Wednesday, 31 July 2019

Thailand’s PTT buys Agbami crude cargo for early Oct arrival-sources

Singapore — Thailand’s state oil company PTT has bought one cargo of Nigerian Agbami crude on behalf of Thai refiner IRPC via a tender awarded last week, two trade sources said on Wednesday * The cargo was bought at a premium of around $3 a barrel to dated Brent on a delivered-ex-ship (DES) basis, said […] More »
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BP has no plans to take its tankers through Hormuz

London — BP has not taken any of its oil tankers through the Strait of Hormuz since a July 10 attempt by Iran to seize one of its vessels, the British company’s Chief Financial Officer Brian Gilvary said on Tuesday. The oil and gas company has no current plans to take any of its own […] More »
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Tuesday, 30 July 2019

Yemen urges oil companies to restart production – oil ministry document

Yemen’s internationally-recognised government has called on oil companies to restart production and exploration in the country More »
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Russia’s Ust-Luga port loads oil with 2.8 ppm of chloride – ministry

Organic chloride content in oil loaded from the Baltic Sea port of Ust-Luga had declined to 2.8 parts per million (ppm) by July 29, within a More »
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OPEC daily basket oil price closes at $63.79 per barrel

Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $63.79 a barrel on Monday, compared with $64.02 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), Zafiro (Equatorial Guinea), Rabi […] More »
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NNPC exonerates ExxonMobil over $600m oil licences renewal debt

Ike Amos Abuja — The Nigerian National Petroleum Corporation, NNPC, Monday, exonerated ExxonMobil from any indebtedness to the federation over the renewal of licenses for Oil Mining Leases, OML, 67, 68 and 70. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, disclosed that the indebtedness was on the part […] More »
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Japan’s Osaka Gas to buy Sabine Oil for $610 mln

Osaka Gas Co Ltd said on Monday it will buy U.S. shale gas developer Sabine Oil & Gas Corp for $610 million, as the Japanese company aims to expand its overseas business to seek future growth More »
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Saturday, 27 July 2019

Russia wants short-term gas deal with Ukraine before bypass routes done – sources

Russia wants to strike a short-term deal with Kiev on gas transit to Europe when the current ten-year deal expires in order to More »
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Indonesia offers four new oil and gas blocks after roadshow – deputy minister

Indonesia's energy ministry offered four new oil and gas blocks including Cendrawasih VIII block off Papua shore which is estimated to have 3.8 trillion cubic More »
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Brazil’s Petrobras reports 3.8% growth in Q2 oil, gas output

Brazil’s state oil firm Petroleo Brasileiro SA said on Friday total second-quarter oil and gas production was 2.633 million barrels per day of oil More »
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Friday, 26 July 2019

NNPC seeks partnership with Chevron for condensate refinery

Ike Amos Abuja — The Nigerian National Petroleum Corporation, NNPC, Thursday, called for collaboration with Chevron Nigeria Limited to establish a condensate splinter refinery. The appeal was made by the Group Managing Director of NNPC, Mallam Mele Kyari, when the management of Chevron Nigeria Limited, CNL, was led by its Managing Director, Jeff Ewing, on […] More »
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Wall St rebounds, dollar gains on solid GDP data, upbeat earnings

New York — U.S. stocks bounced back and the dollar hit a two-month peak on Friday as solid economic data and a spate of positive earnings reports brought buyers back to the market. A host of upbeat quarterly reports from a broad range of U.S. companies, including Google parent Alphabet Inc, Intel Corp, Starbucks Corp […] More »
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Oil steadies as Gulf tensions offset U.S. economic data

London — Oil prices steadied on Friday and were on track for a weekly increase as geopolitical tensions in the Middle East and concerns over the safety of oil transport in the Gulf countered slowing U.S. economic growth amid a U.S.-China trade war. Brent crude futures were up 9 cents at $63.48 per barrel at […] More »
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Baltic index sees worst week in 6 months as ship availability improves

News wire — The Baltic Exchange’s main sea freight index fell for a fourth straight session on Friday, driving it to its worst weekly loss in six months on abundant availability of ships in the Atlantic region. * The Baltic index, which tracks rates for ships ferrying dry bulk commodities, fell 0.5%, or 10 points, […] More »
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Argentina cuts red tape to spur gas exports

