by 14. More »

Petrol tanker drivers, conductors defecate, urinate on hold up spots

*Breakout of e coli, diarrhea pandemic in Lagos imminent OpeOluwani Akintayo 30 September 2018, Sweetcrude, Lagos —Independent investigation has shown that petrol tanker drivers and their conductors defecate and urinate on the roads where their trucks are held up in Lagos traffic. More »

Iran to build crude oil storage facility at Gulf of Oman port: SHANA

30 September 2018, News Wires — A unit of the National Iranian Oil Co. More »

Saudi gains on oil price rally, state spending boost

01 October 2018, News Wires — Saudi shares rose 1. More »

U.S. oil drillers add fewest rigs in quarter since 2017 -Baker Hughes

30 September 2018, News Wires — U. More »

FERC appoints judge to oversee rate talks between shippers and Colonial

30 September 2018, News Wires — The U. More »

Saudi-led coalition foils Houthi attack on Jizan port – SPA

30 September 2018, News Wires — A Saudi-led military coalition fighting against Yemen’s Houthi movement foiled an attack by two explosives-laden remote controlled boats deployed by the Houthis against Saudi Arabia’s Jizan port, Saudi state news agency SPA reported on Sunday. More »

Benedict Peters named Forbes Oil & Gas Leader of the Year 2018

30 September 2018, Sweetcrude, New York, USA — International business leader and founder of Aiteo Group, Benedict Peters was awarded Africa’s Oil and Gas Leader of the Year at the Forbes Best of Africa Gala which held at Forbes Headquarters, New York City on September 27, 2018. More »

Nigerians paid 2.17% more for 5kg cooking gas in August

*Kerosene price increase by average 4. More »

Nigerian strike for minimum wage widens as more unions join

29 September 2018, Sweetcrude, Lagos/Abuja — A strike by Nigerian labor unions to demand a new minimum wage widened on the second day on Friday as more unions joined, shutting the port in the commercial capital, Lagos, as well as schools, banks, and offices in parts of the country. More »

Petrobras refineries operating at 85 percent, diesel market share up

29 September 2018, News Wires — Brazilian state oil company Petroleo Brasileiro SA is operating its refineries at a utilization rate of 85 percent and has gained market share in diesel after a subsidy program was instituted, an executive said on Thursday. More »

U.S. oil drillers add fewest rigs in quarter since 2017 – Baker Hughes

29 September 2018, Houston — U. More »

Norway’s finmin to give its view on oil stock investments in spring 2019

29 September 2018, News Wires — Norway’s finance ministry will give its view on whether the country’s sovereign wealth fund – the world’s largest – should keep investing in oil and gas stocks in spring 2019, it said on Friday. More »

Sakhalin-1 consortium to pay $230 mln to Rosneft in out-of-court deal – ONGC

29 September 2018, News Wires — Russia’s Sakhalin-1 consortium, led by ExxonMobil, has agreed to pay $230 million to Russian energy giant Rosneft as part of an out-of-court settlement, the managing director of consortium partner ONGC Videsh told Reuters on Friday. More »

Petrogal to invest up to $1 bln per year in Brazil -CEO

29 September 2018, News Wires — Petrogal, the Brazilian unit of Portugal’s Galp, plans to spend $800 million to $1 billion annually in the coming years in Brazil to develop its current oil and gas assets and boost its stake offshore, its chief executive officer said. More »

Mexico’s next president will honor existing oil contracts -official

29 September 2018, New City — Mexico’s president-elect, Andres Manuel Lopez Obrador, assured private energy executives in a closed-door meeting on Thursday their contracts will not be canceled if they meet existing terms, the head of the country’s main oil producers’ association said. More »

U.S. oil industry trade group urges Trump to drop E15 biofuel deal

29 September 2018, New York — The largest U. More »

Zambia hikes mining taxes in 2019 budget to rein in debt

29 September 2018, Lusaka — Zambia will introduce new mining duties and increase royalties to help bring down mounting debt, the finance minister said in a budget speech on Friday, as crowds outside protested about alleged government corruption. More »

