Shipping

Shale boom sets U.S up for global oil dominance

The U.S. will be a dominant force in global oil and gas markets for many years to come as the shale boom becomes the biggest supply surge in history, the International Energy Agency predicted.
 
By 2025, the growth in American oil production will equal that achieved by Saudi Arabia at the height of its expansion, and increases in natural gas will surpass those of the former Soviet Union, the agency said in its annual World Energy Outlook. The boom will turn the U.S., still among the biggest oil importers, into a net exporter of fossil fuels.
 

An Efficient Seaport: A channel towards global industrialization

The Managing Director of Nigerian Ports Authority (NPA), Hadiza Bala Usman has informed all relevant stakeholders in the maritime sub-sector and the general public of her team's readiness to invest resources in capacity building and an efficient port system.
 
According to her, Developing Nations of the world have come to the realization that industrialization is a channel through which a nation’s economic prosperity is realised. To this end, all hands must be on deck towards finding a lasting solution to the perennial problems facing our nation.
 

Steady exports lift Bonny Light crude to 3-month high

Nigeria's Bonny Light crude has seen its price rise to its highest levels since February, as the grade began to trade in a more regular fashion in the spot market following several months of disruption due to loading delays and forces majeures. 
 
S&P Global Platts assessed Bonny Light at a premium of 60 cents/b versus the West Africa Dated strip. The grade last hit this value mid-August and was last higher February 21, when it was assessed at 65 cents/b. 
 

OVH Energy commissions N54.4b Lagos Midstream Jetty

Oando Plc has reiterated the importance of indigenous participation in Nigeria’s oil and gas industry and has taken private sector infrastructure development to another level with the commissioning of its N54.4 billion Lagos Midstream Jetty (LMJ) at the Apapa Harbour in Lagos.

Conceived by ASPM Limited, a subsidiary of OVH Energy Limited (an Oando Plc Licencee), the LMJ is West Africa’s first privately owned mid-stream jetty, and will allow up to 45,000 Dead Weight (DWT) vessels to berth and discharge products while easing out the congestion around the Apapa corridor.

The 11th OTL AFRICA DOWNSTREAM WEEK- COMMUNIQUE

Oil Trading and Logistics Africa (Downstream) is a Pan-African initiative dedicated to promotion of business, policy and stakeholder relationships in downstream petroleum markets across the continent.

It achieves its goals through strategic government and business liaison, research and advocacy. Its flagship platform, the annual OTL Africa Downstream Week is the continent’s leading business forum for market insights, emerging opportunities, products’ showcase and recognition of excellence in the African downstream petroleum value-chain.

NIMASA to end foreign control of crude lifting

The Nigerian Maritime Administration and Safety Agency (NIMASA) is set to end foreign domination of crude oil lifting. The agency plans to introduce new measures that will pomote indigenous participation in the highly lucrative business.
 
Its Director-General, Dr Dakuku Peterside, it was gathered, has concluded arrangement to introduce new policies that will enthrone the participation of many Nigerians.
 

Pages