Look around at what other countries are doing to tackle climate change. Are you a fan of the US’s Inflation Reduction Act? It is, in part, funded by an explosion in the US’s production of shale gas. Do you like Norwegian subsidy schemes for electric vehicles? Those are partly funded by Norway’s oil and gas exports. Can you name one of our biggest competitors in developing carbon capture technology? One of the largest is Saudi Arabia.
The Managing Director of Omiti Engineering, Nduka Nwosu has said that the new licensing round for 19 oil blocks will unlock opportunites for indigenous firms.
The MD said this at the launch of the bid round by the Minister of Petroleum Resources, Heineken Lokpobiri and Nigerina Upstream Petroleum Regulatory Commission’s Chief Executive, Gbenga Komolafe.
Oil climbed after government data showed a decline in US stockpiles, signaling a tighter physical market.
The oil price selloff appears to have been triggered by a return of demand pessimism thanks to last week’s report by the EIA that showed a 7.3M-barrel build in U.S. crude stocks.
Standard Chartered: demand fears are overblown.
StanChart says that traders are betting that OPEC+ will maintain the current levels of production restraint.
Crude oil prices recovered lost territory today after the U.S. Energy Information Administration reported an inventory draw of 1.4 million barrels for the week to May 3.
Saudi Aramco has raised the official selling price of all the grades it exports to Asia, with flagship Arab Light for delivery in June set to become $0.90 more expensive, Bloomberg reported citing a pricing list it had seen.
Norway saw cash flow from its stakes in oil and gas fields nearly halve in the first quarter of 2024 compared to the same period of 2023, as natural gas prices slumped and gas consumption in Europe was below expectations, said state company Petoro, which manages field holdings of Western Europe’s top oil and gas producer
While Rwanda is commemorating 30 years of genocide, many Africans know all too well what can happen when media outlets single out certain groups of people and Individuals for constant attacks. Radio Télévision Libre des Mille Collines instigated the hate. “The Namibian” newspaper has become the Radio Télévision Libre des Mille Collines of Namibia with their hate fill rhetoric and xenophobia. Africans understand how demonisation cultivates hatred that leads to death on a horrifying scale.
Spanish oil major Repsol SA expects production to climb with the addition of two oil fields in a joint venture with Venezuela, where the company is exempt from reimposed US sanctions.
Prime Minister Shehbaz Sharif has ordered probe into the curtailment of gas supply to the public gas utilities because of delay in payments.