Wednesday, 31 January 2018

Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years – BP

Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years – BP

…Company announces investment in electric-car charging company OpeOluwani Akintayo 01 February 2018, Sweetcrude, Lagos – BP Plc has said it is looking to a future beyond oil as natural gas will be the fastest-growing hydrocarbon in the world in next 20 to 30 years. Bernard Looney, head of the company’s upstream division, said Tuesday that not …

The post Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years – BP appeared first on SweetCrudeReports.

More »
Read More »

Why Nigeria is strategic in fight against maritime crimes – Dakuku Peterside 

Why Nigeria is strategic in fight against maritime crimes – Dakuku Peterside 

Michael James 31 January 2018, Sweetcrude, Lagos – The Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, Dr. Dakuku Peterside, has highlighted factors that have made Nigeria strategic in the fight against maritime crimes in the Gulf of Guinea, GoG. According to him, these include being the country with the highest number of …

The post Why Nigeria is strategic in fight against maritime crimes – Dakuku Peterside  appeared first on SweetCrudeReports.

More »
Read More »

PANDEF urges Rivers community to maintaing peace, protect oil facilities

PANDEF urges Rivers community to maintaing peace, protect oil facilities

Oscarline Onwuemenyi  31 January 2018, Sweetcrude, Abuja – The Pan-Niger Delta Forum, PANDEF, has urged the Belema Community in Kula Kingdom of Akuku-Toru local government area of Rivers State to maintain peace and protect oil and gas facilities in the area. The advice came when PANDEF delegation visited communities in Kula Kingdom as part of efforts …

The post PANDEF urges Rivers community to maintaing peace, protect oil facilities appeared first on SweetCrudeReports.

More »
Read More »

Fayemi commends World Bank over MinDiver project

Fayemi commends World Bank over MinDiver project

Princewill Demian  31 January 2018, Sweetcrude, Abuja – The minister of Mines and Steel Development, Dr. Kayode Fayemi, has commended the World Bank for its role in the successful formulation of the Mineral Sector Support for Economic Diversification Project, MinDiver, for which the ministry partnered with the Bank. Fayemi specifically hailed the Bank for using the …

The post Fayemi commends World Bank over MinDiver project appeared first on SweetCrudeReports.

More »
Read More »

Egina FPSO: NPA flaunts preparedness for greater responsibilities

Egina FPSO: NPA flaunts preparedness for greater responsibilities

Sam Ikeotuonye 31 January 2018, Sweetcrude, Lagos – The Nigerian Ports Authority, NPA, has indicated its preparedness at taking on greater challenges going by the resources at its disposal. These include highly-skilled personnel, top graded equipment, including tug boats, and safe navigable channels amidst safe and secured environment for the ease of doing business in the …

The post Egina FPSO: NPA flaunts preparedness for greater responsibilities appeared first on SweetCrudeReports.

More »
Read More »

NNPC says over 3,000 vehicles in Benin powered with CNG

NNPC says over 3,000 vehicles in Benin powered with CNG

Princewill Demian 31 January 2018, Sweetcrude, Abuja – The Nigerian National Petroleum Corporation, NNPC, has stated that over 3,000 vehicles in  the Edo state capital, Benin City, were now powered with Compressed Natural Gas, CNG. According to Group Managing Director of the NNPC, Dr. Maikanti Baru, this is part of the progress by the NNPC in …

The post NNPC says over 3,000 vehicles in Benin powered with CNG appeared first on SweetCrudeReports.

More »
Read More »

Nigerian LNG cargo arrives Portugal today

Nigerian LNG cargo arrives Portugal today

31 January 2018, Sweetcrude, Lagos – A Nigerian liquefied natural gas, LNG, cargo loaded at the LNG facility on Bonny Island in Rivers State would be arriving Portugal today. LNG carrier LNG River Niger, owned by Bonny Gas Transport, BGT, subsidiary of the Nigerian LNG Limited, NLNG, is transporting 141,000 cubic metres of the chilled fuel …

The post Nigerian LNG cargo arrives Portugal today appeared first on SweetCrudeReports.

More »
Read More »

Nigeria now 70% gas flaring-compliant – Kachikwu

Nigeria now 70% gas flaring-compliant – Kachikwu

Chuks Isiwu  31 January 2018, Sweetcrude, Lagos – Nigeria is now about 70 percent compliant on gas flare exit, Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has disclosed. The implication of this is that Nigeria is now utilising about 70 percent of the gas produced by oil firms in the process of crude oil …

The post Nigeria now 70% gas flaring-compliant – Kachikwu appeared first on SweetCrudeReports.

