Author: akajiakunwabekee@yahoo.com

As we stepped into the vibrant tapestry of the 3rd edition of the Intra-African Trade Fair (IATF2023) which took place in Cairo, Egypt, we found ourselves immersed in an atmosphere that was evident of the dynamism and potential of our beloved continent. The bustling energy was a living attestation to the thriving spirit of Africa. Masters Energy Group which was represented by our esteemed Group Managing Director, Barr Mrs. Patience Dappa, and Company Secretary, Barr Mrs. Chinyere Usen, were there…

In a groundbreaking ceremony, Masters Energy Oil and Gas embarked on a transformative journey by commencing the construction of a state-of-the-art $500 million gas storage facility. This monumental undertaking reaffirms our unwavering commitment to shaping the future of energy. With sustainable and dedicated efforts, we promise to be that light and a major contributor to innovation in the energy sector of the country. This ambitious project includes the construction of a 20,000MT gas storage in Port Harcourt, over 200 gas…

BP’s bid to sell the North Sea gas field it owns with Iran could face an eleventh hour delay as the threat of US sanctions raises concern for the industry regulator. The Oil and Gas Authority (OGA) is expected to pause the £300m deal agreed between the oil major and North Sea minnow Serica Energy late last year because the sale includes the Rhum gas field which is part-owned by Iran’s state oil company. The deal was expected to close…

The end of some of the weakest physical crude prices in years could be in sight. While oil futures prices are at their highest since 2014 amid geopolitical risks — including the possibility of renewed U.S. sanctions on Iran — physical prices in some corners of the oil market have been depressed. Russian Urals and Caspian CPC crudes have recently traded at multi-year lows, and West African crude flows to Asia have slumped to the lowest since 2015. The weakness…

The U.S. government boosted its forecast for domestic crude output both this year and next year amid a surge in prices. The Energy Information Administration raised its average output forecasts just as the U.S. benchmark closed above $70/bbl on Monday. The U.S. government reiterated that crude production will still top 11 MMbpd in October. Elevated price levels have encouraged drillers to turn the taps higher. Crude production in the U.S. is already at a record-high and the oil rig count…