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Nigeria National Petroleum Corporation saves $3bn from arbitrations

Ike Amos Abuja — The Nigerian National Petroleum Corporation, NNPC, Tuesday, said it has saved the country over $3 billion from arbitrations. In a statement in Abuja, Group Managing Director of the NNPC, Mallam Mele Kyari, commended the Management of the corporation’s Legal Division for the save, saying its due diligence accounted for the feat. […] The post Nigeria National Petroleum Corporation http://dlvr.it/RHhWlt KDonaldResources

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West Africa crude offers continue rise on margins, freight

Lagos — Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November 1, 2019. Lighter Nigerian crude cargoes for November and December were heard to have crept up around 20 cents a barrel, with Bonny Light and Qua Iboe over a premium of […] The post West Africa crude offers continue rise on margins, freight appeared first on http://dlvr.it/RHgyjZ KDonaldResources

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Med crude-Urals diffs steady during Russian holiday

London — Urals crude oil differentials were steady on Monday amid a Russian public holiday. PLATTS WINDOW * There were no bids or offers in the Platts window for Urals, Azeri, CPC or Saharan, traders said. Urals differentials to dated Brent have firmed over the past week on strong demand and tight supply. RELATED NEWS […] The post Med crude-Urals diffs steady during Russian holiday appeared first http://dlvr.it/RHcZf6 KDonaldResources

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Oil prices stabilise, but set for big weekly loss amid trade gloom, rising output

Tokyo — Oil prices steadied on Friday after a rough week, squeezed about 4% lower by a combination of rising global supply and uncertain future demand. U.S. crude surfaced for air for the first time in four days, gaining 15 cents, or 0.3%, to $54.33 a barrel by 0103 GMT. The contract was heading for […] The post Oil prices stabilise, but set for big weekly loss amid trade gloom, rising output http://dlvr.it/RHR2pd KDonaldResources

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Oil prices dip as U.S. crude stocks and weak Chinese data weigh

London — Oil prices came under pressure on Thursday from rising U.S. crude oil stocks and weak factory activity in China, with few bullish factors on the horizon. Brent crude futures were down 13 cents at $60.48 a barrel by 1338 GMT, erasing earlier gains. They had dropped by 1.6% on Wednesday and the contract […] The post Oil prices dip as U.S. crude stocks and weak Chinese data weigh appeared http://dlvr.it/RHLm1S KDonaldResources

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Ijaw youths reject NDDC management, demand Akpabio’s sack over interference

Mkpoikana Udoma Port Harcourt — The Ijaw Youth Council, IYC worldwide has called for the immediate sack of the Minister of Niger Delta Affairs, Sen, Godswill Akpabio, over what they described as undue interference in the affairs of the Niger Delta Development Commission,NDDC. This is in reaction to the newly inaugurated three-man NDDC interim management […] The post Ijaw youths reject NDDC http://dlvr.it/RHKXBs KDonaldResources

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Turkey’s Botas seeks 70 LNG cargoes for 2020-2023 delivery – sources

London — Turkish state energy company Botas is looking to buy 70 cargoes of liquefied natural gas (LNG) for delivery over 2020-2023, two trade sources said on Tuesday. The tender was issued on Friday, one source said, two days after the United States lifted sanctions against Turkish ministries, including the energy ministry, and senior government […] The post Turkey’s Botas seeks 70 LNG cargoes http://dlvr.it/RHBzjj KDonaldResources

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Small U.S. oil and gas companies get cold shoulder from large banks

New York — The largest banking lenders to the U.S. oil and gas sector are becoming more cautious, marking down their expectations for oil and gas prices that underpin loans in a move expected to put further financial stress on struggling producers, industry and banking sources said. Major banks including JPMorgan Chase, Wells Fargo , […] The post Small U.S. oil and gas companies get cold shoulder http://dlvr.it/RHBL16 KDonaldResources

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NDDC to distribute waste bins, trucks to states

