True Dominion Enterprises Ltd: August 2018

True Dominion Enterprises Ltd

Friday 31 August 2018

Total, Japaul end week’s trading with losses

31 August 2018, Sweetcrude, Lagos — Total and Japaul Petroleum ended this week’s trading at the Nigerian Stock Exchange for energy companies with losses. More »

EU ends trade controls on Chinese solar panels

31 August 2018, News Wires — The European Union will end restrictions on the sale of solar panels from China early next week in a move that EU producers said would lead to a flood of cheap imports. More »

Privatisation planning hits earnings at Dutch energy firm Eneco

31 August 2018, News Wires — Dutch energy company Eneco reported a sharp fall in first-half operating earnings on Friday, blaming costs related to its planned privatisation. More »

Danger to oil demand from trade wars may offset price boost from Iran: Reuters poll

31 August 2018, News Wires — Oil analysts cut their price forecasts for 2018 for the first time in almost a year in August, given growing concern over the impact on crude demand from escalating trade tensions, although falling supply, particularly from Iran, would likely limit losses, a Reuters poll showed on Friday. More »

Pipeline politics leave Canada’s prime minister in peril

31 August 2018, News Wires — With one surprise court ruling, Canadian Prime Minister Justin Trudeau faces the risk of contesting next year’s election with key pieces of his economic and environmental plans in ruins. More »

Nigeria National Petroleum Corporation to get new revenue template

OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — The Federation Accounts Allocation Committee, FAAC said on Thursday that a new revenue reporting template would soon be ready for the Nigerian National Petroleum Corporation, NNPC. More »

How petrol tanker fire destroyed properties worth billions in PH

Mkpoikana Udoma 31 August 2018, Sweetcrude, Port Harcourt — An early morning fire incident caused by a petrol tanker has destroyed properties worth billions of Naira, in Port Harcourt metropolis, Rivers State. More »

Nigerian Electricity Regulatory Commission issues 144 licenses since 2007

OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — The Nigerian Electricity Regulatory Commission, NERC, has issued 144 licenses since its inception in 2007. More »

31 August 2018, News Wires — A Canadian court on Thursday overturned approval of the Trans Mountain oil pipeline expansion, ruling that Ottawa failed to adequately consider aboriginal concerns, in a blow to Prime Minister Justin Trudeau’s efforts to balance environmental and economic issues. More »

Japan halts imports of Iranian oil under US pressure

31 August 2018, Sweetcrude, Lagos — Japanese oil companies will stop importing oil from Iran in accordance with the U. More »

OPEC daily basket crude prices close at $75.72 per barrel

31 August 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $75. More »

Kenya’s parliament approves retaining interest rate cap, against IMF wishes

31 August 2018, Nairobi — The Kenyan parliament voted on Thursday to retain the cap on commercial interest rates which the International Monetary Fund has insisted must be scrapped or modified in return for a new standby arrangement. More »

Aker Energy to start Ghana drilling in Oct, eyes development plan in 2019

31 August 2018, News Wires — Norwegian oil firm Aker Energy will delay submitting a plan for development of its block off Ghana until early next year in order to first complete appraisal drilling, expected to start in October, its chief executive said on Thursday. More »

Nigeria’s power sector records 25 deaths in Q3 2017

OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — Nigeria’s power sector recorded a total of 25 deaths in the third quarter of 2017, statistics released by the Nigerian Electricity Regulatory Commission, NERC, have shown. More »

OPEC, non-OPEC partners record 109% pledged oil cut in July

OpeOluwani Akintayo, with agency report 30 August 2018, Sweetcrude, Lagos — The Organization of the Petroleum Exporting Countries, OPEC, said its members and non-OPEC partners involved in the output cut agreement, have delivered 109 percent of its promised oil supply cuts in July. More »

…Vandals caught with 60,000 litres of petrol OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — A pipeline in Lagos belonging to the Nigerian National Petroleum Corporation, NNPC, has been vandalised. More »

Get more involved in oil & gas, Wabote tells lawyers

OpeOluwani Akintayo 31 August 2018, Sweetcrude, Lagos — Nigerian lawyers have been enjoined to get more involved in the ongoing reforms in the oil and gas industry. More »

Japaul leads Thursday’s trading among energy companies

30 August 2018, Sweetcrude, Lagos — Japaul Oil led Thursday’s trading activities on the floor of the Nigerian Stock Exchange for energy companies with 0. More »

OPEC, non-OPEC seek to formalize oil policy coordination: draft charter

30 August 2018, News Wires — OPEC and non-OPEC oil producers will aim to formalize their long-term cooperation later this year by approving a charter that will make possible further joint action on output, according to a draft charter seen by Reuters. More »