Buenos Aires — Argentina will sharply cut the approval process for gas exports, the energy ministry said on Friday, as the country looks to ramp up developments of its huge unconventional Vaca Muerta shale play and become a net energy exporter. The resolution, published in the official bulletin, reduces the export approval period from 45 […] More »
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Russia’s Sberbank sees chance of averting refinery bankruptcy – TASS

Russian state lender Sberbank believes there is “hypothetical possibility” that bankruptcy proceedings can be avoided at the Antipinsky oil refinery More »
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China solar production surges in H1 as exports rise – assn

China’s production of solar equipment rose rapidly in the first half of the year despite a decline in new project installations More »
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CNOOC halts field work at western Uganda project over Ebola fears

Oil producer China National Offshore Oil Corp said on Thursday it had halted field work at its western Uganda project over an Ebola scare More »
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Thursday, 25 July 2019

Oil rises on U.S. inventory decline but slowing economy caps gainsLondon —

London — Oil prices rose 1% on Thursday amid Middle East tensions and a big fall in U.S. crude stocks, but gains were capped as weak manufacturing data in Western nations indicated slowing economic growth that could reduce fuel demand. Brent crude futures rose 64 cents to $63.82 a barrel by 1020 GMT, after dropping […] More »
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EU plans to impose import duties on Indonesia biodiesel

Brussels — The European Commission has proposed duties ranging from 8% to 18% on imports of biodiesel from Indonesia to counter what it says are unfair subsidies, the latest twist in a case that has lasted seven years. The subsidies would be a double blow for Indonesian biodiesel after the European Union decided in March that […] More »
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Wednesday, 24 July 2019

NNPC to resume cash call arrears repayment to Eni/Agip

Ike Amos Abuja — The Nigerian National Petroleum Corporation, NNPC, Wednesday, disclosed that it would resume the repayment of cash call arrears to its Joint Venture (JV) partners, Eni/Agip before the end of the week. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, explained that the failure to pay […] More »
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Nigeria to have first solar-powered mall, install 600KW solar plant

*Reduce CO2 emissions by over 13,000 tonnes OpeOluwani Akintayo Lagos — A one-stop leisure, restaurant and retail destination in Abuja, Jabi Lake mall will be the first in the history of Nigeria to be powered solar. Brought to the market by Actis, on Monday, announced an agreement with CrossBoundary Energy, CBE. Actis previously collaborated with […] More »
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U.S. crude stocks drop by nearly 11 mln bbls -EIA

News Wire — U.S. crude stocks fell by nearly 11 million barrels last week even as refineries cut output, following a similar report from a key industry group, the Energy Information Administration said on Wednesday. Crude inventories fell by 10.8 million barrels in the week to July 19, compared with analysts’ expectations for a decrease […] More »
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Repsol received 45% owed in H1 under Venezuela oil-for-debt deal-CEO

Madrid — Spanish oil and gas firm Repsol received 45% of the amount it was owed by Venezuela in the first half of 2019 under an oil-for-debt deal, its chief executive said on Wednesday. Repsol received four cargoes relating to its Cardon joint venture with Italy’s Eni in the first six months of the year […] More »
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Nigerians paid an average N145 per litre for petrol in June

OpeOluwani Akintayo Lagos — Data obtained from the Nigerian Bureau of Statistics indicate that Nigerians paid an average N145 per litre for Premium Motor Spirit, PMS, in the month of June. The NBS revealed that the average price paid by consumers for premium motor spirit (petrol) decreased by -1.8% year-on-year. However, the average price increased […] More »
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N’Delta should have a say in oil sector development – Expert

Mkpoikana Udoma Port Harcourt — The people of Niger Delta region, as custodian of oil and gas resources in the country, should be backed constitutionally to have a say in every organization and agencies saddled with petroleum resources, says an industry expert and stakeholder in the region. A former Group General Manager, Upstream Investment Division […] More »
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Siemens bags contract for UK-Denmark subsea power cable

National Grid and Energinet have awarded contracts to Germany’s Siemens and others, as they take a decisive step towards building More »
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Saudi Arabia urges global community to deter maritime trade disruptions

Saudi Arabia said on Tuesday that Iran’s interception of commercial vessels, including its seizure of a British tanker, in Gulf waters More »
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Global oil consumption stagnates leaving prices under pressure: Kemp

Global oil consumption has stalled since the middle of 2018, making lower oil prices inevitable despite More »
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Tuesday, 23 July 2019

