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Even though the Nigerian National Petroleum Corporation (NNPC) has withdrawn the discovered 100 million litres of adulterated petrol from the market, the ongoing fuel scarcity would continue as transporters of the commodity begin to strike. Yusuf Othman, the National President, Nigerian Association of Road Transport Owners (NARTO), revealed that Nigerians are not only experiencing fuel scarcity due to the discovery of methanol in 100 million litres of petrol. According to him, the federal government’s refusal to increase the freight rate for transporting petrol, has also contributed to it. Continue reading Fuel Scarcity To Continue As Petrol Transporters Begin Strike at BizWatchNigeria.Ng.

President Nana Addo Dankwa Akufo-Addo, left Ghana, on Thursday, February 10, 2022, to begin a 10-day working visit to France, Guyana, Belgium, Germany and the United Kingdom. The President’s first port of call will be Brest, France, where, at the invitation of Emmanuel Macron, President of the French Republic, he will participate in the One Ocean Summit, to be held on Friday, February 11, 2022. Up to 40 world leaders are due to make “ambitious and concrete commitments” towards combating illegal fishing, decarbonising shipping and reducing plastic pollution at what is billed as the first high-level summit dedicated to the ocean. Thereafter, he will, at the invitation of Dr. Mohamed Irfan Ali, President of the Cooperative Republic of Guyana, travel to Georgetown, Guyana, participate as a keynote speaker at the maiden International Energy Conference and Expo by Guyana to be held from 15th to 18th February, 2022. Ghana and Guyana are developing close working relations in the oil and gas sector.

The possibility of interest rate hikes in the US has impacted the global crude oil markets

Benchmark oil prices in line for first weekly decline since December

RAYONG: A fresh oil spill was found in the Gulf of Thailand off the coast of Rayong yesterday (Feb 10) and was being cleaned up, according to local authorities.

Oil prices eased on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply.

NEW YORK , Feb. 10, 2022 /PRNewswire/ -- The screw pumps market is set to grow by USD 1.05 bn between 2021 and 2026, and register a CAGR of 6.43%, according to Technavio''s latest market forecast report estimates. With a focus on identifying dominant industry influencers, Technavio''s reports present a detailed study by the way of synthesis and summation of data from multiple sources. For additional highlights related to the screw pumps market, Read our Free Sample Report The screw pumps market is fragmented, and the degree of fragmentation will accelerate during the forecast period. To leverage the current opportunities, market vendors must strengthen their foothold in the fast-growing segments while maintaining their positions in the slow-growing segments. The rise in manufacturing activities and growing demand for alternative energy are notably driving the screw pumps market growth. However, factors such as stiff competition within the screw pumps market may challenge the market growth.

China Was Never On Path to Meet "Phase 1" Purchase Commitments: Report By Michael Washburn of The Epoch Times China’s failure to meet the import targets agreed to under the “phase one” trade agreement with the United States signed in January 2020 can’t be blamed wholly on the global COVID-19 pandemic and supply-chain disruptions, according to a new report issued by the Peterson Institute for International Economics (PIIE). The failure reflects unrealistic import targets that China was never actually on track to meet, while some degree of bad faith on both sides of the deal also came into play, the report states. Under the “phase one” trade agreement, Beijing committed to increasing its purchase of U.S. products across the agricultural, energy, and manufacturing sectors in 2020 and 2021 by at least $200 billion beyond what China had purchased in 2017. The targets were at least $227.9 billion worth of U.S. products in 2020 and at least $274.5 billion in 2021, totaling $502.4 billion for the two years in question.

Nghi Son refinery''s financial strain and lingering uncertainty about its overall 2022 operation outlook could significantly hamper Vietnam''s ambition to become fully self-sufficient in oil products, with South Korean refiners aiming to take advantage of the country''s fragile refining capacity to boost middle distillate sales to the Southeast Asian market. The 2022 operation and fuel production outlook of Vietnam''s biggest

Crude oil futures fell in midmorning trade in Asia Feb. 11, tracking the broader financial markets lower following a volatile overnight session that saw prices pressured by a hot inflation report and remarks from US President Joe Biden pledging to curb high energy prices. At 10:37 am Singapore time (0237 GMT), the ICE April Brent futures contract was down 30…

By Emily Chow BEIJING (Reuters) Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply.

https://www.investing.com/news/commodities-news/oil-prices-slip-on-hot-us-inflation-concerns-2761911

BEIJING : Oil prices eased early on Friday as hot U.S. inflation fanned worries about aggressive interest rate hikes and as investors await the outcome of U.S.-Iran talks that could lead to increased global crude supply.Brent crude futures fell 40 cents, or 0.4per cent, to $91.01 a barrel at 0140 GMT, whi

The company reported net profit of $16 billion (14 billion euros) -- the highest in at least 15 years -- following a historic $7.2-billion loss in 2020, when oil prices crashed.

The Organisation of Petroleum Exporting Countries (OPEC) says Nigeria’s crude oil production increased to an average of 1.398 million barrels per day in January. OPEC made this known in its Oil Market Report for February 2022. The report said the figure showed an increase of 81,000 barrels per day, when compared to the 1.317mb/d produced […] The post OPEC: Nigeria’s crude oil production increased to 1.398mbpd in January appeared first on Freedom Online .