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Why OPEC+’s quota boost has no pull on prices
Sopuruchi Onwuka The decision by world petroleum market factor, the Organization of Petroleum Exporting Countries (OPEC) to boost nominal production by 648,000 barrels per day addressed the concerns of industrial economies but failed to shot down prices. Market sources on…
African aviation industry to hit $400 bn valuation by 2040
Africa’s commercial aviation market is projected to hit a valuation of $400 billion by 2040, requiring about 63,000 new professionals over the next 20 years, according to new market outlook by aviation vessel manufacturer, Boeing. .Boeing stated in its outlook…
‘Deteroriating economic outlook pose risk transmission to banks’
Credit rating agency, Fitch Ratings, has declared in a new report Nigerian banks face potential global risk transmission, explaining that operating environments could deteriorate between now and 2023. Fitch said adverse global macroeconomic conditions are already affecting the Nigerian economy,…
Russia seeks new buyers after EU sanctions to cut oil imports
The government of Vladimir Putin of Russia has declared intention to divert its crude oil shipments to other countries after major customers in the European Union voted to drastically cut imports from the country. Russia is also cutting off more…
Modular refiners post outlook for 146,000 b/d
NCDMB facilitates 21,500 b/d capacity Sopuruchi Onwuka Nigerian Content Development and Monitoring Board (NCDMB) has successfully facilitated the development and streaming of four small scale refineries in the country, creating a commercial pathway for potential internal modular refining capacity for…
NCDMB lauds Temile/Hyundai deal to Build New LPG Vessel
The Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday congratulated an indigenous shipping company, Temile Development Company on the contract signing agreement with Hyundai Mipo Dockyard (HMD) for the construction of a new 23,000 cubic meters Liquefied Petroleum Gas…
NMDRA demands more refining, petrochemicals investments
As NCDMB holds maiden midstream summit Sopuruchi Onwuka The Nigerian Midstream and Downstream Regulatory Authority (NMDRA) is advocating greater investments in crude oil and gas processing in order to curb gross financial mismanagement domestic fuel supplies. The development runs in…
Twitter’s deal with Elon Musk progressing _CEO
Twitter’s CEO, Parag Agrawal, and its legal chief, Vijaya Gadde, told employees on Thursday that the deal is not “on hold” and reassured staff that the deal will go ahead, Insider reported. The revelation came after several remarks by Elon…
Awute advocates transportation policies review, better synergy
The federal government has been called upon to review its transportation policies in order to build a symbiotic relationship between the Ministries of Aviation, Transportation and Works so as to create a more integrated transportation system that would fast track…
MPN divestment: Why NNPC shook the table
Sopuruchi Onwuka Inability of the highly anticipated acquisition of Mobil Producing Nigeria (MPN) Unlimited by leading indigenous independent firm, Seplat Energy Plc, to scale initial ministerial assent amplifies the new hard-line position of the Nigerian National Petroleum Company (NNPC) Limited…
