CPPE CEO says Reforms to Progress Nigeria’s Oil and Gas Sector above Current N2Trn Value The Chief Executive Officer, CEO of the Center for the Promotion of Private Enterprise (CPPE), Dr. Muda Yusuf has predicted that the value of Nigeria’s oil and gas industry currently at N12 trillion based on Gross Domestic Product, GDP in…
Deep Blue Assets Deployed, Functioning – Nigerian Navy The Nigerian Navy says assets acquired by the Nigerian Maritime Administration and Safety Agency, NIMASA under the Integrated National Security and Waterways Protection Infrastructure, otherwise known as the Deep Blue project have been deployed across the Southwest, Central and Eastern Zonal operations to enhance patrol of the…
Nigeria Must Fully Implement the Petroleum Industry Act The signing of the PIA represented the culmination of more than 20 years of efforts to reform an oil and gas sector plagued by long-standing problems on multiple fronts For years, on behalf of the African Energy Chamber (AEC), I publicly encouraged Nigeria’s leadership to sign the…
Eni Takes Over Chevron’s Stake in Indonesia Deepwater Gas Project Eni signed a deal on Tuesday to take over U.S. oil giant Chevron’s stake in the Indonesia Deepwater Development (IDD) gas project, bolstering the Italian company’s position in the southeast Asian oil and gas producer. Chevron said it agreed to sell the shares of its…
Engr. Felix Chijioke Obike is the 2023 Chairman of Society for Petroleum Engineers (SPE) Nigeria Council. Obike who currently works for SEPLAT Energy had earlier worked in Shell Nigeria and ADNOC in Abu Dhabi with over 31 years of Industry and academic experience in Completions and Well Intervention, Well Integrity, Production Operations, and an SME…
Diversity in Data Centers to Drive Sustainability. By Mouna Essa-Egh – Vice President Middle East Africa, Secure Power Division, Schneider Electric Although data centers remain at the heart of an increasingly digital world, the sector has also historically always been incredibly energy hungry. In fact, it is incumbent upon data center owners and operators —…
India’s Reliance Posts Weak Profits on Underperforming Refining Segment India’s largest energy company, Reliance Industries (NSE: RELIANCE), has posted lower-than-expected Q2 2023 profits after its petrochemicals and refining businesses underperformed. The oil-to-retail conglomerate owned by Asia’s richest man Mukesh Ambani saw net income fall 11% Y/Y to 160.1 billion rupees ($1.95 billion), well below the…
Novatek Set to Oust Gazprom as Russia’s Top Gas Supplier to Europe Increased supplies of liquefied natural gas (LNG) from Russia’s Novatek mean the company is close to overtaking Kremlin-controlled Gazprom as the country’s leading fuel supplier to Europe, Reuters calculations show. Novatek’s rise towards the coveted top spot underlines how much the Ukraine conflict…
Saudi Aramco Buys $3.4 Billion Stake in Chinese Petrochemical Firm Saudi Aramco said on Friday it had completed the purchase of a 10% stake in a Chinese petrochemical firm for the equivalent of $3.4 billion as the Saudi oil giant continues to expand its downstream footprint in one of its key export markets. Aramco successfully…
NNPCL Begins Remittance into Federation Account After Subsidy Removal In line with the provisions of the Petroleum Industry Act 2021, the Nigerian National Petroleum Company Limited has commenced the payment of dividend into the federation account. The NNPC Limited on Thursday begun the payment of interim dividend and PSC profit oil as part of the…