Wednesday, 18 July 2018

IPMAN members free to attend NIPCO’s AGM – Secretary

IPMAN members free to attend NIPCO’s AGM – Secretary
17 July 2018, Abuja — The Independent Petroleum Marketers Association of Nigeria (IPMAN) says its members, who are shareholders of NIPCO Plc, are free to attend the company’s 2018 Annual General Meeting. More »
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Shell lifts force majeure on Bonny Light exports

Shell lifts force majeure on Bonny Light exports
OpeOluwani Akintayo 18 July 2018, Sweetcrude, Lagos — The Shell Petroleum Development Company, SPDC, has lifted force majeure on the export of Nigeria’s largest and best crude grade, Bonny Light. More »
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NSE trading: Marginal gain for energy companies

NSE trading: Marginal gain for energy companies
17 July 2018, Sweetcrude, Lagos — Wednesday’s trading on the floor of the Nigerian Stock Exchange ended with marginal gain for one of the energy companies on the Exchange. More »
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Shell Nigeria lifts force majeure on Bonny Light exports

Shell Nigeria lifts force majeure on Bonny Light exports
OpeOluwani Akintayo 18 July 2018, Sweetcrude, Lagos — Shell Petroleum Development Company, SPDC has lifted a force majeure on the export of Nigeria’s largest and best crude oil grade, Bonny Light. More »
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Petrobras’ oil and gas production edges down in June

Petrobras’ oil and gas production edges down in June
18 July 2018, News Wires — Brazil’s Petrobras said that its oil and natural gas production, including natural gas liquids (NGL), was 2. More »
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South Korea’s Hyundai Heavy scores $744m Greek LNG carrier order

South Korea’s Hyundai Heavy scores $744m Greek LNG carrier order
18 July 2018, News Wires — South Korean shipbuilding giant Hyundai Heavy Industries said Tuesday it won a contract to build four liquefied natural gas (LNG) carriers for Capital Gas Carrier Corp. More »
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Shell seeking permit to import LNG into Indonesia

Shell seeking permit to import LNG into Indonesia
18 July 2018, News Wires — The Hague-based LNG giant Shell with partners is looking for a government approval to import liquefied natural gas into Indonesia. More »
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Cabotage Law: NIMASA begins clamp down of non-compliant vessels

Cabotage Law: NIMASA begins clamp down of non-compliant vessels
Vincent Toritseju 18 July 2018, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency (NIMASA) said that it has started arresting vessels for violating provisions of the Cabotage Law demanding that Nigerians should be employed onboard vessels. More »
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Equatorial Guinea cancel with Canadian CHC Helicopters

Equatorial Guinea cancel with Canadian CHC Helicopters
*Urges oil companies to comply with local content regulations 18 July 2018, Sweetcrude, Malabo, Equatorial Guinea — The Ministry of Mines and Hydrocarbons of Equatorial Guinea has mandated all petroleum operators to cancel all contracts with Canadian-based CHC Helicopters, over noncompliance with the country’s national content regulations. More »
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Local & international financial markets, products & services update

Local & international financial markets, products & services update
18 July 2018, Sweetcrude, Lagos — The local and international financial markets, products, and services update. More »
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HOSTCOM urges IOCs to end casualisation in oil communities

HOSTCOM urges IOCs to end casualisation in oil communities
Lucky Omas 18 July 2018, Sweetcrude, Warri, Delta State — Host Communities of Nigeria producing oil and gas, HOSTCOM has called on the international oil companies in the Niger Delta region to stop employing oil community youths as casual workers. More »
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Nigeria Petroleum Industry Reforms: Elements of the PHICB

Nigeria Petroleum Industry Reforms: Elements of the PHICB
Prof Chijioke Nwaozuzu & Isreal Onyije 18 July 2018, Sweetcrude, Port Harcourt — One of the fora for informing Petroleum Host and Impacted Communities on the content of the Bill was organized by Emerald Energy Institute (For Petroleum & Energy Economics, Policy, and Strategic Studies) EEI, University of Port Harcourt, under the auspices of FOSTER … More »
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GE Power releases whitepaper on DET&D in Africa

