Midstream

Lagos in talks with Golar LNG to help boost state’s energy security

Nov 2, 2018

The Lagos State Government says it is in discussions with a provider of a floating storage special unit (FSRU) to deliver off-grid energy security for the region. It is hoped the US$3bn gas-to-power project, known as the Embedded Power Supply Programme, will provide 3,000MW of electricity and will kick start the deregulation of the Nigerian…

Read More

Spot trading thin for Nigerian crude as traders await Pertamina results

Nov 2, 2018

Some November cargoes of Nigerian crude were still on offer on Thursday but sellers stayed generally on the sidelines as they awaited a significant tender result. Up to 10 cargoes are left from Nigeria’s November loading programme. Shell was offering a cargo of Agbami loading Nov. 25-27 at dated Brent plus 30 cents a barrel.…

Read More

NNPC, BP sign petrol supply agreement ahead of 2019 elections

Nov 1, 2018

Moves to guarantee petrol availability nationwide and all-year-round was solidified, on Thursday, as the Nigerian National Petroleum Corporation (NNPC) has signed a six-month Direct Sale-Direct Purchase (DSDP) agreement with the British Petroleum’s (BP) trading arm, BP Oil International Limited, for the supply of Premium Motor Spirit, also known as petrol. This latest agreement will represent…

Read More

Reps summon NNPC GMD, others over ‘missing’ N91trn oil revenue

Nov 1, 2018

The House of Representatives Committee on Petroleum (Downstream) yesterday summoned the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, over alleged missing N91trillion oil revenue. Also to appear alongside Baru, in a yet to be fixed date, are Managing Directors of Alkhairi Oil Plus Energy Limited, Mr. Ibrahim Bature and Mahat Petroleum/Gas…

Read More

Nigerian crude offers too pricey for buyers

Oct 31, 2018

Spot trade in Nigerian cargoes remained slow on Wednesday, thanks to a stalemate that has developed between the owners of physical barrels and the buyers that believe offers are too high. Nigerian Bonny Light, Bonga and Qua Iboe were offered at around dated Brent plus $1.75 a barrel, unchanged from the previous day, but found…

Read More

MRS, Trafigura sell Forcados as high freight rates weigh on Asian demand

Oct 31, 2018

Some spot cargoes traded on Tuesday but overall buying interest had slowed due to rising freight rates, particularly to Asia. Nigerian Bonny Light, Bonga and Qua Iboe were being offered at around dated Brent plus $1.75 a barrel. Traders said that MRS and Trafigura sold cargoes of Forcados loading Dec. 5-10 but price and buyer…

Read More

Axxela CEO tasks stakeholders on Nigeria’s gas sector growth

Oct 30, 2018

The Chief Executive Officer of Axxela Limited, Bolaji Osunsanya has tasked stakeholders in the nation’s gas sector to find lasting solutions to the challenges besetting the industry. He gave the challenge Axxela’s in his keynote address titled “Actualising Gas Infrastructure Development; Untangling the Bottlenecks”, delivered at the recent Nigerian Gas Association conference and exhibition in…

Read More

NNPC’s marine arm makes first oil product delivery to Nigeria in 8yrs

Oct 30, 2018

NIDAS, a wholly owned subsidiary of the Nigerian National Petroleum Corporation (NNPC) engaged in marine transportation of crude oil and petroleum products has chartered a tanker, Atlantica Bridge, to load jet fuel from Egypt for delivery to Nigeria. This is the first oil-products tanker chartering by NNPC/NIDAS since 2011, NIDAS Managing Director Lawal Sade said.…

Read More

Nigeria sees crude differentials edge higher

Oct 29, 2018

Nigerian crude differentials edged higher on Monday, though trade remained hampered by expensive freight, traders said. Nigerian December-loading Qua Iboe crude cargoes were last offered between $1.60 and $1.70 above the dated Brent price, up from recent indications closer to $1.35-$1.40, traders said. No offers for Forcados were reported, traders said. Source: Reuters

Read More

Indian tenders mop up Nigerian crude, Vitol offers Forcados in window

Oct 29, 2018

Tenders mopped up some Nigeria crude for December but spot trade ended the week on a quiet note, with high freight rates still weighing on the market. In the window, Vitol offered a cargo of Forcados on a delivered basis at dated Brent plus $3.50 a barrel cif Rotterdam for Dec. 25 to Jan. 5…

Read More

SUBSCRIBE TO LATEST ENERGY NEWS

Read the latest energy industry news and researched articles
for oil and gas, power generation, renewable energy, events and more...