Sunday, 17 June 2018

Iran oil payment route to be blocked for India from November

Iran oil payment route to be blocked for India from November

17 June 2018, News Wires – India will from November not be able to use European banks for making payments for crude oil it buys from Iran as US sanctions against the Persian Gulf nation take effect, senior officials said today. State Bank of India (SBI), the country’s largest lender, has communicated to oil refiners …

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India’s first technology transfer pact for lithium-ion batteries signed

India’s first technology transfer pact for lithium-ion batteries signed

17 June 2018, New Delhi – An agreement on first transfer of technology for lithium-ionbatteries was signed here on Sunday between the government-runCentral Electro Chemical Research Institute (CECRI) and RAASI Solar PowerPvt Ltd, an official statement said on Sunday. According to the Science and Technology Ministry statement, this memorandum of understanding is the first of …

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Understanding the elements of the Petroleum Industry Governance Bill

Understanding the elements of the Petroleum Industry Governance Bill

ANALYSIS Prof. Chijioke Nwaozuzu 17 June 2018, Sweetcrude, Lagos — The oil and gas industry has been the pivot on which the Nigerian economy has depended for decades. This sector accounts for more than 80% of foreign exchange revenue but contributes less than 20% to the nation’s gross domestic product (GDP). In spite of the huge …

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Oil slumps 3 percent on OPEC supply, China’s tariffs

Oil slumps 3 percent on OPEC supply, China’s tariffs

17 June 2018, New York — Oil prices fell more than $2 a barrel Friday after two of the world’s biggest producers indicated they might increase output at next week’s OPEC meeting, while U.S. exports were threatened by potential Chinese tariffs on crude oil and refined products. Oil investors have been nervous ahead of the …

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Nigeria’s power generation drops by 1,087MW over gas constraint

Nigeria’s power generation drops by 1,087MW over gas constraint

OpeOluwani Akintayo 17 June 2018, Sweetcrude, Lagos — Power generation and transmission to the national grid in-country has dropped by 1, 087 Megawatts due to gas supply constraints, the Transmission Company of Nigeria has revealed. The disclosure was contained in a statement sent to SweetcrudeReports by the management of the Transmission Company of Nigeria, TCN …

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Nigerians paid an average N167 for transportation fare in May

Nigerians paid an average N167 for transportation fare in May

OpeOluwani Akintayo 17 June 2018, Sweetcrude, Lagos — According to newly released statistics by the Nigerian Bureau of Statistics, NBS, average fare paid by commuters for bus journey within the city increased by 0.53% month-on-month and 32.71% year-on-year to N166.85 in May 2018 from N165.94 in April 2018. The Transport fare Watch report for May …

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Germany says G20 countries must ‘get out of coal’, natgas can be bridge

Germany says G20 countries must ‘get out of coal’, natgas can be bridge

17 June 2018, News Wires – Member nations of the Group of 20 “have to get out of coal” to reduce greenhouse (GHG) emissions and fight climate change, while natural gas can be a bridge fuel, Germany’s director of energy policy Thorsten Herdan said on Friday. Speaking at a press conference at the close of …

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Saturday, 16 June 2018

Argentina to begin exporting natural gas to Chile by end of 2018

Argentina to begin exporting natural gas to Chile by end of 2018

16 June 2016, News Wires — Argentina will begin exporting natural gas to neighboring Chile before the end of the year, the energy ministers of both countries said on Thursday, as output from the Vaca Muerta shale field rises. The two South American countries had previously signed deals allowing for the export of gas or …

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China threatens to levy tariffs on U.S. energy exports

China threatens to levy tariffs on U.S. energy exports

16 June 2018, Beijing — Beijing surprised oil markets with threats to levy tariffs on imports of U.S. crude oil, natural gas and other energy products on Friday, just as China has risen to the top of the list of importers of oil from the United States. China responded to $50 billion in tariffs imposed …

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Venezuela oil exports to China slump, may hit lowest in 8-years

Venezuela oil exports to China slump, may hit lowest in 8-years

16 June 2018, Beijing/Singapore/New Delhi — China’s imports of Venezuelan crude oil could sink to their lowest in nearly eight years in July as the OPEC producer struggles with shrinking output and mounting logistics issues, according to people familiar with the matter and shipping data. State-controlled PetroChina expects June loadings from Venezuela, mainly the Merey …

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Gov. Dickson wants Buhari to fast track Brass LNG project

