Market Report: Production begins on Golar LNG FLNG Project in Cameroon
AOP > Explore > Market Report: Production begins on Golar LNG FLNG Project in Cameroon
The weekly Market Report is provided by Gladius Commodities of Lagos, Nigeria. Download the full report here. Learn more about Gladius Commodities at www.gladiuscommodities.com.
On Tuesday 13th March, the Nigerian National Petroleum Corporation Nigeria (NNPC) said it is pushing ahead with its goal to revive the nations ailing oil refineries and becoming a net exporter of petroleum products by the end of 2019. Mr Anibor O. Kragha, NNPCs Chief Operating Officer of Refineries and Petrochemicals said the overhaul projects of the refineries will commence in the second quarter of 2018 and will run until the end of 2019. Kragha said the corporation was in the final stages of talks with consortiums including top traders, energy majors, and oil servicing companies to revamp the refineries in an effort to reduce the countrys reliance on imported fuel. Kragha also stated that from July 2018, Nigeria would begin lowering the top level of sulphur in diesel from 3000 to 50 parts per million (ppm), targeting a cut to 150 ppm by October 1, 2019.On Wednesday 14th March, Dr. Ibe Kachikwu, the Minister of State for Petroleum Resources, said the modular refineries under construction in the oil-producing Niger Delta region of the country will halt illegal refining and save the environment and provide jobs for residents engaging in illegal bunkering. Kachikwu, however, pointed out that the small refi....