More »
Read More »

Equities: Forte Oil leads Wednesday trading

Equities: Forte Oil leads Wednesday trading

31 January 2018, Sweetcrude, Lagos — Trading on the floor of the Nigerian Stock Exchange, NSE saw Forte Oil topping the gainers’ chart of energy companies equities while Eterna trailed behind. Top Gainers Forte Oil 0.95% Eterna 0.28%

The post Equities: Forte Oil leads Wednesday trading appeared first on SweetCrudeReports.

More »
Read More »

OPEC daily basket price close at $66.60/b

OPEC daily basket price close at $66.60/b

31 January 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $66.60 a barrel on Tuesday, compared with $67.60 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial …

The post OPEC daily basket price close at $66.60/b appeared first on SweetCrudeReports.

More »
Read More »

Blackout in Rivers as youths shutdown Afam transmission station

Blackout in Rivers as youths shutdown Afam transmission station

Mkpoikana Udoma 31 January 2018, Sweetcrude, Port Harcourt — Port Harcourt and its envrionment have been thrown into total darkness after youths in Oyigbo Local government Area shut down the 132KVA Transmisson Station in Afam. The protesting youths under the aegis of Oyigbo Youth Assembly said they were shutting the facility over what they termed as …

The post Blackout in Rivers as youths shutdown Afam transmission station appeared first on SweetCrudeReports.

More »
Read More »

Nigeria to build $5.8 billion hydro-power plant

Nigeria to build $5.8 billion hydro-power plant

He said, “We hope to break ground this year if we can conclude the financing. Contracts are in place. We are good to go.”

The post Nigeria to build $5.8 billion hydro-power plant appeared first on SweetCrudeReports.

More »
Read More »

NAATBatt forms Zinc Battery Committee with ZAF Energy Systems

NAATBatt forms Zinc Battery Committee with ZAF Energy Systems

*Increased demand for lead-acid battery replacement to spur growth in zinc market 31 January 2018, Sweetcrude, Joplin, Mo. – ZAF Energy Systems Inc. (ZAF), a developer of next-generation battery technology, announced today it is a charter member of the Zinc Battery Sub-Committee formed by the National Alliance for Advanced Transportation Batteries (NAATBatt). The Committee will …

The post NAATBatt forms Zinc Battery Committee with ZAF Energy Systems appeared first on SweetCrudeReports.

More »
Read More »

Nigerian govt recovers 500 stranded containers with transmission expansion equipment

Nigerian govt recovers 500 stranded containers with transmission expansion equipment

“The President had given a mandate to the ministry and by extension to TCN to improve its capacity to deliver service between the Gencos and the Discos. That mandate had been followed by policy approvals, power recovery programme, the grid expansion programme."

The post Nigerian govt recovers 500 stranded containers with transmission expansion equipment appeared first on SweetCrudeReports.

More »
Read More »

Trelleborg, SMT collaborate to achieve dynamic subsea storage

Trelleborg, SMT collaborate to achieve dynamic subsea storage

31 January 2018, Sweetcrude, Houston, Texas — Capitalizing on the strategic alliance agreement between Trelleborg’s offshore operation and Safe Marine Transfer, LLC (SMT) announced last year, the two companies are working to develop a step-change technology for the offshore installation and subsea operation arena. With US patents issued and additional ones pending, the new technology enables …

The post Trelleborg, SMT collaborate to achieve dynamic subsea storage appeared first on SweetCrudeReports.

More »
Read More »

NERC, DisCos, others hold final consultation meeting on MAP

NERC, DisCos, others hold final consultation meeting on MAP

OpeOluwani Akintayo 31 January 2018, Sweetcrude, Lagos — The Nigerian Electricity Regulatory Commission, NERC, is presently in a final consultation meeting with the Electricity Distribution Companies, DisCos, Nigeria Bulk Electricity Trading Company; and Transmission Company of Nigeria, TCN over the Meter Asset Providers, MAP regulation. The regulation is expected to bridge the wide metering gap …

The post NERC, DisCos, others hold final consultation meeting on MAP appeared first on SweetCrudeReports.

More »
Read More »

Nigeria’s oil sees slow sale at market on Monday

Nigeria’s oil sees slow sale at market on Monday

OpeOluwani Akintayo with Agency report 30 January 2018, Sweetcrude, Lagos — Nigeria’s crude oil grades witnessed slow sale at the market on Monday. International oil market report obtained from Reuters showed that after a week of active spot trading, the market was slower yesterday as traders awaited the result of several tenders. A cargo of …

The post Nigeria’s oil sees slow sale at market on Monday appeared first on SweetCrudeReports.