Germany inches toward diesel fix, solution seen Monday: source

29 September 2018, News Wires — The German government is on track to find a solution for tackling pollution from diesel vehicles but there is no agreement yet, a government source said after Chancellor Angela Merkel chaired a meeting on Friday in Berlin. More »

Russia’s Sakhalin-1 current oil output at 250,000 bpd -ONGC exec

29 September 2018, New Delhi — Oil output at Russia’s sakhalin-1 project currently stands at about 250,000 barrels per day, India’s ONGC Videsh managing director said on Friday. More »

China’s Sinopec halves Iran oil loadings under U.S. pressure: sources

29 September 2018, News Wires — China’s Sinopec Corp is halving loadings of crude oil from Iran this month, as the state refiner comes under intense pressure from Washington to comply with a U. More »

Shell, Chevron bet big in last Brazil oil auction before elections

29 September 2018, News Wires — Royal Dutch Shell Plc and Chevron Corp on Friday led big bets by oil majors seeking to clinch key stakes in Brazil’s coveted offshore oil play, shrugging off concerns over presidential elections that have cast a pall of uncertainty over the industry. More »

GLOBAL LNG-Prices ease further on tepid demand, healthy supply

29 September 2018, London — Asian spot liquefied natural gas (LNG) prices have further receded this week from multi-year seasonal highs due to lacklustre demand from well-stocked Asian utilities and healthy supply. More »

N650bn debt: Oil marketers urge FG to hasten payment to salvage sector

OpeOluwani Akintayo 28 September 2018, Sweetcrude, Lagos — Oil marketers on Thursday appealed to the Federal Government to hasten payment of over N650 billion subsidy arrears owed them to save their assets from being taken over by banks. More »

Brent hits four-yr high as U.S. sanctions on Iran tighten supply

28 September 2018, News Wires — Oil prices rose more than 1 percent on Friday, with Brent climbing to a fresh four-year high, as U. More »

Court dismisses Dockworkers’ suit over appointment letters

Mkpoikana Udoma 28 September 2018, Sweetcrude, Port Harcourt — The National Industrial Court of Nigeria, NICN, sitting in Port Harcourt, has dismissed a suit filed by dock workers against Bua Ports and Terminal Operators Limited, over their inability to provide their permanent employment letters. More »

Wike urges communities to cooperate with investors for sustainable development

Mkpoikana Udoma 28 September 2018, Sweetcrude, Port Harcourt — Rivers State Governor, Nyesom Wike, has called on communities across the state to cooperate with willing investors to create employment opportunities for the people. More »

China’s CNOOC may divest some U.S. assets after portfolio review

28 September 2018, Beijing — China’s CNOOC Ltd is considering selling parts of its U. More »

Nigerian National Petroleum Corporation flags-off healthcare intervention project

Ike Amos 28 September 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation (NNPC), has commenced a major national healthcare intervention project designed to halt medical tourism to foreign destinations through the provision of state-of-the-art hospitals and diagnostic centres across the country. More »

Petrobras to resume building platforms no matter election outcome

28 September 2018, Rio De Janeiro — Brazil’s Petroleo Brasileiro SA will build its own oil platforms again from 2023, regardless of who wins the presidential election next month, an executive at the state-run oil company said. More »

Croatia extends bidding deadline again for Adriatic LNG terminal

28 September 2018, News Wires — Croatia has again extended a deadline for submitting binding bids for the use of a planned floating liquefied natural gas (LNG) terminal in the northern Adriatic. More »

OPEC daily basket crude price closes at $80.88 per barrel

28 September 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $80. More »

Exxon Brazil to focus on drilling and production: CEO

28 September 2018, Rio De Janeiro — Exxon Mobil Corp will focus on drilling and production in Brazil now that it has acquired lots of oil blocks in the country, the company’s chief executive officer in Brazil, Carla Lacerda, said on Thursday. More »

Pipeline deal brings export of Israeli gas to Egypt within sight

28 September 2018, News Wires — Companies operating in both Israel and Egypt will buy a 39 percent stake in the EMG pipeline to enable a landmark $15 billion natural gas export deal to begin next year, the partners said on Thursday. More »

