Wednesday, 17 October 2018

Outokumpu steel plant in Finland hit by four radiation incidents since July – watchdog

Outokumpu steel plant in Finland hit by four radiation incidents since July – watchdog
17 October 2018, News Wires — Outokumpu’s Tornio facility in Finland, one of Europe’s biggest steel plants, has suffered four radiation contamination incidents since July, the country’s nuclear watchdog STUK said on Tuesday. In the latest incident, a batch of scrap metal at the plant was found on Oct. 12 to contain americium, a radioactive … More »
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Average price of 5kg cooking gas increases by 2.60% in September

Average price of 5kg cooking gas increases by 2.60% in September
OpeOluwani Akintayo 17 October 2018, Sweetcrude, Lagos — Average price for the refilling of a 5kg cylinder for Liquefied Petroleum Gas (Cooking Gas) increased by 2.60% month-on-month and 10.26% year-on-year to N2,107.48 in September 2018 from N2,054.14 in August 2018. Statistics from the National Bureau of Statistics, NBS, said states with the highest average price … More »
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IFC offers innovative Nigeria-based start-ups new initiative

IFC offers innovative Nigeria-based start-ups new initiative
17 October 2018, Sweetcrude, Lagos — IFC, a member of the World Bank Group, and Egypt’s Ministry of Investment and International Cooperation (MIIC) put out a last call today to Nigerian start-ups to apply for a new initiative designed to strengthen the entrepreneurship ecosystem across Africa. The deadline for applications is October 21, 2018. Interested … More »
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OPEC daily basket crude price closes at $79.02 per barrel

OPEC daily basket crude price closes at $79.02 per barrel
17 October 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $79.02 a barrel on Tuesday, compared with $79.31 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), Djeno (Congo), Oriente (Ecuador), … More »
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ABB wins $18 million transformer order from Indian railways

ABB wins $18 million transformer order from Indian railways
*To supply traction transformers for most powerful electric passenger locomotives 17 October 2018, Sweetcrude, Lagos — ABB has won an order of about $18 million from Indian Railways to supply traction transformers. These transformers are customized for the WAP-7 type electric locomotive. The 6000 horsepower strong locomotive can haul 24 coaches at speeds of up … More »
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German network companies join up to build power-to-gas plant

German network companies join up to build power-to-gas plant
17 October 2018, News Wires — German power and gas network companies TenneT, Thyssengas and Gasunie Deutschland said they plan to build a 100 megawatt (MW) plant to turn renewable energy into gas for industrial use in the Ruhr region. The plant in Lower Saxony would be the biggest power-to-gas plant (ptg) in Germany and … More »
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Devon Energy sees higher U.S. output in third quarter

Devon Energy sees higher U.S. output in third quarter
17 October 2018, News Wires — Shale producer Devon Energy on Tuesday forecast higher U.S. production for the third quarter from a year earlier, helped by an increase in output of natural gas liquids. Devon now expects output of about 418,000 barrels of oil-equivalent per day boe/d, up from 403,000 boe/d it reported, a year … More »
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Indonesia, Malaysia leads Southeast Asia in upcoming oil & gas projects

Indonesia, Malaysia leads Southeast Asia in upcoming oil & gas projects
17 October 2018, Sweetcrude, Lagos — A total of 47 crude and natural gas projects are slated to commence operations in six Southeast Asian countries over the period 2018 to 2025. Among the countries, Malaysia and Indonesia are set to lead in terms of planned and announced oil and gas projects during the forecast period, … More »
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West Texas pipeline to resume on schedule after spill: company

West Texas pipeline to resume on schedule after spill: company
17 October 2018, News Wires — Energy Transfer Partners LP said on Monday that a West Texas pipeline would resume operations on Saturday as planned after the pipeline spilled water with nontoxic green dye and residual crude oil near Abilene, Texas. The spill, which began mid-day Sunday, went into Button Willow Creek and then into … More »
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Russia no longer capping oil output increases – Gazprom Neft

