Tuesday, 22 January 2019

Seplat leads trading at NSE

Seplat leads trading at NSE
22 January 2019, Sweetcrude, Lagos — Seplat Petroleum led Tuesday’s trading on the floor of the Nigerian Stock Exchange for energy companies with 10k gain in 60 deals valued at 193,750,442.50 Oando gained 0.3k in 111 deals valued at 8,382,442.50. Japaul and Eterna remained unchanged. Top Gainers  Seplat: 10k Oando: 0.3k More »
Read More »

Oil drops nearly 3 pct on rising supplies, China slowdown

Oil drops nearly 3 pct on rising supplies, China slowdown
22 January 2018, News Wires — Oil prices fell 3 percent on Tuesday over concerns the world’s stumbling economy could pinch fuel demand as U.S. crude output climbs to new heights and cuts by Saudi Arabia and its allies are smaller than advertised. Gloomy new global growth forecasts by the International Monetary Fund and signs of … More »
Read More »

Ongoing Ogoni oil spill clean-up will not be defective – HYPREP

Ongoing Ogoni oil spill clean-up will not be defective – HYPREP
Mkpoikana Udoma 23 January 2019, Sweetcrude, Port Harcourt — The Hydrocarbon Pollution Remediation Project, HYPREP, has assured that ongoing clean-up of oil-impacted sites in Ogoniland will not be defective, and was in line with international standard set by the United Nations Environment Program, UNEP. HYPREP Coordinator, Dr. Marvin Dekil, gave the assurance while briefing newsmen on … More »
Read More »

DPR gets N3 billion allocation from FAAC in December 2018

DPR gets N3 billion allocation from FAAC in December 2018
*N9b for development of natural resources *N57b shared among oil-producing states OpeOluwani Akintayo 22 January 2019, Sweetcrude, Lagos — The Department of Petroleum Resources, DPR, received an allocation of N3 billion from the Federal Account Allocation Committee, FAAC, in December 2018. Newly released data by the National Bureau of Statistics showed that the department got … More »
Read More »

Govt establishes committee on Nigeria’s return to IMO category ‘C’

Govt establishes committee on Nigeria’s return to IMO category ‘C’
Vincent Toritseju 22 January 2019, Sweetcrude, Lagos — Ahead of the November general election of the International Maritime Organization, IMO, the Federal Government has constituted a Committee on Nigeria’s return to the category ‘C’ of the United Nation’s agency. Disclosing this to Vanguard Maritime Report in Oron, Akwa-Ibom State, Rector of the Maritime Academy of … More »
Read More »

Seafarers’ welfare: Maritime authorities move to increase inspection campaign

Seafarers’ welfare: Maritime authorities move to increase inspection campaign
Vincent Toritseju 22 January 2019, Sweetcrude, Lagos — The maritime administrations that are signatories to the Memorandum of Understanding on Port State Control for West and Central African region (Abuja MoU) has commenced moves to launch a Concentrated Inspection Campaign, CIC, on Life-Saving Appliances. The aim of the CIC, according to the Secretary-General of the … More »
Read More »

Satellite residents lament tank farms, container terminals invasion

Satellite residents lament tank farms, container terminals invasion
Vincent Toritseju 22 January 2019, Sweetcrude, Lagos — The residents of Satellite Town under the aegis of Satellite Town Forum, has raised alarm over the invasion of its community by tank farm owners and terminal operators, a development that may have put the lives of over two million people in the community at risk. President … More »
Read More »

Gail India offers three LNG cargoes from Sabine Pass – sources

Gail India offers three LNG cargoes from Sabine Pass – sources
22 January 2019, News Wires — Gail (India) has offered three liquefied natural gas (LNG) cargoes loading from the Sabine Pass terminal in the United States in 2020, industry sources said on Monday. The Indian importer has 20-year deals to buy 5.8 million tonnes a year of U.S. LNG, split between Dominion Energy’s Cove Point plant … More »
Read More »

Iraq’s southern oil exports hold near record in January

Iraq’s southern oil exports hold near record in January
22 January 2019, News Wires — Oil exports from southern Iraq are holding close to a record high so far in 2019, according to shipping data and an industry source, which could raise questions over whether OPEC’s second-largest producer is following through on a deal to cut output. Southern Iraqi exports in the first 21 days … More »
Read More »

Ukraine gas firm says Russians delaying gas talks as they spur work on Nord Stream 2

