The $7.6 billion train-7 project is set to commence in earnest as the Nigerian Content Development and Monitoring Board, NCDMB, and the Nigerian Liquefied Natural Gas Limited, NLNG have held the kick-off meeting for the engineering, procurement and construction components of the project. The meeting which was held virtually, provided the opportunity for NCDMB to …read more →
ENERGY
Saudi Aramco Cuts Crude Oil Shipments Loading for July
Saudi Arabia’s oil giant Aramco has cut the crude oil shipments loading in July to at least five of its customers in Asia, Reuters reported on Monday, quoting sources familiar with the plans. The move from OPEC’s top producer and the world’s largest oil exporter comes after Saudi Arabia hiked its official selling prices (OSPs) for …read more →
NNPC Produces 218.37 bn Cubic Feet of Natural Gas in March
The Nigerian National Petroleum Corporation (NNPC) has said that 218.37billion Cubic Feet (BCF) of natural gas was produced in March 2020, translating to an average daily production of 7493.65Million Standard Cubic Feet per Day (mmscfd). This was contained in NNPC Monthly Financial and Operations Report for March, 2020, according to a release by the corporation’s …read more →
Hydrogen Fuel Economy Is Finally Going Mainstream
Hydrogen power has been on the market for decades but has never really been able to break the glass ceiling of mass-market appeal, mainly due to a host of technical and cost issues. Indeed, battery power appears to be winning the race to replace the internal combustion engine (ICE) more than any other alternative fuel type. …read more →
The Oil & Gas Sector Could Already be in Terminal Decline
The fossil fuel industry has faced serious headwinds for several years, but the rise of renewables combined with the fall in consumption as a consequence of the global corona crisis is pushing it over the edge and into “terminal decline”. Although global coal consumption continues to grow slowly, its use has peaked in developed regions. According …read more →
$2.8 BILLION AKK PIPELINE PROJECT: BUHARI STRIKES AGAIN! BY FEMI ADESINA
Something good is already happening. Something marvelous is in store, as Federal Government kickstarts the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) National Gas Pipeline Project next Tuesday. It’s another humongous signature milestone by President Muhammadu Buhari, which will leave his footprints inexorably on the sands of time. Roads, Bridges, Rail, Airports, Social Investment and many others. Buhari …read more →
Egypt Wants UN to Avert Unilateral Fill of Dam by Ethiopia
The Grand Ethiopian Renaissance Dam is seen as it undergoes construction work on the river Nile in Guba Woreda, Benishangul Gumuz Region, Ethiopia. Egypt wants the United Nations Security Council to “undertake its responsibilities” and prevent Ethiopia from starting to fill its massive, newly built hydroelectric dam on the Blue Nile next month without an …read more →
Oil Prices Will Hit $50 Before the End of the Year
Despite fears of a second wave of COVID-19, oil markets rebounded last week, showing signs of improving fundamentals as global supplies continue to tighten. On Friday, Brent closed at $42.19, up by 8.20 percent w/w, while WTI closed at $39.75, up by 9.03 percent w/w. Furthermore, the 1-2 month Brent spread flipped into backwardation for the first …read more →
DISCOs Seek FG’s Intervention on Import Duty for Meters
The Electricity Distribution Companies (DISCOs) have urged the Federal Government to intervene in the heavy import duties they used to pay for imported meters. They said that such an intervention would help to mitigate delays they usually encountered when clearing meters at the ports in a statement signed by Mr Sunday Oduntan on Friday in …read more →
India, China top in Asia’s New Trunk Pipeline Length Additions by 2024
India is expected to lead Asia’s oil and gas new trunk/pipeline length additions, contributing around 59% of Asia’s planned and announced pipeline length additions between 2020 and 2024, says GlobalData, a leading data and analytics company. In a report titled, ‘Global Length and Capital Expenditure Outlook for Oil and Gas Pipelines, 2020−2024: Asia Leads Global …read more →