Gov. Dickson wants Buhari to fast track Brass LNG project

Mkpoikana Udoma 16 June 2018, Sweetcrude, Port Harcourt — In order to expand the revenue base of the country, Bayelsa State Governor, Chief Seriake Dickson, has charged President Muhammadu Buhari to fast-track the development of the $22 billion Brass Liquefied Natural Gas, LNG, and refinery projects. The charge comes barely two weeks after the House …

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NIMASA advocates better living conditions for dockers

NIMASA advocates better living conditions for dockers

Vincent Toritseju   16 June 2018, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency (NIMASA) has restated its commitment to the welfare of dock workers in the maritime industry urging employers to ensure better working conditions for this category of maritime stakeholders. Speaking at a meeting of the National Joint Industrial Council (NJIC) …

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Oil holds a narrow range as OPEC meeting looms

Oil holds a narrow range as OPEC meeting looms

16 June 2018, News Wires – Oil prices were little changed in early Asian trade on Friday, as investors eyed a key OPEC meeting in Vienna and Saudi Arabiaand Russia, architects of a producer deal to cut output, indicated they want production to rise. Brent crude was down 3 cents at $75.91 a barrel by …

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IBEDC warns customers against illegal connections

IBEDC warns customers against illegal connections

OpeOluwani Akintayo 16 June 2018, Sweetcrude, Lagos – The management of Ibadan Electricity Distribution Company, IBEDC, has appealed to customers within its network to desist from engaging in illegal connections during the festive period to save lives and properties. Mrs. Angela Olanrewaju, the Head of Branding and Corporate Communications, IBEDC, gave the warning in a …

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European Union energy chief sees Ukraine, Russia gas talks in early July

European Union energy chief sees Ukraine, Russia gas talks in early July

16 June 2018, News Wires – The European Union is seeking a date in early July to mediate talks between Russia and Ukraine over future gas transit to Europe once their contract expires in 2019, the EU’s energy chief told Reuters. Russia’s expansion of the Nord Stream 2 gas pipeline directly to Germany and the construction of …

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Friday, 15 June 2018

Rivers community decries prolonged environmental degradation

Rivers community decries prolonged environmental degradation

Mkpoikana Udoma 15 June 2018, Sweetcrude, Port Harcourt — One of the communities severely impacted by hydrocarbon pollution in Ogoniland, Bomu community in Gokana Local Government Area of Rivers State, has lamented that despite its enormous contributions to the nation’s economy in the past, her land remains devastated and polluted. The community disclosed this in …

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Two universities benefit from Total’s art exhibition in Rivers

Two universities benefit from Total’s art exhibition in Rivers

Mkpoikana Udoma 15 June 2018, Sweetcrude, Port Harcourt — A total of 32 students from the University of Port Harcourt and the Ignatius Ajuru University of Education, had the opportunity to exhibit their artworks in Total’s 2018 Art Exhibition, organised by Total Exploration and Production Nigeria Limited. The exhibition which lasted for two days in …

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Oil falls as focus moves to prospect of higher supply

Oil falls as focus moves to prospect of higher supply

15 June 2018, London — Oil prices fell on Friday ahead of an OPEC meeting in Vienna next week as two of the world’s biggest producers, Saudi Arabia and Russia, indicated they were prepared to increase output. Benchmark Brent crude oil LCOc1 fell by $1.07 a barrel to a low of $74.87 before recovering to …

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Three Chinese firms bid for Ibom deep seaport project

Three Chinese firms bid for Ibom deep seaport project

Mkpoikana Udoma 15 June 2018, Sweetcrude, Port Harcourt – As plans to bring the Ibom Deep Seaport project into reality gathers momentum, three Chinese firms are already bidding for the development of the seaport project. The firms bidding for the project are Bollore and Power China, China Road Breach Corporation and China Harbour Engineering Company. Chairman, …

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Sallah: DAPPMA assures 24-hours product availability

Sallah: DAPPMA assures 24-hours product availability

15 June 2018, Lagos – The Depot and Petroleum Products Marketers Association (DAPPMA) has assured 24-hours petroleum products availability and loading to filling stations across the country during the sall holidays. Mr Olufemi Adewole, Executive Secretary of DAPPMA gave the assurance in an interview with the News Agency of Nigeria (NAN) in Lagos, on Thursday. …

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Aveon Offshore delivers OLT buoy for Egina project

