Orient Energy Review

24/03/2023

Be part of the conversation on empowering the girl child with STEM.

Visit https://nigeriaenergysummit.com/ to learn more.

22/03/2023

Workforce Day
The N.I.E.S annual Workforce Development Day and Job Fair will take place on Monday, 17th April 2023 at the Workshop Arena, ICC Abuja.

Who is it for?
• Graduates looking to start a career in the Energy Sector
• Established Professionals looking to make a career move into the sector
• Professionals looking to progress in the Sector

The Workshop will cover:
• Preparing for a Career in the Energy Sector
• Positioning for global relevance in the energy sector
• The Role of Education in Africa's Energy Transition
• Leadership Masterclass

Hosted by VANTAGE CONSULTING

To access the Education Programme - you will need a VISITOR PASS. Register now: https://lnkd.in/efS66WP

Africa’s Platform, Africa’s Narrative, Africa’s Energy.
Join the movement. Be part of the conversation

Event: Nigeria International Energy Summit
Theme: Global Perspectives for a Sustainable Energy Future
Dates: 16th – 20th April 2023
Location: Abuja -Nigeria, Africa

N.I.E.S 2023 Theme: Global perspectives for a sustainable energy future LEAD SPONSORS BECOME A SPONSOR VIEW ALL SPONSORS WELCOME TO NIES 2023 Welcome to the 6th edition of Nigeria International Energy summit (N.I.E.S 2023) Themed Global Perspectives for a Sustainable Energy Future.NIES 2023 is the m...

22/03/2023

Egypt’s petroleum and mineral resources minister, Tarek El Molla, has said that his country will set out its national low-carbon energy strategy in the coming weeks to adapt to technology advances and global geopolitical circumstances. “Time evolves and technology advances and with the challenges that happened over the last few years, especially after the Russia-Ukraine war… we have started to update our energy strategy”, he said, at a British-Egyptian Business Association event in his honour on Monday evening in Cairo....

Egypt’s petroleum and mineral resources minister, Tarek El Molla, has said that his country will set out its national low-carbon energy strategy in the coming

16/02/2023

16/02/2023

The Nigerian National Petroleum Company Limited has made an estimate that energy demand in Africa would hover between 30 to 35% in the next 20 years. Speaking at the seventh edition of Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos early this week, NNPC group managing director, Mr. Malam Mele Kyari, said the increase will support the projected increase in population and industrialization....

The Nigerian National Petroleum Company Limited has made an estimate that energy demand in Africa would hover between 30 to 35% in the next 20 years.

08/02/2023

The stock of supermajor, BP, edged higher on Tuesday, after the company announced record breaking profits and a disposition towards investment in oil and gas production. Business Insider reported yesterday that BP shares climbed as much as 7%, trading around $37.15 at press time. The company notched record profits for the fourth quarter of 2022, and is shifting away from renewables goals to further capitalize on highly profitable oil and gas investments....

The stock of supermajor, BP, edged higher on Tuesday, after the company announced record breaking profits and a disposition towards investment in oil and gas

30/01/2023

Nigeria has said that its petroleum distribution programme is being hitched by the activities of cross-border smugglers who divert petroleum products to sell at higher prices in neighboring countries. In an update issued last weekend, the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) smugglers were diverting PMS meant for the Nigerian market to neighboring countries where the prices are significantly higher than the regulated price....

Nigeria has said that its petroleum distribution programme is being hitched by the activities of cross-border smugglers who divert petroleum products to sell at higher prices in neighboring countries.In an update issued last weekend, the Nigerian Mid

30/01/2023

Italian prime minister, Giogia Meloni has signed an $8billion gas deal with Libya's state-run National Oil Corporation. The deal was sealed last Saturday when Meloni visited Tripoli. European governments have been scrambling to find alternatives to Russian gas since last year's invasion of Ukraine saw deliveries slashed to less than half their pre-war levels, sending prices soaring to record highs and triggering costly state subsidies to protect consumers....

Italian prime minister, Giogia Meloni has signed an $8billion gas deal with Libya's state-run National Oil Corporation. The deal was sealed last Saturday when Meloni visited Tripoli.European governments have been scrambling to find alternatives to Ru

30/01/2023

Last weekend, European Union officials failed to agree about the price cap of Russian crude oil products that go into effect on February 5, being the next review time. The group is also set to discuss the current crude oil price caps, Reuters said in a report yesterday. The group was originally set to review the crude oil price cap level every two months, which meant it was supposed to be reviewed in January, but some nations, part of the group—including the United States—wanted to wait until March to review the cap, which is currently set at $60 per barrel....

Last weekend, European Union [EU] officials failed to agree about the price cap of Russian crude oil products that go into effect on February 5, being the next review time.The group is also set to discuss the current crude oil price caps, Reuters sai

30/01/2023

The United States has pledged to support South Africa’s transition to cleaner energy program, and to help mobilize finance from the private sector to assist the country which is heavily dependent on coal.U.S. treasury secretary, Janet Yellen, made the pledge last weekend during a visit to South Africa. Coal is by far the major energy source for South Africa, accounting for around 80% of the country’s energy mix....