Ukraine gas firm says Russians delaying gas talks as they spur work on Nord Stream 2
22 January 2019, News Wires — Ukrainian state energy company Naftogaz does not expect progress in gas transit talks on Monday with Russia which it says is delaying negotiations in order to get its Nord Stream 2 pipeline built first. Russia’s planned doubling of capacity on the Nord Stream pipeline across the Baltic Sea to Germany … More »
Read More »

Kuwait to boost spending, eyes oil price at $55-$65/bbl

Kuwait to boost spending, eyes oil price at $55-$65/bbl
22 January 2019, News Wires — Kuwait on Monday projected a 4.7 percent rise in spending to 22.5 billion dinars ($74.15 billion) as part of its state budget for the year ending on March 31, 2020, as the major oil producer seeks to spur economic growth. The Kuwaiti Finance Minister Nayef al-Hajraf said he expected the … More »
Read More »

Iran fails to find any buyers for crude offered on exchange

Iran fails to find any buyers for crude offered on exchange
22 January 2019, News Wires — Iran failed to find any buyers on Monday in its latest attempt to sell oil to private companies for export on the stock exchange, the ISNA news agency reported, in a setback to Tehran’s efforts to bypass U.S. sanctions. Crude oil trade is state-controlled in Iran, but to try … More »
Read More »

Death toll from Mexico pipeline explosion rises to 89 – health minister

Death toll from Mexico pipeline explosion rises to 89 – health minister
22 January 2019, News Wires — The number of people killed in a gasoline pipeline explosion in central Mexico rose to 89, the country’s health minister said on Monday. There were also 51 people injured, Jorge Alcocer told a morning news conference. Friday’s pipeline blast happened after hundreds of people has rushed to collect fuel from … More »
Read More »

Energy theft: 47% of prepaid meters in Nigeria by-passed – ANED

Energy theft: 47% of prepaid meters in Nigeria by-passed – ANED
Mkpoikana Udoma 22 January 2019, Sweetcrude, Port Harcourt — Electricity distribution companies in the country under the aegis of the Association of Nigerian Electricity Distributors, ANED, have raised alarm that 47 percent of prepaid meters in the country are by-passed by customers at the first four weeks of installation. Executive Director, Research and Advocacy, ANED, Mr. … More »
Read More »

Monday, 21 January 2019

Total to approve Nigeria’s Ikike project in coming months

Total to approve Nigeria’s Ikike project in coming months
21 January 2019, Sweetcrude, Lagos — French oil giant Total says it will approve plans to proceed with the Ikike project in Nigeria in the coming months The company also plans to participate this year in the expansion of the Nigerian LNG project, Reuters quoted Total CEO Patrick Pouyanne as saying. Total is a shareholders … More »
Read More »

NSE: Energy companies kick-off week’s trading negatively

NSE: Energy companies kick-off week’s trading negatively
21 January 2019, Sweetcrude, Lagos — Monday’s trading activities on the floor of the Nigerian Stock Exchange for energy companies ended on a negative note with four losers, and one unchanged. More »
Read More »

South Sudan starts pumping more crude oil from Unity fields

South Sudan starts pumping more crude oil from Unity fields
21 January 2019, News Wires — South Sudan started pumping on Monday an additional 15,000 barrels per day (bpd) of crude oil from its Unity oilfields, its oil minister said. Oil minister Ezekiel Lul Gatkuoth told Reuters on Sunday the country had begun to repair wells damaged in the civil war and that wells reopening on … More »
Read More »

Oil rises as investors latch on to OPEC cuts, supply outlook

Oil rises as investors latch on to OPEC cuts, supply outlook
21 January 2019, News Wires — Oil rose on Monday, reversing earlier losses, as investors latched on to positive supply-side drivers for the market, although concern about the wider economy simmered in the background after data pointed to a slowdown in China. Brent crude oil futures were up 12 cents at $62.82 a barrel by 1520 … More »
Read More »

Equinor stops drilling at Arctic well after incident

Equinor stops drilling at Arctic well after incident
21 January 2019, News Wires — Norway’s Equinor has put on hold the drilling of a key exploration well in the Barents Sea after a well incident last week, the company said on Monday. The incident occurred when Seadrill’s rig West Hercules was drilling the Gjoekaasen well offshore Norway . The so-called “high-risk, high-impact” well could … More »
Read More »

China’s 2018 oil refinery output, Dec gas production hit records

China’s 2018 oil refinery output, Dec gas production hit records
21 January 2019, News Wires — Chinese oil refiners raised their output to a record in 2018, led by state-run oil majors which maximised operations on firm profit-margins and private refiners which increased processing after being granted higher crude import quotas. Refiners processed 603.57 million tonnes of crude last year, or about 12.07 million barrels per … More »
Read More »

