Tag Archives: supply

OPEC+ unlikely to deepen oil supply cuts at June 4 meeting, sources say

By | 06/01/2023

By Ahmad Ghaddar and Maha El Dahan LONDON/DUBAI (Reuters) – OPEC and its allies are unlikely to deepen supply cuts at their ministerial meeting on Sunday despite a fall in oil prices toward $70 per barrel, four sources from the alliance told Reuters. OPEC+, which groups the Organization of the Petroleum Exporting Countries and allies… Read More »

How FMBN is Tackling Affordable Housing Supply Challenge – THISDAYLIVE

By | 06/01/2023

Terhemen Ikyaave Nigeria’s housing supply crisis has left a significant portion of the population trapped in a cycle of unaffordability and inadequate living conditions. With a rapidly growing population and urbanization rates on the rise, the demand for housing has outpaced the available supply, resulting in skyrocketing prices and limited options for aspiring homeowners. According… Read More »

Left High & Dry, These Villages on Outskirts of Mumbai are Dependent on Tankers for Daily Water Supply

By | 05/31/2023

On the Mumbai-Nasik Highway in Shahapur district is a small village named Chintaman, with a population of less than 500, where women wait for hours every day to fetch water from the tanker. Nirmala Mange, who is the elected Sarpanch of the village, is no exception. She, too, has to wait every day with other… Read More »

Russia and Saudi Arabia are at odds after a flood of Russian oil supply pushed the commodity’s price below a key break-even level needed to fund Saudi projects

By | 05/31/2023

Saudi Crown Prince Mohammed Bin Salman announces a zero-carbon city called &quotThe Line&quot to be built at Neom in northwestern Saudi Arabia, January 10, 2021.Saudi Royal Court Saudi Arabia is growing annoyed with Russia as Moscow continues to pump cheap crude oil into the market. The increased supply of oil from Russia is helping push… Read More »

IISc researchers develop energy efficient solar desalination system for areas which do not have continuous supply of electricity

By | 05/30/2023

Researchers at the Indian Institute of Science (IISc), Bengaluru have developed a novel thermal desalination system which can work using solar energy. The researchers claimed that the unit is energy-efficient, cost-effective and portable, making it convenient to set it up in areas with limited access to continuous electricity. The aim of the research is to… Read More »

We have enough supply – NNPC boss, Mele Kyari asks Nigerians to stop panic buying of petrol (video)

By | 05/30/2023

The Managing Director of the Nigerian National Petroleum Corporation, Mele Kyari, has appealed to Nigerians to stop panic buying of petroleum products.    Shortly after President Tinubu during his inauguration speech announced that Subsidy has come to an end, Nigerians trooped to the fuel stations in fear that petrol would become scarce and more expensive.… Read More »

Ahead of monsoon season, what is the food supply situation

By | 05/29/2023

Even as kharif plantings are set to take off with the southwest monsoon, and the India Meteorological Department (IMD) has reiterated its earlier forecast of just-about normal rainfall during the season (June-September), the supply and demand balances in key food commodities is comfortable, yet tight. While there are no shortages for now, a great deal… Read More »

$1.2bn Zungeru Power Plant Begins Supply of 700MW to National Grid – THISDAYLIVE

By | 05/28/2023

Emmanuel Addeh in Abuja The Minister of Power, Abubakar Aliyu, has announced that the long-awaited Zungeru Hydroelectric power project has been completed, and is already supplying 700 megawatts of electricity to the national grid.Aliyu, who spoke at a farewell party organised for him and the Minister of State, Goddy Jedy-Agba, noted that the development will… Read More »

Oil Prices Rise on Prospects of Debt Ceiling Deal and Supply Conflict

By | 05/26/2023

Last Updated: May 26, 2023, 23:44 IST New York, United States of America (USA) Benchmarks had settled more than $2 per barrel lower on Thursday after Russian Deputy Prime Minister Alexander Novak played down the prospect of further OPEC+ production cuts. (Image: Reuters File) Brent crude was up 39 cents, or 0.5%, at $76.66 a… Read More »

Advonics Gets AQC Award Days After FEC Approved Railway, Aviation Security Equipment Supply, Installation – THISDAYLIVE

By | 05/25/2023

Oluwaseyi Adedotun A frontline security outfit, Advonics Services Nigeria Limited (ASNL), was recently named the Best World Quality Security & Safety Products & Services Company in Africa for the last Decade, by Africa Quality Congress (AQC), a few days after the Federal Executive Council (FEC), approved the supply and installation of security equipment for the… Read More »

Nvidia Shares Surge 21 Percent as Sales Forecast Jumps and AI Booms

By | 05/25/2023

Last Updated: May 25, 2023, 03:14 IST Nvidia forecast current-quarter revenue of $11 billion, plus or minus 2%. Analysts polled by Refinitiv are expecting revenue of $7.15 billion. (Image: Nvidia logo/Reuters) The artificial-intelligence boom has helped Nvidia become the fifth-most valuable U.S. company by market value Nvidia Corp on Wednesday forecast second-quarter revenue more than… Read More »