Mkpoikana Udoma Port Harcourt — The Niger Delta Development Commission, NDDC, says it will distribute 32 waste disposal trucks and 64 waste bins to state ministries of environment in the region, to help in the campaign for a clean and healthy environment. Speaking after inspecting NDDC warehouses in Port Harcourt, the Acting Managing Director, Dr. […] The post NDDC to distribute waste bins, http://dlvr.it/RH4by9 KDonaldResources

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Operation Crocodile Smile IV will tackle oil theft, piracy – Army

Mkpoikana Udoma Port Harcourt — The Nigerian Army, Six Division Port Harcourt, has assured that Operation Crocodile Smile IV would tackle crude oil theft, illegal oil bunkering, sea piracy, militancy and other crimes peculiar to the Niger Delta region. The military exercise was flagged off with free medical programme in Rumuokoro community and Bolo community in […] The post Operation Crocodile http://dlvr.it/RH1Bpk KDonaldResources

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Oil prices ease but are on track for large weekly gain

London — Oil prices eased on Friday but were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed broader economic concerns. Brent crude was down 29 cents at $61.38 by 1359 GMT but the benchmark was […] The post Oil prices ease but are on track for large weekly gain appeared first on http://dlvr.it/RGyczG KDonaldResources

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National budget threatened, Nigeria’s December crude export continues to fall

OpeOluwani Akintayo Lagos — Nigeria has a slimmer chance of meeting up with its N8.9 trillion 2019 national budget, as preliminary crude oil loading programs showed that some of its grades are not on demand for December. Loading Schedules showed that there would be a decline for the country’s oil in the last month of […] The post National budget threatened, Nigeria’s December crude export http://dlvr.it/RGy3tf KDonaldResources

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Oil theft: NSCDC denies auctioning seized petrol tankers

Mkpoikana Udoma Port Harcourt — The Nigerian Security and Civil Defence Corps, NSCDC, has denied placing advertisement for the auctioning of petrol tankers and other vehicles seized from suspected oil thieves and illegal bunkerers. Public Relations Officer of NSCDC, Rivers State Command, Oguntuase Michael, warned that the advertisements are fraudulent and untrue, thus should be […] The post Oil http://dlvr.it/RGwrxp KDonaldResources

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NNPC signs memorandum to work with Russia’s Lukoil

Lagos — The Nigerian National Petroleum Corporation, NNPC, has signed a memorandum of understanding with Russian oil company Lukoil for potential cooperation in oil production, trading and refining, Lukoil said on Thursday. Mele Kyari, head of the Nigeria’s state oil firm, signed the memorandum during a visit to the Russian city of Sochi during a Russia-Africa Summit, […] The post NNPC signs http://dlvr.it/RGtnGN KDonaldResources

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China’s CNOOC says COSCO sanctions have impact but oil and gas output unaffected

Beijing — CNOOC, China’s largest offshore oil and gas producer, on Thursday said it would be affected by U.S. sanctions on its COSCO shipping firm but there would be no impact on its oil and gas production. “(The sanctions) will have some impact on our business when shipping oil and gas from overseas oilfields back […] The post China’s CNOOC says COSCO sanctions have impact but oil and gas output http://dlvr.it/RGtB1F KDonaldResources

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China Sept crude runs hit record high as new refineries ramp up

Beijing — China’s crude oil throughput rose 9.4% in September from a year earlier to its highest level on record, official data showed, led by increases from new refineries and as some independent plants returned from maintenance. Refinery runs hit 56.49 million tonnes, or about 13.75 million barrels per day (bpd), according to figures from […] The post China Sept crude runs hit record high as http://dlvr.it/RGgvjF KDonaldResources

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OML 25: Sylva, Kyari get chieftaincy titles in Rivers State

Mkpoikana Udoma Port Harcourt — As OML25 oil and gas facilities get reopened, the Minister of State for Petroleum Resources, Chief Timipre Sylva, and the Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mr Melee Kyari, have been awarded with Chieftaincy titles in Rivers State. The award is in appreciation to their roles in […] The post OML 25: Sylva, Kyari get http://dlvr.it/RGgX0k KDonaldResources