Russia’s Novatek completes sales of stakes in Arctic LNG-2

Moscow — Russian natural gas producer Novatek said on Monday it had completed the sale of stakes in its Arctic LNG-2 project to China’s National Petroleum Corporation, CNOOC and the Japan Arctic LNG consortium. Novatek has now reached its target for participation in the project, meaning it can make a final investment decision and use cash […] More »
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Monday, 22 July 2019

U.N. nuclear watchdog chief Amano has died, IAEA tell member states

Vienna — U.N. nuclear watchdog chief Yukiya Amano has died, the International Atomic Energy Agency (IAEA) said on Monday in a note to member states obtained by Reuters. “The Secretariat of the International Atomic Energy Agency regrets to inform with deepest sadness of the passing away of Director General Yukiya Amano,” the IAEA secretariat said in […] More »
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Russia’s Novatek completes sales of stakes in Arctic LNG-2

Moscow — Russian natural gas producer Novatek said on Monday it had completed the sale of stakes in its Arctic LNG-2 project to China’s National Petroleum Corporation, CNOOC and the Japan Arctic LNG consortium. Novatek has now reached its target for participation in the project, meaning it can make a final investment decision and use cash […] More »
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Libya’s Sharara oilfield resumes output after brief outage

Benghazi, Libya/London — Libya’s National Oil Corporation (NOC) has restarted the Sharara oilfield and lifted force majeure on loadings of its crude oil from the Zawiya terminal, it said on Monday. The oilfield, the OPEC member’s largest, was shut on Friday evening after an unidentified group shut a valve on the pipeline linking it to Zawiya, […] More »
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China/Abu Dhabi oil firms sign exploration, refining agreement

Beijing/Singapore/Dubai — China National Offshore Oil Co (CNOOC) has signed an agreement with Abu Dhabi National Oil Co (ADNOC) on upstream exploration and development, oil refining and liquefied natural gas trade, ADNOC said on Monday. The agreement was signed during a three-day state visit to China by Abu Dhabi Crown Prince Sheikh Mohammed bin Zayed. Under […] More »
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Sunday, 21 July 2019

OFID launches new strategy, focuses on sustainable growth, maximum impact

*The OPEC Fund for International Development, OFID, will embark on a journey to diversify its financial resources and to implement a coherent and consistent set of actions VIENNA, Austria — OFID’s highest policy-making body, the Ministerial Council, held its 40th Annual Session in Vienna, Austria, and approved the general principles of OFID’s new Strategic Framework. […] More »
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Q2 IMB Report: Nigeria takes lead in pirate attacks against vessels

Vincent Toritseju Lagos — DESPITE Nigeria’s effort to curb the menace of pirates attacks on vessels particularly in the Gulf of Guinea, Nigeria has continued to lead other countries of the world that are bedeviled by the negative impact of pirates. In the report of the International Maritime Bureau, IMB, January – June 2019, Nigeria […] More »
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Saturday, 20 July 2019

Mexico arrests former Pemex security head with allegations of fuel theft

 The Mexican attorney general’s office said on Thursday it had arrested a retired general who was responsible for security at the state oil More »
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Reliance Industries’ profit rises as Jio, retail cushion refining hit

Reliance Industries Ltd’s June-quarter profit rose 7%, as double-digit growth in the Indian conglomerate’s retail and telecoms businesses helped More »
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BP’s Tangguh LNG plant Train 3 to be delayed by a year -regulator

Operation of Train 3 at BP’s Tangguh liquefied natural gas plant in Indonesia is expected to be delayed by a year, Fatar Yani Abdurrahman More »
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Indonesia’s H1 upstream oil and gas investment at $5.21 bln -regulator

Indonesia oil and gas regulator SKK Migas said there was $5.21 billion worth of investment in Indonesian More »
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West Africa Crude – Exports of main Nigerian grades to ease amid big overhang

Nigeria will export slightly less crude from its four main oil streams in September, according to preliminary loading programmes seen More »
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Buhari, NNPC extol virtues of the late PENGASSAN president

Ike Amos Abuja – President Muhammadu Buhari, Friday, paid tributes to the late President of the Petroleum and Natural Gas Senior Staff Association of Nigerian, PENGASSAN, comrade Olabode Johnson, and commenced him for the unique role he played throughout his lifetime in ensuring harmonious relationship between oil and gas industry workers and their employers. In […] More »
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Friday, 19 July 2019

