ENERGY NEWSTRACK TO 02/10/18:

ENERGY NEWSTRACK TO 02/10/18:

NNPC allegedly planning to import 56yr old second hand refinery from Turkey Civil society organization, BudgIT has raised an alarm over what it describes as attempts to sabotage Nigeria’s petroleum sector via the importation of a 56yr old second hand refinery from Turkey. Read their tweets ———————————————————————————————————– Showa Shell, DEWA, TEPCO Ventures underwritten third party allocated new shares Based on the funds procured from the three companies and the advice based on the knowledge and experiences of the three companies, TRENDE CORPORATION will expand existing services and develop new services, as well as distributing electricity ———————————————————————————– Five nations sign landmark deal on status of Caspian Sea Leaders of the five states encircling the Caspian sea – Kazakhstan, Russia, Iran, Azerbaijan and Turkmenistan – have signed a landmark declaration determining the legal status of the sea during the fifth Caspian Summit in the Kazakh city of Aktau. ——————————————————————————— What Drove Brent Above $85? Oil prices spiked on Monday October 1, 2018 on heightened fears of a supply crunch as more Iranian oil goes offline. Also, news reports suggesting that China is also cutting imports from Iran are only going to add to the bullish sentiment since China was expected to resist U.S. pressure regarding Iranian oil purchases. ——————————————————————————— Fuel Oil Isn’t Going Anywhere Two recent headlines tell us that Trafigura and BP Singapore have merged their fuel oil and gasoil trading desks ahead of the 2020 deadline, which will ban all bunkering fuel with sulfur content of more than 0.5 percent unless the vessel has a scrubber—equipment that strips sulfur emissions from the fuel. ______________________________________________ Quotes by TradingView _______________________________________________ Electric vehicles – the story so far The most immediate effect of the growth in EVs will be the decline in oil demand. If EV stock rises as we expect it to, we’ll see almost 5.5 million barrels per day of gasoline and diesel demand displaced. ——————— Motorists blocked from ordering new hybrid cars .BMW, Mercedes, Porsche and Volkswagen have all ceased taking orders for some of their plug-in hybrid model ——————— Construction of first cryogenic filling station starts on Moscow – St. Petersburg highway The cryogenic filling station will be used primarily for fueling heavy-duty trucks with LNG. It will be located at the premises of the Valdai mixed-use highway service area. ——————— Update On Rig Status – Ororo Field Sirius Petroleum (AIM: SRSP), the Nigeria-focused oil and gas development and production company, announces the following update: The COSL Force jack-up rig has been undergoing an extensive maintenance programme under a recertification process conducted by COSL on station in Dubai, during which all major drilling equipment items and systems are being examined and repaired where necessary, including main engines, top drive, hoisting equipment, mud pumps, and blow out preventer. ——————— Bruce Power awards controls upgrades contract to BHGE The contract includes industry-leading Mark VIe turbine controls as well as BHGE’s Bently Nevada condition monitoring technology, Security ST cybersecurity protection suite and turbine simulator software. Today’s announcement marks the largest controls contract awarded since BHGE was formed in 2017. ——————— GE Introduces the Next Generation of the Waukesha 275GL+ Gas Engine with ESM2 GE Distributed Power (NYSE: GE) announced the latest enhancement to its Waukesha* 275GL+* lean-burn gas engines, the 275GL+ with ESM*2. With a current lead time of less than 20 weeks, this new generation provides a high-performance and economical alternative for customers in the oil and gas midstream industry with compression needs for gathering, processing and transportation applications. The announcement was made at GMRC’s (Gas Machinery Research Council) Gas Machinery Conference, being held Sept. 30-Oct. 3 in Kansas City. ——————— GE Power Wins Order to Develop HA Powered Plant in Bangladesh GE Power (NYSE: GE) announced that it has been selected by Unique Group, to develop the 600 megawatt (MW) natural gas based combined cycle power plant at Meghnaghat, near Dhaka, Bangladesh. Unique Meghnaghat Power Limited (UMPL) will be executing the project. The power plant will produce power equivalent to the electricity needed to supply about 700,000 homes in the region. ——————— oilandgasOil and Gas News Undiluted !!! “Oil is well” Please email us your industry related news for publication info@OilAndGasPress.com Follow us: @OilAndGasPress on Twitter | OilAndGasPress on Facebook]]>

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