U.S. crude oil production tops 7 million barrels per day, highest since December 1992

U.S. crude oil production tops 7 million barrels per day, highest since December 1992.Source:U.S. Energy Information Administration, Petroleum Supply Monthly. Note: Crude oil production includes lease condensate. U.S. crude oil production exceeded an average 7 million barrels per day (bbl/d) in November and December 2012, the highest volume since December 1992. The end-of-year data were reported

U.S. energy intensity projected to continue its steady decline through 2040

U.S. energy intensity projected to continue its steady decline through 2040Source:U.S. Energy Information Administration, Annual Energy Review and Annual Energy Outlook 2013.In the United States, energy intensity has been declining steadily since the early 1970s and continues to decline in EIA's long-term projection. A country's energy intensity is usually defined as energy consumption per unit

Saudi Arabia was world's largest petroleum producer and net exporter in 2012

Saudi Arabia was world's largest petroleum producer and net exporter in 2012.Source:U.S. Energy Information Administration, International Energy Statistics and Short-Term Energy Outlook.Note:Total petroleum production includes crude oil, natural gas liquids, condensates, refinery processing gain, and other liquids including biofuels.Saudi Arabia was the world's largest producer and exporter of

Homes show greatest seasonal variation in electricity use

Homes show greatest seasonal variation in electricity use.Source:U.S. Energy Information Administration, Electric Power MonthlyNote: The blue shaded areas show the range between maximum and minimum electricity sales values for each sector over this four-year period. Electricity use varies with the weather, as changes in temperature and humidity affect the demand for space heating and cooling. The

Power plant emissions of sulfur dioxide and nitrogen oxides continue to decline in 2012

Power plant emissions of sulfur dioxide and nitrogen oxides continue to decline in 2012Source:U.S. Environmental Protection Agency, Clean Air Markets Division.Emissionsof sulfur dioxide (SO2) and nitrogen oxides (NOx) from the electric power sector in 2012 declined to their lowest level since the passage of the Clean Air Act Amendments of 1990. The decline in emissions is due primarily to an

Shell declares force majeure on Bonny Light

The Shell Petroleum Development Company, SPDC, has declared force majeure on its Bonny Light crude following the shutdown of Nembe Creek Trunkline (NCTL) after a leak was observed on Sunday.Shell said in a statement, Tuesday, that the cause ogf the leak would be determined by a Joint Investigation Visit, which will be scheduled once the leak point had been excavated.Shell’s Corporate Media

British High Commission organises networking for oil, other sectors

The British High Commission in conjunction with ACIOE and UK Trade and Investment, UKTI, is putting together a two-day Business to Business Networking event for the Oil & Gas, Real Estate, Construction, Agriculture and Retail Industry sectors in Nigeria.The event for the 7th and 8th of March 2013 at the Four Points Hotel, Lagos.A statement by theTrade Development Manager of the British High

OPEC daily basket price clkose at $107.64/b

Vienna, Austrian - The price of OPEC basket of twelve crudes stood at 107.64 dollars a barrel on Wednesday, compared with $106.99 the previous day, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait

Uduaghan explains delay in Refinery Road project

Delta State Governor, Dr. Emmanuel Uduaghan, Tuesday, said the delay in the completion of the five kilometre Refinery Road, Effurun, Uvwie Local Government Area, was caused by problem of compensation.Inspecting the project, he pointed out that the contending issues had been resolved. The governor, consequently asked the contractor, ARC Construction, to deliver the project by the end of May,

BPE reads riot act to bidders over Kaduna DisCo, Afam Power

Acting Director-General, DG, of Bureau of Public Enterprises, BPE, Mr. Benjamin Dikki, has warned that he would not bend the privatisation guidelines for any prospective investor with respect to selling the Kaduna Electricity Distribution Plc and the Afam Power Plc to private operators.Speaking at the pre-due diligence conference for the re-tender of Afam Power Plc and Kaduna Electricity

Nembe trunk line shutdown slashes Nigeria’s oil output by 140,000bpd

Nigeria’s oil output has dropped by about 140,000 barrels per day as a result of the shutdown of Shell-operated Nembe Creek trunk line in Bayelsa State. The trunk line delivers crude oil from Shell’s producing fields to its export terminal on Bonny Island, Rivers State.The company shutdown the facility after a leakage was detected on the pipeline.The development has led Shell Petroleum

PIB splits Nigerian Senate as discussion commences

Members of the Nigerian Senate, Tuesday split along Southern and Northern regional line when discussions on the new Petroleum Industry Bill, PIB, commenced on the floor of the Senate.Tuesday’s proceedings marks the beginning of a three-day debate on the bill.Members shouted down one another when the discussions started. The session was only prevented from being rowdy by the maturity of the

PIB Debate: North controls 83% of Oil Blocs

Chairman, Senate Committee on Rules and Business, Senator Ita Enang, has called on President Goodluck Jonathan to revoke and re-allocate oil blocs, saying that the northerners control 83 per cent of oil blocs in the country.Senator Enang said this, Wednesday, when discussions on the new Petroleum Industry Bill, PIB, entered its second day on the floor of the Senate in reaction to the position of

Presidential committee gives NDDC low marks

The Presidential Committee, which monitored the activities of the Niger Delta Development Commission, NDDC, has rated the commission’s performance since it commenced operation as low.The committee,which submitted its report to President Goodluck Jonathan, Tuesday in Abuja, ruled that the activities of the commission were characterised by abandoned projects, unjustified and arbitrary variation of

Oil falls below $111 on U.S. inventory data

London - Oil prices fell more than $1 per barrel on the international market, Wednesday after U.S. government data showed domestic crude inventories rose much more than forecast.U.S. crude stocks rose 3.83 million barrels in the week to March 1, the Energy Information Administration said in its weekly report.The rise came even as refinery utilization fell during winter plant maintenance season

Few transportation fuels surpass the energy densities of gasoline and diesel

February 14, 2013 Few transportation fuels surpass the energy densities of gasoline and diesel.Source: U.S. Energy Information Administration, based on the National Defense University.Energy density and the cost, weight, and size of onboard energy storage are important characteristics of fuels for transportation. Fuels that require large, heavy, or expensive storage can reduce the space available

EIA now delivers monthly electricity data in interactive data browser

February 15, 2013 EIA now delivers monthly electricity data in interactive data browserSource: U.S. Energy Information Administration. The U.S. Energy Information Administration recently posted an electricity data browser to show generation, consumption, fossil fuel receipts, stockpiles, retail sales, and electricity prices. The data appear on an interactive web page and are updated each