The Host Communities of Nigeria Producing Oil and Gas (HOSCON) will hold its oil and gas summit on the smooth implementation of the Petroleum Industry Act on May 25 at the Petroleum Training Institute, Efurun, Warri, Delta State, the body said at the weekend.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), at the weekend disclosed that it had established an Energy Transition and Carbon Monetisation unit in line with the federal government’s 2060 net-zero aspiration for carbon emissions.
Despite the global clamour for decarbonization and energy transition, oil and gas remain relevant in the global energy mix, an official said.
President Muhammadu Buhari will on Monday commission the 650,000 BPD Dangote Petroleum Refinery and Petrochemicals.
NNPC Ltd charts the path to consolidating gains, maximising capacity, unleashing potential, and spurring growth while igniting the optimism of stakeholders by providing updates on triumph over adversity in recent months.
Crude oil prices look set to record their first weekly gain since mid-April as sentiment about future demand improves amid signs there may be progress on the debt ceiling negotiations in Congress.
Last month, we reported that energy experts have been growing increasingly bearish on the oil price outlook compared to previous sentiment. Four energy agencies including the IEA and OPEC Secretariat have made their predictions for oil demand growth in 2023, with the only common theme being that all four expect demand to grow compared to 2022, but all are less optimistic than they were a year or so ago.
Following a brief respite at the end of last week, the wildfires in Alberta began raging again this week as temperatures rose, threatening the oil sands operations in the province and forcing operators to shut in oil and gas production.
Oil prices shed 1% in Thursday morning trading over American debt and the prospects for a historic default, despite gains on Wednesday driven by demand optimism in the U.S. market.
Latin America’s largest economy Brazil has experienced a massive oil boom over the last decade and a half that saw the country become the top regional and leading global petroleum producer.