31 December 2017, News Wires — Oil traders are going to have their work cut out for them in 2018. OPEC and its allies are heading into the second year of supply cuts to wipe out the global oil glut, while rising U.S. output is threatening those efforts. Geopolitical tensions also add a wild card …
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More »31 December 2017, Jarkata – Indonesia received bids from several foreign companies for exploration in five oil aand gas blocks in 2017, the deputy energy minister said on Friday, marking an uptick in interest for the resource-rich nation compared with previous years. At least four companies, including Mubadala Petroleum, Repsol SA and KrisEnergy, put in …
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More »31 December 2017, News wires – U.S. crude oil production in October rose to the highest in more than 46 years, while natural gas production leaped to a new record, U.S. Energy Information Administration data showed on Friday. The production increases in October compared to a year ago come on the heels of higher energy prices, …
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More »31 December 2017, Mumbai: India’s Reliance Industries Ltd will become a major provider of clean energy in the country, Chairman Mukesh Ambani, said, as the South Asian nation transitions to renewable energy sources from fossil fuels. India is one of the world’s biggest users of coal, and renewable energy such as solar power is a …
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More »31 December 2017, New Delhi: India is set to surpass China as the biggest importer of liquefied petroleum gas (LPG) this month as a drive to replace wood and animal dung fires for cooking boosts consumption. Shipping data in Thomson Reuters Eikon shows LPG shipments to India will reach 2.4 million tonnes in December, pushing …
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More »Ike Amos 30 December 2017, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation (NNPC), Saturday, maintained its stance that the fuel crisis that ravaged the country over the last few weeks was caused by petroleum marketers to profit from the crisis. The NNPC, in a statement signed by its Group General Manager, Group Public Affairs …
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More »OpeOluwani Akintayo with Agency Report 30 December 2017, Sweetcrude, Lagos — The government of Venezuelan has announced that its cryptocurrency to be launched in few days time, will be backed by 5.3 billion barrels of oil worth $267 billion. According to a report published by CNBC, the move is to pay off its debts caused …
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More »OpeOluwani Akintayo 30 December 2017, Sweetcrude, Lagos — The Independent Energy Watch Initiative of Nigeria, IWIN, has called on the Federal Government to de-emphasise rhetorics and instead focus on improved power generation in the country. In a series of reports released by the group titled ‘Nigeria’s Power Sector in a Glance#lessTalkMorePower ‘, the group said …
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More »Mkpoikana Udoma 30 December 2017, Sweetcrude, Port Harcourt — The Special Assistant to the President on Prosecution, Mr. Okoi Obono-Obla, has hinted that the Federal Government would prosecute the former Petroleum Minister, Mrs. Diezani Allison-Madueke, if found culpable of the charges against her by the Economic and Financial Crimes Commission, EFCC. Obono-Obla disclosed that the …
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More »30 December 2017, Sweetcrude, London — At a time when the world is moving away from fossil fuels towards renewable sources of energy in response to the challenges posed by the reduction in petroleum reserves, the perspective of supply disruptions seen within the prism of the blackmail of oil producing countries, price volatility and environmental …
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More »*Tasks govt on oil metering, recovery of $3.7billion outstanding revenues *Urges NNPC to give full account, status of $16.8 billion NLNG dividends OpeOluwani Akintayo 30 December 2017, Sweetcrude, Lagos — Nigeria’s oil and gas revenues plunged from $54.5 billion in 2014 to $24.8 billion in 2015, the Nigeria Extractive Industries Transparency Initiative, NEITI has disclosed. …
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More »OpeOluwani Akintayo with Agency report 30 December 2017, Sweetcrude, Lagos — Shell and Total have joined the list of international companies operating in Iran that have leased out their oil tankers. According to the National Iranian Tanker Company, NITC Managing Director, Sirous Kianersi, the list keeps increasing following the implementation of a Joint Comprehensive Plan …
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More »OpeOluwani Akintayo 30 December 2017, Sweetcrude, Lagos — Electricity consumers have been advised to investigate payment history of any building before moving into them. A statement by the Port Harcourt Electricity Distribution Company, PHED on Friday, said it was important for consumers to make such enquiries to guard against inheriting accumulated bills. “Always endeavor to …
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More »It also showed that $586.011 million accounted for unreconciled export sales receivables in the year under review explaining that this is as a result of previous year unexplained/unreconciled difference. "The difference may continuously be carried forward. "
The post NNPC fails to account for N5.15 trillion in unremitted funds – NEITI Report appeared first on SweetCrudeReports.