PENGASSAN decry Forte Oil, NIPCO’s anti-labour posture

PENGASSAN decry Forte Oil, NIPCO’s anti-labour posture
*Seeks stiffer sanction *Recommends NLNG model for refineries Michael James 21 January 2019, Sweetcrude, Lagos — The Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, has condemned what it described as the lingering anti-labour practice perpetrated by some indigenous oil companies operating in the country against their employees, especially Nigerian workers. Arising from … More »
Read More »

NIMASA pledges to redouble efforts to reposition maritime sector

NIMASA pledges to redouble efforts to reposition maritime sector
Michael James 21 January 2019, Sweetcrude, Lagos — The Nigerian Maritime Administration and Safety Agency, NIMASA, says it would intensify its efforts to reposition the maritime industry in Nigeria, as the agency moves to become a leading maritime administration in Africa. The Director-General of NIMASA, Dr. Dakuku Peterside, stated over the weekend in Lagos during … More »
Read More »

Bin Sulayem identifies partnerships as key to Africa’s prosperity

Bin Sulayem identifies partnerships as key to Africa’s prosperity
*Removal of trade barriers, connecting nations and infrastructure development key to the future 21 January 2019, Sweetcrude, Dubai, UAE — The key to African economic emergence lies in the removal of barriers, increased connectivity between nations and infrastructure development, DP World’s Group Chairman and Chief Executive Officer, Sultan Ahmed Bin Sulayem, told African leaders and … More »
Read More »

PENGASSAN decry Forte Oil, Aiteo, NIPCO’s anti-labour posture

PENGASSAN decry Forte Oil, Aiteo, NIPCO’s anti-labour posture
*Seeks stiffer sanction *Recommends NLNG model for Refineries Michael James 21 January 2019, Sweetcrude, Lagos — The Petroleum and Natural Gas Senior Staff Association of Nigeria has condemned what it described as the lingering anti-labour practice perpetrated by some indigenous oil companies operating in the country against their employees, especially Nigerian workers. Arising from the … More »
Read More »

OPEC daily basket oil price closes at $60.90 per barrel

OPEC daily basket oil price closes at $60.90 per barrel
21 January 2019, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $60.90 a barrel on Friday, compared with $59.63 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 »
Read More »

10 developments that will shape Africa’s energy sector in 2019

10 developments that will shape Africa’s energy sector in 2019
*This year will be key for the advancement of new exploration and production development projects from West to East Africa 21 January 2019, Sweetcrude, Johannesburg, South Africa — After a year of rebound and recovery, Africa’s old and new hydrocarbons markets have an opportunity to further entrench the continent’s position as the world’s hottest oil … More »
Read More »

Oil pollution in Rivers State has reached crisis point – Environmentalist

Oil pollution in Rivers State has reached crisis point – Environmentalist
Mkpoikana Udoma 21 January 2019, Sweetcrude, Port Harcourt — An environmentalist has raised the alarm over persisting environmental pollution in the Niger Delta, especially Rivers State as a result of oil exploration and exploitation activities. A former President of the Nigerian Environmental Society, Engr. Olu Wai-Ogosu, said pollution in the state and the entire Niger … More »
Read More »

African oil producers call for cooperation & reform at Cape VII Congress

African oil producers call for cooperation & reform at Cape VII Congress
*Organized by Africa Oil & Power, APPO Cape VII takes place on April 1-5, 2019 at the Sipopo International Conference Hall in Malabo, Equatorial Guinea 21 January 2019, Sweetcrude, Cape Town, South Africa — The African Petroleum Producers Organization (APPO) and its member countries call for unity, cooperation and reform amongst oil producers ahead of the … More »
Read More »

Sunday, 20 January 2019

Rivers decry NDDC neglect despite 15% oil, gas revenue contribution

Rivers decry NDDC neglect despite 15% oil, gas revenue contribution
Mkpoikana Udoma 20 January 2019, Sweetcrude, Port Harcourt — A group known as Ekpeye Elites, has said that Ekpeye ethnic nationality in Rivers State contributes 15 percent of Nigeria’s oil and gas revenue, thus deserved due recognition and patronage by the Niger Delta Development Commission, NDDC. The leader of the group, Dr. Chigbo Sam-Eligwe, said … More »
Read More »

Libya’s Khalifa Haftar plans campaign to secure oil areas

Libya’s Khalifa Haftar plans campaign to secure oil areas
20 January 2019, Tripoli — Forces allied to Libya’s eastern leader Khalifa Haftar have entered the city of Sebha as part of a campaign to secure the country’s lawless south and protect its oil-producing infrastructure, his spokesman said. “The next step is to secure all of Libya’s oil regions,” Ahmed al-Mismari, spokesman for Haftar’s self-styled … More »
Read More »

