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UK’s fossil fuel car ban delay may only stall investment

*Fossil fuels. – UK delay unlikely to affect global pace of EV shift– Analysts say delay is political, unsettles investors– Some brands plan to be fully electric before 2030 London — Britain’s decision to delay […]

China climate envoy says phasing out fossil fuels ‘unrealistic’

*Xie Zhenhua, China’s Special Envoy on Climate Change Singapore –– The complete phasing-out of fossil fuels is not realistic, China’s top climate official said, adding that these climate-warming fuels must continue to play a vital […]

Russia’s gasoline prices on exchange down almost 10% after export ban

*Dispensing of gasoline at a fuel station Moscow — Russian wholesale gasoline Ai-92 grade prices fell by 9.7% to 55,892 roubles ($582) per metric ton on Friday, according to exchange data, following a government ban […]

TotalEnergies to talk about Namibia oil exploration, share buybacks

Paris — TotalEnergies is expected to lay out the potential for its oil discoveries in Namibia at an investor day next week as the French energy firm continues to bet on oil and gas to […]

YEAC-Nigeria proffers solutions to oil theft, organised crimes in GoG

*Personnel of the Operation Delta Safe, OPDS, inspecting impounded boats suspected of involvement in crude oil theft Mkpoikana Udoma The solutions, according to YEAC-Nigeria, include setting up of a multinational Taskforce with other countries in […]

Oil prices rise as supply concerns outweigh demand fears

*Crude oil storage tanks are seen from above at the Cushing oil hub, appearing to run out of space to contain a historic supply glut that has hammered prices, in Cushing, Oklahoma, March 24, 2016. […]

Experts proffer solutions to Nigeria’s midstream, downstream oil & gas sector

*An oil worker standing next to a gas flare boon. Mkpoikana Udoma Port Harcourt — Experts in gas, refining and petrochemical engineering have said that the in-country designing and manufacturing of equipment, tools and components […]

Oil companies cautious about drilling as energy transition looms

*Offshore drilling. Calgary, Alberta — Government policies to fight climate change are discouraging oil companies from investing heavily in new production even as they turn in record profits – a dynamic that could spell tight […]

News

Nigeria earned $23.04bn from oil and gas in 2021

Lagos — Nigerian earned a total revenue of $23.046 billion from the oil and gas sector in 2021, according to the Nigerian Extractive Industry Transparency Initiative, NEITI, 2021 Oil and Gas Industry Report. The report […]

Asia to lead global refinery hydrocracking capacity additions by 2027

Lagos — Asia is expected to witness the highest refinery hydrocracking unit capacity additions globally between 2023 and 2027, contributing about 55% of the total global capacity additions by 2027, says GlobalData, a leading data, […]