Nigeria targets fuel sufficiency, exports by 2020
IF the Nigerian National Petroleum Corporation (NNPC) and the incoming government made good of their promises, Nigeria may be inching towards attaining self sufficiency and eventually become a net exporter of refined petroleum products by 2020.
Clean energy campaign under threat, as investments slump
The United Nations-led campaign for clean energy to save the ozone layer could be under threat, as indications emerged that the global clean energy investment slumped in the first quarter of 2015 to its lowest level in two years.
New technologies emerge to rescue oil industry
With the price of crude plumbing lows not seen since 2009, Royal Dutch Shell, Whiting Petroleum Corp and many others are turning to rocket fuel, Big Data, lasers, spectrometers and other new or revamped technologies to do more for less
Political transition: Traders optimistic on Nigeria’s oil exports
Although, reports showed that the West African crude trading diverged last week, as Angolan selling and differentials versus dated Brent fared better than Nigerian grades. Traders said steady buying from Chinese and European refiners who prefer Angolan grades is helping to support the differentials and clear out the May programme, whereas Nigerian cargoes are struggling to sell.
Shell’s capital investment hits $37.3 billion
Shell received $14.7 billion income and returned $11.8 billion to its shareholders through dividends in 2014. The company, which made this disclosure in its 2014 sustainability report released at the weekend, said that its total capital investment of $37.3 billion by the company in 2014 would help to build and sustain business for the future.
Govt unveils plans for electricity sector in 2015
The Presidential Task Force on Power (PTFP) has set a target of 5,000 Mega Watts (MW) of electricity for the second quarter of this year.
Oil prices: More concerns trail OPEC’s no-cut strategy
With the growing concerns about the Organisation of Petroleum Exporting Countries (OPEC) strategy of holding output steady amid plunging prices, the cartel may be divided ahead of its next meeting in June.
‘LED bulb cannot save 1,200MW of electricity’
The minister recently called for ledification of homes and streets. Do you think that is what the country needs right now? LED bulbs can be utilized in Nigeria in view of their advantage over the popular incandescent bulbs presently in use in Nigeria. Because LEDs are made from a solid material, they are much more durable than incandescent bulbs. Dropping or bashing an LED by accident is not as big a risk as it is with an incandescent light which will smash, rendering it inoperable and dangerous due to broken glass.
Crude oil production to rise by less than 0.1mbpd in 2015
OPEC non-crude liquids production, which averaged 6.4 million bpd in 2014, is expected to increase by less than 0.1 million bpd in both 2015 and 2016, led by increases in Qatar and Kuwait.