GE Power releases whitepaper on DET&D in Africa
*Smart grids will play a key role in the region’s transition to a sustainable energy system through facilitating smooth integration of new energy sources •White paper highlights future of smart energy in Sub-Saharan countries, its challenges, and opportunities •Discusses role of smart technology to transform grids and the way energy is generated, distributed, traded, managed … More »
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OPEC daily basket price close at $71.90 per barrel

OPEC daily basket price close at $71.90 per barrel
17 July 2018, Sweetcrude, Vienna, Austria — The price of the Organization of Petroleum Exporting Countries, OPEC basket of fifteen crudes stood at $71. More »
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Rivers youths seek govt jobs after ending illegal refinery biz

Rivers youths seek govt jobs after ending illegal refinery biz
Mkpoikana Udoma 18 July 2018, Sweetcrude, Port Harcourt — Youths in Bolo Community, Ogu/Bolo Local Government Area of Rivers State, have called on the Federal Government to provide them employment opportunities, after stopping them from indulging in oil theft and illegal refinery business. More »
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Weekly SweetcrudeReports/Guardian collaboration July 18 2018

Weekly SweetcrudeReports/Guardian collaboration July 18 2018
Read the Weekly SweetcrudeReports/Guardian collaboration More »
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Customs woos importers, exporters on use of eastern ports

Customs woos importers, exporters on use of eastern ports
Mkpoikana Udoma 18 July 2018, Sweetcrude, Port Harcourt — The Nigerian Customs Service, NCS, says it plans to use best practices to set eastern ports apart from other seaports in the country in revenue generation. More »
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Proposed law to protect Ajaokuta Steel from private interests, govt interruptions

Proposed law to protect Ajaokuta Steel from private interests, govt interruptions
18 July 2018, Sweetcrude, Abuja — Lagos — The Ajaokuta Steel Company Limited, ASCL, is about to have its own law to protect it from private interests and government interruptions, among others, SweetcrudeReports has learnt. More »
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Nigeria: Spending on fuel import rises 182% in 3 months

Nigeria: Spending on fuel import rises 182% in 3 months
Ike Amos 18 July 2018, Sweetcrude, Abuja — Nigeria recorded a significant growth in its spending on fuel importation in the first quarter of 2018, rising by 182. More »
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Again, Rivers govt shuts NDDC HQ over unpaid taxes

Again, Rivers govt shuts NDDC HQ over unpaid taxes
Mkpoikan Udoma 18 July 2018, Sweetcrude, Port Harcourt — The Rivers State Internal Revenue Service, RIRS, on Tuesday shut down the head office of the Niger Delta Development Commission, NDDC, in Port Harcourt for the second time, over unpaid taxes. More »
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Fashola directs NBET, BPE on Discos’ remittances, debt payments

Fashola directs NBET, BPE on Discos’ remittances, debt payments
OpeOluwani Akintayo 18 July 2018, Sweetcrude, Lagos — Minister of Power, Works and Housing, Babatunde Fashola, has directed the Nigerian Bulk Electricity Trading, NBET, to work with the Bureau of Public Enterprises, BPE, to fashion out ways to ensure that the electricity distribution companies or Discos improve their collection remittance and also start to pay their … More »
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Non-measurement of oil export volume negatively impacting revenue – NASC

Non-measurement of oil export volume negatively impacting revenue – NASC
Vincent Toritseju 18 July 2018, Sweetcrude, Lagos — A group under the aegis of the National Association of Stevedoring Companies, NASC, has queried the non-involvement of stevedores in the measurement and loading of crude oil exported from the country, saying this is negatively affecting the nation’s earnings. More »
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300 sacked workers back at work – NUPENG

300 sacked workers back at work – NUPENG
18 July 2018, Sweetcrude, Abuja — Port Harcourt — The National Union of Petroleum and Natural Gas Workers, NUPENG, has confirmed that its 300 members sacked by 12 oil companies, including OES Deepsea Offshore Limited, have gone back to work. More »
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Tuesday, 17 July 2018

