Valuechain - Nigeria's foremost Online Energy News Platform

The Nigerian National Petroleum Corporation (NNPC) on Saturday laid the foundation for construction of a 200-bed Emergency and Infectious Disease Hospital in Maiduguri. The NNPC Group Managing Director (GMD), Mr Mele Kyari, during the…
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The US Treasury Department on June 8 designated 121 tankers, container ships and other vessels owned or tied to Iranian shipper IRISL for additional secondary sanctions, but the action is expected to have limited impact on crude and oil…
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*OPEC production cuts matter far less than international companies deciding to scale back production and capex Uncertainty often surrounds how Nigeria plans to implement crude production cuts after it has agreed them with Opec. But,…
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*Forced oil production shutdowns and the extension of the OPEC+ cuts into July will balance COVID-19-hit global crude and condensate demand and create a monthly deficit starting from June and continuing until at least the end of 2021 …
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*UK group to shed 15% of workforce as Covid-19 accelerates broad strategic shift BP plans to cut 10,000 jobs as coronavirus hits the company’s finances and accelerates a strategy shift under the new chief executive to transform the UK…
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The Organisation of Petroleum Exporting Countries (OPEC) and its allies, OPEC+, has said it expects global oil demand to contract by around nine million barrels per day (b/d) for the whole of 2020. At a ministerial meeting of members…
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Oil prices climbed on Monday after OPEC+ agreed to extend a deal on record output cuts to the end of July and as China’s crude imports hit an all-time high in May. Brent crude was up 51 cents, or 1.2 per cent, at $42.81 per barrel, by…
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Accugas Ltd, the gas supplier to the Calabar Generation Company Limited, has issued the dreaded “notice of non-payment” to the Nigerian government over outstanding invoices to the tune of $15.8 million, TheCable can report. This is the…
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The Petroleum Product Price Regulations Agency (PPPRA) on Sunday gave clarifications on the recently published market-based pricing regime regulations, 2020, on Premium Motor Spirit (PMS), otherwise known as fuel, stating that it…
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French oil and gas firm, Total’s Egina will bear the largest burden of cuts as Nigeria races to achieve full compliance with the new OPEC+ cuts deal, SweetcrudeReports has learnt. The new field, Egina will shoulder around 40 percent…
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