NEW YORK (Reuters) -- US East Coast refiners are in the midst of their biggest buying spree of Algerian crude in years as they take advantage of cheap oil spilling out of the region, traders said on Thursday.
LAGOS (Reuters) -- A Nigerian oil labor union is set to stage a three-day strike at Chevron and Exxon Mobil fuel depots from Wednesday in a protest over sackings pending the outcome of talks with the government, union officials said on Monday.
LAGOS/LONDON (Reuters) -- State-run Nigerian National Petroleum Corporation (NNPC) has awarded its 2017 crude oil term contracts to 39 companies, the company said on Tuesday.
ACCRA (Reuters) -- Ghana's domestic oil importers said on Friday they may take legal action against the government to recover interest on an outstanding debt of $384 million that presents an early headache for the incoming government.
It is no secret that capital costs of major projects have skyrocketed over the past decade. A July 2015 industry report noted that the average megaproject’s cost increase is 80% of its original value, with an average schedule slippage of 20 months.
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According to Hydrocarbon Processing’s Construction Boxscore Database, over 1,000 new projects have been announced since 2014. Nearly half of these projects were announced in 2014, and the trend shows a steady decline in new project announcements since that time.
The COP21 event left the world with new mandates to develop and implement low-emissions energy sources to power the global economy. To limit global warming, the world must increase the use of resources like natural gas, which offers a quick, relatively clean and inexpensive interim step in the global transition from high-emissions resources to renewable energy sources.
The Hague, Shell announced its Pearl gas-to-liquids (GTL) plant in Ras Laffan Industrial City, Qatar, is currently operating at a reduced rate of production due to unforeseen maintenance required on some or all of the plant’s 18 gasifier units.
ABUJA (Reuters) -- Nigeria is trying to import more jet fuel but air travelers tired of delays must be patient as a shortage of foreign currency will continue to hurt the airline industry, the minister of aviation said.