Aveon Offshore delivers OLT buoy for Egina project

…NCDMB says Total pushing boundaries of local content OpeOluwani Akintayo 15 June 2018, Sweetcrude, Lagos – Aveon Offshore has recorded a new Nigerian Content feat with the fabrication of another Offshore Loading Terminal, OLT, buoy made in Nigeria and the first to be delivered ahead of schedule and launched on a dedicated slid way. The Executive Secretary, …

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Thursday, 14 June 2018

Buhari to sign 2018 budget next week—Adesina

Buhari to sign 2018 budget next week—Adesina

14 June 2018, Abuja – The Special Adviser to the President on Media and Publicity, Mr Femi Adesina, has revealed that President Muhammadu Buhari will sign the 2018 budget next week. Adesina said this when he briefed State House correspondents on the outcome of the Federal Executive Council (FEC) meeting held on Wednesday at the …

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EU reinforces position at the forefront of global energy transformation

EU reinforces position at the forefront of global energy transformation

14 June 2018, Sweetcrude, Abu Dhabi — Adnan Z. Amin, Director-General of the International Renewable Energy Agency (IRENA) has welcomed the European Union’s (EU) decision to increase its renewable energy target from 27 per cent to 32 per cent by 2030. He noted that the move reinforces the EU’s position at the forefront of energy …

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Lloyd’s Register and TWI launch Fullagar Technologies

Lloyd’s Register and TWI launch Fullagar Technologies

*Delivering high-tech innovative inspection systems, products and services based on the very latest industry R&D 14 June 2018, Sweetcrude, London/Cambridge – Lloyd’s Register (LR), one of the world’s leading providers of professional services for engineering and technology, and TWI, the leading independent research and technology organisation, today announced the launch of Fullagar Technologies. The joint …

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OPEC daily basket price close at $73.35 per barrel

OPEC daily basket price close at $73.35 per barrel

14 June 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $73.35 a barrel on Wednesday, compared with $74.11 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 …

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MDB climate finance hit $35.2 billion record high in 2017

MDB climate finance hit $35.2 billion record high in 2017

*An increase of 30% on the previous year, boosting projects that help developing countries cut emissions and address climate risks 14 June 2018, Sweetcrude, Houston, Texas — The MDBs’ latest joint report on climate financing said US$ 27.9 billion, or 79 per cent of the 2017 total, was devoted to climate mitigation projects that aim …

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Nigerian govt signs MoU with China on solid mineral exploration

Nigerian govt signs MoU with China on solid mineral exploration

OpeOluwani Akintayo 14 June 2018, Sweetcrude, Lagos — The federal government has signed a Memorandum of Understanding, MoU with China on solid mineral exploration. According to Acting Minister of Mines and Steel Development, Abubakar Bwari, the deal was signed with the East China Metallurgical Institute. Explaining reason behind the deal, Bwari said although Nigeria had …

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Sahara Power forum urges cooperation among stakeholders

Sahara Power forum urges cooperation among stakeholders

OpeOluwani Akintayo 14 June 2018, Sweetcrude, Lagos — Despite the challenges impeding its development, Nigeria’s energy sector still holds enormous potentials to deliver the desired expectations and further stimulate socio-economic growth if stakeholders deepen their collaboration and commitment to developing the sector. This was the submission of delegates at the maiden edition of the Sahara …

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Three Chinese firms bid for Ibom deep seaport project

Three Chinese firms bid for Ibom deep seaport project

Mkpoikana Udoma 14 June 2018, Sweetcrude, Port Harcourt — As plans to bring the Ibom Deep Seaport project into reality gathers momentum, three Chinese firms are already bidding for the development of the seaport project. The firms bidding for the project are, Bollore and Power China, China Road Breach Corporation and China Harbour Engineering Company. …

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Nigeria signs MoU with China on solid mineral exploration

Nigeria signs MoU with China on solid mineral exploration

OpeOluwani Akintayo 14 June 2018, Sweetcrude, Lagos – The Nigerian government has signed a Memorandum of Understanding, MoU, with China on solid mineral exploration. According to Acting Minister of Mines and Steel Development, Abubakar Bwari, the deal was signed with the East China Meteorological Institute. Explaining the reason behind the deal, Bwari said although Nigeria had …

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Klappa resigns as Addax Petroleum Managing Director

