Cybersecurity; The New Normal A total of $706,452 has been paid in ransom to cybercriminals by Nigerian businesses, According to Sophos, in “The State of Ransomware 2022 report”. Industrial Control Safety Systems (ICSS) in Critical infrastructure are increasingly exposed to cyber-attacks because of the digitisation drive of the industry. As supervisory control and data acquisition…
U.S. To Receive 3 Million Barrels Of Venezuelan Crude Oil In February The United States is on track to receive nearly 3 million barrels of crude oil from Venezuela this month, according to shipping documents seen by Reuters. Chevron is on track to ship 100,000 barrels of Venezuelan crude oil per day into the United…
Europe’s Thirst for U.S. Crude to Stay High in 2023 Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp stated this on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident…
NNPC Ltd. Spends over N400bn on Fuel Subsidy Monthly – Kyari The Nigerian National Petroleum Company Limited, NNPCL, says the amount of money now spent on fuel subsidy has risen to over N400 billion monthly. Its Group Chief Executive Officer, GCEO, Mele Kyari, stated this at the company’s head-office in Abuja during the Final Cutover…
NNPC Ltd. to Commence Drilling of the First Oil Well in Obi/Keana Nasarawa State in March The NNPC Ltd. will begin the drilling of the first oil well in Obi/Keana Nasarawa State on March 21. This was disclosed by the Chief Executive Officer of NNPC Ltd. Malam Mele Kyari, when he led Management of the…
Nigeria Needs $800m to Rehabilitate Four Major Ports – Bello-Koko The Managing Director/CEO of Nigerian Ports Authority (NPA), Mohammed Bello Koko has said that Nigeria will need $800 million loan facility for the rehabilitation of four ports in the country. The ports are Tin Can Island Port, Apapa Port in Lagos, Onne Port in Rivers…
Egypt to hold Three Int’l Tenders for Oil, Gas Exploration in 2023 – Tarek El-Molla Egypt’s Petroleum and Mineral Resources Minister, Tarek El-Molla has said that four international tenders in the excavation domain were launched through “Egypt Upstream Gateway” in 2022 and three other ones will be floated this year. El-Molla noted that the petroleum…
GE to Deliver 500MW on National Grid by Q2 World Energy Leader, GE Gas Power plans to invest in a power project that would deliver close to 500 megawatts (MW) of additional power into Nigeria’s national electricity grid by the second quarter of this year. The energy firm, which focuses on providing equipment, solutions and…
NMDPRA Expands Database to Cover Crude Oil Inventory The Federal Government has announced plans to establish a reliable database to determine the appropriate tariff methodology for the country’s transportation and bulk storage of crude oil and natural gas. The Authority Chief Executive (ACE) of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Mr Farouk Ahmed,…
Nigeria has 46 of the 240 Free Trade Zones in Africa – Adesugba The Federal Government has disclosed that Nigeria boasts of 46 of the 240 Free Trade Zones (FTZ) in Africa, citing that the number could increase further as more states apply for FTZ licenses. This was made known by Prof. Adesoji Adesugba, the…
