source Emergy Mix Report on Sep 10, 2019
Price offerings for Nigerian light sweet crude have eased in recent days, traders said, as refining margins for European gasoline finished the week sharply down.
European refiners sought to offload gasoline tailored to summer specifications and cracks ended the week down on Friday.
Asking prices for major grades have eased, traders said, with Bonny Light edging well below a premium of $3.00 compared to dated Brent.
Traders said the differentials were still too high to justify purchases, as North Sea crude provided affordable competition.
Traders noted a sharp uptick in exports of Nigerian oil to the U.S. West coast this year, by passing the U.S. shale boom, but warned that the favourable export window may have closed.
Nigeria LNG, owners of the six train Bonny LNG plant located in Nigeriaâ€™s Niger Delta Wednesday said it signed a letter of intent for the engineering, procurement and construction, or EPC, contract with SCD JV Consortium, to build a seventh train at the plant. The consortium is made up of Saipem of Italy, Japanâ€™s Chiyodaâ€¦
Nigeria will do what OPEC asks it to do, its minister of state for petroleum resources said on Tuesday. â€œIt is not every day,â€ Timipre Sylva said when asked about current overproduction. â€œWe are team players. We will do what OPEC asks.â€ Â Source: Hellenic Shipping News
Eland Oil & GasÂ has announced that through its joint-venture subsidiary,Â Elcrest Exploration and Production Nigeria, it has completed drilling phase of theÂ Gbetiokun-4 development well. The OES Teamwork rig has successfully completed drilling operations on the Gbetiokun-4 well;Â the first well to be drilled on the Gbetiokun field following approval of the Field Development Plan (â€˜FDPâ€™)Â on 3rd Julyâ€¦
The Federal Government has revealed plans to deliver Final Investment Decisions (FIDs) on at least four key projects within the nationâ€™s oil and gas industry by the end of last quarter this year. Minister of State for Petroleum Resources, Chief Timipreye Sylva, disclosed this while speaking at the ongoing 24th World Energy Congress (WEC) inâ€¦
EPSNL Insights in a collation of Nigeria's oil and Gas Industry news and developments pulled together from various sources to enhance our site's user awareness...
A cargo of Nigerian crude was offered from storage in South Africa, traders said on Wednesday, reflecting the Brent market's move into a structure...
Royal Dutch Shell says it has begun gas production from the second phase of the Gbaran-Ubie project in Nigeria's Niger Delta, Nasdaq reports. The project...
The Nigerian National Petroleum Corporation (NNPC) is working closely with the international oil companies (IOCs) to deploy a structured and holistic security apparatus to...