The Partner in charge of Energy and Natural Resources at the KPMG Professional Services, Mr. Ayo Salami, has said that the oil blocks recently advertised by the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), should be attractive to investors.
The Managing Director of Bulk Oil Storage and Transportation Company (BOST), Edwin Alfred Provencal, has disclosed that about four cargoes of gasoline (petrol) and gasoil (diesel) under the government ‘Gold for oil’ programme are expected to arrive in the West African nation’s port in the next couple of days.
Earlier this month, the benchmark price for U.S. natural gas fell below $3 per million British thermal units for the first time in almost two years. Forecasts are that it will remain below $3 until at least the middle of the year.
Milder weather, the end of a supply outage in Norway, and expectations of stronger winds in northwest Europe sent on Monday European benchmark natural gas prices down by 4% to the lowest level since September 2021.
The first tanker loaded with Azeri crude left on Monday the Turkish port of Ceyhan, a week after the devastating earthquake in Turkey and Syria halted operations at the Ceyhan terminals.
As Russia’s March 500,000 bpd output cut nears, data from Bloomberg shows that Russia seaborne crude exports have already fallen to a six-week low, but the markets remain relatively unperturbed.
European governments’ bill to shield companies and households from soaring energy costs has soared to nearly 800 billion euros, Brussels-based think-tank Bruegel has revealed.
Things are different now in the global energy markets to the way they were just after Russia invaded Ukraine on 24 February 2022. Back then, things from the oil markets’ perspective looked bleak, with Europe importing around 2.7 million bpd of crude oil from Russia and another 1.5 million bpd of oil products, mostly diesel.
Crude oil prices started the week with a loss as traders await the latest inflation reading from the United States and the market prices in Russia’s stated plans to reduce oil production by half a million barrels.
Tullow Oil Plc has announced that Tullow Ghana Limited (TGL) has filed requests for arbitration with the International Chamber of Commerce in London in respect of two disputed tax assessments received from the Ghana Revenue Authority (GRA).