DPR to sanction oil producers who fail to upload data on platform

OpeOluwani Akintayo Lagos — The Department of Petroleum Resources, DPR on Thursday said that it would not hesitates to sanction oil producing companies who failed to unload its oil production data into the official platform. Ahmad Shakur, the acting Director sounded the warning at the sensitization workshop organised by DPR on National Production Monitoring System, […] More »
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DPR shuts 33 filling stations in Port Harcourt

Port Harcourt -– The Department of Petroleum Resources (DPR) on Friday shut down businesses in 33 filling stations in Port Harcourt over alleged sharp practices. Mr Bassey Nkanga, Operations Controller, DPR, Port Harcourt Zone, disclosed this to the News Agency of Nigeria (NAN) during a routine inspection of filling stations in the Rivers State capital. […] More »
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Honeywell Brazil oil unit’s Petrobras ties targeted by FCPA probe: filing

Sao Paulo — U.S. and Brazilian authorities are investigating whether Honeywell International Inc’s use of third parties in Brazil violated the U.S. Foreign Corrupt Practices Act, Honeywell said in a regulatory filing on Thursday. The probes by the U.S. Department of Justice, Securities and Exchange Commission and Brazilian authorities involve third parties hired by Honeywell’s UOP oil […] More »
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Oil service firms eye new survival tactics amid weak U.S. market

News Wire — Packers Plus Energy Services, a company built on the North American shale oil boom, is turning to the Middle East to weather a new round of spending cuts by producers amid warnings of a looming oil glut. Oil production has outpaced demand by 900,000 barrels per day (bpd) this year, according to […] More »
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CSR: Eko Disco commences free feeding programme for school pupils

*Reteraites company’s commitment to youth empowerment OpeOluwani Akintayo Lagos — The Eko Electricity Distribution Company, EKEDC, on Wednesday commenced a free feeding program initiative for pupils within its network as part of their Corporate Social Responsibility, CSR. Mr. Adeoye Fadeyibi, the Chief Executive Officer of EKEDC said the company bis partnering with an NGO called […] More »
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Eni files fraud complaint, rejigs trading arm over oil tanker fiasco

London — Eni has filed a fraud complaint against its former head of oil trading over a suspect Iraqi crude oil shipment, amid concerns inside the Italian oil major that the failed delivery may have included Iranian crude targeted by U.S. sanctions. In the filing to the Milan prosecutor’s office Eni accused its former head of […] More »
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Thursday, 18 July 2019

Navy partners firm on ship construction, seeks NDDC collaboration

Mkpoikana Udoma Port Harcourt — The Nigerian Navy says it has entered into a joint venture partnership with a Chinese firm, to construct and repair ships at its Naval Shipyard located in Reclamation Road, Port Harcourt, Rivers State. To this end, the Nigerian Navy has called on the Niger Delta Development Commission, NDDC, to partner […] More »
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Total to drill four wells in South Africa’s gas field by 2020

OpeOluwani Akintayo Lagos — French oil major, Total will drill up to four gas wells in South Africa starting from the first quarter of 2020. The gas discovery located in 11B/12B in the Outeniqua Basin, located 175 kilometers off the southern coast, will lead to further exploration and appraisal in the coming year. Already, a […] More »
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Oil falls as U.S. Gulf oil platforms return to service

New York — Oil fell more than 1.5% a barrel on Thursday, weighed down by weakness in U.S. equities markets and an expectation that crude output would rise in the Gulf of Mexico following last week’s hurricane in the region. Crude rose earlier in the session after Iran said it had seized a foreign tanker […] More »
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Long-delayed Finland nuclear reactor to start July 2020 – TVO

Paris — Finnish Teollisuuden Voima Oyj (TVO) said in a statement on Wednesday that the long-delayed Olkiluoto 3 nuclear plant would start generating electricity in July 2020. TVO said that the Areva-Siemens Consortium that is building the reactor had informed it that nuclear fuel will be loaded into the reactor in Jan. 2020, the first […] More »
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U.S. crude stockpiles fall in latest week: EIA

New York — U.S. crude stockpiles fell more than expected last week, while gasoline and distillate inventories rose, the Energy Information Administration said on Wednesday. Crude inventories fell by 3.1 million barrels in the last week, compared with analysts’ expectations for a decrease of 2.7 million barrels. Crude stocks at the Cushing, Oklahoma, delivery hub […] More »
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Wednesday, 17 July 2019

