ExxonMobil lifts force majeure on Qua Iboe crude grade exports

ExxonMobil lifts force majeure on Qua Iboe crude grade exports

Crude exports of Nigeria’s key crude Qua Iboe are set to resume for the first time in almost six weeks after a fire at the terminal halted production and loadings, shipping and trading sources said Jan. 22. Later in the day, a spokesman at ExxonMobil confirmed it had lifted force majeure on Qua Iboe crude…

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Savannah Energy announces 2020 trading update and guidance for 2021

Savannah Energy announces 2020 trading update and guidance for 2021

Savannah Energy, the African-focused British independent energy company sustainably developing high quality, high potential energy projects in Nigeria and Niger, has announced a trading update for the full year 2020 and guidance for the full year 2021. Andrew Knott, CEO of Savannah Energy, said: ‘As this FY 2020 trading update demonstrates, despite the challenging headwinds,…

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FG expanding access to cooking gas for rural dwellers – NNPC GMD

FG expanding access to cooking gas for rural dwellers – NNPC GMD

Mr Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation, said the Federal Government has set up plans to expand access to Liquefied Petroleum Gas (LPG), also known as cooking gas, for rural dwellers. Kyari spoke on Wednesday at the virtual Atlantic Council’s Global Energy Forum. The Petroleum Products Pricing Regulatory Agency (PPRA) on Tuesday…

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Brent passes $56 as market shows signs of strength

Brent passes $56 as market shows signs of strength

Brent oil extended gains above $56 a barrel, rising with other assets on hopes of more U.S. economic stimulus and a weaker dollar. While crude prices have largely undulated with the American currency in recent days, the oil market’s structure is also pointing to renewed strength. U.S. crude’s closest contract is near the most expensive…

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Nigeria overtakes the United States as India’s fourth biggest oil supplier

Nigeria overtakes the United States as India’s fourth biggest oil supplier

Nigeria emerged as the fourth biggest supplier of crude oil to India in December, pushing the United States down to the sixth position just after Brazil. Reuters reported on Wednesday that India’s crude oil imports in December soared to the highest levels in nearly three years to more than five million barrels per day as…

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Italy prosecutors ask for JPMorgan documents to be admitted in Eni, Shell OPL 245 case

Italy prosecutors ask for JPMorgan documents to be admitted in Eni, Shell OPL 245 case

Italian prosecutors asked a Milan Court on Wednesday for documents sourced from U.S. bank JPMorgan to be filed as part of a corruption trial over the acquisition of an oilfield in Nigeria by Eni and Shell. The long-running graft case revolves around the purchase of the Nigerian OPL 245 offshore oil field in 2011 for…

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Nigeria lost two billion litres of petrol to spill – NOSDRA

Nigeria lost two billion litres of petrol to spill – NOSDRA

In order to solve the perennial power challenge at the Obudu Mountain Resort, the Cross River State Government has procured and installed 60kw solar plant at the resort. Mr. Bobby Ekpenyong, the Special Adviser to the State Government stated this in a statement made available to journalists over the weekend. According to him, visitors to…

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Fresh worry among stakeholders over aviation fuel quality, contaminants

Fresh worry among stakeholders over aviation fuel quality, contaminants

Aviation stakeholders have expressed worry over the quality of aviation fuel airlines use locally, especially its exposure to contaminants within the supply chain. The concern is not unconnected with recent findings that linked some air crashes and contaminated fuel. Again, some of the recommendations that emerged from the accident investigations have not been implemented. Meeting…

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Nigeria cut oil production by 600,000 barrels daily – Minister

Nigeria cut oil production by 600,000 barrels daily – Minister

The Minister of State, Petroleum Resources, Timipre Sylva, on Monday, said Nigeria has cut its crude oil production level from over 2 million barrels a day to 1.4m barrels in compliance with the quota endorsed by the Organisation of Petroleum Exporting Countries (OPEC). Sylva said this at the Presidential Villa, Abuja, while fielding questions from…

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