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OPDS arrests vessel with 250,000 litres illegally refined AGO in Rivers

*Commander of NNS Pathfinder, Commodore Desmond Igbo; and Marine Component Commander of OPDS, Commodore Adedokun Siyanbade, who represented the OPDS Commander, Rear Admiral Olusegun Ferreira, on board the MV Cecelia Imo in Port Harcourt Mkpoikana […]

Saudi Arabia oil exports hit 21-month low in June

*Saudi Aramco’s Ras Tanura Sea Island Terminal. Bengaluru — Saudi Arabia’s crude oil exports fell for a third straight month in June to their lowest since September 2021, data from the Joint Organizations Data Initiative […]

Kenya reinstates small fuel subsidy in government U-turn

*A tanker leaves the Rubis fuel station in the central business district of Nairobi, Kenya April 13, 2022. REUTERS/Thomas Mukoya/File Photo Nairobi — Kenya has reinstated a small subsidy to stabilise retail fuel prices for […]

India makes first crude oil payment to UAE in Indian rupees

News wire — India and the United Arab Emirates have started settling bilateral trade in their local currencies with India’s top refiner making payment in rupees for purchase of a million barrels of oil from […]

Oil marketers hint on fresh fuel price hike

*Say naira continued slide impacting price *Call for repairs of local refineries, roads *Fuel dispenser pump Sam Ikeotuonye Abuja — Oil marketers operating in the country have said the continued slide of the naira against […]

YEAC demands investigation into Okrika petrol fire incident

*Okrika petrol fire incident Mkpoikana Udoma Port Harcourt — The Youths and Environmental Advocacy Centre, YEAC-Nigeria, has called for a thorough investigation into the recent petrol fire incident which killed some persons including fishermen in […]

Fuel price hike imminent as oil price soars

*Fuel dispenser nozzle. – Naira weakens to N920/$1 Mkpoikana Udoma Port Harcourt — Increment in the pump price of Premium Motor Spirit commonly known has fuel is imminent, as the Naira has weakened to over […]

‘Oil prices could rise further, but 2024 demand to slow sharply’

*Oil prices – Sees inventory draws in Q3, Q4 if OPEC+ keeps current targets– Trims 2024 demand growth forecast by 150,000 bpd– IEA and OPEC further apart on 2024 demand growth view London — OPEC+ […]

Oil and gas industry overall contract value up by 60% QoQ in Q2 2023

Lagos — The overall oil and gas industry’s disclosed contract value witnessed a significant quarter-on-quarter (QoQ) increase of 60% in Q2 2023, mainly driven by a mega contract for Qatar’s North Field South (NFS) LNG […]

Navy, NSCDC synergize to combat oil theft in Rivers

*NNS Pathfinder Commander, Commodore Desmond Igbo, and NSCDC Commandant in Rivers State, Basil Igwebueze Mkpoikana Udoma Port Harcourt — The Nigerian Navy has expressed its readiness to synergize with the Nigeria Security and Civil Defence […]