Mexico unveils Pemex business plan, but banks underwhelmed

Mexico City — Mexico on Tuesday unveiled parts of a keenly awaited business plan meant to bring the world’s most indebted oil company back from the abyss, but its vow of $7.2 billion in government support failed to dispel worries of a ratings downgrade. Octavio Romero, CEO of Petroleos Mexicanos, or Pemex, presented the broad outlines […] More »
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Russia’s Transneft signed off on alleged supplier of tainted oil: documents

London — A small oil transport firm accused of pumping toxic chemicals into Russia’s crude pipeline network that then polluted oil exports to Europe received daily documents from Russian state pipeline monopoly Transneft giving its oil deliveries a clean bill of health. The documents seen by Reuters certified the oil deliveries from March 30 to […] More »
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Brazil continues to lead deployment of planned and announced FPSOs

Lagos — A total of 20 planned and announced floating production, storage and offloading vessels, FPSOs, are expected to be deployed offshore Brazil between 2019 and 2025, the highest among countries globally, according to GlobalData, a leading data, and analytics company. The company’s report: ‘Q3 2019 Global FPSO Industry Outlook – Brazil Continues to Lead […] More »
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Mexico sticks to $7 bln tax cut in Pemex plan, vows refinery support

Mexico will reduce the tax burden of heavily indebted Pemex by some $7 billion over the next two years and inject government capital More »
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Total, Oando, Petrogas, Rainoil, others clinch NNPC oil swap contracts

Total, Oando, Petrogas, Rainoil and several other companies have been issued award letters in a crude-oil–in-exchange-for-fuel deal by the Nigerian National Petroleum Corporation More »
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Tuesday, 16 July 2019

Russia says Ust-Luga oil has normal organic chloride level

Moscow — Reservoirs in Russia’s Ust-Luga port did not contain contaminated oil on Monday and had an organic chloride content of 3.5 parts per million (ppm), a level well within the normal range, the energy ministry said. Organic chloride levels have been closely scrutinised following a major oil contamination earlier this year. Levels are expected […] More »
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Iraq’s southern oil exports average 3.42 mln bpd so far in July – officials

Basra — Iraq’s oil exports from its southern ports have reached 3.42 million barrels per day (bpd) so far in July, two oil officials told Reuters on Monday. Exports from its southern Basra terminals fell to 3.39 million bpd in June from 3.441 million bpd in the previous month. Officials said repair works at a […] More »
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Russia detains ex-refinery owner over suspected $29 mln fraud

Moscow — A court in Moscow ruled on Monday that Dmitry Mazurov, the former owner of Russia’s largest independent oil-processing plant, would be held in custody until September 12 pending trial on suspicion of embezzling 1.8 billion roubles ($28.75 million). Mazurov, who used to own the debt-ridden Antipinsky refinery in western Siberia, was arrested on […] More »
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Two groups bid in Israel’s offshore energy tender

Jerusalem — Israel said on Monday it had received bids from two groups of companies to explore for oil and gas off its Mediterranean coast, falling short of expectations for more robust interest from major energy firms in its latest auction. Israel’s energy ministry said the new activity will help position the country as a regional […] More »
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Monday, 15 July 2019

Nigerian consumer inflation falls to 11.22% in June –stats office

Lagos — Annual inflation in Nigeria stood at 11.22% in June, compared with 11.40% in May, the National Bureau of Statistics said on Monday. A separate food price index showed inflation at 13.56% in June, compared with 13.79% the previous month. Reuters More »
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Hedge funds stick to the sidelines in oil: Kemp

London — Hedge funds and other money managers left their petroleum positions essentially unchanged last week as the poor outlook for consumption offset production concerns stemming from tensions in the Middle East. The net long position in petroleum futures and options remained at 563 million barrels in the week to July 9, according to records […] More »
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Nordic power: Gains in fuel, German market push forward prices to multi-month peak

News Wires — Nordic forward prices rose to a multi-month peak on Monday driven by higher fuel and German power rates. * Nordic front-quarter baseload power contract rose 0.8 euro or 1.9% to 43.00 euros per megawatt hour (MWh) as of 1124 GMT, after touching its highest since May 16 at 43.15 euros. * Nordic front-year […] More »
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Germany, Austria say sanctions among options for Turkey’s Cyprus drilling

