Tuesday, 31 July 2018

Eni commends govt, NNPC for improved security in Niger Delta

Eni commends govt, NNPC for improved security in Niger Delta
OpeOluwani Akintayo 01 August 2018, Sweetcrude, Lagos — Italian multinational oil company, Eni, has hailed the Nigerian government and the management of the Nigerian National Petroleum Corporation, NNPC, for improved security in the Niger Delta which has rubbed off positively on the operations of international oil companies, IOCs. More »
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Equities: Seplat tops gainers’ chart

Equities: Seplat tops gainers’ chart
31 July 2018, Sweetcrude, Lagos — Tuesday’s trading on the floor of the Nigerian Stock Exchange for energy companies ended with Seplat topping the gainers’ chart for the second day. More »
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India to launch second oil and gas field auction on August 9

India to launch second oil and gas field auction on August 9
31 July 2018, News Wires — The government plans to launch the auction of 60 oil and gas fields being offered in the second round of bidding for Discovered Small Field (DSF) on August 9, regulator DGH said. More »
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Workers at Total’s UK oil platforms stage strike over rotas

Workers at Total’s UK oil platforms stage strike over rotas
31 July 2018, News Wires — Workers at three of Total’s British offshore oil and gas platforms went ahead with a 12-hour strike on Monday, a spokesman for Unite said, with further industrial action planned if no agreement on new rotas is reached. More »
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Belgium books two Qatari LNG cargoes

Belgium books two Qatari LNG cargoes
31 July 2018, News Wires — Zeebrugge liquefied natural gas terminal operated by Fluxys has booked a pair of cargoes from Qatar for delivery in August. More »
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Oil prices to hold steady into 2019 as OPEC, U.S. weigh in

Oil prices to hold steady into 2019 as OPEC, U.S. weigh in
31 July 2018, Bengaluru — Oil prices are likely to hold fairly steady this year and next as increased output from OPEC and the U. More »
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World’s largest combined cycle power plants completed in record time

World’s largest combined cycle power plants completed in record time
• Plants add up to 14. More »
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Russia wins bid to host the 2022 World Energy Congress

Russia wins bid to host the 2022 World Energy Congress
31 July 2018, Sweetcrude, Lagos — The World Energy Council is pleased to announce Russia as the winner of the bid to host the 2022 World Energy Congress, the premier triennial gathering of the energy sector. More »
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IFC partners Gaia Energy to increase wind development across Africa

IFC partners Gaia Energy to increase wind development across Africa
31 July 2018, Sweetcrude, Casablanca, Morocco — IFC, a member of the World Bank Group, has forged a new partnership with Gaia Energy to create a joint platform for the development of wind power and other renewable energy projects in Africa. More »
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Report outlines global oil demand, production, reserves figures

Report outlines global oil demand, production, reserves figures
31 July 2018, Houston — Global oil demand grew by 1. More »
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Nigeria Navy nabs seven over crude oil theft, illegal bunkering

Nigeria Navy nabs seven over crude oil theft, illegal bunkering
Mkpoikana Udoma 31 July 2018, Sweetcrude, Port Harcourt — The Nigeria Navy Ship, NNS Pathfinder in Port Harcourt, has released a statement saying it has arrested seven suspects engaged in illegal oil bunkering in Okrika Local Government Area of Rivers State during a raid on a bunkering site allegedly belonging to a clergyman. More »
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OPEC daily basket price close at $73.53 per barrel

OPEC daily basket price close at $73.53 per barrel
31 July 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $73. More »
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Oil exploitation: Expert says N’Delta at risk of diabetes epidemic

Oil exploitation: Expert says N’Delta at risk of diabetes epidemic
Mkpoikana Udoma 31 July 2018, Sweetcrude, Port Harcourt — As a result of the continuous environmental pollution orchestrated by crude oil exploration and exploitation activities, the Niger Delta region would face an outbreak of diabetes epidemic in the next ten years. More »
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Nigeria’s oil output rises by 50,000bpd in July

Nigeria’s oil output rises by 50,000bpd in July
OpeOluwani Akintayo 31 July 2018, Sweetcrude, Lagos — Nigeria’s crude oil output rose by 50,000 barrels per day in July. More »
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Inadequate margin, major challenge in fuel marketing in Nigeria – NIPCO Boss

Inadequate margin, major challenge in fuel marketing in Nigeria – NIPCO Boss
OpeOluwani Akintayo 31 July 2018, Sweetcrude, Lagos — Managing Director of NIPCO Plc, Sanjay Teotia, has said the main challenge with Nigeria’s oil and gas downstream industry stemmed from the lack of marketing margin for the Premium Motor Spirit, PMS, popularly known as Petrol. More »
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Monday, 30 July 2018

Nigeria’s Pension Fund soars to N8.14 trillion

Nigeria’s Pension Fund soars to N8.14 trillion
30 July 2018, Abuja — The National Pension Commission (PenCom) said that the total pension fund assets stood at N8. More »
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Equities: Five oil firms open week with gains

