Latest Oil & Gas News Roundup For March 19 - March 26, 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.

Russia Surpasses Saudi Arabia As China's Leading Oil Supplier

Russia has surpassed Saudi Arabia to become China's biggest oil supplier in the first two months of 2023 as consumers bought up sanctioned Russian oil at deep discounts according to Chinese government data.

According to data from the General Administration of Customs, arrivals from Russia reached 15.68 million tonnes, or 1.94 million barrels per day (bpd), in January and February. Read more here.

FG, Politicians Drove Oil Industry Into Mess, Says Report

The Centre for the Promotion of Private Enterprise (CPPE) has claimed that the Federal Government and politicians mismanaged the oil and gas sector to the point where there is an ongoing shortage of Premium Motor Spirit, also known as petrol, pipeline vandalism, oil theft, and other threats to the oil and gas industry.

CPPE described the management of the oil business by politicians a failure and emphasised that the government should lessen its sway over the sector and privatise some facilities, including the four refineries currently controlled by the Nigerian National Petroleum Corporation Limited. Read more here.

Kuwait Oil Company Declares State Of Emergency After Onshore Oil Spill

The state-owned company of one of OPEC's top producers, Kuwait Oil Company, has announced a state of emergency on Monday, following an oil leak on land.

The company was quoted by AFP as claiming that no one was hurt and that the incident did not affect oil output. Read more here.

Oil Measurement Laws: What Federal Government's Enforcement Means

Nigeria loses billions in revenue by relying on international and indigenous oil companies to determine the amount of crude oil they produce. 

Since the country analyzes its crude oil before exporting, the same requirement should ordinarily be applied to the fuel it imports into the country.  Read more here.

NLNG Joins United Nations Initiative In Cutting Methane Emissions

In an effort to lower methane emissions, the Nigeria LNG Ltd. (NLNG) has disclosed that it has joined the Oil and Gas Methane Partnership (OGMP 2.0).

The partnership is managed by the UNEP. 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.