NSE trading: Oando, Mobil, Capoil in losers’ chart

NSE trading: Oando, Mobil, Capoil in losers’ chart
                17 July 2018, Sweetcrude, Lagos — Major oil marketing companies Oando, Mobil Plc (now Double 1 or 11 Plc) and Capital Oil recorded losses in Tuesday’s trading at the Nigerian Stock Exchange. More »
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OPEC to maintain key oil supplier status through 2040 – Wood Mackenzie

OPEC to maintain key oil supplier status through 2040 – Wood Mackenzie
17 July 2018, News Wires — The Organization of Petroleum Exporting Countries (OPEC) will continue to remain a key crude oil supplier up to 2040, natural resource consultancy Wood Mackenzie has said, adding production from US Lower 48 – group of states which account a bulk of US oil production – will likely reach a … More »
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Oil prices rise from 3-mth low as more Norwegian oil workers strike

Oil prices rise from 3-mth low as more Norwegian oil workers strike
17 July 2018, News Wires — Brent crude prices rose from a three-month low on Tuesday after more oil workers went on strike in Norway, supporting a market that has been dominated by oversupply issues in recent days. More »
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U.S. shale oil output expected to hit record high in August – EIA

U.S. shale oil output expected to hit record high in August – EIA
17 July 2018, News Wires — U. More »
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South Korea’s June LNG imports rise YoY

South Korea’s June LNG imports rise YoY
17 July 2018, News Wires — Liquefied natural gas (LNG) imports into South Korea rose 8. More »
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Protesters at Iraq gas field demand jobs, better services

Protesters at Iraq gas field demand jobs, better services
17 July 2018, News Wires — About 200 protesters gathered at the main entrance to Iraq’s Siba natural gas field on Monday, police sources said, following more than a week of unrest over poor services sweeping southern cities amid political uncertainty. More »
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Ex-Venezuelan energy official pleads guilty in graft case

Ex-Venezuelan energy official pleads guilty in graft case
17 July 2018, Houston, Texas — A former official at a state-run electric company in Caracas, Venezuela, pleaded guilty Monday to money laundering conspiracy relating to an alleged multibillion-dollar graft scheme in the Venezuelan oil industry. More »
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Two Qatari LNG cargoes heading for Belgium

Two Qatari LNG cargoes heading for Belgium
17 July 2018, News Wires — The Fluxys-operated Zeebrugge liquefied natural gas terminal is scheduled to receive two cargoes of Qatari LNG. More »
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Gas explosion kills 3 children, injures 2 in Jigawa

Gas explosion kills 3 children, injures 2 in Jigawa
17 July 2018, Dutse — No fewer than three children have died in Sara Village in Gwaram LGA of Jigawa State, following a cooking gas cylinder explosion. More »
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Ladol’s CEO, Jadesimi speaks at UN HQ business forum

Ladol’s CEO, Jadesimi speaks at UN HQ business forum
OpeOluwani Akintayo 16 July 2018, Sweetcrude, Lagos — The Managing Director of LADOL, Dr. More »
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OPEC daily basket price close $71.90 per barrel

OPEC daily basket price close $71.90 per barrel
17 July 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $71. More »
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Rivers council boss tasks oil producing communities on dialogue

Rivers council boss tasks oil producing communities on dialogue
Mkpoikana Udoma 17 July 2018, Sweetcrude, Port Harcourt — Communities in Rivers State have been advised to make use of dialogue in settling differences with oil companies and other firms operating in their domain. More »
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Oando Crisis: Court asks Tinubu, Boyo to pay businessman N208bn

Oando Crisis: Court asks Tinubu, Boyo to pay businessman N208bn
*We are not indebted to anyone – Oando reacts OpeOluwani Akintayo 17 July 2018, Sweetcrude, Lagos — The three-member London Court of International Arbitration, LCIA, presided by David Midon, has asked Oando Plc Chief Executive Officer, Wale Tinubu, and his deputy, Mofe Boyo, to pay Ansbury Investments Inc. More »
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Fashola accuses Discos of not providing meters despite N37bn MAPs fund

