EFCC to begin repatriation of $200bn loot stashed in Dubai

The source added that, “The signing of the agreements between Nigeria and the UAE by President Muhammadu Buhari last week has opened a robust vista which will hasten our identification and attachment of the suspicious assets. More »

Angola oil minister says nation needs crude to rebound to $60

01 September 2017, News Wire — Angola’s Petroleum Minister Jose Maria Botelho de Vasconcelos said it’s essential for the southern African nation’s economy that oil prices rebound to $60/bbl this year. “That would be extremely important,” Botelho de Vasconcelos said Monday in an interview in the country’s capital Luanda. “We’ve been getting signs from the […] More »

Duke Energy kills nuclear plant, plans $6 billion in solar, battery investment

01 September 2017, News Wire — Duke Energy Florida has announced a settlement with the state’s public service commission (PSC) to cease plans to build a nuclear plant in western Florida. The utility instead intends to invest $6 billion in solar panels, grid-tied batteries, grid modernization projects, and electric vehicle charging areas. The new plan […] More »

Traders scramble to avert fuel shortages in U.S. and Mexico

01 September 2017, News Wire — The crippling of the U.S. Gulf Coast refining hub by Tropical Storm Harvey roiled global oil markets on Thursday as traders scrambled to buy gasoline and diesel from distant markets to avert supply shortages in the United States, Mexico, and Brazil. A slew of gasoline tankers has been booked […] More »

U.S. halts LPG shipments to Asia amid storm havoc; buyers hold back

01 September 2017, News Wire — Shipments of liquefied petroleum gas (LPG) from the United States have been held up by the havoc wrought by tropical storm Harvey since last Friday, but Asian buyers are betting the situation will improve before supplies are critically squeezed. At least 300,000 tonnes in LPG shipments to Asia have […] More »

China, Russia against more sanctions on N. Korea after latest missile launch

01 September 2017, News Wire — China and Russia remain opposed to tougher sanctions on North Korea after the U.N. Security Council (UNSC) approved a statement to condemn the North’s recent launch of an intermediate-range ballistic missile over Japan, making it uncertain whether additional sanctions such as an oil embargo sought by Japan and the […] More »

China cuts non-residential natural gas price

01 September 2017, News Wire — China’s top economic planner will cut the price of natural gas for non-residential users to ease the burden on downstream industry players. From Friday, the benchmark price at urban natural gas stations for nonresidential use will be cut by 100 yuan (about 15.12 U.S. dollars) per thousand cubic meters, […] More »