Oil rises on Iran sanctions, lower U.S. fuel inventories

30 August 2018, News Wires — Oil prices rose on Thursday, extending gains on growing evidence of disruptions to crude supply from Iran and Venezuela and after a fall in U. More »

Diesel guzzler Indian Railways turns to natural gas to cut cost

30 August 2018, News Wires — India’s state railways on Thursday signed a preliminary deal with gas firm GAIL (India) Ltd to use natural gas in some of its operations, part of a drive by the world’s third biggest oil consumer to gradually shift to cleaner fuels. More »

Now you see it, now you don’t: oil surplus vanishes ahead of Iran deadline

Local industry may back up fragile power supply to Norway’s Nyhamna gas plant

30 August 2018, News Wires — Norway’s Nyhamna gas processing plant, which feeds Britain with gas through the North Sea’s biggest pipeline, may rely on power from local industries as a backup to its fragile electricity supply, grid operator Statnett told Reuters. More »

Hellenic Petroleum second-quarter core profit drops on weaker refining margins

30 August 2018, News Wires — Hellenic Petroleum, Greece’s biggest oil refiner, reported on Thursday an 18 percent drop in second-quarter core profit, hurt by lower refining margins. More »

OPEC daily basket crude price closes at $74.48 per barrel

30 August 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $74. More »

Petrol tanker fire destroys properties worth billions in Port Harcourt

Mkpoikana Udoma 30 August 2018, Sweetcrude, Port Harcourt — An early morning fire incident caused by a petrol tanker has destroyed properties worth billions in Port Harcourt metropolis, Rivers State. More »

Chevron urged to recruit 151 of its trainees in Egbema, Gbaramatu

Lucky Omas 30 August 2018, Sweetcrude, Warri, Delta State — Chevron Nigeria Limited has been urged to formerly recruit 151 trainees of its VTPS 5 and 6 from Egbema and Gbaramatu areas of Warri North and Warri south local governments in Delta state. More »

Clarke Energy emerges preferred bidder for Symbion Power’s Lake Kivu power projects

*To create new jobs in Rwanda to service GE’s Jenbacher gas engines * Clarke Energy to Provide Approximately 25 of GE’s Jenbacher Gas Engines for Symbion Power’s Kivu 56 and KP1 Power Plants in Rwanda *Two power projects at Lake Kivu will increase capacity by 81 megawatts and significantly reduce cost of generation in Rwanda … More »

Equinor bets on offshore wind as European oil firms push green agenda

30 August 2018, NewsWires — Norway’s Equinor is focusing its green efforts on offshore wind, a goal it is already on its way to achieve, but some investors are concerned about the impact this shift will have on the company’s bottom line. More »

Bosnia adopts long-term energy strategy key to unlocking EU funds

30 August 2018, NewsWires — Bosnia’s central government adopted a long-term energy strategy on Wednesday after years of political wrangling between its two regions, paving the way for major funding from the European Union and other investors. More »

Gazprom’s second quarter profit soars on rising energy prices, sales

30 August 2018, NewsWires — Russian gas giant Gazprom reported a surge in second-quarter net profit, beating analysts’ expectations, as it benefited from rising energy prices. More »

NERC says metering, solution to revenue deficiency in power distribution

OpeOluwani Akintayo 30 August 2018, Sweetcrude, Lagos — Electricity market regulator, the Nigerian Electricity Regulatory Commission, NERC, has recommended metering as solution to revenue collection deficiency in the power sector. More »

Discos beach metering agreement with BPE

…Four firms achieve 50% metering OpeOluwani Akintayo 30 August 2018, Sweetcrude, Lagos — Despite the call by Minister of Power Babatunde Fashola for improved metering of customers by the power distribution companies or Discos, figures available to SweetcrudeReports have shown that the Discos have underperformed in terms of the number of meters given out to customers … More »

Power: Nigeria’s international customers, Ajaokuta Steel owe N21bn for Q3 2017

OpeOluwani Akintayo 30 August 2018, Sweetcrude, Lagos — Nigeria’s international customers and the Ajaokuta Steel, regarded as a special customer, are owing a total N21 billion for electricity supply in the third quarter of 2017. More »

Nigerian National Petroleum Corporation to set up oil bunkering subsidiary

Ike Amos 30 August 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation (NNPC), Wednesday, stated that it plans to set up an oil bunkering subsidiary to provide refueling services to ships and other ocean-going vessels. More »

