Friday, 21 September 2018

DPR seals seven filling stations in Rivers over misconduct

DPR seals seven filling stations in Rivers over misconduct
Mkpoikana Udoma 21 September 2018, Sweetcrude, Port Harcourt — The Department of Petroleum Resources, DPR, has sealed off seven filling stations in Port Harcourt, the Rivers State capital, for violation of the agency’s operating guidelines. More »
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China diesel demand picks up at fastest pace in at least five years

China diesel demand picks up at fastest pace in at least five years
21 September 2018, News Wires — China’s diesel demand will grow at its fastest in at least five years as a pick-up in diesel-intensive sectors in the world’s second-biggest economy coincides with lower output from domestic refineries, several sources and analysts said. More »
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South Africa’s cabinet approves new mining charter

South Africa’s cabinet approves new mining charter
21 September 2018, News Wires — South Africa’s cabinet approved a long-delayed mining charter that sets out requirements for black ownership levels and backed the withdrawal of a mining bill after industry opposition, a minister said on Thursday. More »
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Shell wins LNG deal to supply Chinese firm’s power plant in Panama

Shell wins LNG deal to supply Chinese firm’s power plant in Panama
ses21 September 2018, News Wires — Royal Dutch Shell Plc has won a long-term contract to provide liquefied natural gas to a Chinese company’s 441 megawatt power plant under construction in Colon, Panama, advisors on the deal said. More »
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Rivers State University repairs & commission mini-refinery equipment

Rivers State University repairs & commission mini-refinery equipment
Mkpoikana Udoma 21 September 2018, Sweetcrude, Port Harcourt — The Department of Chemical and Petrochemical Engineering in the Rivers State University has resuscitated and commissioned a mini-refinery equipment which has been obsolete for more than 30-years. More »
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Egypt inks $352 mln deal with Siemens to manage power stations

Egypt inks $352 mln deal with Siemens to manage power stations
21 September 2018, Cairo —  Egypt on Thursday signed a $352 million contract with Siemens AG and Siemens Technologie to manage three gigantic new power plants built to plug a gap in Egypt’s electricity needs, state news agency MENA reported. More »
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Kenya assembly backs halving of fuel tax amid anger at living costs

Kenya assembly backs halving of fuel tax amid anger at living costs
21 September 2018, News Wires — Kenya’s parliament on Thursday backed the halving of a new value added tax on oil products, bowing to complaints by Kenyans squeezed by high prices, but the move drew protests from some lawmakers who want the levy scrapped altogether. More »
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ABB named global leader in enterprise asset management across the power value-chain

ABB named global leader in enterprise asset management across the power value-chain
ARC Advisory market study declares ABB the world’s No. More »
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OPEC daily basket crude price closes at $77.13 per barrel

OPEC daily basket crude price closes at $77.13 per barrel
21 September 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $77. More »
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In U-turn, Exxon, Chevron to join industry climate initiative

In U-turn, Exxon, Chevron to join industry climate initiative
21 September 2018, News Wires — Exxon Mobil, Chevron and Occidental Petroleum are joining a group of major international oil and gas companies in an initiative aimed at curbing carbon emissions in the sector, they said in a statement on Thursday. More »
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Italian court convicts two in Nigeria’s Malabu oil corruption case

Italian court convicts two in Nigeria’s Malabu oil corruption case
21 September 2018, Sweetcrude, Lagos — A Milan judge on Thursday sentenced two men to four years in prison in the first ruling of a corruption case involving oil giants Eni and Shell in Nigeria, a judicial source said. More »
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Kaduna Electric installs over 130 transformers in 9 months

Kaduna Electric installs over 130 transformers in 9 months
21 September 2018, Sweetcrude, Lagos — Kaduna Electric says it has, in collaboration with its contractors, installed over 130 new distribution transformers worth millions of naira for use by individuals, organizations and various communities under its franchise this year. More »
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Thursday, 20 September 2018

Nigerian National Petroleum Corp records N17bn trading surplus in one month

Nigerian National Petroleum Corp records N17bn trading surplus in one month
Ike Amos 20 September 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Thursday, announced a significant improvement in its bottom line, as its trading surplus appreciated by 46. More »
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Now near 100 million bpd, when will oil demand peak?

