Ecuador’s NOC Declares Force Majeure Amid Indigenous Protests

The indigenous Kichwa community’s protests have prompted Ecuador’s state-run oil company, Petroecuador, to declare force majeure on three additional oil blocks, just days after taking the same action for another block. On Monday, the production from the three blocks, which were jointly producing approximately 142,000 barrels of oil equivalent, dropped to about 122,500. Despite accusations […]Read More

Soaring Gas Prices Dampen Yuletide Despite Tax Cuts, Expert Explains

Despite the Federal Government’s initiative to lower the price of Liquified Petroleum Gas (LPG), commonly known as cooking gas, prices have continued to rise even during the festive season. Economist Ayo Anthony explained to the News Agency of Nigeria (NAN) in Abuja on Sunday that the impact of government policies on the economy takes time. […]Read More

Russia To Cut Oil Exports From Sea Ports Next Month

Russia is set to reduce its oil exports from seaports in the coming month by an estimated 100,000 to 200,000 barrels per day compared to December levels, as indicated by industry insiders familiar with Russia’s export strategies. According to anonymous sources cited by Reuters, the decision to scale back is attributed to increased throughput at […]Read More

NAOC JV Delivers Medical Equipment To Rivers,Bayelsa,Delta,Imo States

The Nigerian Agip Oil Company (NAOC) on behalf of NAOC Joint Venture has donated medical equipment to tertiary health institutions and hospitals in its four states of operations in Niger Delta, Nigeria. The commissioning and handover ceremonies were held recently during which the equipment were given to the medical facilities located in Rivers, Bayelsa, Delta […]Read More

Gazprom and Belarus Discuss Gas Cooperation

Alexey Miller, Chairman of the Gazprom Management Committee, and Dmitry Krutoy, Ambassador Extraordinary and Plenipotentiary of the Republic of Belarus to the Russian Federation, have met today to discuss cooperation in the gas industry. The two sides noted that Gazprom is a reliable supplier of Russian gas to Belarusian consumers. Gazprom Transgaz Belarus, a wholly-owned […]Read More

Nigeria and Morocco to Start Construction of Gas Pipeline in

Nigeria’s Minister of State for Petroleum Resources (Gas) Ekperikpe Ekpo has announced that the Nigeria-Morocco Gas Pipeline project is expected to begin construction in 2024. The ambitious project, which aims to connect Nigeria’s vast gas reserves to the European market, is a significant step towards boosting Africa’s energy security and economic development. Ekpo made the […]Read More

Turkey Secures Three-year Extension of LNG Supply with Algeria

In a move to secure its energy supply, Turkey has extended its existing liquefied natural gas (LNG) contract with Algeria for three years. The deal, finalized during Turkish President Tayyip Erdogan’s official visit to Algiers, ensures Turkey’s continued access to 4.4 billion cubic meters of LNG annually from its Algerian partner, Sonatrach. Under the deal […]Read More

Oil Prices Tumble by 4% as OPEC+ Meeting Postponed

In a sudden turn of events, oil prices experienced a sharp decline of 4 percent on Wednesday following OPEC’s official confirmation that the upcoming OPEC+ meeting, initially scheduled for this weekend, has been pushed back to November 30. The U.S. benchmark, WTI Crude, suffered a significant drop of 4.37 percent, falling below $75 a barrel […]Read More

Nigeria’s $2.8bn AKK Gas Pipeline Nears Completion, Set for December

The Nigerian National Petroleum Company (NNPC) Limited has announced that the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project will be inaugurated in December 2024. The pipeline, which is being constructed by Oilserve Limited, is expected to play a major role in boosting Nigeria’s energy supply and reducing its reliance on fossil fuels. Oritsemiyiwa Eyesan, Executive […]Read More

Nigeria’s Crude Theft Rampant with 131 Incidents in a Week

Nigeria has reported 131 incidents of crude oil theft within a week, as disclosed by the Nigerian National Petroleum Company (NNPC) Limited through its official Twitter account on Tuesday, November 14. The NNPC report outlined various infractions during this period, including 24 illegal connections, 43 illegal refineries, 17 pipeline vandalisms, 23 vessels AIS infractions, 5 […]Read More

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