Afreximbank, Torxen Energy Resources sign $75m DA for PPL 241 Pan-African supranational multilateral financial institution the African Export-Import Bank (Afreximbank) and exploration and production company Torxen Energy Resources signed a $75 million development agreement for Petroleum Production License (PPL) 241, offshore Nigeria. The deal was signed during the first day of African Energy Week (AEW)…
Qatarenergy, Shell Agree 27-Year LNG Supply Qatar has further expanded its long-term gas supply to Europe, reaching a supply deal with the Netherlands to provide 3.5 million metric tons of liquefied natural gas (LNG) a year for 27 years. Two LNG sale and purchase agreements were signed between affiliates of QatarEnergy and Shell (SHEL.L), QatarEnergy…
UK and Germany See No Way Back To Energy Trade With Russia The UK and Germany do not see a way back to energy trade relationships with Russia even if there is a regime change in Moscow, British and German officials said at the Energy Intelligence Forum in London on Wednesday. “There is no way…
Eni Awards Post-Graduate Scholarship to Nigerian Graduates Eni’s subsidiary, Nigerian Agip Exploration Limited (NAE) awarded scholarships to twenty-nine Nigerian graduates for Post Graduate studies overseas as well as at Nigerian Universities under its 2023/2024 Awards Scheme. Nine of the beneficiaries will undertake postgraduate studies in various Universities in the United Kingdom and a university in…
NIMASA Receives Presidential Recognition The award for the best Federal Ministry, Department and Agency, MDA in Digital Transformation from the Presidency through the Bureau of Public Service Reforms was this weekend conferred on the Nigerian Maritime Administration and Safety Agency (NIMASA). Other recipients of the Presidential recognition include the University of Benin Teaching Hospital and…
DisCos recorded 95.21% market remittance in Q2/2023, highest so far – NERC The Nigerian Electricity Regulatory Commission (NERC) has said that in the second quarter of 2023, distribution companies (DisCos) recorded 95.21% market remittance, the highest so far in 2023. The Commission stated this in its Electricity on Demand report released today, October 17. According…
Low Natural Gas Demand Aids Europe in Increasing Inventories According to data released on Monday by the Joint Organisations Data Initiative (JODI), European demand for natural gas continued to be at or below the seasonal lows of the previous five years in August, enabling stockpiles conclude the month at or near 93% full. Europe’s gas…
Russia no longer regarded as a dependable energy supplier says U.S. Energy Official Following the imposition of further sanctions by Washington against Moscow due to its involvement in the conflict in Ukraine, U.S. Assistant Secretary for Energy Resources Geoffrey Pyatt declared on Friday that Russia would never once more be regarded as a trustworthy energy…
U.S. Considers Freezing $6 Billion to Iran after the Hamas Attack on Israel The $6 billion for humanitarian purposes that Iran received from the United States as part of a prisoner swap last month might be re-frozen at any time in the wake of this weekend’s attack by Hamas on Israel, according to Bloomberg. In…
Navy Destroys 3m Litres Capacity Illegal Refinery Camps in Rivers The Nigerian Navy Ship, NNS Pathfinder, on Wednesday destroyed a 3million- litre capacity illegal refinery, with six refining camps in Degema Local Government Area of Rivers State. The illegal refinery camps located within Cawthorne Channel II near Bonny, steals crude oil from a wellhead in…