Better funding will boost deep water drilling fluids engineering in Nigeria
Kenneth AforJanuary 20, 2020
ADEDAPO ADESINA is a University of Ibadan petroleum engineering graduate. He is a trained drilling fluids engineer with over 19 years professional experience in domestic oil and gas exploration and production operations. He currently works with one of the multinational oil and gas companies. In this interview with KENNETH AFOR, he provided insight on the […]
Florida buys Everglades land to prevent oil drilling
Businessam StaffJanuary 16, 2020
Florida has agreed to buy part of the Everglades wetlands to protect the sensitive ecosystem from oil drilling, Reuters reports, citing an announcement by the Florida governor. The deal, which will involve 20,000 acres, will be the largest acquisition of wetlands in Florida in ten years. The seller is Kanter Real Estate LLC, which had requested a permit […]
Buhari meets NNPC GMD, Mela Kyari again over oil prices
Businessam StaffJanuary 16, 2020
President Muhammadu Buhari, has again met with the Group Managing Director of the Nigeria National Petroleum Corporation, Mela Kyari, at the Presidential Villa, Abuja on Thursday. It has been reported that the president had on January 8, met behind closed doors with Kyari, who declined comment on the outcome of the meeting. The agenda of […]
Nigeria’s daily oil production plunges to 1.57m barrels
Businessam StaffJanuary 16, 2020
Nigeria’s crude oil production fell to a record low of 1.57 million barrels per day last month, the Organisation of Petroleum Exporting Countries has said. The producer group said in its monthly oil market report published on Wednesday that the country’s oil output stood at 1.66 million bpd in November, based on direct communication. The […]
Oil prices surge as US-China trade deal nears
Kenneth AforJanuary 14, 2020
Kenneth Afor with agency report
Targeting Iraqi oil facilities could disrupt Asia’s crude supplies
Businessam StaffJanuary 10, 2020
Investors are worried about possible attacks on oil facilities in Southern Iraq that could affect crude supplies into Asia, Henning Gloystein from Eurasia Group said. Iraq is the second-largest oil producer in OPEC. A disruption to its output level could make it hard for OPEC to replace the shortfall, Gloystein added. Investors are worried about […]
Global oil prices stabilize after Iran’s retaliation, analysts see further declines
Kenneth AforJanuary 10, 2020
Kenneth Afor
Global oil and gas discoveries hit four-year high
Businessam StaffJanuary 9, 2020
The world’s oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. Last year recorded 26 discoveries of more than 100 million boe, with offshore regions dominating the list of new oil and gas deposits. Guyana’s success […]
Oil’s bonkers week saw a ‘stunning’ collapse following the Trump-Iran turmoil
Businessam StaffJanuary 9, 2020
We are a week into the new year but oil traders have had a heck of a 2020 so far courtesy of the US-Iran turmoil. After soaring, reaching $70, earlier in the week, Brent crude oil was flat at about $65 per barrel on Thursday morning in London. The price of Brent crude futures contracts […]
US-Iran crisis: Buhari meets NNPC GMD as oil prices rise
Businessam StaffJanuary 8, 2020
President Muhammadu Buhari , on Wednesday, met behind closed doors with the Mele Kyari, group managing director of the Nigeria National Petroleum Corporation, at the Presidential Villa, Abuja. business a.m. reports that the agenda of the meeting was unknown as of the time of filing this report. NAN reports that the meeting came amidst the escalating […]