Despite multi-layered international sanctions on Russia following its 24 February 2022 invasion of Ukraine, President Vladimir Putin’s ‘special energy project’ – developing the country’s massive gas and oil resources in the Arctic – took a major step forward last week as it was confirmed that the flagship Arctic LNG 2 will begin operations before the end of this year.
This weekend, the chief executive of BP, Bernard Looney, said that the world needs to invest in more oil and gas production.
Suriname’s President Chan Santokhi had pinned his hopes on a massive oil boom to reinvigorate the former Dutch colony’s crisis-prone economy. Those hopes were dashed when French energy supermajor TotalEnergies delayed the billion-dollar final investment decision (FID) for Block 58 offshore Suriname.
The Parliamentary select committee on mines and energy has found no evidence of any losses from a deal between the Ghana National Petroleum Corporation (GNPC) and Genser Energy Ghana Limited (GEGL), concluding an investigation into unfounded claims of irregularities.
The net profit margin of the Bulk Oil Storage and Transportation Limited Company (BOST) has increased from GH₵161 million in 2021 to GH₵342 million in 2022.
The Minister of Energy, Dr. Matthew Opoku Prempeh, has assured of the government’s support in reviving the Tema Oil Refinery (TOR) to boost downstream petroleum production.
The Presidency has directed the Federal Ministry of Petroleum Resources to suspend its activities on the constitution of a committee to audit the account of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC).
An oil theft situation assessment delegation deployed in the Niger Delta by President Bola Tinubu discovered an illegal oil connection on Saturday.
Finance Minister Zbyněk Stanjura said on Czech Television on Sunday that the finance ministry is looking to reduce its support for renewable energy sources, possibly by changing the law to limit subsidies
Nigeria still losing 400,000 barrels of crude oil daily – NSA
27th August 2023
Ribadu
Ribadu while addressing newsmen during an inspection of oil and gas facilities at Owaza in Abia and Odogwa in Etche Local Government Area of Rivers on Saturday. Photo: NAN.
Agency Report
The National Security Adviser, Malam Nuhu Ribadu, says the country is still losing 400,000 barrels of crude oil daily to local and international thieves despite efforts to end the menace.