Mini power grids bring promise of jobs to rural Nigerians – report

29 August 2018, Dakar — Nigeria is on the verge of a boom in mini power grids that could stimulate rural economies and bring jobs to frustrated youth thinking of leaving, researchers said on Wednesday. More »

Oil rises as U.S. stockpiles draw down, Iran exports fall

29 August 2018, New York — Oil prices rose about 1 percent on Wednesday, supported by a drawdown in U. More »

Life after Coal & Greenpeace Africa slam inclusion of new coal in electricity plan

*The Life After Coal Campaign and Greenpeace Africa argue that the inclusion of an additional 1000 MW of new coal-fired power puts the Department of Energy in conflict with the rights enshrined in the Constitution 29 August 2018, Sweetcrude, Johannesburg, South Africa — The inclusion of new coal in the updated draft Integrated Resource Plan … More »

Six ships expected in Port Harcourt with PMS, other products

Mkpoikana Udoma 29 August 2018, Sweetcrude, Port Harcourt — Six ships carrying various products including premium motor spirit, also known as petrol, are expected to berth at the Port Harcourt seaports before the end of this week. More »

Maritime workers shut down shipping firm over unpaid salaries

Mkpoikana Udoma 29 August 2018, Sweetcrude, Port Harcourt — Maritime workers under the aegis of Maritime Workers Union of Nigerian and the Senior Staff Association of Shipping, Freight and Forwarding Agency, have shut down the Port Harcourt branch of a shipping firm, Murphy Shipping and Commercial Services. More »

29 August 2018, Sweetcrude, Lagos — Trelleborg’s offshore operation will exhibit at the Congreso Mexicano del Petroleo (CMP) in Acapulco, Mexico, showcasing its latest solutions including passive fire protection and thermal insulation materials for the Gulf of Mexico region. More »

Apapa gridlock persists one month after Osinbajo’s intervention

Vincent Toritseju 29 August 2018, Sweetcrude, Lagos — More than one month after Nigeria’s Vice President Yemi Osinbajo visited the ports in Lagos and ordered a 72-hour joint operation by security operatives to clear the gridlock in and around the Apapa area, very little progress appears to have been achieved in this regard. More »

ABB demonstrates digital future of power grid design and planning

*Innovative application on display at CIGRE 2018 uses Virtual Reality based technology to enable customers to “walk through” projects 29 August 2018, Sweetcrude, Lagos — ABB is taking the digitalization of power grids design technology to the next level with its innovative new 3D/VR design and planning tool, being demonstrated live at CIGRE 2018, in … More »

ABB to enable world’s largest digital substation in Belarus

*ABB Ability™ based technology will improve efficiency, safety, security and reliability in the world’s largest digital substation 29 August 2018, Sweetcrude, Lagos — ABB will enable the world’s largest digital substation with the upgrade of one of the biggest air-insulated substations (AIS) ever built for the Belarus Ministry of Energy and its transmission utility Mogilevenergo. More »

31,760 tm of Cocoa, cocoa butter stuck on Lagos Port roads

Vincent Toritseju with agency report 29 August 2018, Sweetcrude, Lagos — About 30,000 metric tons of cocoa scheduled for export are presently trapped on the road’s route to Lagos ports, the Cocoa Exporters Association of Nigeria, CEAN, has said. More »

Report shows market for mining trucks to grow till 2020

29 August 2018, Sweetcrude, Lagos — The global market for surface mining trucks is expected to grow steadily to 2020, primarily driven by the growing demand from mining companies operating across the Asia-Pacific, APAC, region, says leading data and analytics company, GlobalData. More »

29 August 2018, News Wires — Venezuela’s main oil port of Jose is operating partially after a tanker collided with a dock at the weekend, curtailing state-run PDVSA’s ability to export upgraded crude and receive imported diluents, three sources with knowledge of the incident said on Tuesday. More »

29 August 2018, Houston, Texas — The U. More »

29 August 2018, News Wires — A Swiss court accepted a plea bargain on Tuesday from a former employee of energy trader Gunvor Group in relation to an investigation into corruption in Congo Republic and Ivory Coast, the former employee’s lawyer said. More »

Weekly SweetcrudeReports/Guardian collaboration August 29 2018

Read the Weekly SweetcrudeReports/Guardian collaboration - $3. More »

Sam Ikeotuonye 29 August 2018, Sweetcrude, Lagos — Representatives of host communities impacted by the recent oil spill on the Trans Ramos Pipeline, TRP, in Aghoro community, Bayelsa State, want the Shell Petroleum Development Company of Nigeria, SPDC, to expand the scope of areas affected by the spill. More »

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