Russia no longer capping oil output increases – Gazprom Neft
17 October 2018, News Wires — The Russian government is no longer capping oil output increases by local producers, one of the country’s top energy companies Gazprom Neft said on Tuesday, signalling that Moscow’s supply-restraint pact with OPEC has effectively expired for now. Deputy chief executive Vadim Yakovlev told a briefing in London that the … More »
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China’s CNPC agrees to cooperate on oil and gas with Norway’s Equinor

China’s CNPC agrees to cooperate on oil and gas with Norway’s Equinor
17 October 2018, News Wires — China’s top energy group CNPC agreed on Monday with Norwegian company Equinor to cooperate on oil and gas exploration, renewables and carbon capture technology, company executives said on Tuesday. China and Norway agreed to resume full diplomatic relations in 2016 following a row over the Norwegian Nobel Committee awarding … More »
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Brazil’s Petrobras, China’s CNPC sign accord advancing venture

Brazil’s Petrobras, China’s CNPC sign accord advancing venture
17 October 2018, News Wires — Brazilian state-run oil firm Petroleo Brasileiro SA and China National Petroleum Corp Ltd have signed an agreement to study the economic viability of completing construction of the Comperj refinery in Rio de Janeiro, another step in the Chinese government getting a refining foothold in the Americas. Petrobras, as the … More »
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Germany to help Belgium with power supplies this winter

Germany to help Belgium with power supplies this winter
17 October 2018, News Wires — Belgium and Germany agreed on Tuesday to cooperate on ensuring secure power supplies to Belgium this winter amid a shutdown of most of the nuclear-reliant country’s reactors. Belgium has reached out to neighbouring countries for commitments of energy imports to avoid a power shortage from six of the seven … More »
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Mexico’s Lopez Obrador pushes Big Oil to hurry, but offers little

Mexico’s Lopez Obrador pushes Big Oil to hurry, but offers little
17 October 2018, News Wires — At his first meeting with foreign oil majors, Mexico’s leftist president-elect pushed the companies to prove themselves by quickly pumping oil from recent finds, sources say, but gave no sign of offering up new fields to reverse dwindling output. President-elect Andres Manuel Lopez Obrador repeated a promise to respect more than 100 existing contracts … More »
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Osisioma pipeline explosion: Abia youths give NNPC 24 hours to refute vandalism claims

Osisioma pipeline explosion: Abia youths give NNPC 24 hours to refute vandalism claims
Mkpoikana Udoma 17 October 2018, Sweetcrude, Port Harcourt — The Osisioma Ngwa Youth Congress in Abia State has issued a 24-hour ultimatum to the Nigerian National Petroleum Corporation, NNPC, to refute its claim that the pipeline explosion on its system 2E network which claimed the lives of over 100 people in Osisioma, near the corporation’s Aba … More »
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NNPC denies having custody of $3.5bn petroleum subsidy

NNPC denies having custody of $3.5bn petroleum subsidy
Ike Amos 17 October 2018, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation, NNPC, denied claims that it has $3.5 billion subsidy fund in its custody. In a statement in Abuja, Group General Manager, Group Public Affairs Division of the NNPC, Mr. Ndu Ughamadu, explained that at the height of the shortage of products supply … More »
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NLNG has awarded scholarships to 2,956 students, says Mai-Bornu

NLNG has awarded scholarships to 2,956 students, says Mai-Bornu
Mkpoikana Udoma 17 October 2018, Sweetcrude, Port Harcourt — The Nigeria LNG Limited, NLNG, has awarded scholarships to 2,956 undergraduates in various universities in the country, the company’s deputy managing director, Sadeeq Mai-Bornu, has said. He disclosed this at the first NLNG Scholars Day in commemoration of the company’s interventions in education through scholarships. NLNG offers … More »
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Non-OPEC producers gaining market share – OPEC

Non-OPEC producers gaining market share – OPEC
OpeOluwani Akintayo 17 October 2018, Sweetcrude, Lagos — Fresh data obtained from the Organization of the Petroleum Exporting Countries, OPEC, have shown that more crude oil supply from non-OPEC producers is increasingly finding its way into the international market. This insight comes on the heels of call by US President Donald Trump on OPEC to … More »
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DPR tasks oil and gas operators on safety, best practices