NNPC seeks collaboration to end cross-border smuggling of petrol

NNPC seeks collaboration to end cross-border smuggling of petrol
Ike Amos 20 January 2019, Sweetcrude, Abuja — The Nigerian National Petroleum Corporation, NNPC, Sunday, called for increased collaboration with members of the African Union of Transportation and Logistics Organization to address the rising incidents of cross-border leakages of petroleum products. In a statement in Abuja, Group Managing Director of the NNPC, Mr. Maikanti Baru, … More »
Read More »

U.S. judge blocks Atlantic seismic oil permitting during shutdown

U.S. judge blocks Atlantic seismic oil permitting during shutdown
20 January 2019, Washington — A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration’s energy agenda. Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to a … More »
Read More »

Lethal pipeline blast sharpens focus on Mexico fuel theft plan

Lethal pipeline blast sharpens focus on Mexico fuel theft plan
20 January 2019, Tlahuelilpan, Mexico — A blast at a gasoline pipeline in Mexico that killed at least 73 people have put renewed attention on the government’s strategy to stop fuel theft, with some relatives saying fuel shortages stemming from the plan led people to risk their lives. Fuel thieves punctured the Tula-Tuxpan pipeline a … More »
Read More »

Kuwaiti oil minister calls sector spending plans ‘optimistic’

Kuwaiti oil minister calls sector spending plans ‘optimistic’
20 January 2019, Cairo — Kuwaiti oil minister Khaled al-Fadhel wants the funds allocated by the oil sector for spending within the 2040 strategy to be reconsidered, Al-Rai newspaper reported on Saturday. The minister said he is not against expansion in the oil sector but described the funds, estimated at 150 billion Kuwaiti dinars ($495 … More »
Read More »

U.S. judge blocks Atlantic seismic oil permitting during shutdown

U.S. judge blocks Atlantic seismic oil permitting during shutdown
20 January 2019, Washington — A federal court judge on Friday ruled that the federal government cannot process seismic testing permits for offshore oil drilling during the ongoing government shutdown, dealing a blow Trump administration’s energy agenda. Judge Richard Gergel of the U.S. District Court in South Carolina issued the decision in response to a … More »
Read More »

Tunisia to almost double gas production this year

Tunisia to almost double gas production this year
20 January 2018, News Wires — Tunisia will almost double production of natural gas to about 65,000 barrels of oil equivalent per day this year, the industry and energy minister, Slim Feriani, told Reuters on Friday. The country’s gas output will jump from 35,000 barrels of oil equivalent per day (boed) when the southern Nawara … More »
Read More »

Japan to be 3rd largest oil refining capacity contributor in Asia by 2023

Japan to be 3rd largest oil refining capacity contributor in Asia by 2023
20 January 2019, Sweetcrude, Lagos — Japan was the third largest contributor to crude oil refining capacity in Asia with 3,519 thousand barrels per day (mbd) in 2018. The country is expected to retain its position despite a decrease in its share from 10% to 8% of Asia’s crude oil refining capacity in 2023, according … More »
Read More »

Mexico fuel pipeline blast kills 66, president defends response

Mexico fuel pipeline blast kills 66, president defends response
19 January 2019, Tlahuelilpan, Mexico — At least 66 people were killed after a pipeline ruptured by suspected fuel thieves exploded in central Mexico, authorities said on Saturday, as President Andres Manuel Lopez Obrador defended the army despite its failure to clear the site before the blast. Forensic experts filled body bags with charred human … More »
Read More »

Saturday, 19 January 2019

Nigeria’s national grid records improvement in frequency fluctuation

Nigeria’s national grid records improvement in frequency fluctuation
*As ECOWAS approves WAPP Michael James 18 January 2019, Sweetcrude, Lagos — Nigeria’s National Grid has achieved frequency control of between 49.80Hz and 50.20Hz for 64.47% of the time and frequency control between 49.75Hz and 50.25Hz for 85.55% between December 27, 2018, and January 12, 2019. The frequency control is the best ever achieved in … More »
Read More »

Schlumberger to abandon Russia’s EDC bid if approvals not met soon

Schlumberger to abandon Russia’s EDC bid if approvals not met soon
19 January 2018, News Wires — Schlumberger NV said on Friday it would withdraw its application for the acquisition of a stake in Russia’s Eurasia Drilling Company (EDC) if it is not successful in getting approvals soon. Schlumberger said it would buy a stake in EDC, Russia’s largest oilfield services provider, back in 2017. “Unfortunately, we have … More »
Read More »