More »
Read More »

Weekly SweetcrudeReports/Guardian collaboration January 31 2018

Weekly SweetcrudeReports/Guardian collaboration January 31 2018

Nigeria now 70% gas flaring-compliant - Kachikwu. Read the Weekly SweetcrudeReports/Guardian collaboration

The post Weekly SweetcrudeReports/Guardian collaboration January 31 2018 appeared first on SweetCrudeReports.

More »
Read More »

Nigeria’s power grid collapsed 6 times in one week in 2018 – System Operator

Nigeria’s power grid collapsed 6 times in one week in 2018 – System Operator

He said, “There are certain things that need to be put in place for us to have grid stability and one of them is that we need to put in adequate investment. One of the key investments that we need to do quickly is that we need to build another line between Benin and Omotosho."

The post Nigeria’s power grid collapsed 6 times in one week in 2018 – System Operator appeared first on SweetCrudeReports.

More »
Read More »

Blackout in Rivers as youths shutdown Afam transmission station

Blackout in Rivers as youths shutdown Afam transmission station

Mkpoikana Udoma 31 january 2018, Sweetcrude, Port Harcourt – Port Harcourt and its environs have been forced into total darkness after youths in Oyigbo Local government Area shut down the 132KVA Transmission Station in Afam. The protesting youths under the aegis of Oyigbo Youth Assembly, said they were shutting the facility over what they termed as marginalization …

The post Blackout in Rivers as youths shutdown Afam transmission station appeared first on SweetCrudeReports.

More »
Read More »

No data to back Labour minister’s 7m new jobs claim – NBS

No data to back Labour minister’s 7m new jobs claim – NBS

“We don’t do politics at the NBS. the National Bureau of Statistics is the official source of data. Our law does not allow us to be countered. The law says very clearly that NBS is the official source of Nigerian data."

The post No data to back Labour minister’s 7m new jobs claim – NBS appeared first on SweetCrudeReports.

More »
Read More »

Tuesday, 30 January 2018

New projects must surpass Egina FPSO integration –NCDMB

New projects must surpass Egina FPSO integration –NCDMB

OpeOluwani Akintayo 30 January 2018, Sweetcrude, Lagos — New deepwater projects in Nigeria must set new records beyond the in-country integration of the Floating, Production, Storage, and Offloading (FPSO) vessels, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB) Engr. Simbi Wabote has said. In a statement released by NCDMB’s Public Affairs Division on …

The post New projects must surpass Egina FPSO integration –NCDMB appeared first on SweetCrudeReports.

More »
Read More »

Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years- BP

Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years- BP

*Company announces investment in electric-car charging company OpeOluwani Akintayo with Agency report 30 January 2018, Sweetcrude, Lagos — BP Plc has said it is looking to a future beyond oil as natural gas will be the fastest-growing hydrocarbon in the world over the next 20 to 30 years. Bernard Looney, head of the company’s upstream …

The post Gas, world’s fastest-growing hydrocarbon in next 20 to 30 years- BP appeared first on SweetCrudeReports.

More »
Read More »

Polish LNG terminal expansion to be completed by 2022

Polish LNG terminal expansion to be completed by 2022

30 January 2018, News Wires – Polish gas transmission operator, Gaz-System, expects the Swinoujscie LNG terminal’s expansion to be completed by the end of 2022. The company’s development director, Pawel Jakubowski said the works on expanding the terminal’s capacity from 5 billion cubic meters to 7.5 billion cubic meters are set to start before the end …

The post Polish LNG terminal expansion to be completed by 2022 appeared first on SweetCrudeReports.

More »
Read More »

Eterna, Seplat prices fall

Eterna, Seplat prices fall

Michael James 30 January 2018, Sweetcrude, Lagos – The prices of Eterna Oil and Seplat equities fell sharply at Tuesday’s trading on the floor of Nigerian Stock Exchange. Top Losers Eterna -0.22% Seplat -7.6%

The post Eterna, Seplat prices fall appeared first on SweetCrudeReports.

