Tag: Oil & Gas Industry
π³π¬ Oil Spill Reported at Shell Terminal in Nigeria’s Delta Region
A significant oil spill has been reported at Shellβs Bonny loading terminal in Nigeria’s Delta region following a pipeline rupture, according to the Nigerian Maritime Administration and Safety Agency (NIMASA). The incident, which occurred on Saturday, has caused oil to spread to the shoreline, raising concerns about environmental and community impact. NIMASA confirmed that it…
π³π¬ Nigeria signs $1.2bn deal with Chinese firm to revamp gas plant for aluminium smelter
Nigeria has signed a $1.2bn (R21.67bn) contract with Chinese state-owned engineering firm CNCEC to revamp a gas processing plant crucial for the country’s aluminium production, its petroleum ministry said. The contract signed between CNCEC and BFI Group β the core investor in the Aluminium Smelter Company of Nigeria β is the first step towards reviving…
π·πΊπΉπΌ Russia Emerges as Leading Supplier in Taiwan’s Oil Products Market
Russia has taken the lead in Taiwanβs oil products market, with the island nation importing nearly 114,000 barrels of Russian naphtha per day last month. This import level accounted for 66% of Taiwanβs total crude imports for the month, according to data from Kpler. This surge to an all-time high firmly establishes Russia as Taiwanβs…
Turkeyβs oil exploration in Somalia raises regional concerns
Turkey has launched a significant oil and gas exploration mission off Somaliaβs coast, with the state-owned Turkish Petroleum Corporation (TPAO) leading the operation. The Turkish exploration vessel, now in Somali waters, is set to conduct seismic surveys over the coming months, marking a new phase in Turkeyβs strategy to expand its energy reach beyond the…
Why are gas prices in the EU several times higher than in the US?
EU gas prices are 4-5 times higher than those in the US, the report on the future of European competitiveness says. “Even though energy prices have fallen considerably from their peaks, EU companies still face electricity prices that are 2-3 times those in the US. Natural gas prices paid are 4-5 times higher. This price…
Oando has acquired a 100% stake in the Nigerian Agip Oil Company from Italian energy giant Eni for $783 million
The deal expands Oando’s asset base to include 40 oil and gas fields, with 24 currently in production, 1,490 km of pipelines, 12 production stations, three gas processing plants, the Brass River Oil Terminal, and the Kwale-Okpai power plants with a combined capacity of 960MW. This transaction has increased Oando’s total reserves by 98%, from…
Dangote refinery on track to begin gasoline production in September, industry monitor IIR Energy says
The $20 billion refinery, owned by Africa’s richest man, Aliko Dangote, has been undergoing test runs for gasoline production. While initial plans targeted July for gasoline deliveries, the project has experienced delays and the timeline has now shifted to mid-September. The massive 650,000-barrel-per-day refinery, located on the outskirts of Lagos, commenced operations in January after…
Breaking News: Patrice Talon Secures Key Concessions on Agadem Oil in Quiet Meeting with Chinese Delegation
On the morning of 15 May 2024, Benin’s President Patrice Talon discreetly welcomed a Chinese delegation, marking a significant development in the ongoing negotiations surrounding the Agadem oil field. The meeting, conducted away from the public eye, has yielded substantial concessions from Talon on the thorny issue of Agadem oil, a matter of critical importance…
Ghana’s petroleum exports surge, boosting regional trade and GDP
The country’s National Petroleum Authority (NPA) has recently signed agreements with Senegal and The Gambia to import petroleum products from Ghana, adding to an existing network that includes Mali, Niger, Burkina Faso, Cote d’Ivoire, and Togo. In 2023, Ghana re-exported and transited over 385 million liters of petroleum products to these countries. This success is…
Nigerian regulatory agency head accuses Dangote of threatening with monopoly over diesel import ban
Aliko Dangote, the wealthiest man in Africa, has requested that Nigeria suspend diesel and aviation fuel imports, Farouk Ahmed, the head of the Nigerian Midstream and Downstream Regulatory Agency told reporters. βThat is not good for the nation in terms of energy security and that is not good for markets in terms of monopoly,β he…
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