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Residents of the Amuokpokpor-Elume community and its neighbouring communities in Sapele and Okpe Local Government Areas of Delta State are now living in fear as they are threatened by oil spillage from leaking wellheads operated by Nigeria’s giant domestic oil firm, Conoil. The spill has led to the outbreak of waterborne and skin diseases in the affected communities. During a peaceful protest, the locals expressed displeasure over the unfortunate disaster, lamenting that the river that has been poisoned by the spill remained the only source of drinking, cooking, bathing, and farming activities to them just as they demanded justice for their health, survival and environment. Christopher Obule, from Amuokpokpor Community who led the protesters at the community waterside, said crude oil and natural gas have been pumping into the community river and nearby fishing settlements for weeks now, along the Amuokpokpor Elume Community coastline through other communities before emptying into the Atlantic Ocean.

Victor Davis Hanson: The Crowded Road To Kyiv Authored by Victor Davis Hanson via AmGreatness.com, To retain our deterrence abroad, we must tighten our belts at home, pump oil and gas, start to balance our budget, junk wokeism as a nihilist indulgence, and recalibrate our military… One of the oddest commentaries about the Russian invasion of Ukraine is the boilerplate reaction that “borders can’t change in modern Europe” or “this does not happen in the 21st century.” But why in the world should the 21st century be exempt from the pathologies of the past 20 centuries? Are we smarter than the Romans? More innovative than Florentines? Do we have more savvy leaders than Lincoln or Churchill? Are they more mellifluous than Demosthenes? Does anyone now remember that some 130,000 were slaughtered just 30 years ago in the former Yugoslavia, as NATO planes bombed Belgrade and nuclear America and Russia almost squared off? Has globalization, the “rules-based order,” the Davos reset elite, the “international community” so improved the very way humans think that they have rendered obsolete the now ossified ancient idea of deterrence?

The post Natural Gas Futures Slide Further on Easing Demand Despite Rising War Jitters; Cash Plummets appeared first on Natural Gas Intelligence

Natural gas futures prices fell on Monday as weather gained the upper hand early in the trading session despite intensifying concerns regarding the

Near-term forecasts for warmer temperatures in Texas look likely to squash the recent run of higher spot natural gas prices in the state, with gas demand expected to fall while risks of production freeze-offs dwindle. Already, spot gas prices across the Lone Star State fell in Feb. 28 trading for next-day flows. In East Texas, cash Houston Ship Channel dropped…

The Russian invasion of Ukraine upended the energy policy of Germany. In just a few days since Putin decided to invade Ukraine, Europe’s biggest economy - heavily dependent on Russian pipeline gas and the end point of another project to receive natural gas from Russia - has suspended the new pipeline project and said no energy source is off the table when it comes to ensuring German energy security. Early last week, hours after Russian President Vladimir Putin recognized two separatist regions in eastern Ukraine and deployed troops there,…

At a time countries are moving away from fossil fuels, Timipre Sylva, the minister of State for Petroleum Resources has maintained that awarding marginal fields bid round is a big deal for Nigeria, as it presents an opportunity to speed up its fossil fuel exploitation and make good use of the resources for the betterment of the country. Speaking during the Nigeria International Energy Summit in Abuja on Monday, Sylva noted marginal fields help to ensure exploitation of the nation’s fossil fuel in an economic manner rather than abandoning the huge oil and gas reserves in the ground. According to him, “the year 2021 was a milestone for Nigeria’s energy sector and witnessed a number of record-breaking activities. Three of these activities stand out First, the successful conclusion of the Marginal Fields Bid Round; Second, the Petroleum Industry Act(PIA) seeing the light of the day, and third is the Decade of Gas initiative. “Both the Marginal field bid round and the Petroleum Industry Act surmounted over two-decade challenges in the doldrums before they saw the light of the day.

The Biden administration, in extraordinary and rapid cooperation with allies over a period of three days, has doubled down on its vow to impose “ severe sanctions ” against Russia for its military aggression against Ukraine. This article was authored by David Cortwright and George A. Lopez . On Feb. 26, 2022, the U.S. and Europe agreed to cut off some Russian banks from the SWIFT messaging system, which is used to make trillions of dollars’ worth of transactions every day, an option so devastating it has been called “ the nuclear option ” of sanctioning. They also vowed to prevent Russia from accessing some of its foreign reserves, making it harder to offset the effects of the sanctions. Two days earlier, the White House announced a multifaceted sanctions package that cuts off Russia’s major banks and companies from Western financing and imposed direct financial costs on many of Russian President Vladimir Putin’s top allies. It also restricted Russia’s access to semiconductor products and the technologies it needs to sustain its industrial sector and military capabilities.

Following Russia’s invasion of Ukraine, one of the issues being discussed a lot in the West is what an ongoing military conflict may do to oil prices. Russia is one of the world’s largest oil producers. According to the 2021 BP Statistical Review of World Energy, in 2020 Russia produced 10.1 million barrels per day (BPD) of crude oil and natural gas condensate. That was good for second place behind the U.S. at 11.3 million BPD. Saudi Arabia was third at 9.3 million BPD. However, the U.S. also consumes far more oil (17.2 million BPD)…

Consumption was lower in the latest week according to the EIA

Could Russia''s Invasion Of Ukraine Spark Another Arab Spring? Authored by Cyril Widdershoven via OilPrice.com, Russia’s invasion of Ukraine has caused plenty of analysts to worry about the future of global financial and energy markets, but there is a major consequence being overlooked. Russia and Ukraine are major exporters of food and agricultural products, and if these products are disrupted then there could be significant unrest in the MENA region. The MENA region will also have to deal with the energy, security, and financial consequences of taking sides in what is sure to be a protracted conflict between Russia and the West. The ongoing military Russian onslaught on Ukraine is reverberating across commodity markets. At present, Western media is mainly focusing on the direct effects of the military invasion and resultant sanctions on European and U.S. commodity markets. Crude oil prices are spiking while natural gas markets are in crisis mode. The importance of Russia in European energy markets has been highlighted in recent weeks, revealing the extent of European dependence on Russian oil and gas imports.

There will be alternatives to Russian natural gas supply in the five-year horizon, World Bank President David Malpass told CBS

COPENHAGEN (Reuters) – Danish energy firm Orsted has stopped sourcing Russian coal and biomass for its power plants but will continue to buy up to 2 billion cubic metres (bcm) of natural gas from Gazprom per year under a long-term contract.

In 2021, Turkey imported 8,820.24 million cubic meters of natural gas from Azerbaijan, Report informs referring to the report of the Turkish Energy Market Regulatory Authority (EPDK) that this is 22.7% less than the same period last year.

Russia is still pumping and exporting vast amounts of oil and natural gas to the rest of the world in the face of Western sanctions. At the heart of it lie London-listed energy giants Gazprom and Rosneft.