The United States has pledged to support South Africa’s transition to cleaner energy program, and to help mobilize finance from the private sector to assist the country which is heavily dependent on coal.U.S. treasury secretary, Janet Yellen, made th

12/01/2023

The World Bank has said that the growth of the Nigerian economy weakened to 3.1% in 2022 and will further decelerate to 2.9% this year owed to low energy costs, high borrowing costs, slow growth in oil production and subdued oil-sector activity. In its latest Global Economic Prospects report, released last Tuesday, the Washington based global bank noted that a number of factors, such as low oil output, insecurity, petrol subsidies, forex scarcity, among others, hamper growth in the country....

The World Bank has said that the growth of the Nigerian economy weakened to 3.1% in 2022 and will further decelerate to 2.9% this year owed to low energy costs, high borrowing costs, slow growth in oil production and subdued oil-sector activity.In it

12/01/2023

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been commended over its decision to identify the real owners of all lease and licence holders operators in Nigeria’s oil and gas sector. In a statement issued in Abuja yesterday, a rights group, Human and Environmental Development Agenda (HEDA Resource Centre), described the regulatory commission’s action as ultimate, noting that, the decision will further promote transparency and accountability in the energy sector in Nigeria....

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has been commended over its decision to identify the real owners of all lease and licence holders operators in Nigeria’s oil and gas sector.In a statement issued in Abuja yesterday, a righ

02/01/2023

We are a fast paced business management solutions firm with an array of value offerings to Corporate organizations. We work in all major sectors of the economy engaging highly trained and sector-experienced Consultants. Willers Solutions Limited is an indigenous firm with cutting edge value proposition geared towards value maximization. Qualification: BA/BSc/HND Experience: 7 - 10 years RESPONSIBILITIES Designing, maintaining, implementing, or improving electrical instruments, facilities, components, equipment products, or systems for industrial, commercial, or domestic purposes....

We are a fast paced business management solutions firm with an array of value offerings to Corporate organizations. We work in all major sectors of the economy engaging highly trained and sector-experienced Consultants. Willers Solutions Limited is a

31/12/2022

Welcome to 2023!

From all of us at Orient Energy Review, we wish you a Prosperous New Year!

24/12/2022

Dear valued subscribers,

As we celebrate Christmas, we wanted to take a moment to thank you for your continued support and to wish you a very Merry Christmas and a Happy New Year.

We hope that this season brings you joy, happiness, and time spent with loved ones. May the coming year bring you prosperity and success in all your endeavors.

We are grateful to have you as part of our community and we look forward to continuing to serve you in the new year.

Warm wishes,

The Orient Energy Review team

02/12/2022

The African Development Bank is boosting the promotion of resilient, green and sustainable growth, with the launch of the African Green Bank Initiative The initiative, which was presented at the just-concluded UN Climate Change Conference (COP27) in Egypt, will support the implementation of African countries’ Nationally Determined Contributions (NDCs). Part of the African Financial Alliance on Climate Change (AFAC), the Green Bank Initiative will be supported by the African Green Finance Facility Fund (AG3F)....

The African Development Bank is boosting the promotion of resilient, green and sustainable growth, with the launch of the African Green Bank InitiativeThe initiative, which was presented at the just-concluded UN Climate Change Conference (COP27) in E

01/12/2022

Later this December, Chevron will ship the first oil cargo from Venezuela to the United States, after the U.S. Administration issued a six-month license allowing the supermajor to extract and export oil from the South American country. Bloomberg reported yesterday that the U.S. Treasury had issued a license authorizing Chevron to resume limited natural resource extraction operations in Venezuela while preventing Venezuela’s state oil firm PDVSA from receiving profits from the oil sales by Chevron....

Later this December, Chevron will ship the first oil cargo from Venezuela to the United States, after the U.S. Administration issued a six-month license allowing the supermajor to extract and export oil from the South American country.Bloomberg repor

25/11/2022

…plans to invest $160bn in clean, renewable energy in 3 decades The UAE plans to invest $160 billion in clean and renewable energy sources over the next three decades. In this regard, the UAE has approved a new federal law regulating the linkage of distributed renewable energy production units to the electrical grid. The new law aims to enable increased production of electricity from renewable sources and achieve the UAE’s objectives of diversifying renewable energy sources and optimal utilisation of natural resources, the ministry of energy and infrastructure said on Monday....

23/11/2022

JGC Corporation, in partnership with Technip Energies, has secured a contract with UTM FLNG Limited for the front-end engineering and design (FEED) of the floating liquified natural gas (FLNG) facility project in Nigeria. Last year, UTM Offshore, the parent company of UTM FLNG, awarded the contract for the conceptual design service to JGC Corporation. Now, the consortium of JGC and Technip Energies has been awarded the FEED contract for the FLNG plant producing 1.2....

22/11/2022

The Nigerian Bureau of Statistics has said that the average price of 5kg cooking gas increased from N4,474.48 in September to N4,483.75 in October, representing a 0.21% rise. In its ‘Cooking Gas Price Watch’ for October 2022 released yesterday in Abuja, the NBS said on a year-on-year basis, the increase was 70.62% from N2,627.94 in October 2021 to N4,483.75 in October 2022....

