Oil & Gas – Page 57 – Platformsafrica

Nigeria Mulls Surge of 20% Share In African Lube Market

May 6, 2022 ADEOLA YUSUF

OVH Energy Marketing joins conversations on eradication of substandard lubricants in Nigeria Nigeria’s Lubricant market currently accounts for about 20% of Africa’s total lubricant demand and the country is planning to surge this share theough the adoption of innovative technological advancements, favorable regulations, increased stakeholder collaborations, and consumer education. Platforms Africa reports that stakeholders and participants at the virtual 2022 Nigeria edition of the International Lubricants Conference (ILC) who said this, shared insights on global trends as well as practical suggestions to improve the state of the industry. READ ALSO:…

Addax Confirms One Dead in OML 124 Flowstation Bomb Explosion

May 6, 2022 ADEOLA YUSUF

“What we know about the explosion and how corpse, IEDs were found at the site in Imo,” Chines oil firm opens up Addax Petroleum Development Nigeria Ltd. says a suspected vandal died in Wednesday’s explosion at its flowstation in Izombe, Imo. Platforms Africa reports that the oil firm in a statement on Friday by its spokesperson, Mrs Awatt Etta, said that an unexploded explosive device and the corpse of the suspected vandal were found at the incident site within its Oil Mining Lease (OML) 124. Addax said it was…

Oil rises as supply concerns persist

May 6, 2022 Abibat Babalola

Oil prices climbed for a third straight session on Friday, shrugging off concerns about global economic growth as impending European Union sanctions on Russian oil raised the prospect of tighter supply. Brent futures rose $2.08, or 1.88%, to $112.98per barrel by 0922 GMT, while U.S. West Texas Intermediate (WTI) crude climbed $2.00, or 1.85%, to $110.26 a barrel. READ ALSO: Oil Prices Rebound To $107.91 Per Barrel Oil price rises as OPEC projects steady demand growth 275 Oil Workers, Others Escape As Saipem Crane Vessel Nearly Sinks Brent and WTI…

Why U.S. Is Enacting NOPEC, A bill to crush OPEC

May 6, 2022May 6, 2022 Abibat Babalola

The U.S. leads the onslaught on OPEC with a bill to expose the oil producers’ group or its members to lawsuits for orchestrating supply cuts that raise global crude prices. Here is what to know about the NOPEC bill, in 700 words A U.S. Senate committee was expected to pass a bill on Thursday that could open members of the Organization of the Petroleum Exporting Countries and its partners to antitrust lawsuits for orchestrating supply cuts that raise global crude prices. The No Oil Producing and Exporting Cartels (NOPEC)…

Nigerian Officials, IOCs Shun PETAN’s OTC 2022 Event

May 5, 2022 ADESUPO OSOSANYA

The Petroleum Technology Association of Nigeria (PETAN) event at the annual Offshore Technology Conference (OTC) appears to be losing its glamour as the 2022 edition suffered low turnout of participants, especially top industry operators, policy moulders, government functionaries among others. The PETAN, an association of indigenous technical oilfield service companies providing specialized services to the upstream and downstream sectors of the Nigerian oil and gas industry, has been responsible for leading the Nigerian delegation to the prestigious event annually and is still offering tangible business opportunities for the supply chain.…

Nigeria Undermines OPEC Projections, Fails To Meet Quota In April

May 3, 2022 Abibat Babalola

Nigeria, Libya and a handful of African countries again hobbled the projected oil production plan by the Organisation of Petroleum Exporting Countries (OPEC) in April, failing to meet the quota allocated to them by the oil producers’ group. Crude oil theft and lack of investment made Nigeria lose on the average between 350,000 to 400,000 barrels per day during the period under review according to the minister of state for Petroleum Resources, Timipre Sylva He said the country has, however, begun to ramp up its production level and very soon…

OPEC Offers $14.3m Funding For Nigeria-Morocco Gas Pipeline

May 1, 2022 ADEOLA YUSUF

The OPEC Fund for International Development (OPEC) will provide $14.3 million to finance the second phase of the studies in the submarine Nigeria-Morocco gas pipeline project. Platforms Africa reports according to a statement by the Moroccan Ministry of Finance on Friday that the agreement was signed by the Moroccan Finance and Economy Minister Nadia Fettah and the General Director of the OPEC Fund, Abdulhamid Alkhalifa. This gas pipeline project would, according to data compiled by Platforms Africa,cover 7,000 km long through 13 West African countries, and extend to Europe READ…

Oil Theft: Fact And Figures Of A National Emergency, By Adeola Yusuf

April 30, 2022April 30, 2022 ADEOLA YUSUF

Crude oil theft has grown into a huge monster threatening the Nigerian economy, the Niger Delta environment and its people. Energy policy analyst, Adeola Yusuf, in this analysis uses data and dates to show why it is imperative for all Nigerians to rise against the monster The Group Managing Director and Chief Executive Officer (GMD/CEO) of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari, it was who first described the crude oil theft as a national emergency. Kyari placed his conviction on account of the proportion, dimension…

Caleb Varsity Best Graduands Get Atlantic Refinery CEO’s N15m Prize

April 27, 2022 ADEOLA YUSUF

Oil mogul begins building of IT Centre, Institute of African History & Archeology; pays fees of 22 new students Chief Executive Officer of Atlantic International Refinery and Petrochemical Limited, Dr. Akintoye Akindele, has fulfilled the promise he made at the 11th Convocation of Caleb University in February by presenting a cheque of five million Naira each, totaling fifteen million Naira to the Overall Best students in female, Best Male, and Best Post Graduate categories. READ ALSO: Strike: Buhari Has Stopped Our Salary, ASUU Members Cry Out 3 Nigerians Named In…