More »
Read More »

Hyundai Heavy scores $500m contract for Steelhead LNG’s export project in Canada

Hyundai Heavy scores $500 million contract for Steelhead LNG’s export project in Canada

30 January 2018, News Wires – South Korean shipbuilding giant Hyundai Heavy Industries said it had won a contract worth about $500 million for a liquefaction unit to be used for Steelhead LNG’s Kwispaa LNG export project in Canada’s British Columbia. Steelhead LNG, the Vancouver-based LNG export company, is developing the Kwispaa LNG project, formerly known …

The post Hyundai Heavy scores $500m contract for Steelhead LNG’s export project in Canada appeared first on SweetCrudeReports.

More »
Read More »

Tata Power CEO, Anil Sardana, resigns

Tata Power CEO, Anil Sardana, resigns

30 January 2018, News Wires – Tata Power said today that its CEO and Managing Director Anil Sardana has resigned due to personal reasons, effective April 30. “Anil Sardana has submitted his resignation as CEO and Managing Director of the company and as a director of the company, for personal reasons,” a Tata Powerstatement said. The company’s board has taken …

The post Tata Power CEO, Anil Sardana, resigns appeared first on SweetCrudeReports.

More »
Read More »

Wood loggers damage Oji River Nsukka Transmission line

Wood loggers damage Oji River Nsukka Transmission line

Michael James 30 January 2018, Sweetcrude, Lagos — Activities of wood loggers in Ukana town, by Ninth Mile-Nsukka road Enugu have damaged the transmission line between Oji River and Nsukka in Enugu State. This has resulted in cutting off electricity supply to the 2x 7.5MVA 66/11KV transmission Substation in Nsukka, which supplies electricity to Nsukka …

The post Wood loggers damage Oji River Nsukka Transmission line appeared first on SweetCrudeReports.

More »
Read More »

Egypt to halt LNG imports by June 2018

Egypt to halt LNG imports by June 2018

30 January 2018, News Wires – Egypt is gearing towards halting liquefied natural gas (LNG) imports by the end of 2017/2018 fiscal year which ends in June. Country’s minister of petroleum, Tarek El Molla said the rising production at newly discovered gas fields has pushed the country towards halting LNG imports sooner than it was …

The post Egypt to halt LNG imports by June 2018 appeared first on SweetCrudeReports.

More »
Read More »

Saudi Aramco considering expansion to India – Nikkei

Saudi Aramco considering expansion to India – Nikkei

30 January 2018, Bengaluru — Saudi Aramco IPO-ARMO.SE, the state oil company of Saudi Arabia, is considering entering India as part of its Asian expansion, Nikkei said on Tuesday, citing Aramco’s CEO who said that plans for an Indian refinery are crystallising. “Saudi Aramco is looking at additional investments in China, and India is also …

The post Saudi Aramco considering expansion to India – Nikkei appeared first on SweetCrudeReports.

More »
Read More »

OPEC daily basket price close at $67.60/b

OPEC daily basket price close at $67.60/b

30 January 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $67.60 a barrel on Monday, compared with $67.94 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial …

The post OPEC daily basket price close at $67.60/b appeared first on SweetCrudeReports.

More »
Read More »

Port access roads: Maritime workers union issues govt 7-day ultimatum

Port access roads: Maritime workers union issues govt 7-day ultimatum

Vincent Toritseju 30 January 2018, Sweetcrude, Lagos — The Maritime Workers Union of Nigeria (MWUN) weekend in Lagos issued a seven-day ultimatum to the Federal Government to remove all trucks parked or abandoned on Oshodi-Apapa Dual Carriage and make all access roads to the nation’s seaports motorable. The union in a statement warned that if …

The post Port access roads: Maritime workers union issues govt 7-day ultimatum appeared first on SweetCrudeReports.

More »
Read More »

Republic of Benin, Nigeria synergize on border security

Republic of Benin, Nigeria synergize on border security

Vincent Toritseju 30 January 2018, Sweetcrude, Lagos — The Nigeria Customs Service, NCS, yesterday commenced moves to enhance an effective and efficient border security management along the Nigerian and Benin Republic borders. Speaking at Joint Border Security Forum in Cotonou, the Republic of Benin, Nigeria’s High Commissioner to Benin, Ambassador Kayode Oguntuase said that the …

The post Republic of Benin, Nigeria synergize on border security appeared first on SweetCrudeReports.

More »
Read More »

NDDC plans regional power pool, to produce 7000MW of electricity

NDDC plans regional power pool, to produce 7000MW of electricity

Mkpoikana Udoma 30 January 2018, Sweetcrude, Port Harcourt — The Niger Delta Development Commission, NDDC, has started discussions with a Chinese firm, SINOTEC Company Limited for the execution of a Regional Power Pool Project, that would produce 7000MW of electricity in 18 power plants. The NDDC Managing Director, Mr. Nsima Ekere, during a meeting with …

The post NDDC plans regional power pool, to produce 7000MW of electricity appeared first on SweetCrudeReports.