Equities: Five oil firms open week with gains
30 July 2018, Sweetcrude, Lagos — Monday’s trading activities on the floor of the Nigerian Stock Exchange ended with gains for five energy companies –  Seplat, Forte Oil, Eterna, Oando and Japual. More »
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HOSTCOM urges Govt, IOCs to encourage participation in oil operations

HOSTCOM urges Govt, IOCs to encourage participation in oil operations
Lucky Omas 30 July 2018, Sweetcrude, Warri, Delta State — Host communities of Nigeria Producing Oil and gas, HOSTCOM, have enjoined the federal government to encourage oil communities to actively participate in oil and gas activities in their communities. More »
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Oil prices mixed; WTI gains after strong U.S. growth figures

Oil prices mixed; WTI gains after strong U.S. growth figures
30 July 2018, News Wires — Oil prices were mixed on Monday with WTI rising on the back of strong U. More »
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Total: Biggest deep offshore development in Angola starts production

Total: Biggest deep offshore development in Angola starts production
30 July 2018, Luanda — Total revealed that it has started production at Kaombo, which it describes as “currently the biggest deep offshore development in Angola”. More »
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Saudi’s SABIC CEO says Aramco acquisition talks are only with PIF

Saudi’s SABIC CEO says Aramco acquisition talks are only with PIF
30 July 2018, News Wires — Talks on the potential acquisition of a stake in Saudi Basic Industries Corp are taking place solely between national oil firm Saudi Aramco and the kingdom’s top sovereign wealth fund, SABIC’s chief executive said on Sunday. More »
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Essar secures $50m financing from MCB, Trafigura for OPL 226

Essar secures $50m financing from MCB, Trafigura for OPL 226
Ike Amos 30 July 2018, Sweetcrude, Abuja — Nigerian Oil firm, Essar Exploration and Production Limited has secured a $50 million project financing and offtake deal from The Mauritius Commercial Bank Limited (MCB) and Trafigura PTE Limited, for the development of Oil Prospecting License (OPL) 226 in the Niger Delta region. More »
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OPEC daily basket price close at $73.69 per barrel

OPEC daily basket price close at $73.69 per barrel
30 July 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $73. More »
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Mechanical work on Dangote Refinery for completion next year

Mechanical work on Dangote Refinery for completion next year
30 July 2018, Sweetcrude, Lagos — Mechanical work on the Dangote Refinery in the Lekki area of Lagos would be completed next year, in readiness for the takeoff of the plant in 2020. More »
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DPR issues 10 gas production licenses

DPR issues 10 gas production licenses
30 July 2018, Sweetcrude, Lagos — The Department of Petroleum Resources, DPR, says it issued ten licences and approval for development of gas production and processing facilities in 2017. More »
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It’s illegal to subject anyone to molestation during strike – Ngige

It’s illegal to subject anyone to molestation during strike – Ngige
30 July 2018, Sweetcrude, Abuja — Minister of Labour and Employment, Dr. More »
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Sunday, 29 July 2018

Strike at Total’s UK offshore oil platforms set for Monday – Union

Strike at Total’s UK offshore oil platforms set for Monday – Union
29 July 2018, London — A 12-hour strike at Total’s offshore oil and gas platforms in the North Sea will go ahead as planned on July 30, a spokesman for Britain’s Unite the Union said on Friday, adding that no further talks with Total were currently planned. More »
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Presidency to return Ajaokuta Steel to original builder, Russia

Presidency to return Ajaokuta Steel to original builder, Russia
OpeOluwani Akintayo 29 July 2018, Sweetcrude, Lagos — Following the exit of the former minister of steel and solid minerals, Kayode Fayemi from office to run for the governorship of his state, Ekiti, SweetcrudeReports has learnt that the Presidency will return operation of the Ajaokuta Steel to its original builder, Russia. More »
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U.S. drillers add oil rigs for first week in three – Baker Hughes

U.S. drillers add oil rigs for first week in three – Baker Hughes
29 July 2018, Houston, Texas — U. More »
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Lopez Obrador seeks to boost Mexico oil output to 2.5 mb/d

Lopez Obrador seeks to boost Mexico oil output to 2.5 mb/d
29 July 2018, Mexico City — Mexican president-elect Andres Manuel Lopez Obrador said on Friday his administration will look to boost the country’s crude oil production to 2. More »
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Oando Plc shareholders approve 2017 audited financial statement

Oando Plc shareholders approve 2017 audited financial statement
*Re-elects 3 retired directors OpeOluwani Akintayo 29 July 2018, Sweetcrude, Lagos — Shareholders of the indigenous oil company, Oando Plc have approved the audited financial statement and of the Group for the year ended, December 31, 2017. More »
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Saudi Aramco weighing global bond sale for first time

Saudi Aramco weighing global bond sale for first time
29 July 2018, Dubai/London — Saudi Aramco is weighing tapping the international bond market for the first time to finance the acquisition of petrochemical giant Sabic, a move into global capital markets that could offer an alternative to an initial public offering, according to people familiar with the talks. More »
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Nigeria’s prepaid meters distribution increases by 6% Q1 2018

