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Iran seizes one oil tanker, chased away from two
Sopuruchi Onwuka It has been a busy week for the United States Navy in the Persian Gulf where it was struggling to ward off relentless Iranian forces from disrupting flow of merchant vessels ferrying commodities through the Strait of Hormuz….
Geometric brings 188 MW plants online by August
Sopuruchi Onwuka Leading captive power provider, Geometric Power Limited, is perfecting processes to commission its 188 megawatts generation plants in Aba, Abia State, where the company also operates its electricity distribution concession. Chairman of the company, Professor Barth Nnaji, declared…
“NDEP has always produced on-spec fuel!” __Falade
Yes, you can pardonably mistake him from his identical twin brother who is also in the same field of play. The Managing Director of Niger Delta Exploration and Production (NDEP), Engr Gbite Falade, is a familiar face whose image looms…
Nigerian is OPEC laggard with $51 per capita oil income
Sopuruchi Onwuka Nigeria sits at the base of the per capital oil income ladder of the Organization of Petroleum Exporting Countries (OPEC), posting paltry $51 income for each of her citizens in the first five months of the year. According…
Global crude oil reserves jump by 52 Bbbls to 1.6 Tbbls
Upstream players to spend $528 bn in 2023 Sopuruchi Onwuka Despite the rave about peak oil and energy transition, upstream petroleum players across the globe still had the demand incentive to invest in discovery of over 52 billion barrels of…
‘Nigerian petroleum industry is ripe for indigenous crew change’
The upstream petroleum industry is witnessing transition from IOCs to independents. And issues of operating capacity are throwing up disputes. How do you think Nigeria should manage the challenges associated with the emerging crew change? At this stage, I think…
Debts everywhere: NNPC owes oil traders N2.3 trn
Sopuruchi Onwuka The desperate efforts by the new administration of President Bola Tinubu to gain control of the country’s fiscal channels may suffer glitches as more and more debts float to the surface. In addition to the current pile of…
Malaysian oil production hits ceiling at 2.0 mmboed
Sopuruchi Onwuka Oil and gas production from the state of Malaysia will reach the maximum capacity of 2.0 million barrels of oil equivalent per day (MMboed) by next year before maintain a plateau of taking a plunge. The Malaysian national…
E. Guinea posts zero oil export in May
Sopuruchi Onwuka Crude oil export from Equatorial Guinea dropped to zero in the month of May in proportion to the country’s cumulative production in the same month. Market sources quoting tanker tracking Petro-Logistics checked the box for zero export from…
Workers hospitalized in Russian gas field brawl
Sopuruchi Onwuka It appears everything about Russia is fighting its way into international stage where the country’s reputation as garrulous players is building from its invasion of Ukraine through a spark of militant insurrection that attempted a regime change. This…