Germany’s 2019 hard coal imports seen rising after mining ends

Germany’s 2019 hard coal imports seen rising after mining ends
19 January 2018, News Wires — Germany is expected to import 45 million tonnes of hard coal this year, up roughly 1.4 percent from 2018 despite mounting competition from renewable energy, as the closure of domestic mines reduces domestic supply, importers said on Friday. The total would comprise an estimated 30 million tonnes for power generation … More »
Read More »

U.S. refiners scramble as White House eyes Venezuela sanctions

U.S. refiners scramble as White House eyes Venezuela sanctions
19 January 2018, News Wires — U.S. refiners are bidding up prices for scarce types of crude oil needed for their most sophisticated plants as the United States reconsiders harsher sanctions on Venezuela that could further reduce imports of the country’s oil. Trump administration officials in recent days met with U.S. oil company executives to lay … More »
Read More »

Algeria sets April election, no word on Bouteflika candidacy

Algeria sets April election, no word on Bouteflika candidacy
19 January 2018, News Wires — Algeria on Friday announced a presidential election for April 18 without indicating whether veteran leader Abdelaziz Bouteflika would stand, following calls for his nomination by a loyal ruling caste of businessmen, trade unions and the military. The 81-year old leader, who has been in office since 1999 and rarely been … More »
Read More »

Fire at Rosneft’s Angarsk oil refinery put out

Fire at Rosneft’s Angarsk oil refinery put out
19 January 2018, News Wires — Rosneft’s Angarsk oil refinery said on Friday afternoon that a fire that broke out at the refinery earlier in the day had been put out. A spokesman for the refinery, which is situated near Lake Baikal in southern Siberia, did not provide further details. Sources had told Reuters earlier on … More »
Read More »

India’s Reliance jumps as results show consumer business thriving

India’s Reliance jumps as results show consumer business thriving
19 January 2018, News Wires — Shares in India’s Reliance Industries rose on Friday, following record quarterly numbers that showed the conglomerate’s strategy to diversify beyond refining and petrochemicals was bearing fruit. The company’s gross refining margins – a measure of its core profitability – took a hit amid volatility in oil prices and slowing demand … More »
Read More »

Schlumberger shares rise on lower 2019 capex, international outlook

Schlumberger shares rise on lower 2019 capex, international outlook
19 January 2018, News Wires — Oilfield services provider Schlumberger NV said on Friday it would spend less in 2019 and forecast single-digit growth in international markets this year, sending its shares as much as 5 percent higher. With the sharp drop in oil prices since 2014 many producers have evaluated spending budgets for 2019, stoking concerns … More »
Read More »

Brazil’s Petrobras to stop taking subsidized state bank loans-CEO

Brazil’s Petrobras to stop taking subsidized state bank loans-CEO
19 January 2018, News Wires — Petroleo Brasileiro SA plans to stop taking loans from public banks at “special rates” to finance projects, the Brazilian state-run oil company’s chief executive Roberto Castello Branco said on Friday through a spokesperson. Branco’s remarks come as the government released a list of the 50 largest borrowers at state-controlled development … More »
Read More »

Saudi Arabia plans oil refinery, petrochemicals plant in South Africa

Saudi Arabia plans oil refinery, petrochemicals plant in South Africa
19 January 2018, News Wires — Saudi Arabia plans to build an oil refinery and a petrochemicals plant in South Africa as part of $10 billion of investments in the country, Saudi Energy Minister Khalid Al-Falih said on Friday. Saudi oil would be used in the planned refinery whose construction would be led by state energy … More »
Read More »

UN reports 82 crime incidents in Gulf of Guinea

UN reports 82 crime incidents in Gulf of Guinea
19 January 2019, Sweetcrude, Lagos — The United Nations says there were 82 reported incidents of maritime crime and piracy in the Gulf of Guinea between January and November last year. It also reported that oil-related crimes led Nigeria to a loss of about $2.6 billion in revenue during the year. “Oil-related crimes resulted in … More »
Read More »

NNPC to halt export of propane, butane

NNPC to halt export of propane, butane
…Says move will lower LPG price OpeOluwani Akintayo 19 January 2019, Sweetcrude, Lagos — The Nigerian National Petroleum Corporation, NNPC, has said it is set to implement an effective commercial framework that would halt the export of propane and butane which are major components in the production of Liquefied Petroleum Gas, LPG, also known as cooking … More »
Read More »