Nigeria’s prepaid meters distribution increases by 6% Q1 2018
OpeOluwani Akintayo 29 July 2018, Sweetcrude, Lagos — The Total number of consumers with prepaid meters increased by 6. More »
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Saturday, 28 July 2018

Creation of more agencies, not solution to maritime security – Dr. Peterside

Creation of more agencies, not solution to maritime security – Dr. Peterside
Vincent Toritseju 28 July 2018, Sweetcrude, Lagos — The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. More »
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Global discovered resources increase by 30%, led by Guyana

Global discovered resources increase by 30%, led by Guyana
28 July 2018, London — Discovered resources globally of conventional oil and natural gas surpassed 4. More »
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Department of Petroleum Resources sees no end to gas flaring

Department of Petroleum Resources sees no end to gas flaring
*Nigeria commercialises 11% of gas production OpeOluwani Akintayo 28 July 2018, Sweetcrude, Lagos — There cannot be an end to gas flaring globally. More »
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Nigeria has potential to generate 300MW from gas flared

Nigeria has potential to generate 300MW from gas flared
*139 gas flaring sites located across country OpeOluwani Akintayo 28 July 2018, Sweetcrude, Lagos — The Department of Petroleum Resources, DPR, has said Nigeria has the potential to generate 300 megawatts of electricity from its current gas being flared in the country. More »
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Nigerian govt signs $3b gas flare commercialisation bill

Nigerian govt signs $3b gas flare commercialisation bill
*Gas flare commercialization licenses to be issued Q1 2019 OpeOluwani Akintayo 28 July 2018, Sweetcrude, Lagos — The Nigerian government has signed the $3 billion Nigerian Gas Flare Commercialisation, NGFC bill into law setting the stage for the rapid monetisation of the country’s substantial gas reserves. More »
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OML 58: 555 benefits from Total’s 2018 skills acquisition programme

OML 58: 555 benefits from Total’s 2018 skills acquisition programme
Mkpoikana Udoma 28 July 2018, Sweetcrude, Port Harcourt — No less than 555 youths and women in Ogba/Egbema/Ndoni LGA of Rivers State, are set to benefit from a skills acquisition programme organised by Total Exploration and Production Nigeria, TEPNG, as part of its corporate social responsibility to its OML58 host communities. More »
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Trump’s plan for U.S. LNG in Europe to face reality check

Trump’s plan for U.S. LNG in Europe to face reality check
28 July 2018, News Wires — Frankfurt/London: More »
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Equinor posts profit drop in second quarter

Equinor posts profit drop in second quarter
28 July 2018, News Wires — Norwegian energy giant and LNG operator, Equinor posted a slight drop in its net profit for the second quarter of 2018, despite higher prices and high international production. More »
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Shell’s profit, LNG sales rise

Shell’s profit, LNG sales rise
28 July 2018, News Wires — The Hague-based LNG giant Shell reported an increase in profit for the second quarter and the first half of the year as Integrated Gas and Upstream businesses’ contributions rise. More »
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TechnipFMC scores Gorgon subsea gig

TechnipFMC scores Gorgon subsea gig
28 July 2018, News Wires — Engineering giant TechnipFMC has been awarded a subsea installation contract by Chevron’s Australian unit for the Gorgon Stage Two development. More »
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EU intends to buy more US LNG

EU intends to buy more US LNG
28 July 2018, News Wires — The European Commission’s president Jean-Claude Juncker held talks with the United States president Donald Trump during a visit to the White House. More »
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ExxonMobil earns $4bn in Q2 2018

ExxonMobil earns $4bn in Q2 2018
28 July 2018, Sweetcrude, Houston, Texas — Exxon Mobil Corporation Friday announced estimated second quarter 2018 earnings of $4 billion, or $0. More »
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Oil markets inch down after three days of gains

Oil markets inch down after three days of gains
28 July 2018, News Wires — Oil prices edged down on Friday after three days of gains, but were still supported by Saudi Arabia’s halt on transporting crude through a key shipping lane, falling U. More »
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Total’s profit soars on higher oil prices, LNG sales decline

Total’s profit soars on higher oil prices, LNG sales decline
28 July 2018, News Wires — French energy giant and LNG player Total saw its second-quarter adjusted net profit soar on the back of increasing oil prices. More »
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Friday, 27 July 2018

Forte, Oando, Japaul end week’s trading with gain

Forte, Oando, Japaul end week’s trading with gain
  27 July 2018, Sweetcrude, Lagos — Friday’s trading on the floor of the Nigerian Stock Exchange ended with gain for three energy companies. More »
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FG raises N748bn from oil tax, royalty in 2017 – DPR

FG raises N748bn from oil tax, royalty in 2017 – DPR
27 July 2018, Lagos — The Department of Petroleum Resources (DPR) said the Federal Government earned N748 billion from taxes and royalties paid by oil and gas companies operating in Nigeria in 2017. More »
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NIMASA committee to strategize on development Nigeria’s Blue economy

NIMASA committee to strategize on development Nigeria’s Blue economy
Vincent Toritseju 27 July 2018, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency, NIMASA, has set up a Committee of Stakeholders to map out strategies to develop Nigeria’s Blue Economy. More »
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