More »*May restrict Egina FPSO’s access to Nigerian waterways Vincent Toritseju 30 December 2017, Sweetcrude, Lagos — The Nigerian Ports Authority, NPA, has suspended service boat operations in all its pilotage districts until the full settlement of debts accruing from unpaid pilotage dues by international oil companies, IOCs and other beneficiaries of the services. The management …
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More »“There is a deep-seated conflict of interest in the downstream sector; regulators are operators, regulators are importers, importers are products hoarders, regulators are also saboteurs, definitely we have a sector capture in our hands, Nigeria and Nigerians need liberation,” he remarked.
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More »“There is no contract fraud anywhere. Part of the contract alleged to have been awarded were presented to the Federal Executive Council two weeks ago.”
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More »29 December 2017, News wires – Ship building company, Samsung Heavy Industries of South Korea, says it will sign a deal for the construction of a liquefied natural gas, LNG, carrier at the cost of $196.4 million. The deal is for construction of a liquefied natural gas carrier, capable of transporting 180,000 cubic meters of LNG, …
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More »29 December 2017, New Delhi – By March 2019, all homes in the country will be provided uninterrupted 24-hour power supply throughout the year, India’s Power Minister R. K. Singh has said. Singh said by December 2018, 1,694 villages, which are yet to be electrified, will have electricity connection and works in this regard has been going …
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More »29 December 2017, , News Wires – Repsol has begun gas production from the Sagari field, located in block 57 in the Cusco region of Peru, the South American only liquefied natural gas (LNG) exporter. The start of production at Sagari will lead to a 25 percent increase in the block’s total output, Repsol said, adding …
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More »29 December 2017, News Wires – Peru’s only liquefaction facility at Pampa Melchorita shipped three cargoes over the last two weeks, two of which are headed for Spain and one will land in China, LNG World News reports. According to the shipping data provided by the state-owned Perupetro, the 136,600-cbm LNG carrier Galea departed the facility on December …
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More »29 December 2017, New Delhi – Israel will award an exploration license to a consortium of Indian state firms led by ONGC Videsh in an auction of its offshore gas fields that saw tepid response from global companies. The decision to award the license, coming just ahead of Israeli Prime Minister Benjamin Netanyahu’s proposed mid-January …
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More »29 December 2017, Sweetcrude, Lagos — Transactions on equities of energy companies traded on the Nigerian Stock Exchange, NSE, ended on a positive note as 2017 wound to a close. Top Gainers Seplat ended the day with a volume of 41,840 traded at a value of 26,184,671.80, up by 29.82 points. Mobil trailed behind …
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More »29 December 2017, Akure – The Nigerian Security and Civil Defence Corps, NSCDC, Ondo State Command, said it arrested more than 60 suspects and secured the conviction of 10 people for various crimes within 100 days in the state. The were arrested for vandalism of petroleum products, telecommunications and power equipment, and destruction of farm …
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More »29 December 2017, Singapore/London — U.S. oil prices hit their highest since mid-2015 on the final trading day of the year as an unexpected fall in American output and a fall in commercial crude inventories stoked buying. In international markets, Brent crude oil futures also rose, supported by ongoing supply cuts by top producers OPEC …
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More »“This is not a time for diversionary issues as the petroleum sector is dealing with a serious national issue. We are focused on collaboratively finding an urgent solution to this crises."
The post Kachikwu denies writing memo to Buhari on likely fuel scarcity appeared first on SweetCrudeReports.
More »The Committee chaired by Senator Kabiru Marafa, has been meeting with relevant stakeholders to find a lasting solution to the fuel scarcity.
The post Fuel scarcity: Saraki directs Senate committee on petroleum to cut short recess appeared first on SweetCrudeReports.
