Carbon emision posses new threat— Report

The Federal Government has been urged to as a matter of urgency join world leaders and address current climate change caused by emissions and other catalysts.

The Director, Carbon Limits Nigeria, CLN, a project and technical consultancy service company, Paul Parks, stated this against the backdrop of the recent report on climate change released by CLN.

He explained that policymakers in the country need to understand how climate change acts as a threat multiplier and address it appropriately.

IEA: Nigeria’s higher crude oil output balanced OPEC production in January

The International Energy Agency has said improved crude oil output in Nigeria made up for the losses recorded by some OPEC member countries to steady production month-on-month at 32.16 mb/d in January.
In disclosing this in its Oil Market Report for February, IEA also noted that  compliance with OPEC supply cuts reached an unprecedented  high of 137 per cent in the review month.

Fuel prices crash as Ghanaian Parliament passes Special Petroleum Tax Bill

Parliament has passed the Special Petroleum Tax (Amendment) Bill, 2018 to reduce the special petroleum tax from 15 to 13 per cent.
With the passage of the bill, the ex-pump price of petrol will go down by 3.39 per cent, while that of diesel will reduce by 4.14 per cent.
The bill, which was passed under a certificate of urgency, amended the Special Petroleum Tax Act, 2014 (Act 879) and provided for a change from an ad valorem rate to a specific tax rate on selected petroleum products.

Refiners tease plans for 2020 0.5% sulfur bunker fuels

As the shipping and bunker industries await the new 0.5% global marine fuel sulfur limit in less than two years, refiners have this week started to reveal some of their plans for the fuels they want shipowners to buy in 2020.
BP announced two new fuels to be available in Northwest Europe in a private meeting with shipowners during IP week, while ExxonMobil said Thursday that it would be likely to demonstrate its products later this year or early in 2019.

San Leon's Nigeria oil production hit by downtime, pipeline losses

Oil and gas firm, San Leon, headed by Irish CEO Oisin Fanning, has said production levels at its onshore Nigeria concession OML18 were hit last year by a scarcity of investment capital, downtime and pipeline losses.
That has resulted in "materially lower" production and sales compared to those assumed in the company's admission document, Mr Fanning noted.

OPEC seeks more upstream investment to meet future demand

OPEC wants to ensure enough upstream investment to adequately supply the market in the decades to come, providing the impetus behind efforts to formalize its cooperation with Russia and other allies beyond their production cut agreement, UAE energy minister Suhail al-Mazrouei said Tuesday.

Libya, Nigeria at 'High Risk' of oil sector disruption

Libya and Nigeria are at 'high risk' of oil sector disruption, especially towards the end of 2018, according to oil and gas analysts at BMI Research.
Libya and Nigeria are at ‘high risk’ of oil sector disruption, especially towards the end of 2018, according to oil and gas analysts at BMI Research.

CVFF May Fund Proposed Regional Maritime Bank

Indications have emerged that the challenges currently hindering accelerated development of the maritime industry in West and Central Africa may soon be confined to history if coordinated efforts of its Maritime Administrations to establish a Regional Maritime Bank is actualized.

Nigerian court sets hearing date for Malabu Oilfield case

A Nigerian court has set a hearing over a disputed 2011 oilfield deal for June 18, the country’s financial crimes watchdog said Feb. 15, part of a string of international corruption probes into the purchase.
The case relates to a purchase of the offshore OPL 245 oil field in Nigeria by oil majors Royal Dutch Shell and Eni in 2011. At the core of the case is a $1.3 billion payment from Shell and Eni to secure the block from Malabu Oil and Gas, allegedly controlled by former Nigerian oil minister Dan Etete.

OVH Energy appoints Huub Stokman as CEO

OVH Energy, leading downstream company, has announced the appointment of Huub Stokman as the new Chief Executive Officer (CEO).
Prior to his appointment, Huub Stokman was the Head of Puma Energy International in Angola, responsible for the overall business, which included managing retail forecourt, terminal/logistics operations, as well as B2B business for fuels, lubricants, aviation fuels and bitumen.


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