01 January 2018, Dubai — Saudi Arabia was set to raise local gasoline prices on Monday, state news agency SPA reported. The initiative, aimed at more efficient energy use, coincides with an ambitious reform plan to boost sources of revenue and wean the world’s top crude exporter away from oil. It said Octane 91 will …
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01 January 2018, Jerusalem — An oil pipeline company established decades ago by Israel and Iran, and a new Israeli company that is meant to replace it can continue to operate secretly, an Israeli parliamentary committee ruled on Sunday. The Eilat-Ashkelon Pipeline Co (EAPC) was a joint venture set up in 1968, when the two …
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Princewill Demian 01 January 2018, Sweetcrude, Abuja – Plans by the government to provide an alternate source of electricity supply for federal universities and hospitals across the country might not materialise, after all, going by indications from the Rural Electrification Agency, REA. At the budget hearing recently, the Managing Director of the agency, Mrs. Damilola Ogunbiyi, …
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01 January 2018, Sweetcrude, Lagos – The tanker market is geared for a transition period in 2018, as tonnage oversupply and oil price fluctuations are bound to keep adding pressure at freight rates. In a recent note, shipbroker Intermodal said that over the course of 2017, market fundamentals cast a shadow of uncertainty over 2018’s …
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01 January 2018, Sweetcrude, Abuja – The Nigeria Labour Congress, NLC, has said the protracted fuel crisis in the country was a reflection of “crisis of corporate governance in the petroleum sector.” A National Executive Council, NEC, member of the Congress, Comrade Issa Aremu, made the assertion stating also that the bane of the downstream …
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OpeOluwani Akintayo 01 January 2018, Sweetcrude, Lagos — The Independent Petroleum Marketers Association of Nigeria, IPMAN, has advised the Federal Government on how to end the current fuel scarcity in the country. The association’s National Operations Controller, Mr. Mike Osatuyi, said the government should either give marketers subsidy or a discounted forex rate. According to him, the …
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…Targets over 1mb daily production from 2018 OpeOluwani Akintayo 01 January 2018, Sweetcrude, Lagos — A subsidiary of Sahara Group, Asharami Energy, has declared 38.2 million barrels of oil reserve in its newly-released 2017 sustainability report. According to the company, one of its major goals in 2018, is to begin to raise its production from …
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