Now near 100 million bpd, when will oil demand peak?
20 September 2018, News Wires — Sometime in the next few weeks, global oil consumption will reach 100 million barrels per day (bpd) – more than twice what it was 50 years ago – and it shows no immediate sign of falling. More »
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Oil prices ease as Trump tweets warning at OPEC

Oil prices ease as Trump tweets warning at OPEC
20 September 2018, News Wires — Oil prices eased on Thursday, slowing an upward surge that had pushed the market towards four-year highs, after U. More »
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GE says four of its flagship power turbines are shut down in U.S.

GE says four of its flagship power turbines are shut down in U.S.
20 September 2018, News Wires — General Electric Co said on Thursday that four of its new flagship power turbines in the United States have been shut down due to an “oxidation issue” and warned it expects the problem to affect 51 of the giant machines it has shipped, sending shares lower. More »
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New U.S. LNG projects, enough to double exports, on verge of launch

New U.S. LNG projects, enough to double exports, on verge of launch
20 September 2018, London — New U. More »
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Demand for Slovakia’s Eastring gas pipeline could hit 12 bcm in first year -study

Demand for Slovakia’s Eastring gas pipeline could hit 12 bcm in first year -study
20 September 2018, News Wires — Slovakia’s proposed Eastring gas pipeline, aimed at reducing southeastern Europe’s reliance on Russian supplies, could be operational by 2025 and draw initial demand of 12 billion cubic metres (bcm) a year, according to a feasibility study. More »
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$3.3bn Egina FPSO preparing for first oil in December 2018

$3.3bn Egina FPSO preparing for first oil in December 2018
OpeOluwani Akintayo 20 September 2018, Sweetcrude, Lagos — The $3. More »
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Remittance income will drive economic growth for Africa

Remittance income will drive economic growth for Africa
*Despite an economic slowdown, most African countries are reported to have a positive economic outlook. More »
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U.S. LNG to China cheaper than other origins despite tariff – sources

U.S. LNG to China cheaper than other origins despite tariff – sources
20 September 2018, News Wires — Shipments of liquefied natural gas (LNG) from the United States to China remain cheaper than other sources despite a 10 percent tariff that was imposed on the cargoes this week in the trade war between the two nations, industry sources said on Wednesday. More »
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Norway’s Aker bets on software engineers for its oil business

Norway’s Aker bets on software engineers for its oil business
20 September 2018, News Wires — When the owners of Norwegian oil firm Aker BP decided to digitize its assets and operations, they searched high and low for the right software company. More »
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Russian oil firm seeks dollar alternative amid U.S. sanctions threat: traders

Russian oil firm seeks dollar alternative amid U.S. sanctions threat: traders
20 September 2018, News Wires — Russian oil producer Surgutneftegaz is pushing buyers to agree to pay for oil in euros instead of dollars if the need arises, apparently as insurance against possible tougher U. More »
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AfDB debars Geo Sciences for 48 months for fraudulent practices

AfDB debars Geo Sciences for 48 months for fraudulent practices
*The Office of Integrity and Anti-Corruption of the African Development Bank found the company to have engaged in numerous fraudulent practices 20 September 2018, Sweetcrude, Abidjan, Côte d’Ivoire –- The African Development Bank Group has announced the debarment of GEO SCIENCES INTERNATIONAL SARL, a consulting firm based in Yaoundé, Cameroon, for a minimum period of 48 … More »
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Italy court finds Saipem guilty in Algeria graft case, acquits Eni

Italy court finds Saipem guilty in Algeria graft case, acquits Eni
20 September 2018, News Wires — A court has found Italian oil services group Saipem and a former CEO guilty of corruption in a long-running trial over bribes in Algeria, but it acquitted oil major Eni. More »
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China and U.S. energy officials tout cooperation, despite tariffs

