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“Fundamentally, there’s little to suggest the market is due for an upside correction anytime soon. […]
Oil price benchmarks traded lower in June and early July as both fundamental and technical indicators […]
Probable Scenario: 1 The world has developed very dynamically, especially in China and India. Global energy […]
Assessing talent risks With the spate of payroll reductions and project postponements that have come […]
Oil benchmarks remained volatile in February and early March as competing market fundamentals continued to […]
There are ever increasing concerns for petroleum exploration and development prospects across Sub-Saharan Africa arising from the dramatic falls in oil and gas prices since mid-June 2014. The primary supply-side reasons are the US shale oil and gas revolution, strong production from conflict regions such as Iraq and Libya, and OPECs November 2014 statement that they would not cut production.
Major oil and gas discoveries have opened new exploration plays in East Africa and offshore West Africa. Equally, ever-expanding energy requirements from domestic markets support the commercialization of these discoveries in Africa. Against this background, African governments want to ensure greater national participation in their upstream petroleum sector.
The liquefied natural gas (LNG) industry is venturing into new territory as it approaches an unprecedented wave of expansion. New projects in Western Canada, the US Gulf Coast and East Africa pose particular technical challenges, but more important are the non-technical challenges.
In rural communities biogas is offering an increasing degree of help, while the Government looks to geothermal to provide a significant contribution to the national power grid.
Nigeria continues as the key player, ranking as the world’s 13th biggest oil producer, and the continent as a whole produces significantly more oil than it consumes.
Nigeria, a country almost three times the size of Germany, is endowed with bountiful energy resources such as gas, coal and oil, yet the state continues to experience a chronic power shortage.
There have been numerous gas finds in Mozambique and Tanzania since 2010. In fact, finds in the Rovuma Basin have provided the operators of the gas projects enough incentive to develop LNG facilities in both countries.
Section 70 (d) makes reference to the schedule to the Act which contains information as to specific Nigerian content level that must be achieved by operators in the industry.
The quest to increase the level of participation of Nigerians in the oil and gas sector of the economy did not start with the passage of the Nigerian Oil and Gas Industry Content Development Act (NOGICDA or the Act).