Beer industry ‘in shock’ that Bud Light backlash continues as expert warns of supply shortages of rival lagers

By | 05/24/2023

The entire beer industry is floored that Bud Light is still taking heat over its now-infamous promo with transgender influencer Dylan Mulvaney and the backlash has put rival beers in high demand, according to the publisher of prominent trade publication Beer Business Daily.  “The whole industry is in shock. Even Bud’s competitors aren’t really dancing on… Read More »

Apple Strikes Multibillion-Dollar Supply Deal With Broadcom

By | 05/24/2023

Apple Strikes Multibillion-Dollar Supply Deal With Broadcom Follow Us on Google News

Oil Prices Rise as Strong Demand Forecasts Outweigh Supply Concerns

By | 05/23/2023

Last Updated: May 23, 2023, 00:57 IST Last week, both oil benchmarks gained about 2% in their first weekly rise in five after wildfires shut in large amounts of crude supply in Alberta, Canada. (Image: Reuters File) Oil prices, however, were held in check by a stronger dollar and as the market waited for news… Read More »

Ford Strikes Lithium Supply Deals With World’s Top Producers

By | 05/22/2023

(Bloomberg) — Ford Motor Co. peppered investors with new battery-material sourcing agreements in a show of how it’s solidifying the supply chain it will need for a massive expansion in electric-vehicle production. Most Read from Bloomberg The two biggest names among the various companies that announced deals with Ford on Monday — US-based Albemarle Corp.… Read More »

Our refinery will supply first product to market by July — Dangote – Premium Times Nigeria

By | 05/22/2023

The President of Dangote Group, Aliko Dangote, said Monday that the first refined petroleum products from the 650,000 barrels per day Dangote Refinery would hit the market before the end of July. Mr Dangote disclosed this while delivering his speech during the official commissioning of the refinery. President Muhammadu Buhari on Monday commissioned the refinery… Read More »

Oil slips as U.S. debt caution offset supply concerns

By | 05/22/2023

By Florence Tan SINGAPORE (Reuters) -Oil prices slipped on Monday as caution around the U.S. debt ceiling talks and concerns about demand recovery in China offset support from lower supplies from Canada and OPEC+ producers. Brent crude futures fell 48 cents, or 0.6%, to $75.10 a barrel by 0201 GMT while U.S. West Texas Intermediate… Read More »

High expectations as Dangote breaks NNPC’s monopoly, shrinks EU supply to Africa

By | 05/22/2023

President Muhammadu Buhari, who did not bring to reality his pledges of overhauling state-owned refineries in Port-Harcourt, Warri and Kaduna, will today commission Dangote Refinery as stakeholders count the gains of the facility. The post High expectations as Dangote breaks NNPC’s monopoly, shrinks EU supply to Africa appeared first on The Guardian Nigeria News –… Read More »

Wabote Seeks Double-digit Oil Contribution to GDP, NNPC to Supply 300,000 bpd to Dangote Refinery – THISDAYLIVE

By | 05/19/2023

*We have  paid IOCs cash call debts, says Wunti Emmanuel Addeh in Abuja, Peter Uzoho in Lagos and Olusegun Samuel in Yenagoa The Executive Secretary of the  Nigerian Content Development and Monitoring Board (NCDMB), Mr Simbi Wabote, yesterday argued that  the oil and gas industry could return to contributing double-digit to the country’s Gross Domestic… Read More »

LG Display To Supply OLED TV Panels to Samsung: Report

By | 05/16/2023

Samsung Electronics has its own display-making unit. South Korea’s LG Display Co Ltd will start supplying highend TV panels to Samsung Electronic Co Ltd from as early as this quarter, three sources said, in a deal that would help the lossmaking flatscreen maker turn profitable. South Korea’s LG Display Co Ltd will start supplying high-end… Read More »

Global gas supply to remain tight in 2023 amid lower Russia deliveries to Europe

By | 05/06/2023

Global gas supply is set to remain tight in 2023 and the global balance is subject to a wide range of uncertainties. Risks such as weather factors, such as a dry summer or a cold Q4, lower availability of LNG and the possibility of a further decline in Russian pipeline gas deliveries to the European… Read More »

Grain trader Cargill faces legal challenge in US over Brazilian soya supply chain

By | 05/04/2023

The world’s largest grain trader, Cargill, is facing a first-ever legal challenge in the United States over its failure to remove deforestation and human rights abuses from its soya supply chain in Brazil. ClientEarth, an environmental law organisation, filed the formal complaint on Thursday, accusing Cargill of inadequate monitoring and a laggard response to the… Read More »