China and U.S. energy officials tout cooperation, despite tariffs
20 September 2018, Houston, Texas — Energy trade with China will remain strong in the long-term, officials said on Wednesday at a China-U. More »
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NNPC to conclude funding arrangements for Ajaokuta-Kaduna-Kano pipeline

NNPC to conclude funding arrangements for Ajaokuta-Kaduna-Kano pipeline
Ike Amos 20 September 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Wednesday, said it was set to wrap up funding arrangements on the Ajaokuta-Kaduna-Kano (AKK) gas pipeline project. More »
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Nigerian Navy scores effort high in fight against oil theft

Nigerian Navy scores effort high in fight against oil theft
Lucky Omas 20 September 2018, Sweetcrude, Warri, Delta State — The Nigerian Navy has scored its effort high in the fight against oil theft in the Niger Delta, saying its Operation Tsare-Teku launched two years ago against maritime insecurity has helped in reducing incidents of crude oil theft in the region. More »
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U.S. crude stockpiles fall for a fifth week to 2015 lows -EIA

U.S. crude stockpiles fall for a fifth week to 2015 lows -EIA
20 September 2018, News Wires — U. More »
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OPEC daily basket crude price closes at $77.06 per barrel

OPEC daily basket crude price closes at $77.06 per barrel
20 September 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $77. More »
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$1.3 Malabu scandal: Shell, Eni to know fate today

$1.3 Malabu scandal: Shell, Eni to know fate today
OpeOluwani Akintayo, with agency report 20 September 2018, Sweetcrude, Lagos — Multinational oil companies Shell and Eni will know their fate Thursday (today) in the ongoing $1. More »
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Shell calls for dialogue on Belema Flow Station crisis

Shell calls for dialogue on Belema Flow Station crisis
…PANDEF alleges invasion of communities by oil company Mkpoikana Udoma 20 September 2018, Sweetcrude, Port Harcourt — The Shell Petroleum Development Company of Nigeria Limited, SPDC, has denied allegations of invading OML 25 host communities, which have unlawfully occupied the company’s production facilities at Belema Flow Station and Gas Plant. More »
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NERC introduces uniform account system for licensees in power sector

NERC introduces uniform account system for licensees in power sector
OpeOluwani Akintayo 20 September 2018, Sweetcrude, Lagos — The Nigerian Electricity Regulatory Commission, NERC, has introduced a uniform account system for licensees in the Nigeria Electricity Supply Industry, NESI. More »
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Wednesday, 19 September 2018

Three gainers, one loser in Wednesday’s trading

Three gainers, one loser in Wednesday’s trading
19 September 2018, Sweetcrude, Lagos — Forte Oil, Japaul Oil and Oando were the top gainers in Wednesday’s trading activities on the floor of Nigerian Stock Exchange for energy companies. More »
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Qatar Petroleum CEO: LNG is destination fuel

Qatar Petroleum CEO: LNG is destination fuel
19 September 2018, News Wires — The role of natural gas, due to its environmental qualities is not only a transitional fuel but a destination fuel, according to Qatar Petroleum’s president and CEO Saad Sherida Al-Kaabi. More »
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Novatek expands resource base for Arctic LNG 2

Novatek expands resource base for Arctic LNG 2
  19 September 2018, News Wires — Russia’s largest independent natural gas producer Novatek said two new hydrocarbon deposits were discovered at the Utrenneye field owned by its unit Arctic LNG 2. More »
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Platts edges closer to dated Brent revamp with European pricing for U.S. oil

Platts edges closer to dated Brent revamp with European pricing for U.S. oil
19 September 2018, News Wires — Oil pricing agency S&P Global Platts has moved closer to revamping its dated Brent benchmark, launching new price assessments for two grades of U. More »
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KBR, ConocoPhillips partner on mid-scale LNG solutions

KBR, ConocoPhillips partner on mid-scale LNG solutions
19 September 2018, News Wires — US LNG engineer KBR and compatriot ConocoPhillips are working on the design of a mid-scale liquefied natural gas train that is expected to be available for new projects starting in 2019. More »
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U.S. oil prices jump as fifth weekly stock draw adds to supply concerns

