Tesla boom lifts Norway’s electric car sales to record market share

Oslo — Almost 60 percent of all new cars sold in Norway in March were fully electric, the Norwegian Road Federation (NRF) said on Monday, a global record as the country seeks to end fossil-fueled vehicles sales by 2025. Exempting battery engines from taxes imposed on diesel and petrol cars has upended Norway’s auto market, … More »

NCDMB, stakeholders finalise Nigerian Content ministerial regulations

OpeOluwani Akintayo Lagos — The Nigerian Content Development and Monitoring Board, NCDMB has held the final phase of engagements with oil and gas industry stakeholders on the draft Nigerian Content ministerial regulations. The Ministerial Regulations covers Research & Development, R & D; Training, Capacity Development; Growth of Indigenous Capacity; Nigerian Oil and Gas Industry Enforcement … More »

OPEC daily basket oil price closes at $67.23 per barrel

Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $67.23 a barrel on Friday, compared with $66.38 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi … More »

Italy will contribute 35% of Europe’s underground gas storage by 2023

Lagos — Italy is expected to add around 249 billion cubic feet (bcf) of underground gas storage capacity between 2019 and 2023, from 14 planned and announced underground gas storage sites, according to GlobalData a leading data and analytics company. The company’s latest report: ‘Underground Gas Storage Industry Outlook in Europe to 2023 – Capacity … More »

China will spearhead global planned liquids storage capacity in 2023

Lagos — China is expected to be the major contributor to the growth of the global planned liquids storage industry between 2019 and 2023, according to GlobalData, a leading data, and analytics company. The company’s report, ‘Global Planned Liquids Storage Industry Outlook to 2023 – Capacity and Capital Expenditure Outlook with Details of All Planned … More »

Ogoni demands state creation as precondition for oil exploration

Mkpoikana Udoma Port Harcourt — The people of Ogoni under the aegis of the Movement for the Survival of the Ogoni People, MOSOP, have called for the creation of Bori State as the primary demand for the negotiation of oil resumption in Ogoniland. This was the resolution reached at its 2019 general congress held at the … More »

Lekoil will take action to preserve 23% interest in OPL 310 – CEO

Lagos — The Chief Executive Officer of Lekoil, Lekan Akinyanmi, has said the company “will take all necessary actions” to preserve its right to 23 percent interest in Oil Prospecting Licence, OPL, 310. He disclosed this in reaction to the recent Federal High Court ruling that the company’s acquisition of additional interest in OPL 310 … More »