Fencing of Tincan Port to enforce Automated Access Control Gate Usage – NPA The Nigerian Ports Authority (NPA) has said that the concrete fencing of Tincan Port would help enforce the usage of the automated access control gate. Mr Mohammed Bello-Koko, Managing Director, NPA, said this during a tour of the Tincan Port in Lagos,…
Oil & Gas Industry Overall Contract Value Increased in 2022 The roller coaster ride during the COVID-19 pandemic appears to be coming to an end, with contract activity returning to normal for the global oil and gas industry, despite the ongoing Russia-Ukraine conflict and volatility in crude oil prices. As a result, the oil and…
OPEC Output Raises in February OPEC oil output rose in February led by a further recovery in Nigerian supply, despite strong adherence by top producers to an agreement by the wider OPEC+ alliance to cut production to support the market. According to a survey by the Organisation of the Petroleum Exporting Countries, OPEC, has pumped…
Maiduguri Power Plant, Giant Step towards achieving Gas, Power Mandate – NNPCL The Nigerian National Petroleum Company Limited (NNPCL) says the Maiduguri Emergency Power Plant (MEPP) project is a giant step towards achieving its gas and power mandate to add 50MW into the national grid generation. Malam Mele Kyari, Group Chief Executive Officer (GCEO), NNPCL,…
EIB and Kenya Strengthen Green Hydrogen Cooperation The world’s largest multilateral bank and leading global financier of renewable energy, the European Investment Bank, is seeking to strengthen support for green hydrogen investment in Kenya. Thomas Östros, European Investment Bank Vice President and Professor Njuguna Ndung’u, Cabinet Secretary, National Treasury and Economic Planning signed the Joint…
Where is Russian Oil Going? Two months on from the initial sanctions on Russian crude, we take a look at the impact that these restrictions have had on the Tanker markets. Additionally, we analyse the impact of the new round of sanctions on refined petroleum products that came into force on 5th February 2023. In…
ADNOC Gas Business Stake Sale Raised To 5% Abu Dhabi National Oil Co (ADNOC) will increase the stake in its gas business being offered in an initial public offering to 5% from 4%, the state oil giant says. ADNOC made the decision to increase the stake in the ADNOC Gas offering “based on significant investor…
Dangote Cement Plc Delivers N382 Billion Profit in 2022 Dangote Cement Plc has reported profit of N382 billion for the year 2022, according to the company’s financial report. In 2022, the company recorded a 4.9% improvement in profit from the N364.44 billion which the cement maker reported in the previous year. Other key indices from…
TotalEnergies acquires Cepsa’s UAE Upstream Assets French multinational integrated energy company TotalEnergies has signed an agreement with Cepsa to acquire the Spanish oil and gas company’s upstream assets in the UAE. This according to the company is in alignment with its strategy of focusing on low-cost, low emission assets TotalEnergies, in a statement said the…
National Electrification Project: World Bank Deploys 100 Solar Grids in Nigeria The World Bank says it has deployed over 100 new solar-powered mini grids in Nigeria. This is in line with its market-driven approach to mini grid development under its National Electrification Project. In a press statement, released by the World Bank, it was stated…