The Nigerian Bureau of Statistics [NBS] has said that the average price of 5kg cooking gas increased from N4,474.48 in September to N4,483.75 in October, representing a 0.21% rise.In its ‘Cooking Gas Price Watch’ for October 2022 released yesterday i

19/10/2022

Shortly after Russian troops entered Ukraine in February, Exxon said it was going to pull out from Russia and make no more investments there.

Russia has removed Exxon as a shareholder from the Sakhalin-1 oil and gas project and transferred its stake to a Russian business entity.Exxon said this amounted to expropriation and that it had pulled out from Russia as a whole, the Wall Street Jour

19/10/2022

An oil pipeline surveillance team contracted by the federal government to check crude oil theft, Tantita Security Services Nigeria Limited, has reportedly discovered more illegal crude oil pipelines attached to Trans Forcados Export Trunkline. The latest discoveries by the firm led by Mr. Government Ekpemupolo popularly known as Tompolo, sources said, came days after its operatives uncovered an illegal four-kilometre pipeline connected from the Trans Escravos line to the sea....

An oil pipeline surveillance team contracted by the federal government to check crude oil theft, Tantita Security Services Nigeria Limited, has reportedly discovered more illegal crude oil pipelines attached to Trans Forcados Export Trunkline.The lat

18/10/2022

Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine, following a Friday phone call between Crown Prince Mohammed bin Salman and President Volodymyr Zelensky. SPA stated of the call, "The crown prince expressed the kingdom's readiness to continue efforts of mediation and support everything that contributes to de-escalation," in reference to the over seven-month long invasion of Ukraine....

Saudi state media announced Saturday that the kingdom will provide $400 million in humanitarian aid to Ukraine, following a Friday phone call between Crown Prince Mohammed bin Salman and President Volodymyr Zelensky.SPA stated of the call, "The crown

29/08/2022

Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while China and India are looking to build more reactors to avoid supply shortages and curb greenhouse gas emissions. Even developing nations across South-East Asia are exploring atomic technology. The embracing of nuclear energy comes after the prices of natural gas and coal, the two fossil fuels used to generate most of Asia’s power, shot to records this year as Russia’s invasion of Ukraine upended markets....

Asia is giving the once-shunned nuclear power industry a second lease on life, thanks to the global energy crisis. Governments in Japan and South Korea are removing anti-nuclear policies, while China and India are looking to build more reactors to av

26/08/2022

Demand for crude in non members of the Organisation for Economic Co-operation (OECD) countries that account for 54% of the total demand globally remains strongOil prices are likely to rebound to $125 in the coming months due to tight market supply, declining spare capacity and low oil inventories, according to Swiss bank UBS. In a research note on Thursday, UBS strategists said the latest remarks by Saudi Arabia’s Energy Minister Prince Abdulaziz bin Salman about a disconnect between oil futures prices from market fundamentals and that OPEC+ has the means to deal with market challenges including cutting production at any time, suggests "there is a desire to defend oil prices to stay above the level of $90 per barrel."...

Demand for crude in non members of the Organisation for Economic Co-operation (OECD) countries that account for 54% of the total demand globally remains strongOil prices are likely to rebound to $125 in the coming months due to tight market supply, d

25/08/2022

The United States and its allies are ramping up efforts to achieve the price cap proposal on Russian oil. To counter this, Russia is said to be racing to secure long-term deals with Asian buyers to sell discounted oil. According to a report, Russia has recently contacted several Asian buyers to discuss selling its oil at hefty discounts under long-term contracts, while the U.S....

The United States and its allies are ramping up efforts to achieve the price cap proposal on Russian oil. To counter this, Russia is said to be racing to secure long-term deals with Asian buyers to sell discounted oil.According to a report, Russia ha

25/08/2022

India’s major shift in its oil purchasing pattern last month from Russia to Saudi Arabia has been interpreted by many global oil market participants as an early sign that the role Washington had envisioned for the country at the time of the 2020 ‘relationship normalisation’ deals might be in play again. This buying pattern, though, is unlikely to be sustained and, even if it is, Saudi Arabia and Russia are still working too closely together in the oil market to allow the U.S....

India’s major shift in its oil purchasing pattern last month from Russia to Saudi Arabia has been interpreted by many global oil market participants as an early sign that the role Washington had envisioned for the country at the time of the 2020 ‘rel

24/08/2022

If the chance to revive the deal falls apart, tougher sanctions could cut another 500,000 barrels per day or so from Iranian oil exports. Iranians often compare their country’s shape to a cat. The nuclear deal with the US, EU and other leading countries, declared dead on several occasions, has used up eight of its nine lives. If it does not survive the latest negotiations, it means bad luck to all participants....

If the chance to revive the deal falls apart, tougher sanctions could cut another 500,000 barrels per day or so from Iranian oil exports. Iranians often compare their country’s shape to a cat.The nuclear deal with the US, EU and other leading countri