More »“It is our belief that state concerns can be addressed by the instrumentality of the recently inaugurated Mining Council and the MIREMCO provisions in the Mining Act in order to avert any constitutional crisis that may likely arise as a result of any suggestion or proposal to remove mining from the exclusive legislative list.”
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More »The GGM noted that the bid opening was conducted openly in the full glare of representatives of the bidding companies to demonstrate NNPC’s commitment to transparency and due process in all its operations.
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More »OpeOluwani Akintayo 29 December 2017, Sweetcrude, Lagos — In a bid to give back to its customers, Ikeja Electric Plc has rewarded 24 customers on its network with free 4,000 monthly worth of energy for a period of one year and a star prize reward of 4,000 monthly for a period of 4 years. Speaking …
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More »She added that, unfortunately, this proposal comes at a time when the power sector is facing critical and strangulating financial challenges in building the capacity for the sustainable electricity supply that will drive the growth of our economy.
The post N10bn ‘universities solar project’ comes under intense scrutiny appeared first on SweetCrudeReports.
More »*N40b shared among oil-producing states OpeOluwani Akintayo 29 December 2017, Sweetcrude, Lagos — The Federation Account Allocation Committee, FAAC, has disclosed that the Department of Petroleum Resources, DPR, received N3 billion allocation for the month of November 2017. According to statistics sourced from the Nigerian Bureau of Statistics, NBS on how the total sum N532.76bn …
The post DPR gets N3b federal allocation in November 2017 appeared first on SweetCrudeReports.
More »According to him, NNPC is winning the war and putting in place adequate measures to ensure the product is easily accessible to the people in all parts of the country.
The post Fuel scarcity will end by weekend – NNPC, DPR assures appeared first on SweetCrudeReports.
More »“It is an undisputable fact that DAPPMA members have paid for petrol supply (with bank funds) for over one month, the value of which is in excess of N90bn, yet PPMC/NNPC had no cargo to allocate to them."
The post We paid NNPC N90bn for fuel but received nothing – Oil marketers appeared first on SweetCrudeReports.
More »Mkpoikana Udoma 28 December 2017, Sweetcrude, Port Harcourt — The Movement for the Survival of the Ogoni People, MOSOP, has condemned RoboMicheal Limited and the Nigerian Army over an alleged forceful occupation of its secretariat in Bori, Khana Local Government Area of the Rivers State. The Publicity Secretary of MOSOP, Mr. Fegalo Nsuke said heavily …
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More »Michael James 28 December 2017, Sweetcrude, Lagos — The Senate President, Bukola Saraki has directed the committee on petroleum resources to cut short its recess and conduct a stakeholders’ meeting in a bid to end the lingering fuel scarcity in the country. Saraki also directed the committee chaired by Kabir Marafa to summon the Minister of …
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More »OpeOluwani Akintayo 28 December 2017, Sweetcrude, Lagos — The Federal Ministry of Power, Works, and Housing headed by the Minister Babatunde Fashola, has listed eight power plant projects it will embark upon, come 2018. In a statement eleased today, the ministry listed the projects as Azura (450 MW), Katsina Wind Farm (10 MW), Gbarain (115 …
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More »28 December 2017, London — Oil and gas producers, pipeline operators and refiners in Kuwait, the United Arab Emirates, Saudi Arabia, Oman, Bahrain, and Qatar borrowed a record $28.7 billion through bonds and syndicated loans in 2017, eclipsing the previous high set two years earlier, according to data compiled by Bloomberg. Those companies borrowed about …
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More »28 December 2017, Sweetcrude, Lagos — Market activities on the Nigerian Stock Exchange for energy companies on Thursday December 28, 2017 ended on a positive note despite the holidays. Top Gainers Total topped the chart of gainers with 10.95 points change, 118,238 volume of equities valued at 27,169,940.03 was traded. Mobil trailed behind Total with …
