Latest Oil & Gas News Roundup For January 15 - January 22, 2023

We're glad you're here for the most recent Oil & Gas News collections, where we swiftly present the most interesting AllNews stories from the previous week.

US Natural Gas Demand Set To Climb As Cold Weather Approaches

In the United States, the price of natural gas increased on Tuesday as a result of a forecast for an impending cold snap that suggested increased demand for the commodity.

However, as mild weather rolled in and storage levels were above the five-year normal on Wednesday morning, natural gas prices were once again declining. Read more here.

No Increase In Pump Price Of Petrol — Sylva

Chief Timipre Sylva, the Minister of State for Petroleum Resources has announced that the Federal Government has not approved any increases in the price of Premium Motor Spirit (PMS), also known as petrol, at the pump.

In a statement released on Friday in Abuja, Sylva said that President Muhammadu Buhari had not given his approval to the rumoured increase in the pump price of PMS. Read more here.

OPEC’s December Production Jumped As Nigeria Accounts For Major Increase

The most current Monthly Oil Market Report released on Tuesday indicates that the Organization of the Petroleum Exporting Countries increased its output in December.

According to the MOMR, Nigeria accounted for nearly all of the increase in OPEC-13's average daily output in December, which increased by 91,000 barrels to 28.971 million bpd. Read more here.

Europe, G7, Others, To Place Cap On Russia's Oil Export

In an effort to penalise Russia for its invasion of Ukraine, the European Union, the G-7, and its allies are now preparing to impose caps on Russian refined product exports by February 5.

The EU embargo also exempts Russian maritime crude oil and product exports to Bulgaria until the end of 2024, as well as exports of vacuum gasoil to Croatia until the end of 2023. Read more here.

Min Oil Bid Round To Increase Energy Security - FG

Chief Executive Officer, NUPRC Gbenga Komolafe: FILE PHOTO

The Federal Government has promised that the mini-bid round for Nigeria will ultimately increase global energy sufficiency.

This was said on Monday at a pre-bid conference in Lagos by Gbenga Komolafe, the Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC). Read more here.

These are the latest Oil & Gas news that made trends during the week. Visit our website https://allnews.ng for more Oil & Gas news around the world.