Solo Oil has signed a sale and purchase agreement (SPA) to end its 20 per cent investment in Burj Petroleum Africa Limited (Burj), a company that applied for various undeveloped fields in the 2014 Nigerian Marginal Fields Bid Round
OPEC will need to make deeper supply cuts to keep oil prices above US$60 per bbl, according to 69 per cent of those surveyed in the Gulf Intelligence (GIQ) monthly Energy Market Survey in August
Nigeria is expected to drive the growth of new-built crude distillation (CDU) capacity in the global refinery industry from planned and announced (new-built) projects over the 2019-2023 outlook period
The subsea market in 2019 will experience y-o-y growth for the first time since 2014, but the positive outlook is vulnerable to any significant decline in oil prices over the next few years, according to energy research and consulting firm Rystad Energy
McKinsey Energy Insights states that new refinery capacity led by greenfield projects in Asia and the Middle East is expected to have a negative impact on global hub refining utilisation as early as 2022
