22 January 2017, Vienna — OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices. ...


A Review of The Nigerian Energy Industry

NEWSLETTER -  Sun, Jan 22 2017

Ministers laud strong start to OPEC, non-OPEC oil output cuts

Ministers laud strong start to OPEC, non-OPEC oil output cuts
22 January 2017, Vienna — OPEC and non-OPEC countries have made a strong start to lowering their oil output under the first such pact in more than a decade, energy ministers said on Sunday as producers look to reduce oversupply and support prices. “The deal is a success …All the countries are sticking to the […]

      

Saudi’s Falih says output cuts set to lower oil inventories

Saudi’s Falih says output cuts set to lower oil inventories
22 January 2017, London — Saudi Arabian Energy Minister Khalid al-Falih said on Sunday that OPEC and non-OPEC oil producers were complying with their pledge to lower oil output and that global oil inventories could be taken back to their five-year average by mid-year with full compliance. “There is no reason for us to suddenly […]

      

Militants didn’t blowup pipeline in Ughelli – Nigerian military

Militants didn’t blowup pipeline in Ughelli – Nigerian military
22 January 2017, Abuja — The Nigerian Military has denied reports that militants blew an oil pipeline in Delta State after Vice President Yemi Osinbajo’s visit, saying it was a bush-burning incidence that was put under control immediately. A statement issued by the Director, Defence Information (DDI), Brig.-Gen. Rabe Abubakar said: “The report to say […]...

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Russia’s Novak says sees oil price at $50-$60 in 2017

Russia’s Novak says sees oil price at $50-$60 in 2017
22 January 2017, Moscow — Russian Energy Minister Alexander Novak sees global oil prices at between $50 and $60 per barrel in 2017, TASS news agency quoted him as saying on Sunday. According to Interfax news agency, Novak also said that countries involved in a deal between OPEC and non-OPEC oil producers could reduce their […]

      

China crude oil throughput hits daily record in 2016

China crude oil throughput hits daily record in 2016
22 January 2017, Beijing — China’s December refinery production touched new highs as facilities replenished stocks ahead of a long holiday break, lifting crude oil throughout for the year as a whole by 2.8 percent to another record. The surge came as China’s crude oil production slipped last year to its lowest annual level since […]

      

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Sweetcrude is a review of the Nigerian energy industry. The publication has evolved to become the voice and watchdog of industry, reporting all spectrum of the energy chain in-country and serving as an interface between the Nigerian energy industry and that of Europe, the Middle-East and the American continent.


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