Oil, Gas Sector Gain As NMDPRA Releases 6 New Regulations

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has published six gazetted regulations to encourage investment and economic growth in the petroleum industry’s midstream and downstream sectors, as well as to increase revenue generation. The laws, which were unveiled in Abuja yesterday, would foster long-term growth in the mid-and downstream sectors. The Midstream and […]Read More

Angola LNG Operating at Reduced Rates, Tenders Withdrawn, say Sources

Angola LNG, the country’s sole LNG project, recently canceled tenders owing to production concerns at its facility, trading sources told Reuters on Tuesday. According to the sources, the business has canceled two sale tenders scheduled to close on March 22 and 27 for April cargoes due to plant difficulties. “The plant experienced a pressure surge […]Read More

Nigeria’s LNG Exports Drop Again in Two Months

Nigeria is seeing a further decline in liquefied natural gas (LNG) exports, the latest monthly gas report from the Forum of Gas Exporting Countries (GECF). According to the data collected, Nigerian LNG exports fell by 210,000 tonnes in February 2023, a significant decrease from the previous year. The Forum said that Africa’s largest economy’s LNG […]Read More

NCDMB to Host 4th Nigerian Oil, Gas Opportunity Fair

The Nigerian Content Development and Monitoring Board (NCDMB) has announced plans to organize the fourth edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) with the theme “The oil and gas industry- catalyst and fuel for the industrialisation of Nigeria.” After being held virtually in May 2021 in a bid to curtail the spread […]Read More

Jean-Marc Cordier,  Renowned Oil Trader, Joins NNPC Ltd

Jean-Marc Cordier,  former Vice President of  Abu Dhabi National Oil Company (ADNOC), has joined the services of  Nigerian National Petroleum Company (NNPC) Limited to launch the petroleum trading division, NNPC Trading Ltd. An official statement from the NNPC said Cordier’s appointment continues the company’s continued repositioning toward better growth, better results and better service delivery. […]Read More

Shell Meets Climate Targets, Reduces Emissions by 30% in 2022

Shell plc has announced a 30 percent carbon emissions reduction from its operations in 2022, thereby meeting the projected climate targets of the firm as part of its energy transition strategy for the year. According to Shell, the Energy Transition Progress Report 2022 will be put to shareholders for an advisory vote at Shell’s Annual […]Read More

Global Crude Oil Production Fell to a 7-Month Low in

Global crude oil production fell for a third consecutive month in January, by 365,000 barrels per day (bpd) to a seven-month low, driven by declines in Canada, Iraq, Russia, and Bahrain, according to the latest data from the Joint Organizations Data Initiative. According to the report, Russian crude production declined by 47 kbpd in January […]Read More

Ghana Removes Fuel Subsidy After 30 Years

The Ghana National Petroleum Authority has announced the removal of the country’s fuel subsidy after 30 years regulating the product. “Removing the subsidy is part of the country’s regulatory measures to ensure downstream sector stability,” said Abdul Hamid, NPA’s Chief Executive Officer, said this during a presentation at the ongoing Africa Refiners and Distributors Week […]Read More

Eroton Denies NNPC’s OML 18 operatorship claims

In regards to the ownership of Oil Mining Lease (OML) 18 in Port Harcourt, Rivers State, Eroton Exploration and Production Company Ltd has denied allegations made by the Nigeria National Petroleum Corporation (NNPC) Limited last week. According to an official statement from Eroton, the manner the NNPC and Sahara Field Production Limited (formerly known as […]Read More

Growth in Chinese oil demand outweighs OECD weakness, says OPEC

Opec has raised its estimate for China’s oil demand growth in 2023, outpacing the Organisation for Economic Co-operation and Development’s (OECD) much weaker growth outlook. According to Opec’s latest Monthly Oil Market Report (MOMR), the global oil demand growth forecast for 2023 is unchanged at 2.3 million barrels per day (mbpd), with China’s growth revised higher […]Read More