Klappa resigns as Addax Petroleum Managing Director

…Chen takes over OpeOluwani Akintayo 14 June 2018, Sweetcrude, Lagos – Chinese-owned oil firm, Addax Petroleum Development Nigeria Ltd, on Wednesday, announced the resignation of its Senior Vice President/ Managing Director, Mr. Colin Klappa from the company. Mrs. Dorothy Atake, General Manager, External and Government Affairs disclosed this in a statement made available to newsmen in …

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Wednesday, 13 June 2018

Congo to promote licence round phase 2 at Africa Oil Week 2018

Congo to promote licence round phase 2 at Africa Oil Week 2018

13 June 2018, Sweetcrude, London, United Kingdom — Africa Oil Week and the Ministry of Hydrocarbons of the Republic of Congo today announced the promotion of the Congo-Brazzaville Licence Round Phase 2 2018/19 at Africa Oil Week, 5th – 9th November 2018. Congo Minister of Hydrocarbons, Jean-Marc Thystère Tchicaya stated, “With the support of PGS and …

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Klappa resigns as Addax Petroleum Development Nigeria MD

Klappa resigns as Addax Petroleum Development Nigeria MD

*As Chen takes over OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos — Chinese-owned oil firm, Addax Petroleum Development Nigeria Ltd, on Wednesday, announced the resignation of its Senior Vice President/ Managing Director, Mr. Colin Klappa from the company. Mrs. Dorothy Atake, General Manager, External, and Government Affairs disclosed this in a statement made available to …

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NDDC tasks oil producing communities on peace, stability

NDDC tasks oil producing communities on peace, stability

Mkpoikana Udoma 13 June 2018, Sweetcrude, Port Harcourt — The Managing Director of the Niger Delta Development Commission, NDDC, Dr Nsima Ekere, has charged Traditional Rulers of Oil Mineral Producing Communities of Nigeria, to promote peace, stability and security to aid the development process of the region. Ekere speaking when the newly elected national executives …

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Nigerian govt commits to support oil & gas sector research

Nigerian govt commits to support oil & gas sector research

Mkpoikana Udoma 12 June 2018, Sweetcrude, Port Harcourt — The Nigerian Government has said that it is willing to partner Nigerians who intend to make landmark achievements through research in the nation’s oil and gas sector. The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, disclosed this while commissioning a state-of-the-art laboratory for oil …

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ABB commissions historical power interconnector in Canada

ABB commissions historical power interconnector in Canada

*Maritime Link HVDC project completed, enabling the exchange of clean, reliable electricity between the Islands of Newfoundland and Nova Scotia in the North American grid 13 June 2018, Sweetcrude, Houston, Texas — ABB has completed the Maritime Link, formally handing over the interconnector to Emera, a leading energy and services company headquartered in eastern Canada. …

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Wave and tidal power: Success under 10MW

Wave and tidal power: Success under 10MW

Dr Peter Harrop IDTechEx 13 June 2018, Sweetcrude, Lagos — The new IDTechEx report, “Wave, Tidal and Hydro Power 1W-10MW 2018-2038” observes that the main investors in water power – governments, utilities etc. – seek something that may become large in gross sales value. This can be accomplished by involving very large grid projects rather …

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NNPC/Shell Cup announces scholarship for Most Valuable Player

NNPC/Shell Cup announces scholarship for Most Valuable Player

*As two MVPs return from training tour in The Netherlands 13 June 2018, Sweetcrude, Lagos — One of the most outstanding players in the 2017 edition of the annual NNPC/Shell Cup, Ernest Ojelum, has won an International Summer School Scholarship to the United Kingdom. The announcement coincided with a reception to welcome Ernest and the …

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‎IYC wants Buhari to restructure Nigeria, allow resource control

‎IYC wants Buhari to restructure Nigeria, allow resource control

Mkpoikana Udoma 13 June 2018, Sweetcrude, Port Harcourt — The Ijaw Youth Council, IYC worldwide, has called on President Muhammadu Buhari to take further steps to address the key principles of the June 12 struggle, by restructuring the country on the path of true federalism, where the federating units would be the engine room to …

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ExxonMobil’s senior vice president retires

ExxonMobil’s senior vice president retires

13 June 2018, News Wires – US energy giant ExxonMobil said its senior vice president Mishael Dolan is planning to retire effective August 1, following 38 years of service, LNG World News reports Dolan was elected to his current position as senior vice president and a member of the corporation’s management committee in 2008. He held …

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There’s no justification for illegal refinery – Gov. Dickson

