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IPMAN backs privatization of Nigeria’s four refineries

*NNPC refinery, Port Harcourt Mkpoikana Udoma Port Harcourt — The Independent Petroleum Marketers Association of Nigeria, IPMAN has thrown its weight behind the call for the privatization of the nation’s four refineries, for efficiency and […]

‘US drillers cut oil & gas rigs for third week in a row’

*US weekly offshore rig count. London/Dubai — U.S. energy firms this week cut the number of oil and natural gas rigs operating for a third week in a row for the first time since early […]

‘OPEC raises oil demand view in long-term outlook’

London/Dubai — OPEC has raised its medium- and long-term oil demand outlook in a forthcoming report, three OPEC sources said, despite the transition toward renewable energy, highlighting the oil exporting group’s more bullish view compared […]

FG issues gas supply licence to Ohuru Trading Limited

*L-R: Minister of State for Petroleum Resources Gas, Honourable Ekperikpe Ekpo, Chief Commercial Officer of Uhuru Trading Company, Mariah Lucciano-Gabriel and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed during the award of the first […]

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Indian Oil Corp seeks three LNG cargoes for Oct-Nov delivery

London — Indian Oil Corp (IOC) (IOC.NS) has issued a tender seeking three cargoes of liquefied natural gas (LNG) to be delivered between October and November, said two industry sources. IOC is seeking one cargo […]

‘OPEC+ gambles that crude isn’t too expensive to crimp demand’

*Crude oil cargo vessel. Launceston, Australia — Saudi Arabia and Russia, the de facto leaders of the OPEC+ group of oil exporters, have extended their voluntary production cuts to at least the end of this […]

Oil up after OPEC+ maintains output cuts

*OPEC+ barrel stock – But shaky demand caps gains Singapore — Oil prices inched up on Thursday, clawing back some of the previous session’s big losses after an OPEC+ panel maintained oil output cuts to […]

UK’s Petrofac gets over $600m CCC from ADNOC Gas

*ADNOC Gas Bengaluru — UK oil services firm Petrofac (PFC.L) said on Tuesday it got a more than $600 million contract from ADNOC Gas (ADNOCGAS.AD) for the Habshan carbon capture and storage (CCS) project, as […]

PetroNor improves OML 113 operations with a $20m acquisition

Lagos — PetroNor E&P has announced a binding agreement with New Age (African Global Energy) to acquire New Age’s interests in OML 113 in Nigeria which contains the Aje field. This acquisition not only strengthens […]

Oil falls 1% on strong US dollar, mixed supply cues

London — Oil prices slipped by around 1% in early Asian trade on Tuesday, after falling to a three-week low in the previous session, on a stronger U.S. dollar, rising U.S. bond yields and mixed […]