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EU votes to ban petrol, diesel fired vehicles
Lawmakers in the European Unions have initiated legislation to enforce ban on cars and light vehicles that drive on petroleum liquids and accelerate transition to electric vehicles. The ban is part of key decisions the lawmakers voted in the week…
Ukraine war: NLNG can’t compete for new market space
Sopuruchi Onwuka The new redirection of energy supply flows has become the real prize of the raging war following the barrage of diplomatic and trade sanctions countries in the Western military and economic alliances slammed on Russia in response it…
Oando, LAMATA strike deal to pioneer EV mass transit in Nigeria
Sopuruchi Onwuka Indigenous energy company, Oando, has committed to pioneering mass roll out of electric busses and supporting infrastructure to facilitate Nigeria’s first emission free public transport system. A unit of the company, Oando Clean Energy Limited (OCEL), signed a…
WED 2022: Chevron cuts gas flaring by 95%
Sopuruchi Onwuka American oil multinational, Chevron, has declared full conformity with all standards in operational responsibility and environmental consciousness in it petroleum exploration and production businesses. Local affiliate, Chevron Nigeria Limited (CNL) which operates a joint venture agreement with the…
Citi blames price surge on Ukraine war, values crude oil at $70
Global investment bank and industry advisory firm, Citi Group has thrown support for the position of the Organization of Petroleum Countries (OPEC) on the surging crude oil prices, saying that the prevailing strong prices are not a product of fundamental…
Buhari, Kyari woo petroleum investors in Spain
The Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mallam Mele Kyari has reiterated his commitment to sustain the strategic energy partnership between Nigeria and Spain. Mallam Kyari who is also the Group Managing Director of the…
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…
World’s top rice producers plan price hikes
Thailand and Vietnam are planning to increase the price of their rice exports, raising concerns in the global community over world hunger already exacerbated by export glitches inflicted by Russian invasion of Ukraine. Multiple media reports surveyed by The Oracle…
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…
LP primaries: Prof Utomi, Joseph Faduri concede to Peter Obi
Sopuruchi Onwuka The 2023 presidential elections will indeed solidify the nation’s democracy as Mr Peter Obi who switched from the Peoples Democratic Party (PDP) has been served the presidential ticket of Nigeria’s populist political platform, the Labour Party. Mr Obi…