There’s no justification for illegal refinery – Gov. Dickson

Mkpoikana Udoma 13 June 2018, Sweetcrude, Port Harcourt — Bayelsa State Governor, Chief Henry Seriake Dickson, has said that there was no justification for operating illegal refineries, which further degrade and pollute the already compromised Niger Delta environment. To this end, the governor said plans were underway by the state government to set up a task …

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Ikoyi, environs to experience power interruption- EKEDC

Ikoyi, environs to experience power interruption- EKEDC

OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos — The Eko Electricity Distribution Company on Tuesday announced a four-hours daily power interruption to Ikoyi and other adjoining areas in Lagos Island for the next one week. Mr. Godwin Idemudia, the General Manager, Corporate Communications, of the company disclosed this in a statement made available to newsmen in Lagos. According …

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NERC grants Ariaria market 9.5MW electricity generation, distribution license

NERC grants Ariaria market 9.5MW electricity generation, distribution license

OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos — The Nigerian Electricity Regulatory Commission, NERC, has granted Ariaria market in Aba, Abia State, a 9.5 megawatts embedded electricity generation and distribution license. In a statement sent to SweetCrudeReports on Tuesday, the commission said the move was in pursuit of “overriding public interest”. According to NERC, the generation license …

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Nigerian crude found in floating storage in Europe

Nigerian crude found in floating storage in Europe

…Struggle to find buyers for July cargoes continues OpeOluwani Akintayo, with agency reports 13 June 2018, Sweetcrude, Lagos — Nigeria’s crude has shown up in floating storage in northwest Europe, tracking report by Reuters has shown. According to the report, the country’s crude had continued in the storage for the last three weeks, indicating an oversupplied …

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Nigerian crude exports to fall to 2018 low in July

Nigerian crude exports to fall to 2018 low in July

13 June 2018, London — Nigeria’s oil exports are expected to fall in July to just 1.43 million barrels per day (bpd), loading plans showed on Monday, the lowest level so far this year. The export plan comprised 48 cargoes, compared with 60 cargoes and a daily rate of 1.796 million bpd in June, due …

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Aiteo’s Nembe creek pipeline force majeure further threatens Bonny light exports

Aiteo’s Nembe creek pipeline force majeure further threatens Bonny light exports

OpeOluwani Akintayo, with agency reports 13 June 2018, Sweetcrude, Lagos –– Loading of Nigerian crude grade, Bonny Light, for export is currently suffering further delay due to force majeure declared by operators of the Nembe Creek Trunk Line. The Nembe Creek Trunk Line, one of the key pipelines which carries Bonny Light, closed on Friday for repairs, …

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Nigeria gains one oil rig in April

Nigeria gains one oil rig in April

…World rig count crashes by 90 OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos –– The number of oil rigs working in Nigeria increased by just one in April, statistics obtained by SweetcrudeReports from the Organisation of the Petroleum Exporting Countries, OPEC, have shown. According to the OPEC’s Monthly Oil Market Report, MOMR, for April, the country’s rig count …

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Nigerians paid an average of N150 for petrol in May

Nigerians paid an average of N150 for petrol in May

OpeOluwani Akintayo 13 June 2018, Sweetcrude, Lagos — Nigerians paid an average price of N150.2 for premium motor spirit (petrol) in May, data from the National Bureau of Statistics, NBS’, Premium Motor Spirit (Petrol) Price Watch for May 2018 has shown. According to the report, average price paid by consumers for petrol decreased by -0.3% year-on-year …

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Tuesday, 12 June 2018

Global LNG trade grows 10 pct in 2017 as U.S., Australia boost exports

Global LNG trade grows 10 pct in 2017 as U.S., Australia boost exports

12 June 2018, News Wires – Global liquefied natural gas (LNG) trade grew by 10 percent last year due primarily to growing liquefaction capacity in the Australia and the United States, the U.S. Energy Information Administration (EIA) has said. LNG trade reached 38.2 billion cubic feet per day (bcfd) in 2017, up 3.5 bcfd from …

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ABB to install multipurpose microgrid in Australia

ABB to install multipurpose microgrid in Australia

*ABB Ability™ microgrid will enable the ESCRI project in South Australia to strengthen the power grid and improve power reliability 12 June 2018, Sweetcrude, Houston, Texas — ABB will supply a microgrid solution to the Energy Storage for Commercial Renewable Integration (ESCRI) project, which will provide a more secure power supply in an area that …

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