Valuechain - Nigeria's foremost Online Energy News Platform

Oil prices edged up on Monday as a weaker dollar offset fresh concerns about the hit to global fuel demand from renewed lockdowns to curb the spike in COVID-19 infections. Brent crude futures for March rose 32 cents, or 0.6%, to $55.73…
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The production policies of the non-member countries of the Organisation of Petroleum Exporting Countries (OPEC+) and pandemic’s path will continue to drive global oil prices in the year and result in global oil demand declining marginally…
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The Minister of State for Petroleum Resources, Chief Timipre Sylva has announced new dates for the 2021 Nigerian International Petroleum Summit (NIPS). The official Oil and Gas meeting of the Federal Republic of Nigeria which will now take…
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Mr. Mele Kyari, Group Managing Director, Nigerian National Petroleum Corporation, said the Federal Government has set up plans to expand access to Liquefied Petroleum Gas (LPG), also known as cooking gas, for rural dwellers. Kyari spoke…
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Falling oil prices and weak demand in 2020 have severely affected revenues from the marketing of Algerian oil. This situation will increase the pressure on the country’s foreign exchange reserves. In a note published on Sunday,…
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Buyers have canceled several Libyan Amna, Abu Attifel and Zueitina crude oil purchases after high mercury levels were detected in the cargoes, sources close to the matter said Jan. 21. The sources said that the issue had so far only…
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The Federal Government has established “a technical group to audit Oil Tank Farm Safety and Management” in Nigeria with a view to mitigating disasters arising from explosions especially in the Southwest and South South. This was as the…
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Libya is seeking funding from foreign oil companies to fix its ailing infrastructure after years of war and neglect, the nation’s top energy official said. The state-owned National Oil Corp. was forced to shut down a leaking pipeline on…
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The stability of global markets is one of the key factors for players in the oil sector. OPEC, which has made it its policy, therefore imposes reduction quotas on the production of its members, including Angola. Angola, Africa’s second…
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Oil and gas supply chain companies have seen their profits squeezed since the E&P cost cuts of the previous downturn – and just as the industry could finally hope for better days, the Covid-19 pandemic caused the value of 2020’s…
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