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JP Morgan sees oil hitting $125 in 2022
Crude oil could soar to $125 per barrel next year and $150 in 2023 due to OPEC’s limited capacity to boost production, JP Morgan analysts said in a new report. “OPEC+ is not immune to the impacts of underinvestment…. We…
PIA: IOCs plan $60 bn FID on 6 deepwater projects
Sopuruchi Onwuka International oil companies that hold substantial reserves in the Nigerian deepwater basin will ink landmark final investment decisions (FIDs) on six offshore oil and gas developments by next year, ending over 12 years of activity lull in the…
NCDMB disburses $350m from $300m NCI Fund
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has disbursed significant $350 million or N157.5 billion to various oil service and community contractors involved in providing goods and services to the petroleum industry. The disbursed fund amounting to…
Deregulation: Stakeholders demand local refining, energy diversification
Sopuruchi Onwuka Thought leaders in the Nigerian petroleum industry hold strongly that the prevailing debate on the best ways to shape the local fuel market under the new Petroleum Industry Act is to totally domesticate production and liberalize the market….
Chevron, partners deliver 72 projects for the Itsekiri
Sopuruchi Onwuka The Itsekiri Oil and Gas Producing /Impacted Communities Development Committee (IPCDC), popularly known as IRDC, has completed and commissioned 72 projects worth over one billion Naira. The projects which were executed under the auspices of the Global Memorandum…
All On in million dollar deal with Salpha Energy Limited
Sopuruchi Onwuka Impact investment company, All On, has said it has entered $1.0 million investment deal with Salpha Energy Nigeria to scale the company’s solar home systems distribution business. All On is funded by oil firm, Shell; and its solar…
Seplat offers processing capacity for gas flare monetization
Diversifies into renewables Sopuruchi Onwuka Prominent indigenous energy company, Seplat Energy Plc, has thrown open processing services at its natural gas plants for players seeking opportunities in the domestic market. Managing Director, Mr Roger Brown, stated that the company’s huge…
Energy transition is late, behind demand surge ___Avuru
Sopuruchi Onwuka Eminent geologist and petroleum industry investor, Mr Austin Avuru, is not in any panic about the prevailing global indignation against the industry. Instead he is calling on investors to muster funds for investments in meeting rapidly growing demand….
Orjiako to step down as Chairman of Seplat
Seplat Energy Plc has announced the decision of its Chairman, Dr. A.B.C. Orjiako to step down as Chairman and from the Board of Directors of Seplat Energy Plc. Company spokesman, Dr Chioma Nwachuku, stated in a media release that Dr…
Commercial returns: Kyari wins Zik Leadership Award
Sopuruchi Onwuka The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kyari, has become the first administrator at the corporation to bag the prestigious Zik Leadership Award following his focus on steering the national oil company…
