August 22, 2025 Crude oil prices extended their Thursday gains earlier today, set for a weekly rise as the prospect of peace in the Ukraine dimmed amid seemingly incompatible demands from the warring parties. At the time of writing, Brent crude was trading at $67.63 per barrel, with West Texas Intermediate at $63.51 per barrel, both slightly down from […]Read More
President Bola Tinubu has commissioned a 40,000-cubic-metre Liquefied Petroleum Gas (LPG) vessel built in Ulsan, South Korea, expanding WAGL Energy Limited’s fleet capacity to over 160,000 cubic metres; the company is a joint venture between NNPC Limited and Sahara Group. President Bola Ahmed Tinubu says Nigeria is poised to deliver clean and sustainable energy solutions not […]Read More
.Advise govt against inconsistency in policy changes The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has raised concern over what it described as persistent unsafe practices in oil installations, cautioning that operators that are avoiding the right process would put the lives of Nigerian workers in danger. President of PENGASSAN, Festus Osifo […]Read More
Rainoil Ltd. has received ‘MT Princess Oge’, a 45,000-metric-ton oil product tanker, on her maiden voyage into Nigerian waters. The development marks a significant step in strengthening petroleum product distribution across the country. Dr Gabriel Ogbechie, Group Managing Director of Rainoil Ltd., said the Japan-built vessel, with a deadweight tonnage of 45,996MT, successfully discharged 20,000MT […]Read More
Lekoil Nigeria Limited, a leading indigenous oil and gas exploration and production company, has been honoured for its commitment towards empowering the next generation of Nigerians at the 2025 Enactus Nigeria National Competition held in Lagos. The honour was bestowed on the company in recognition of its support for such initiative designed to mould tertiary […]Read More
August 20, 2025 The Chinese government is planning to reduce the number of oil refiners and petrochemicals producers in the country in a bid to solve the industry’s problem with overcapacity. According to a Bloomberg report, the authorities will shut down some smaller refineries and upgrade facilities that have become outdated. The latter constitutes some 40% […]Read More
August 19, 2025 India’s Oil and Natural Gas Corporation (ONGC) has begun a campaign to boost oil and gas production through well optimization and accelerating the start of production at recently made discoveries, the company has said, as quoted by Fortune India.India’s India’s ONGC produces some 70% of India’s crude oil and 84% of its natural gas. […]Read More
August 19, 2025 Crude oil prices declined today after the end of the Trump-Zelensky talks on Monday, in anticipation of trilateral talks that could result in a peace deal. That would likely also result in the lifting of sanctions on Russian crude, making more of its available on global markets. At the time of writing, Brent […]Read More
The planned expansion of Dangote Petroleum Refinery by 7.7 per cent to 700,000 barrels per day, bpd, from the current 650,000 bpd, would further increase its dominance of the African market while reducing the market shares of foreign refineries. Dangote Refinery to reduce Market shares of foreign refiners by expansion from 650,000bpd to 700,000bpd However, […]Read More
August 18, 2025 Indian Oil Corp., the largest refiner in the country, is set to launch its first sustainable aviation fuel production facility by the end of the year. Production capacity will be 35,000 tons annually, with the feedstocks coming from hotel chains, restaurants, and other large-scale users of cooking oil. The plant’s projected capacity […]Read More
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