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‘China’s CNOOC stockpiles Russian oil at new reserve base’

*A building of China National Offshore Oil Corp (CNOOC) headquarters is pictured in Beijing, China March 8, 2021. REUTERS/Tingshu Wang/File Photo. – CNOOC ramps up ESPO imports since November, traders, Vortexa say– Stores over 10 […]

Lokpobiri blames oil production shortfall on Shell’s TNP

*Heineken Lokpobiri – Targets 1.7mb/d oil & condensate production Mkpoikana Udoma Port Harcourt — The Minister of State for Petroleum Resources (Oil) Senator Heineken Lokpobiri, has blamed the steady decline in Nigeria’s oil production capacity […]

UK climate change minister Graham Stuart resigns

Stuart said he would stand again for Prime Minister Rishi Sunak’s Conservatives in an election expected later this year, with the opposition Labour Party leading in polls by a large margin. “Having served as a […]

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US finalizes big reforms to federal oil and gas drilling

The new rules follow years of criticism from green and taxpayer groups that federal oil and gas development was not benefiting the public. Many of the changes formalize provisions in Biden’s landmark climate change law, […]

Climate verdict for Swiss women a warning for European states, oil industry

The climate case – one of three decided on Tuesday – was the first to be tested at Europe’s regional human rights court. Earlier lawsuits filed over the last decade in courts around the world […]

NSCDC dismantles illegal refinery in Rivers

*Artisanal oil refining site in Adobi-Akwa, Rivers state. Mkpoikana Udoma Port Harcourt — The Nigeria Security and Civil Defence Corps, NSCDC, says it has uncovered an illegal refinery at Adobi-Akwa settlement in Etche Local Government […]

Texas oil & gas production sets new records in 2023

*West Texas pump jack rig. Newswire – Texas’ major energy industry reached new peaks last year with records set for both oil and gas production. The Railroad Commission regulates the Texas oil and gas industry […]

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OPEC sees robust summer oil demand, economic upside potential

The Organization of the Petroleum Exporting Countries, in a monthly report, said world oil demand will rise by 2.25 million barrels per day (bpd) in 2024 and by 1.85 million bpd in 2025. Both forecasts […]

Reduced diesel prices will help curb Nigeria’s inflation

*Fuel dispenser nozzle. Oritsegbubemi Omatseyin Lagos — Chairman of Dangote Group, Alhaji Aliko Dangote, has said that his refinery’s ability to sell diesel at significantly discounted prices will provide immediate relief to Nigeria’s inflation woes. […]

Global oil demand to grow by 108mb/d by 2030

*Global oil flow. – Despite “peak oil” outlook London — Enverus Intelligence Research (EIR), a subsidiary of Enverus, has released a new report highlighting the organization’s view that it does not expect global oil demand […]