The Oil Bloc - The Complete Oil Report

The Federal Executive Council, FEC recently approved $1 billion loan from Chinese EXIM Bank for the Gurara II Hydropower project. Vanguard reported that the Council also approved N5.7 billion for the revised estimated cost for the completion of Nkari dam in Akwa Ibom State. This was disclosed by the Minister of Water Resources, Sulieman Adamu…

Brooge Petroleum and Gas Investment Co (BPGIC) is reported to have partnered with Sahara Energy Resources Dubai to set up an oil refinery to produce bunker fuel with a capacity of up to 250,000 barrel per day (bpd) in the Emirate of Fujairah. It was announced by the partnering team that the facility will be unique in the Middle East and North…

Zimbabwe is likely to introduce electrically powered engines by 2030. This move is aimed at reducing carbon emissions that are largely blamed for fast-tracking global warming. According to 263Chat, Elisha Moyo, a Principal Climate Changer Researcher explained that the move could be positive in as far as mitigating the effects of climate change…

The Nigerian National Petroleum Corporation’s (NNPC) decision to increase the price which it sells Premium Motor Spirit (PMS) to Petrol depot owners have been met with displeasure by the members of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Marketers Association of Nigeria (DAPMAN). This displeasure was revealed…

The Nigerian Police has uncovered a plot by reprobates posing as environmental activists to blow up oil installations in Niger Delta and adjoining states. This was revealed in a statement by the force’s PRO, Frank Mba. The PRO said that the plots are politically motivated and aimed at sabotaging oil installations with intended negative…