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Friday, August 14, 2020

Offshore oil industry suppliers fight to be fit for frugal future

STORD, Norway (Reuters) - Rising more than 20 meters above the sea, Statoil’s (STL.OL) Aasta Hansteen platform towers over the Stord shipyard in western Norway, representing the height of engineering in the offshore oil sector. It will probably be the last platform of its kind...

ExxonMobil, Shell, Total, others to cut exploration spending in 2018

Lagos — International oil majors such as ExxonMobil, Shell, Total and others will cut investment on exploration in 2018. In a report by consultancy Wood Mackenzie (WoodMac), this year, the IOCs are not again bothered by pressure to replace reserves, making it the fifth year...

Nigeria’s Qua Iboe crude oil export to hit 230,000bpd in Q1’2020 as Bonny light slumps

LONDON - Exports of Nigerian Qua Iboe crude oil are set to rise in February, while those of Bonny Light will fall, according to preliminary programmes seen by traders. Exports for Qua Iboe have been set at 230,000 barrels per day (bpd) in February versus...

Nigeria, Sao Tome and Principe, Total sign oil production sharing deal

ABUJA - Nigeria, Sao Tome and Principe and Total SA signed an oil production sharing contract on Thursday, according to a joint statement. “Nigeria and Sao Tome and Principe through their joint oil zone organization have signed a production sharing contract with Total E&P...

Yinka Folawiyo’s Aje OML 113, $250m gas projects suffer financial setbacks

OpeOluwani Akintayo Lagos — Folawiyo’s operated Aje Field in Oil Mining Lease, OML 113 offshore Nigeria, and his partners are currently finding it difficult to pull through the running and development of the project, our correspondent has learned. The field is operated by Yinka Folawiyo Petroleum....

Analysts see Dangote’s $15 Billion Oil Bet Reduce Nigeria’s Fuel Import, But Affect Profits on Domestic Sales

Nigeria’s Aliko Dangote building crude refinery near Lagos Billionaire also investing in fertilizers, gas distribution Aliko Dangote has made a fortune out of cement and food processing. Now, Africa’s richest person is embarking on a bigger challenge: a $15 billion investment in oil, gas and petrochemicals...

Nigeria, Sao Tome invest $129m on JDZ operations

28 March 2017, Sweetcrude, Lagos – Nigeria and Sao Tome and Principe have so far spent over $129 million on the Joint Development Zone, JDZ, they formed 15 years ago to enable a rancour-free exploitation of oil and gas resources in the area within...

TCN gives reasons for grid collapse despite $1.6b investments

Despite the $1.6billion investments in transmission lines and substations, the Managing Director, Transmission Company of Nigeria (TCN), Mr. Usman Gur Mohammed Saturday gave excuses why the electricity system has been experiencing incessant system collapse. While he blamed the mess the investment that was yet to...

Nigeria, Niger Closer to Building 150,000bd Boarder Refinery

Nigeria and the Niger Republic on Tuesday made some progress on the planned construction of a 150,000 barrels per day (bd) processing capacity refinery to be built in a border town in Katsina between both countries. Both countries in Abuja, set up two task teams...

Total to buy shares in Kenyan oil blocks from AP Moeller-Maersk

NAIROBI (Reuters) - France’s Total SA will acquire shares in three Kenyan oil blocks from AP Moeller-Maersk, the office of Kenya’s President Uhuru Kenyatta said in a statement on Tuesday. Reporting by Duncan Miriri; editing by Jason Neely
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