U.S. oil prices jump as fifth weekly stock draw adds to supply concerns
19 September 2018, New York — U. More »
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OPEC daily basket crude price closes at $76.09 per barrel

OPEC daily basket crude price closes at $76.09 per barrel
19 September 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $76. More »
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NPA, Guangzhou port of China sign MOU on port synergy

NPA, Guangzhou port of China sign MOU on port synergy
Vincent Toritseju 19 September 2018, Sweetcrude, Lagos — The Nigerian Ports Authority, NPA and the Guangzhou Ports Authority of China yesterday signed a Memorandum of Understanding, MoU, to establish a Sister port relationship and the sharing of best practices and expertise in port operations. More »
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NNPC admits scarcity of funds for oil and gas projects

NNPC admits scarcity of funds for oil, gas projects
Ike Amos 19 September 2018, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Tuesday, admitted that securing funds to finance major projects in the oil and gas industry is becoming challenging, hence its decision to resort to contractor-financing option. More »
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Brazilian diesel subsidy programme threatens Petrobras, market -FCStone

Brazilian diesel subsidy programme threatens Petrobras, market -FCStone
19 September 2018, News Wires — Brazil could face a diesel shortage at the end of this year or state-controlled oil company Petroleo Brasileiro may be forced to eat losses on fuel sales thanks to a faulty diesel subsidy programme, analyst and broker INTL FCStone said on Tuesday. More »
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PANDEF condemns alleged Shell invasion of seized flow station

PANDEF condemns alleged Shell invasion of seized flow station
*Shell calls for dialogue on Belema Flow Station & Gas Plant Mkpoikana Udoma 19 September 2018, Sweetcrude, Port Harcourt — The Pan Niger Delta Elders Forum, PANDEF, has condemned the alleged forceful invasion of Belema flow station and gas plant by security operatives on the alleged orders of Shell Petroleum Development Company, SPDC. More »
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China’s CNOOC starts new oil production at Penglai field

China’s CNOOC starts new oil production at Penglai field
19 September 2018, News Wires — China’s CNOOC Ltd started producing crude oil at 1/3/8/9 block of the Penglai 19-3 oilfield off north China’s Bohai Bay, the company said in a statement on Tuesday The new block currently has two wells in production and daily output is expected to reach a peak rate of 58,700 barrels … More »
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Germany to build LNG plant in “gesture” to U.S. drive to sell more

Germany to build LNG plant in “gesture” to U.S. drive to sell more
19 September 2018, Brussels — Germany will chose where to build a liquefied natural gas (LNG) terminal by the end of 2018 as a gesture to the United States which wants to ship more gas to Europe, the economy minister said on Tuesday. More »
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China sets tariff on U.S. LNG just as exports ramp up

China sets tariff on U.S. LNG just as exports ramp up
19 September 2018, News Wires — China has set a 10 percent tariff on imports of U. More »
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U.S. East Coast gasoline prices steady despite unit shutdowns

U.S. East Coast gasoline prices steady despite unit shutdowns
19 September 2018, New York — Strong gasoline inventories on the U. More »
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Ogoni cleanup: Submission of technical, financial proposals to end Sept 24

Ogoni cleanup: Submission of technical, financial proposals to end Sept 24
Mkpoikana Udoma 19 September 2018, Sweetcrude, Port Harcourt — The Federal Government says the submission of  technical proposals and financial bid documents by pre-qualified companies for Ogoni cleanup will end by September 24, 2018. More »
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OPEC sitting on 2.7 mb/d spare production, says IEA

OPEC sitting on 2.7 mb/d spare production, says IEA
… 60% in Saudi Arabia OpeOluwani Akintayo 19 September 2018, Sweetcrude, Lagos — The International Energy Agency, IEA, has said members of the Organization of the Petroleum Exporting Countries, OPEC, are sitting on about 2. More »
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