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Saudi Arabia, Russia buoy oil prices with supply cuts
Sopuruchi Onwuka Leading members of the OPEC+, Russia and Saudi Arabia, have decided to maintain unilateral production cuts till the end of the years in successful bid to keep prices of the commodity above $90 per barrel ($90/b). The supply…
Nigeria becomes global LNG market laggard
Sopuruchi Onwuka Global supply of liquefied natural gas or LNG jumped by significant 5.0 percent in 2022 as increased flow of supply manly from the United States and Middle East shifted from China to Europe where pipeline gas from Russian…
Nigeria’s energy trade charts show internal strategy mess
Sopuruchi Onwuka Nigerian energy trade losses entered a deceleration mode not because the volumes of imports championed by the Nigerian National Petroleum Company (NNPC) Limited reduced, but because the spirited audacity of private local businessmen that risked billions of Naira…
NCDMB’s NCIF supports local businesses with N259 bn
Lays funding model forAfrican energy industry Sopuruchi Onwuka The Nigerian Content Intervention Fund (NCIF) of the Nigerian Content Development and Monitoring Board (NCDMB) has delivered commitment of $324 million or N38.4 billion to significant 69 local businesses in the country….
NCDMB to launch 17 firms from technology incubation centre
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has declared that it will today launch new 17 portfolio companies that have passed through the Board’s Technology Incubation and Innovation Centre (TIIC). The local capacity building agency and domestic…
ACFTA: China’s $160 bn package to fund African industrialization
Sopuruchi Onwuka New race for African governments in the ongoing Chinese loan disbursements would be to advance industrial propositions that would enable flow of local goods and services in the toll free African Continental Free Trade Area (ACFTA), shifting the…
Seplat cites operating terms, domgas pricing as investment baits
Sopuruchi Onwuka Nigeria must offer attractive operating terms and reform the domestic gas market in order to attracts the required level of commercial investments in revving up activity and delivering prime economic aspirations in the petroleum industry. Managing Director of…
NCDMB, NLNG activate E-Marketplace for business opportunities
Affirms Board’s mandate to support local companies Capacity growth driver in the domestic petroleum industry, the Nigerian Content Development and Monitoring Board (NCDMB) has launched the business opportunity dashboard for all qualified players in the sector. Executive Secretary, Engr. Simbi…
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…
