Fight against corruption at Nigerian Seaports boosted as FG approves N180m for PSTT The Federal Ministry of Transportation says N180 million has been approved for the Port Standing Task Team (PSTT) to fight corruption and prevent other maritime crimes across the nation’s seaports. The Permanent Secretary of the Ministry, Dr. Magdalene Ajani, said this at…
Africa Must lend its Voice towards a Secure and Just Energy Transition – AVEVA Select AVEVA is a Global leader in industrial software , driving industrial transformation with the aid of artificial intelligence and human insight, through its partner AVEVA Select West Africa, has stated that the voice of Africa and other developing countries must…
African countries must join forces to diversify energy mix through AfCFTA- Kyari Mr Mele Kyari, the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), has called on African countries to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA). Kyari said this would help to diversify their energy…
IEA Highlights the need for oil and gas industry to cut emissions from its operations A new IEA report released today examines the immediate steps the oil and gas industry needs to take to significantly reduce its emissions footprint and help move the world closer to meeting its international energy and climate goals. The new…
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…