Fashola accuses Discos of not providing meters despite N37bn MAPs fund
OpeOluwani Akintayo 17 July 2018, Sweetcrude, Lagos — Minister of Power, Works and Housing, Babatunde Fashola, has accused the electricity distribution companies, Discos, of failing to supply meters to electricity consumers after the government had made available N37 billion to the Meter Asset Providers, MAPs, for that purpose. More »
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Monday, 16 July 2018

China willing to invest $3bn in Nigerian oil operations -NNPC

China willing to invest $3bn in Nigerian oil operations -NNPC
16 July 2018, Abuja — China National Offshore Oil Corp (CNOOC) is willing to invest $3 billion in its existing oil and gas operation in Nigeria, the Nigerian National Petroleum Corporation, (NNPC) said following a meeting with the Chinese in Abuja. More »
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Cross River bio-diesel project to generate 14MW electricity — NNPC

Cross River bio-diesel project to generate 14MW electricity — NNPC
Ike Amos 16 July 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Monday, said the 26,000 hectares Cross River State oil palm-based bio-diesel project would help generate 14 megawatts of electricity. More »
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Energy companies kick off week’s trading on negative note

Energy companies kick off week’s trading on negative note
16 July 2018, Sweetcrude, Lagos — Monday’s trading at the Nigerian Stock Exchange began on a negative note for energy companies. More »
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US expected to become world’s top crude oil producer next year

US expected to become world’s top crude oil producer next year
16 July 2018, News Wires — The US has nosed ahead of Saudi Arabia and is on pace to surpass Russia to become the world’s biggest oil producer for the first time in more than four decades. More »
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Norway oil strike set to escalate: No compromise talks planned

Norway oil strike set to escalate: No compromise talks planned
16 July 2018, News Wires — Norway’s ship-owners and two oil unions said they planned no compromise talks to end a five-day strike over wages and pension benefits before a planned escalation of the stoppage from Monday. More »
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U.S. crude oil boom delivers surprise for traders – and it’s costly

U.S. crude oil boom delivers surprise for traders – and it’s costly
16 July 2018, News Wires — The world’s biggest oil traders are counting hefty losses after a surprise doubling in the price discount of U. More »
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US weekly LNG exports edge up

US weekly LNG exports edge up
16 July 2018, News Wires — Exports of liquefied natural gas (LNG) from the United States edged up since the last weekly report issued by the Energy Information Administration on June 28, LNG World News reports. More »
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Global warming: Nigeria among countries at risk as temperatures soar

Global warming: Nigeria among countries at risk as temperatures soar
16 July 2018, News Wires — Nigeria has been listed among countries most at risk as global warming brings more high temperatures, necessitating the need to keep people cool and preserve food and medicine. More »
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China’s economy slows down in Q2

China’s economy slows down in Q2
16 July 2018, News Wires — Chinese growth slowed slightly in the second quarter as the world’s number two economy faced a snowballing trade fight with the United States. More »
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FAAC wants NNPC stripped of revenue collection/remittance authority

FAAC wants NNPC stripped of revenue collection/remittance authority
OpeOluwani Akintayo 16 July 2018, Sweetcrude, Lagos — The Finance Commissioners’ Forum of the Federation Accounts Allocation Committee, FAAC have asked the government to strip the Nigerian National Petroleum Corporation, NNPC of the responsibilities to collect and remit oil royalties and petroleum profit tax, PPT. More »
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Local & international financial markets, products and services update

Local & international financial markets, products and services update
16 July 2018, Sweetcrude, Abuja — The local and international financial markets, products and services update. More »
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Iranian official urges Trump not to use U.S. strategic oil reserve

Iranian official urges Trump not to use U.S. strategic oil reserve
*U. More »
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OPEC will continue to play important role in oil market to 2040

OPEC will continue to play an important role in the oil market to 2040, according to a new report by Wood Mackenzie. More »
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OPEC daily basket price close at $72.15 per barrel

OPEC daily basket price close at $72.15 per barrel
16 July 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $72. More »
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