Brussels — The European Union will decide on Monday to symbolically punish Turkey over what it calls “illegal” drilling for oil and gas off Cyprus and threaten harsher sanctions in the future unless Ankara changes tack, German and Austrian ministers said. Foreign affairs ministers of the 28-nation bloc meeting in Brussels on Monday are due […] More »
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No impact from Broome earthquake on Australia oil, gas, port operations

Melbourne — Oil and gas operations onshore and offshore Western Australia were unaffected by a magnitude 6.6 earthquake that struck off the northern coast of the state on Sunday, the country’s offshore petroleum safety regulator and companies said. “NOPSEMA has not received any reports of impacts to offshore oil and gas facilities following the earthquake,” a […] More »
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Saturday, 13 July 2019

Belarus pipeline operator pumps dirty oil back to Russia ahead of schedule

Belarus oil pipeline operator Homeltransneft Druzhba has finished pumping contaminated oil back to Russia ahead of schedule, it said on Friday More »
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Russia’s Novatek says natural gas output up 15% y/y in Q2

Russia’s largest non-state natural gas producer Novatek said on Friday its second-quarter gas output rose by 15.2% to 18.91 billion cubic metres (bcm) from the year-earlier period More »
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Samsung Heavy clinches two new deals worth $124 million

OpeOluwani Akintayo Lagos — Samsung Heavy Industries Co. said it has won new deals worth $124 million to build two crude carriers. The deal with a Panamanian shipping firm, the South Korean shipbuilder will deliver two Suezmax tankers by March 2021. It did not name the shipping firm it intends to deliver the tankers to. […] More »
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NDDC spends N2bn on foreign scholarship programme

Mkpoikana Udoma Port Harcourt — The Niger Delta Development Commission, NDDC, says it has paid over N2billion to settle outstanding stipends and fees for students under its Foreign Post-Graduate Scholarship Programme. Acting Managing Director of NDDC, Prof Nelson Brambaifa, when he visited the candidates writing the Commission’s computer-based tests at the Rivers State University, as […] More »
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Norway’s June oil and gas output lags forecast-NPD

Norway’s oil production fell 28.2% year-on-year in June to 1.067 million barrels per day More »
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UK to double investment in Nigeria by 2030

The United Kingdom intends to double its investment in Nigeria by 2030, the British High Commissioner to Nigeria, Ms. Catriona Laing More »
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Norway counsels Nigeria on use of oil/gas to improve power

The Norwegian Ambassador to Nigeria, Mr. Jens-Petter Kjemprud, has advised the country to use its oil and gas More »
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Only 5 percent of Ogoniland contaminated – HYPREP

The Hydrocarbon Pollution Remediation Project, HYPREP, has said that full remediation has commenced on the 16 less complex oil-impacted sites in Ogoniland More »
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Friday, 12 July 2019

OPEC daily basket price closes at $67.57 per barrel

Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $67.57 a barrel on Thursday, compared with $66.10 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), Zafiro (Equatorial Guinea), Rabi […] More »
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Mele Kyari says NNPC will collaborate with EFCC to check graft

Lagos — The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, on Thursday, committed to a robust relationship between the Corporation and the Economic and Financial Crime Commission, EFCC to assist the anti-graft agency in its quest to rid the country of corrupt practices. Delivering a goodwill message at the […] More »
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Thursday, 11 July 2019

Shell’s GMoU funds with Bayelsa communities hit N23 billion

Mkpoikana Udoma Port Harcourt — The Shell Petroleum Development Company of Nigeria Limited SPDC, on Wednesday, said its financial contribution to the development of host communities in Bayelsa State is now over N23 billion under the Global Memorandum of Understanding. The GMoU, according to the Dutch multinational, is a model which places the choice of […] More »
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Israeli firm begins trainings for Nigerian Navy, Army personnel

Vincent Toritseju Lagos — The Israeli firm, Messrs HLSI Security Systems and Technologies, has commenced training of men and officers of the Nigerian Navy and the Nigerian Army in paratrooping and other military tactics. The company was recently awarded a maritime security contract. President of the Maritime Security Providers Association of Nigeria, MASPAN, Captain George […] More »
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Wednesday, 10 July 2019

Oil majors evacuate U.S. Gulf platform staff before storm

Houston — Major U.S. oil producers on Tuesday began evacuating and shutting in production at their deepwater Gulf of Mexico platforms in advance of a tropical disturbance expected to become a storm this week. A tropical depression is expected to form late on Wednesday or Thursday, according to the National Hurricane Center, and move westward […] More »
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Turkey rejects Greek, EU claims that drilling off Cyprus illegitimate

