OpeOluwani Akintayo 03 July 2018, Sweetcrude, Abuja — Executive Secretary of the Nigerian Content Development and Monitoring Board, NCDMB, Engr. Simbi Wabote, has faulted the construction of 20,000 barrels per day, b/d, modular refineries currently prevalent across the country. He made his stand known at the ongoing 5-day 2018 Nigerian Oil and Gas conference in Abuja …
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02 July 2018, Sweetcrude, Lagos — Double 1, formerly known as Mobil Plc, kicked off the first week of July’s trading at the Nigerian Stock Exchange with a huge gain. Double 1 gained 16.9k in Monday’s trading trailed by Oando with 0.2k in the energy companies’ category. Forte Oil, Eterna and Japaul recorded losses. Top Gainers …
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02 July 2018, News Wires — Oil prices fell on Monday, with a Reuters survey showing Saudi Arabia has boosted supplies to a near-record 10.7 million barrels per day (bpd) in a sign the world’s top crude exporter wants to make up for disruptions elsewhere. Brent crude oil futures were at $78.52 per barrel at 0058 …
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02 July 2018, News Wires — Iran vowed Sunday to defeat US efforts to block its oil exports and warned rival producer Saudi Arabia it would never take Tehran’s “place” on the international oil market. “We will surely do something to thwart the US rallying cry that Iranian oil (exports) must be stemmed,” First Vice President …
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More »02 July 2018, News Wires — Saudi Arabia’s economy began to recover in the first quarter of 2018 after shrinking for the first time in eight years during 2017, official data showed on Sunday, and the recovery looks set to accelerate in coming months with a rise in oil production. Gross domestic product, adjusted for …
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02 July 2018, News Wires — Kuwait will raise oil output by 85,000 barrels per day (bpd), part of an agreement between OPEC and non-OPEC producers to increase production by one million bpd, Energy Minister Bakhit al-Rashidi told a local newspaper. “Kuwait will raise its oil production from tomorrow to 2.785 million barrels, a daily …
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01 July 2018, News Wires — The Indian cabinet has approved establishment of two strategic petroleum reserves (SPRs) with a total capacity of 6.5 million tonnes (mt), interim Finance Minister Piyush Goyal has said. A 4.4-mt SPR at Chandikhol in Odisha, and a 2.5-mt facility at Padur in Karnataka is on the cards. The country already …
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