More »
Read More »

374 students benefit from Belemaoil/NNPC scholarship in Rivers

374 students benefit from Belemaoil/NNPC scholarship in Rivers

Mkpoikana Udoma 30 January 2018, Sweetcrude, Port Harcourt — As a way of unlocking the future of young people, Belemaoil Producing Limited, together with the Nigerian National Petroleum Company, NNPC, have awarded scholarships worth over N700 million to 374 students from its host communities in Rivers State. The beneficiaries comprise of 121 secondary schools students, …

The post 374 students benefit from Belemaoil/NNPC scholarship in Rivers appeared first on SweetCrudeReports.

More »
Read More »

Ajaokuta, NIOMCO: Nigeria squander N700m on financial audit in 2015

Ajaokuta, NIOMCO: Nigeria squander N700m on financial audit in 2015

OpeOluwani Akintayo 30 January 2018, Sweetcrude, Lagos — A fresh investigation by SweetcrudeReports has uncovered how over N700 million Naira was squandered on a nationwide financial audit of Ajaokuta Steel Company Limited, ASCL and the National Iron Ore Mining Company, NIOMCO in 2015. A document obtained shows that the contract which was among the five …

The post Ajaokuta, NIOMCO: Nigeria squander N700m on financial audit in 2015 appeared first on SweetCrudeReports.

More »
Read More »

Monday, 29 January 2018

OPEC’s cut agreement boosts oil price by at least $25

OPEC’s cut agreement boosts oil price by at least $25

OpeOluwani Akintayo with Agency report 29 January 2018, Sweetcrude, Lagos — Russia’s Deputy Prime Minister, Arkady Dvorkovich, has said the ongoing cut agreement between the Organisation of the Petroleum Exporting Countries, OPEC, and Russia, has added at least $25 to the current oil price. The minister told news media, TASS on the sideline of the …

The post OPEC’s cut agreement boosts oil price by at least $25 appeared first on SweetCrudeReports.

More »
Read More »

DisCos providing forum accommodation doesn’t hamper judgment- NERC clears air

DisCos providing forum accommodation doesn’t hamper judgment- NERC clears air

OpeOluwani Akintayo 29 January 2018, Sweetcrude, Lagos — The Nigerian Electricity Regulatory Commission, NERC has said provision of consumer forum accommodation by the Electricity Distribution Companies, DisCos across the country does not in any way influence its handling of customer disputes. NERC cleared the air through his official Twitter handle, @NERC on Monday following accusations …

The post DisCos providing forum accommodation doesn’t hamper judgment- NERC clears air appeared first on SweetCrudeReports.

More »
Read More »

AfDB to reach 29.3m Africans with electricity by 2020

AfDB to reach 29.3m Africans with electricity by 2020

*Adesina says 3.8 million Africans provided access to electricity in 2017 *Plans for 10,000 MW of solar power systems across the Sahel 29 January 2018, Sweetcrude, Addis Ababa, Ethiopia − In line with its High 5 development priorities and, in particular, its agenda to Light up and power Africa, the African Development Bank plans to …

The post AfDB to reach 29.3m Africans with electricity by 2020 appeared first on SweetCrudeReports.

More »
Read More »

Gbaramatu monarch urges govt to kick start maritime university

Gbaramatu monarch urges govt to kick start maritime university

Michael James 29 January 2018, Sweetcrude, Lagos — The Pere of Gbararmatu Kingdom, His Majesty, Oboro-Gbaraun 11, Aketekpe, Agadagba, Warri South West Local Government Area of Delta State and His Royal Majesty, Suo Vi, the Olaja-Orori of Ugborodo Clan at the weekend urged the Federal Government to kick-start the Nigerian Maritime University, Okerenkoko without further …

The post Gbaramatu monarch urges govt to kick start maritime university appeared first on SweetCrudeReports.

More »
Read More »

Equities: Forte Oil, Eterna, Oando top gainers’ chart 

Equities: Forte Oil, Eterna, Oando top gainers’ chart 

Michael James 29 January 2018, Sweetcrude, Lagos – Monday’s trading activities on the floor of Nigerian Stock Exchange for energy companies saw  Forte Oil, Eterna and Oando topping the chart for gainers Top Gainers  Forte Oil 0.6% Eterna  0.43%

The post Equities: Forte Oil, Eterna, Oando top gainers’ chart  appeared first on SweetCrudeReports.