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More »28 December 2017, Moscow — Russia is working to keep natural gas exports to Europe near record levels in 2018 after the continent’s biggest supplier, Gazprom PJSC, said its deliveries this year signal it is achieving on its ambitions to expand. The state-controlled gas giant plans to ship a minimum of 180 billion cubic meters …
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More »28 December 2017, Beijing – Sinopec says it started trial operations at its Fuling LNG plant in south-western Chongqing on Dec. 20 The Fuling plant is China’s first LNG plant that compressed shale gas into LNG The plant has a designated production capacity of 680,000 tonnes per year. (Reporting by Meng Meng and Ryan Woo; …
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More »Ike Amos 28 December 2017, Sweetcrude, Abuja — Nigeria earned N362.24 billion from Petroleum Profit Tax (PPT) and Gas tax in three months, between July and September 2017. According to data obtained from the Central Bank of Nigeria’s (CBN) Statistical Bulletin for the Third Quarter of 2017, revealed that PPT and Gas tax accounted for …
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More »•Commits to 100% climate screening for all Bank-financed projects 28 December 2017, Sweetcrude, Abidjan, Côte d’Ivoire –− The African Development Bank achieved a 100% investment in renewable energy in 2017, a major landmark in its commitment to clean energy and efficiency. Power generation projects with a cumulative 1,400 megawatts exclusively from renewables were approved during …
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More »Mkpoikana Udoma 28 December 2017, Sweetcrude, Port Harcourt – Worried by the hydrocarbon soot ravaging Rivers State and its environs, the senator representing Rivers South-East Senatorial District in the National Assembly, Sen. Magnus Abe, has demanded that national health emergency be declared in the state over the soot. Speaking in Kpite, Tai Local Government Area …
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More »Mkpoikana Udoma 28 December 2017, Sweetcrude, Port Harcourt – Monarchs in Ogoniland under the auspices of Supreme Council of Ogoni Traditional Rulers, have said that they are ready to accept any company that wants to explore oil in the area. The decision comes contrary to the earlier decision by the socio-cultural Ogoni group, MOSOP and …
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More »OpeOluwani Akintayo 24 January 2017, Sweetcrude, Lagos — At the last monthly power sector operators’ meeting held on Monday, December 11 in Lokoja, Kogi State, Minister of Power, Works and Housing, Babatunde Fashola had claimed power generation had increased from below 5000 megawatts, MW, to 7000MW. “By collective action of Government and all of you, …
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More »Mkpoikana Udoma 28 December 2017, Sweetcrude, Port Harcourt — A pro-Ogoni group known as the Ken Saro-Wiwa Associates, has accused the Shell Petroleum Development Company, SPDC, of seeking to renew its license for OML11 oilfields, in a bid to forcefully resume oil production activities in Ogoniland. The National Coordinator of the group, Mr. Gani Topba, …
The post Ogoni: Shell’s renewal of OML11 licence, prelude to recommence operations (Updated) appeared first on SweetCrudeReports.
More »28 December 2017, Sweetcrude, Ankara — The technology group Wärtsilä has signed a long-term supply agreement with the Turkish company Aksa Enerji Üretim A.Ş. (“Aksa Energy”) and its affiliates. Aksa Energy has recently invested particularly in Africa, where energy is in demand in several countries throughout the continent. The use of Wärtsilä original parts ensures …
The post Wärtsilä secures efficient operations of Aksa Energy’s power plants appeared first on SweetCrudeReports.
More »…Plans to supply 1.2bn litres of PMS in January OpeOluwani Akintayo 28 December 2017, Sweetcrude, Lagos – The Nigerian National Petroleum Corporation, NNPC, has responded to allegations made against it by the Depot and Petroleum Products Marketers Association, DAPPMA, over the current fuel scarcity, saying it was still supplying DAPPMA members with petroleum products despite …
The post We supply you products despite your N26.7bn debt, NNPC replies DAPPMA appeared first on SweetCrudeReports.
More »OpeOluwani Akintayo 27 December 2017, Sweetcrude, Lagos – The Depot and Petroleum Products Marketers Association, DAPPMA, has denied allegations, accusing its members of petroleum products hoarding that had resulted in the scarcity of the products across the country. In a statement by its Secretary, Olufemi A. Adewole, the group said while it empathises with all Nigerians …
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