International

Gulf of Guinea security dominates G7 meeting

The Director General of the Nigerian Maritime Administration and Safety Agency (NIMASA) Dr. Dakuku Peterside has stated that capacity building initiatives and sectorial reforms are critical elements that can address maritime security issues in the Gulf of Guinea. Dr. Dakuku made this position known in a paper presented at a G7 high level meeting on maritime security in Rome, Italy. The NIMASA DG noted that despite the security challenges being faced in the region, lots of concerted efforts with Stakeholders and other government Agencies have been put in place to check the menace.

Nigeria rallies to secure re-election into IMO Council

In a bid to ensure that Nigeria wins the re-election into one of the highest decision making body of the International Maritime Organization (IMO), an arm of the United Nation (UN) responsible for global maritime regulation, the Minister of Transportation Rt. Hon. Rotimi Amaechi and the Minister of Foreign Affairs, Mr. Geofrey Onyema has called on all Heads of Foreign Missions to support the country’s quest as it seeks election into the Category C of the IMO Council.
 

Trafigura wins IOC tender

More Nigerian export plans for January surfaced, while trader Trafigura won the right to sell Nigerian oil to Indian Oil Corp.
 
More January loading plans emerged, with just over a handful outstanding including Abo, Brass, EA, Ebok, Okono, Okwori, Okwuibome, Oyo and Pennington.
 
January exports already included 54 cargoes for a total of 1.574 million barrels per day (bpd). While Forcados exports were expected to rise, Bonny Light, Agbami, Bonga, Qua Iboe and Yoho all had smaller export plans compared with December.
 

Chevron, NNPC seal $1.7b oil production deal

Nigeria National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day.
 
The agreement, which was signed in London at the weekend, is also expected to achieve an incremental peak production of about 283mmscfd of gas.
 

Crude-for-product arrangement on course- NNPC

The Nigerian National Petroleum Corporation (NNPC) has said it will go ahead with its crude-for-product plans.
 
Its Group Public Affairs Manager, Ndu Ugbamadu, in an interview at the weekend, said Federal Government has never contemplated dropping the idea or substituting it with another as of efforts to make fuel available in the country.
 
He said the delay in fast-tracking the growth of the initiative does not mean that the government has abandoned the idea.
 

Nigeria's Akpo to load three 1-million barrel cargoes in Jan

Nigeria's naphtha-rich Akpo crude is set to load three cargoes of 1 million barrels each in January, the same volume that will load in December, according to a copy of the program seen by S&P Global Platts on Friday.
 
Total loadings of the grade will total 3 million barrels. Average daily loadings are set to remain the same as December at 96,774 b/d. 
 

IEA’S WORLD ENERGY OUTLOOK 2017

The resurgence in oil and gas production from the United States, deep declines in the cost of renewables and growing electrification are changing the face of the global energy system and upending traditional ways of meeting energy demand, according to the World Energy Outlook 2017. A cleaner and more diversified energy mix in China is another major driver of this transformation.
 

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