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Oil & Gas Summiteer

Nov. 4 in the oil cyclical industry

The price of oil is still heading up. Crude oil prices for Wednesday rose with the Brent trading at $79.92 while WTI traded at $70.93.

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China imperialistic advances and African fossil fuels

African leaders converged on Beijing, China from September 3-4, 2018, for the Forum on China-Africa Cooperation, FOCAC. This is the third time the summit was held since it was launched in Beijing in 2000. The Chinese President Xi Jinping promised US$60 billion in both aids and loans to the African continent. The zero interest loans are to fund infrastructure investments in Africa.

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The oil politics of Iranian sanctions

The heat from the United States is on and many wondered why Turkey is becoming the victim. Although it is not a significant producer or consumer of oil, it is naturally well located in the geopolitical equation.  Turkey in southeastern Europe and Southwest Asia is bordered by Greece, the Black Sea, Georgia, Armenia, Iran, Iraq, Syria, the Mediterranean Sea, the Aegean Sea, and Bulgaria. 

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No fuel

That N17 bn to track imported fuel: Witticism or joke

Between June and July 1925, Will Rogers (1879-1935) comedian, newspaper columnist, film and radio star, and political satirist revealed his encounter with the 30th President of the United States Calvin Coolidge. Asked how his funny stories were all thought up, Rogers a regular guest to the first family for light-hearted jokes replied: “I don’t make jokes, Mr. President; I watch the government and report the facts.”

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Lessons from Buhari’s visit to the Rotterdam refinery

President Muhammadu Buhari during the week visited the Netherlands. He may have been enthusiastic as he visited the home of global oil giants Royal Dutch Shell. His four-day visit to the Netherlands would have been one of the eventful periods in the last three years of his political reincarnation that he had sought cooperation and collaboration with friendly nations. Perhaps the Netherlands would have been his starting point based on petroleum historical ties of both nations.

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NNPC and FAAC facts of sharing

As individuals and communities we are encouraged to share what we have with others. The love and care for neighbour is divine in nature. The concept of sharing is also not to encourage indolence. The Nigerian constitution authorized funds of the federation to be in a central pool to be distributed; to each according to an agreed formula.  That spirit of cooperation and solidarity had existed among the sub national governments since the First Republic.

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The OPEC’s humdrum return to cyclicality

The Organization of the Petroleum Exporting Countries, OPEC at its biannual conference at its headquarters in Vienna, Austria, on Friday, June22, 2018 analyzed oil market developments since the November 2017 meeting and reviewed the oil market outlook for the remainder of 2018.  The inventory overhang had fallen close to the target to reduce inventory and increase prices, so it agreed to increase crude oil output to stabilize the markets. The stance appeared to be against the deal of November 30, 2016 of the OPEC and non-OPEC producers led by Russia to curb high global oil stocks by about 1.8 million barrels per day, bpd until the end of 2018.

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The Nigerian crude, media and agenda 2019

Politicking gets a kick start with the All Progressives Congress, APC organising a national convention this weekend to elect its national officers to midwife its campaigns. Other political parties would follow soonest. Scores of political parties and many politicos are jumping into the murky waters of 2019 electioneering that would be greatly influenced by critical national issues. The beauty of democracy is that it is determined by the majority. In essence, democracy is majority rule. In the Speech delivered by former United States Presisident, Jimmy Carter to the Indian Parliament on the 2nd of June 1978 he said that: “Democracy is like the experience of life itself—always changing, infinite in its variety, sometimes turbulent and all the more valuable for having been tested for adversity.” President Carter cannot be further from the truth as emergent aspirants and candidates mount the soapboxes in what would be expensive national campaigns. 

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fuel marketers

Living in denials of global fossil fuels subsidies

Last week the German Federal Ministry of Transport and Digital Infrastructure Andreas Scheuer, announced new subsidies for energy-efficient and low CO2 trucks. The country is promoting environmentally friendly vehicles and embracing natural gas as a solution to pollution. Under the scheme, the government will offer subsidies to buyers of gas; CNG-and LNG-fuelled heavy-duty trucks weighing more than 7 tons.

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G7 and oceans plastic pollution phenomenon

The 44th Summit of the Group of Seven, G7 industrial nations ends today. Canada hosted the two-day meeting in the beautiful region of Charlevoix, Quebec. The G7 countries are Canada, France, Germany, Italy, Japan, UK and the United States. The host country invited leaders and representatives from international organizations to discuss challenges of the global community.

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