Istanbul — Turkey’s foreign ministry said on Wednesday it rejected statements by Greek and European Union officials that Turkish drilling for gas and oil off Cyprus was illegitimate and said the EU could not be an impartial mediator on the Cyprus problem. The ministry said in a statement that Turkey’s Fatih ship had started drilling […] More »
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Indonesia unblended biodiesel consumption seen at 2.89 mln kl in H1

Jakarta — Indonesia consumed an estimated 2.89 million kilolitres (kl) unblended biodiesel in the first half of this year, 47% of the year’s target, Andriah Feby Misna, director of bioenergy at the energy ministry, told reporters on Wednesday * Indonesia estimates 6.2 million kl of domestic biodiesel consumption in 2019, up from 4.3 million kl in […] More »
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China’s CNOOC, Sinopec to jointly study, explore mostly offshore blocks

Singapore — China’s offshore oil and gas specialist CNOOC Ltd said on Wednesday it entered a framework deal with China Petroleum and Chemical Corp, or Sinopec Corp, to jointly study and explore mostly offshore oil and gas blocks * Under the deal, the two state oil firms will jointly study and explore for oil and gas […] More »
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Saipem CEO says Saudi contracts part of natural gas shift

Milan — Two contracts signed in Saudi Arabia for $3.5 billion by Italy’s oil contractor Saipem are part of a shift in the company’s strategy to focus more on natural gas, Chief Executive Stefano Cao said on Wednesday. Saipem said on Tuesday it won two new contracts from Saudi Aramco for the development of land facilities […] More »
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Q2 IMB Report: Nigeria takes lead in pirate attacks against vessels

Vincent Toritseju Lagos — DESPITE Nigeria’s effort to curb the menace of pirates attacks on vessels particularly in the Gulf of Guinea, Nigeria has continued to lead other countries of the world that are bedeviled by the negative impact of pirates. In the report of the International Maritime Bureau, IMB, January – June 2019, Nigeria […] More »
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W. Africa Crude – Diffs supported by firmer gasoline margins

London — West African spot trade was muted on Tuesday but differentials were still said to be supported by a spike in gasoline margins in Asia, which would boost light grades in particular. * Profits from producing gasoline have surged over 150% in Asia since June due to output cuts and refinery maintenance, industry sources […] More »
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Saturday, 6 July 2019

Nigeria’s House of Reps to prioritise passage of PIGB

*Speaker lauds Baru on industry stability OpeOluwani Akintayo Lagos — The 9th National Assembly will give priority to the passage of the Petroleum Industry Governance Bill, PIGB in order to consolidate and reposition the oil and gas industry for the benefit of all Nigerians. Speaker, House of Representatives, Hon. Femi Gbajiabiamila, made this commitment during […] More »
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OML 25: Shell, host communities sign N1.3bn MoU to reopen flowstation

Stakeholders in Oil Mining Lease, OML, 25 and the Shell Petroleum Development Company, SPDC, have signed a N1.36 billion More »
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Oil & gas account for 95% of UK’s import from Nigeria – Envoy

Oil and gas account for 95 percent of the United Kingdom's import from Nigeria, the British High Commissioner to Nigeria, Ms. Catriona Laing has said. More »
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Tanker blast at Turkish port kills 1 Italian crew member, 15 injured

An explosion at an LPG tanker killed one Italian crew member and injured 15 others at the port of Aliaga More »
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Wednesday, 3 July 2019

Oil & gas account for 95% of UK’s import from Nigeria – Envoy

Mkpoikana Udoma Abuja — Oil and gas account for 95 percent of the United Kingdom’s import from Nigeria, the British High Commissioner to Nigeria, Ms. Catriona Laing has said. Laing speaking at the ongoing Nigerian Oil and Gas Conference in Abuja, also disclosed that the UK has over £5.5million investment in Nigeria and was looking […] More »
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Monday, 1 July 2019

National electricity grid collapses, as Nigerian groan in darkness

OpeOluwani Akintayo Lagos — Electricity customers in some parts of Nigeria are currently living without power supply, despite torrents of rain which should have boosted electricity generation across the country. The latest system collapse reported on Sunday may have worsened the poor electricity supply situation in the country. The Transmission Company of Nigeria, TCN said […] More »
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