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Monthly Archives: June 2018

13% derivation fetches oil producing states N602bn in 16 months

Exclusive:13% derivation fetches Nigerian oil producing states N602 bn in 16 months

Despite claims of neglect, oil producing states in the country received N602.37 billion as their 13 percent derivation fund from the Federal Government between...
Ethiopia starts pumping oil for the first time ever

Ethiopia starts pumping oil for the first time ever

Ethiopia began on Thursday its first-ever crude oil production under a test production scheme that will see initial production of 450 barrels of oil...
Electric vehicle battery growth supports cobalt, lithium demand

Electric vehicle battery growth supports cobalt, lithium demand

Wider hybrid and electric vehicle (EV) adoption should support demand for cobalt and lithium, Fitch Ratings and CRU, a privately owned business intelligence company...
Barkindo assures global oil community of sustainable market stability

OPEC’s Barkindo says excess oil in OECD economies dropped by 268 mb in 2017

SANUSI BARKINDO, SECRETARY general of the Organisation of Petroleum Exporting Countries (OPEC) has stated that there was a 268 million barrels drop in excess...
“LPG industry, ripe for heavy investments”

“LPG industry, ripe for heavy investments”

BASSEY ESSIEN, Executive Secretary, Nigerian Association of Liquefied Petroleum Gas (NALPGAM), speaks on the challenges of the LPG subsector of the economy, the potential...
Report forecasts renewable to account for 30% Brazil’s power in 2030

Report forecasts renewables to account for 30% Brazil’s power in 2030

By the end of 2030, solar and wind together with biopower are forecast to account for almost 30 percent of the country's cumulative installed...
Despite tariffs, report says US solar power climbs 13% in Q1, 2018

Despite tariffs, report says US solar power climbs 13% in Q1, 2018

In spite of the new tariffs on imported solar panels, the U.S. solar power market recorded an annual growth of 13 percent as it...
OPEC's World Oil Outlook to be launched in Algiers

Global trade barriers, continued growing debt levels to impact negatively on H2, 2018, OPEC...

Ayobami Adedinni The re-emergence of global trade barriers, continued growing debt levels and potentially rising volatility in asset markets amid ongoing monetary tightening, are...
Qatar says LNG market not oversupplied as it prepares to add 23mmt to global market

Qatar says LNG market not oversupplied as it prepares to add 23mmt to global...

Qatar is planning to add 23 million mt/year of export to the global LNG market, just as it disagrees the market is not currently...
Nigeria’s vice president Osinbajo wants oil revenues used to diversify economy

Nigeria’s vice president Osinbajo wants oil revenues used to diversify economy

Nigeria must use its oil and gas revenues to pursue its economic diversification agenda, its vice president, Yemi Osinbajo, said on Monday, in Abuja,...

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