DPR tasks oil and gas operators on safety, best practices
Mkpoikana Udoma 17 October 2018, Sweetcrude, Port Harcourt — Worried by fire incidents in upstream petroleum operations, the Department of Petroleum Resources, DPR, says it has set up a mechanism to monitor activities in the sector, to ensure that standards are maintained in line with global best practices. This is coming after a rig fire incident … More »
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Rivers council boss promises transformers to communities

Rivers council boss promises transformers to communities
Mkpoikana Udoma 17 October 2018, Sweetcrude, Port Harcourt — Three communities in Obio/Akpor Local Government Area of Rivers State have been assured of getting electricity transformers. The communities are Rukpokwu, Rumuokwachi and Ozuoba. Chairman of the local government council, Mr. Solomon Eke, said the three communities had stated that transformer is what they needed and he … More »
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Weekly SweetcrudeReports/Guardian collaboration October 17, 2018

Weekly SweetcrudeReports/Guardian collaboration October 17, 2018
Read the Weekly SweetcrudeReports/Guardian collaboration – NCDMB sets up committee on expatriate quota management DOWNLOAD IT DOWNLOAD IT More »
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Tuesday, 16 October 2018

Oil steady as growth in U.S. supplies faces lower Iran exports

Oil steady as growth in U.S. supplies faces lower Iran exports
16 October 2018, News Wires — Oil prices were little changed on Tuesday as concerns about tightening global supplies ahead of U.S. sanctions on Iran faced higher U.S. shale production and inventories. The disappearance of a Saudi Arabian journalist Jamal Khashoggi in Turkey has also strained U.S.-Saudi ties and provoked international outcry and fears that … More »
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Brazil’s Petrobras expects to revive TAG deal over the next month: sources

Brazil’s Petrobras expects to revive TAG deal over the next month: sources
16 October 2018, News Wires — Brazil’s state-controlled oil company Petroleo Brasileiro SA expects to revive the sale of its pipeline operator TAG over the next month, if it can get a Supreme Court injunction lifted, with the support of the country’s solicitor-general, a person with knowledge of the matter said. In July, Petrobras, as the … More »
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Opel faces recall of 100,000 vehicles over diesel scandal

Opel faces recall of 100,000 vehicles over diesel scandal
16 October 2018, News Wires — German carmaker, Opel is currently facing tragedy of having around 100,000 of its vehicles recalled as a result of an emission probe, Reuters reports. Germany’s Transport Ministry said on Monday it would order recall of the vehicles after prosecutors searched the carmaker’s offices earlier in the day. According to Germany’s … More »
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DPR establishes mechanism to monitor & ensure safety in oil & gas 

DPR establishes mechanism to monitor & ensure safety in oil & gas 
Mkpoikana Udoma 16 October 2018, Sweetcrude, Port Harcourt — Worried by fire incidents in the upstream petroleum operations, the Department of Petroleum Resources, DPR, says it has set up a mechanism to monitor activities in the sector, to ensure that standards are maintained in line with global best practices. This is coming after a rig fire … More »
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German power grid firms cut renewable energy surcharge for 2019

German power grid firms cut renewable energy surcharge for 2019
16 October 2018, News Wires — A surcharge levied on German consumers to support renewable power will fall by 5.7 percent next year as funds collected to support green electricity are high and wholesale market prices have risen, network operators (TSOs) said on Monday. The surcharge under the renewable energy act (EEG) will amount to 6.405 … More »
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N130.7b subsidy debt: MOMAN says current business model unsustainable

N130.7b subsidy debt: MOMAN says current business model unsustainable
OpeOluwani Akintayo 16 October 2018, Sweetcrude, Lagos — The Chairman, Major Oil Marketers Association of Nigeria, and Managing Director, MRS Oil Nigeria Plc., Mr. Andrew Gbodume has described the current business model for the distribution of petroleum products in Nigeria is unsustainable. Mr. Gbodume who made the disclosure during a chat with journalists lamented the … More »
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China private group GCL hires CNOOC execs to fast-track gas business – sources

