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CATEGORY

Energy

New Nigeria Nembe Oil to Compete With Brazil, Azeri Grades

Nigeria's state-controlled NNPC unveiled a new light crude oil called Nembe, expected to compete with Brazilian and Azeri grades in the European refining market. An...

Nigeria Concrete Roads Plan Reduces Bitumen Demand

Nigeria's policy push to switch to concrete roads from asphalt for its projects has begun to affect some existing paving work, denting bitumen requirements...

NUPRC Says Local Refineries Must Get Crude Supply Before Export

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) yesterday met with crude oil producers in the country in its renewed bid to ensure that local...

Russian Urals Oil at $81 Trading Above G7 Price Cap

The average price of Russia’s flagship Urals blend of crude oil was $81.52 a barrel in October, the Ministry of Finance reported on Wednesday,...

Brent Edges Above $85 as Traders Focus on Israel-Hamas War

Brent traded above $85 after slumping in the first two days of the week, as a still-contained Israel-Hamas war caused attention to shift to...

Russia Set to ‘Sharply Increase’ Oil Exports in November

Russia is likely to sharply increase oil exports in November, business daily Kommersant reported on Tuesday, citing Kpler analysts. According to the report, the country’s...

Tinubu Seeks N2trn Discos’ Recapitalisation, Tariff Review

President Bola Tinubu, called for the recapitalisation of power distribution companies (Discos), to the tune of N2 trillion. Tinubu, who spoke during the Nigeria Electricity...

Seplat Energy Operating Profit Slumps 7.42% in Q3

Seplat Energy Plc’s third-quarter operating profit dropped 7.42 percent, the company said, joining rivals hurt by the sharp decline in energy prices and lower...

Gas Flare: Enugu Puts Out Fire, To Harness State’s Energy Potential

Men of the Enugu State Fire Service have successfully put out the gas flare that erupted during a borehole drilling activity at the Federal...

Germany Eyeing Nigeria Gas Imports to Diversify Supplies – Scholz

Germany is eyeing imports of natural gas from Nigeria in an effort to secure and diversify its energy supply, Chancellor Olaf Scholz said during a visit...

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