Nigeria takes a stand on Gas Utilisation Nigeria will continue to explore the resource to meet its energy security, despite the push by climate activists and developed countries to displace fossil fuel, including natural gas for renewable energies. Stakeholders, including Vice President Yemi Osinbajo and Group Executive Officer of the Nigerian National Petroleum Company Limited,…
Nigeria To Explore Alternative Funding Model For Oil And Gas Industry The Nigerian Upstream Downstream Regulatory Commission, NUPRC says the Nigerian Government has concluded plans to explore alternative funding models for development of the country’s oil and gas resources. The Commission Chief Executive of NUPRC, Mr Gbenga Komolafe said this on Monday during the opening…
Chevron Beats Profit Estimates As Refining Margins Jump Despite a drop in oil and gas prices, Chevron Corporation (NYSE: CVX) beat analyst expectations in its first-quarter earnings, which rose on the back of higher margins on refined product sales. Chevron on Friday reported earnings of $6.6 billion, or $3.46 per diluted share, for the first…
TCN Suspends Kano Electricity and others for breaching market rules The Transmission Company of Nigeria has announced the suspension of three electricity distribution companies for breach of market rules. The affected companies are APLE Electric Limited, Kano and Kaduna Electricity Distribution Companies. Mrs Ndidi Mbah, TCN’s General Manager, Public Affairs, in a statement in Abuja…
IMO Working Towards Regulatory Framework for Autonomous Shipping The International Maritime Organization (IMO) continues its work to develop a regulatory framework for autonomous ships in response to rapidly evolving technology. The Joint MSC-LEG-FAL Working Group on Maritime Autonomous Surface Ships (MASS) held its second session last week at the IMO Headquarters in London. The event…
ExxonMobil earns $11.4 billion in first quarter of 2023 Leading energy company, Exxon Mobil Corporation today announced that it earned $11.4 billion which is $2.79 per share assuming dilution in its first-quarter 2023 report. The company disclosed this in a recent press release on its official website, stating also that the earnings demonstrate structural earnings…
Tanzania Inches Closer to Long-Held Power Dream Tanzania’s long-standing endeavour to have adequate and reliable electricity supply through the 2,115-megawatt Julius Nyerere Hydropower Project (JNHPP) is close to becoming a reality with the dam’s construction reaching 86 percent of completion. This is a huge step towards the completion of the mammoth project, whose completion will…
NNPC, Norway’s Golar sign MoU on floating gas plant Mele Kyari, chief executive of Nigerian National Petroleum Corporation and Norway’s Golar CEO Karl Fredrik Staubo sign a memorandum of understanding in Abuja, Nigeria, April 26, 2023 [Courtesy: NNPC via Twitter] Nigeria’s state oil firm, NNPC has signed a memorandum of understanding (MoU) with Golar LNG…
TotalEnergies Power 250 Filling Stations with Solar TotalEnergies has said 50 percent of its more than 500 filling stations scattered across the country run on solar energy. The Deputy Manager of Deepwater, TotalEnergies E&P, Victor Bandele, revealed this at the just concluded Nigerian International Energy Summit held in Abuja. Speaking during a session themed ‘Building…
NMDPRA urges petroleum operators to comply with regulatory laws The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Mr Farouk Ahmed, has urged petroleum products dealers to operate within the regulatory space. Ahmed said this on Wednesday at a stakeholders engagement on Gas Utilisation in Nigeria held in Enugu, Nigeria. The…