Saudi Aramco to have more oil output capacity from two fields in fourth quarter: source

28 September 2018, Dubai — State oil giant Saudi Aramco will bring new crude output capacity of some 550,000 barrels per day (bpd) online in the fourth quarter from two fields – Khurais and Manifa – giving it the ability to boost production if there is demand, a source said. More »

India will continue to buy Iran’s oil: Iranian foreign minister

28 September 2018, New Delhi — India is committed to buying Iranian oil and continuing the two nations’ economic cooperation, the Iranian foreign minister said after a meeting with his Indian counterpart and ahead of U. More »

Brazil’s Petrobras to pay $853 million U.S. fine in Car Wash probe

28 September 2018, Sao Paulo — Petróleo Brasileiro SA will pay an $853. More »

PENGASSAN, NUPENG not part of labour strike, officers say

Sam Ikeotuonye, with agency reports 28 September 2018, Sweetcrude, Lagos — The general secretary of the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, Mr. More »

Again, govt puts up Yola Disco for sale

…As 12 firms jostle for Afam Power OpeOluwani Akintayo 28 September 2018, Sweetcrude, Lagos — After a failed attempt in the past at privatising the Yola Power Distribution Company, YPDC, the federal government has again put up the utility firm for sale. More »

Schneider Electric says world to need double electricity capacity by 2050

OpeOluwani Akintayo 28 September 2018, Sweetcrude, Lagos —Schneider Electric, SE, has said the world will be needing double of the electricity capacity it currently has by 2050 due to urbanisation, industrialisation and digitalisation. More »

Total leads Thursday’s trading at Nigerian Stock Exchange

27 September 2018, Sweetcrude, Lagos —Total lead Thursday’s trading activities on the floor of the Nigerian Stock Exchange for energy companies with 1. More »

Oil rises as investors fret over Iranian supply gaps

27 September 2018, News Wires — Oil edged higher on Thursday, driven by the prospect of a shortfall in global supply once U. More »

ExxonMobil Starts New Unit to Increase Ultra-Low Sulfur Fuels Production

27 September 2018, Houston, Texas — ExxonMobil said Wednesday that a new unit at its integrated Beaumont, Texas facility has started operations, increasing production of ultra-low sulfur fuels by about 45,000 barrels per day. More »

Equinor agrees subsea collaboration with TechnipFMC, Aker Solutions

27 September 2018, News Wires — Norwegian LNG player Equinor signed collaboration agreements with Aker Solutions and TechnipFMC for subsea equipment and services on the Norwegian continental shelf (NCS) and internationally. More »

South Africa’s Eskom to expand transmission network with $218m AfDB loan

*Loan to provide additional power evacuation paths to the network from the Kusile, Majuba, Drakensburg and Ingula power stations 27 September 27, 2018, Sweetcrude, Abidjan, Ivory Coast — The African Development Bank has approved a ZAR 2. More »

Participate in oil & gas activities, HOSTCON tasks women

Mkpoikana Udoma 27 September 2018, Sweetcrude, Port Harcourt — A group known as Host Communities of Nigeria, HOSTCON, has tasked women in the Niger Delta region to actively participate in oil and gas activities in the region. More »

Climate-related financial disclosure becoming more mainstream – G20 task force

27 September 2018, News Wires — Climate-related disclosure is becoming mainstream as more firms support and align their financial reporting to recommendations by a global task force though few disclose the financial impact on the company, a survey shows. More »

Oil workers may shut-down industry October 31 – PENGASSAN

Mkpoikana Udoma 27 September 2018, Sweetcrude, Port Harcourt — Another round of hardship awaits Nigerians, as oil workers in the country are ready to shut-down the petroleum industry on October 31, 2018, should Chevron Nigeria Limited go-ahead to disengaged their members under her employment after the end of their contract. More »

U.S. power producers’ coal consumption falls to 35-year low: Kemp

27 September 2018, News Wires — Despite political support from the White House, U. More »