China private group GCL hires CNOOC execs to fast-track gas business – sources
16 October 2018, News Wires — China’s privately owned GCL Group Holding has hired senior officials from state oil and gas major CNOOC to fast-track its burgeoning natural gas business, three senior company officials said. GCL is planning a liquefied natural gas (LNG) export project in the African country of Djibouti and a LNG receiving terminal … More »
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OPEC daily basket crude price closes at $79.31 per barrel

OPEC daily basket crude price closes at $79.31 per barrel
16 October 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $79.31 a barrel on Monday, compared with $79.36 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), Djeno (Congo), Oriente (Ecuador), … More »
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Dust specialist launches most powerful gas-powered extractor to date

Dust specialist launches most powerful gas-powered extractor to date
16 October 2018, Sweetcrude, Lagos — Removing hazardous dust on an industrial scale has been made easier thanks to the UK’s leading dust extracting specialist launching a high performance, gas-powered extractor on the market. Dustcontrol UK’s new and innovative propane-driven DC Storm LPG can last up to eight hours and doesn’t require any cables, making … More »
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Japan’s Tohoku Electric to buy Mozambique LNG

Japan’s Tohoku Electric to buy Mozambique LNG
16 October 2018, News Wires — Tohoku Electric Power Co said it had signed the first contract by a Japanese buyer to procure up to 280,000 tonnes per year of liquefied natural gas (LNG) from Mozambique LNG project for 15 years from the start of production in the early 2020s. The contract was signed with a … More »
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Dust specialist launches most powerful gas-powered extractor to date

Dust specialist launches most powerful gas-powered extractor to date
16 October 2018, Sweetcrude, Lagos — Removing hazardous dust on an industrial scale has been made easier thanks to the UK’s leading dust extracting specialist launching a high performance, gas-powered extractor on the market. Dustcontrol UK’s new and innovative propane-driven DC Storm LPG can last up to eight hours and doesn’t require any cables, making … More »
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Brazil far-right candidate could revise pre-salt oil contracts – report

Brazil far-right candidate could revise pre-salt oil contracts – report
16 October 2018, News Wires — Brazil’s far-right presidential front-runner Jair Bolsonaro could revise the country’s model of production-sharing contracts in its coveted pre-salt oil fields if he wins this month’s election, newspaper Valor reported on Monday. The poll leader ahead of the Oct. 28 run-off vote could also end overseas financing by state development bank … More »
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Nigerians paid 1.9% more for petrol in September – NBS

Nigerians paid 1.9% more for petrol in September – NBS
*Average kerosene price per litre grows by 2.9% OpeOluwani Akintayo 16 October 2018, Sweetcrude, Lagos — Nigerians paid 1.9 percent more for premium motor spirit, PMS – popularly known as petrol – in September as against August, statistics from the National Bureau of Statistics, NBS, have shown. Average price paid by consumers for petrol increased by … More »
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Monday, 15 October 2018

Oil steady as Saudi tensions balance demand outlook

Oil steady as Saudi tensions balance demand outlook
15 October 2018, London — Oil prices steadied on Monday as tension over the disappearance of a prominent Saudi journalist stoked supply worries, balancing concerns over the long-term demand outlook. More »
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AfDB showcases investment opportunities in Africa to Nordic investors

AfDB showcases investment opportunities in Africa to Nordic investors
15 October 2018, Sweetcrude, Abidjan, Cote d’Ivoire –- The African Development Bank in a multidisciplinary team roadshows has presented financial products and investment opportunities to Nordic investors to leverage more access to financing. More »
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NCDMB partners Dangote Refinery on local content implementation

NCDMB partners Dangote Refinery on local content implementation
*Content Board lauds Dangote Refinery on local content *Expresses readiness for partnership 15 October 2018, Sweetcrude, Lagos, Nigeria — Nigerian Content Development and Monitoring Board (NCDMB) has praised the management of Dangote Petroleum Refinery and Petrochemical Free Trade Zone Enterprises (DPRP) over its adherence to the local content law in the execution of its projects. More »
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NDDC contractors lament non-payment for job done