More »
Read More »

ExxonMobil to release 4th quarter, full year 2017 financial results

ExxonMobil to release 4th quarter, full year 2017 financial results

29 January 2018, Sweetcrude, Houston, Texas – ExxonMobil Corporation says it will release fourth quarter and full year 2017 financial results on Friday, February 2, 2018. The company said in statement on Monday that a press release will be issued via Business Wire and available at 7 a.m. CT atwww.exxonmobil.com. Jeff Woodbury, vice president of …

The post ExxonMobil to release 4th quarter, full year 2017 financial results appeared first on SweetCrudeReports.

More »
Read More »

Federation owes NNPC N170.6bn outstanding subsidy payments

Federation owes NNPC N170.6bn outstanding subsidy payments

The corporation called on the Senate Downstream Committee to assist in ensuring that the outstanding debt was settled to enable NNPC effectively achieve its obligation as the supplier of last resort to the downstream sector.

The post Federation owes NNPC N170.6bn outstanding subsidy payments appeared first on SweetCrudeReports.

More »
Read More »

Kaduna refinery shuts down due to lack of crude oil

Kaduna refinery shuts down due to lack of crude oil

He noted that the Fuel Plant which was commissioned in 1980 was functioning at 60 per cent capacity, "but shut down on January 15 due to unavailability of crude oil".

The post Kaduna refinery shuts down due to lack of crude oil appeared first on SweetCrudeReports.

More »
Read More »

Oil dips but still set for strongest January in five years

Oil dips but still set for strongest January in five years

29 January 2018, London — Oil eased below $70 a barrel on Monday as rising U.S. output undermined efforts led by OPEC and Russia to tighten supplies, but prices were still on track for their strongest start to the year in five years. Brent crude futures LCOc1 were down by 77 cents to $69.75 a …

The post Oil dips but still set for strongest January in five years appeared first on SweetCrudeReports.

More »
Read More »

OPEC daily basket price close at $67.94/b

OPEC daily basket price close at $67.94/b

29 January 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $67.94 a barrel on Friday, compared with $68.46 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial …

The post OPEC daily basket price close at $67.94/b appeared first on SweetCrudeReports.

More »
Read More »

Nigeria’s Buhari urges halt in ransom payments to terrorists

Nigeria’s Buhari urges halt in ransom payments to terrorists

*President wants African leaders to compile terrorist database *Boko Haram and other African jihadist groups collect ransoms 29 January 2018, Addis Ababa — Nigerian President Muhammadu Buhari urged his fellow African leaders to collaborate to stop ransom payments and all forms of financing for terrorist networks on the continent. The leader of Africa’s most populous …

The post Nigeria’s Buhari urges halt in ransom payments to terrorists appeared first on SweetCrudeReports.

More »
Read More »

Oil markets firm on strong demand, ongoing OPEC-led supply restraint

Oil markets firm on strong demand, ongoing OPEC-led supply restraint

29 January 2018, Singapore — Oil prices held firm on Monday, supported by strong demand, a weak dollar and ongoing supply cuts lead by OPEC and Russia, although soaring U.S. output means many analysts expect crude prices to fall later in the year. U.S. West Texas Intermediate (WTI) crude futures CLc1 were at $66.34 a …

The post Oil markets firm on strong demand, ongoing OPEC-led supply restraint appeared first on SweetCrudeReports.

More »
Read More »

Shell buying spree cranks up race for clean energy

Shell buying spree cranks up race for clean energy

29 January 2018, London — Royal Dutch Shell has spent over $400 million on a range of acquisitions in recent weeks, from solar power to electric car charging points, cranking up its drive to expand beyond its oil and gas business and reduce its carbon footprint. The scale of the buying spree pales in comparison …

The post Shell buying spree cranks up race for clean energy appeared first on SweetCrudeReports.

More »
Read More »

Nigerian oil workers task govt on new oil & gas projects

Nigerian oil workers task govt on new oil & gas projects

Mkpoikana Udoma 29 January 2018, Sweetcrude, Port Harcourt — The Federal Government has been urged to especially commence new projects in the oil and gas sector, while it consolidates on the gains achieved in the sector in 2017. Chairman, PENGASSAN and NUPENG Joint Committee on Petroleum Industry Bill, PIB, Mr. Chika Onuegbu, told our correspondent …

The post Nigerian oil workers task govt on new oil & gas projects appeared first on SweetCrudeReports.

More »
Read More »