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Tuesday, 29 January 2019

Algeria plans solar energy tenders to tackle rising electricity needs

29 January 2019, News Wires — Algeria plans to issue several tenders for renewable energy projects this year as it seeks to meet growing demand for electricity and save gas for export, an official said on Monday. The OPEC oil producing member hopes to build solar plants to produce 22,000 megawatts (MW), or 27 percent of … More »

Venezuela’s Guaido orders new boards for PDVSA, Citgo

29 January 2019, News Wires — Venezuelan opposition leader and self-proclaimed president Juan Guaido said on Monday that he has ordered congress to begin the process of naming new boards of directors to state oil company PDVSA and U.S. refining subsidiary Citgo. His advisers are rushing to take control of Citgo, the country’s main foreign asset, … More »

Oil market: Nigerian crude differentials soften as overhang persists

29 January 2019, Lagos — Sky-high prices for Nigerian crude cargoes ensured muted spot activity on Monday, though an overhang of unsold barrels brought differentials down from last week’s 2014 peaks, traders said. Bonny Light and Escravos for March loading were indicated at $2.15-$2.20 above dated Brent, traders said, compared with offers around $2.50 on Friday, … More »

Fed Govt has begun refunding N1.3tn owed NDDC – Brambaifa

Mkpoikana Udoma 29 January 2019, Sweetcrude, Port Harcourt — The Acting Managing Director of the Niger Delta Development Commission, NDDC, Professor Nelson Brambaifa, says the Federal Government has begun refunding over N1.3 trillion owed the Commission since inception. The new Chief Executive Officer of the interventionist agency, who spoke during the inaugural meeting of the new management, … More »

Ensure HYPREP has every resources, UNEP tasks Fed Govt

Mkpoikana Udoma 29 January 2019, Sweetcrude, Port Harcourt — The United Nations Environment Programme, UNEP, has urged the Federal Government to ensure that the Hydrocarbon Pollution Remediation Project, HYPREP, has all the tools and resources to clean up Ogoniland. Recall that UNEP was in 2007 invited by the Nigerian government to carry out an environmental impact assessment … More »

U.S. imposes sanctions on Venezuelan state oil firm PDVSA

29 January 2019, News Wires — The United States has imposed sanctions on Venezuelan state-owned oil firm PDVSA, White House national security adviser John Bolton said on Monday. “We have continued to expose the corruption of (Venezuelan President Nicolas) Maduro and his cronies and today’s action ensures they can no longer loot the assets of the … More »

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