NDDC contractors lament non-payment for job done
Lucky Omas 15 October 2018, Sweetcrude, Warri, Delta State –– The Niger Delta Development Commission, NDDC, contractors have cried out over the failure of the commission to pay them for projects done several years after completion. More »
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Philippines to suspend oil tax hike to cool red hot inflation

Philippines to suspend oil tax hike to cool red hot inflation
15 October 2018, News Wires — The Philippines said on Sunday it would suspend the implementation of a further increase in excise tax on fuel products, set to take effect in January 2019, to stem rising inflation expectations. More »
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S.Korea’s Sept imports of Iran oil fall to zero ahead of U.S. sanctions

S.Korea’s Sept imports of Iran oil fall to zero ahead of U.S. sanctions
15 October 2018, News Wires — South Korea did not imported any oil from Iran in September for the first time in six years, before U. More »
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OPEC daily basket crude price closes at $79.36 per barrel

OPEC daily basket crude price closes at $79.36 per barrel
15 October 2018, Sweetcrude, Vienna, Austria — The price of OPEC basket of fifteen crudes stood at $79. More »
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Dangote Cement London listing to go ahead in 2019

Dangote Cement London listing to go ahead in 2019
15 October 2018, Sweetcrude, Lagos — The London public listing of Dangote Cement will happen in 2019, after Nigeria’s general elections, Chairman and Chief Executive Officer of the Dangote Group, Aliko Dangote, has said. More »
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Wildcatters still a gamble for investors despite oil’s rise

Wildcatters still a gamble for investors despite oil’s rise
15 October 2018, News Wires — Higher oil prices may seem like the pot of black gold at the end of the rainbow for wildcat explorers in frontier plays. More »
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Sunday, 14 October 2018

Conoil appoints Hardeep Kheterpal as acting managing director

Conoil appoints Hardeep Kheterpal as acting managing director
Opeoluwani Akintayo 14 October 2018, Sweetcrude, Lagos — The Management of Conoil Plc has announced the appointment of Mr. More »
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Estimated billing: NERC to introduce capping billing methodology

Estimated billing: NERC to introduce capping billing methodology
OpeOluwani Akintayo  14 October 2018, Sweetcrude, Lagos — To avert recurrent challenges on estimated billing, the Nigerian Electricity Regulatory Commission, NERC, has said it will introduce the capping estimated billing system which will see setting aside the current billing methodology. More »
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OPEC’s oil faces lower demand in 2018, revises 2019 forecast

OPEC’s oil faces lower demand in 2018, revises 2019 forecast
OpeOluwani Akintayo 14 October 2018, Sweetcrude, Lagos — There has been a low demand for crude oil from members of the Organization of the Petroleum Exporting Countries, OPEC, the Vienna-based group to slash estimates of demand for its oil in both 2018 and 2019. More »
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Big oil is about to bury skeptical investors in cash pile

Big oil is about to bury skeptical investors in cash pile
*Industry free cash flow to reach $175 billion in 2018: More »
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Oil turns lower as weaker demand outlook weighs

Oil turns lower as weaker demand outlook weighs
14 October 2018, New York — Oil prices gave back early gains and turned lower on Friday after the International Energy Agency (IEA) deemed supply adequate and the outlook for demand weakening, sinking even as equities rebounded from a slump Thursday. More »
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Chevron reports unplanned flaring at El Segundo, CA, refinery

Chevron reports unplanned flaring at El Segundo, CA, refinery
14 October 2018, Los Angeles — Chevron Corp reported unplanned flaring at its 269,000-barrel-per-day (bpd) refinery in El Segundo, California, according to a filing with state pollution regulators. More »
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Breaking: More pipeline leakage detected on NNPC 2E pipeline

Breaking: More pipeline leakage detected on NNPC 2E pipeline
Mkpoikana Udoma 14 October 2018, Sweetcrude, Port Harcourt — Barely 24hours after NNPC 2E pipeline network caught fire along Osisioma axis near Aba depot, more leakages have been detected on the same pipeline in Mbutu and Umuaduru communities in Osisioma Ngwa Local Government Area of Abia state. More »
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