No Additional Cost From Cargo Tracking Note – NSC The Nigerian Shippers’ Council has assured manufacturers and shippers that there would be no additional cost borne from the Electronic Cargo Tracking Note (ECTN). This is even as it stressed that the ECTN will address issues of insecurity, oil theft amongst others. This assurance was made…
Nigeria produces 115m barrels, 75% of budget benchmark in Q1 amid struggling oil output Amid Nigeria’s crude oil production struggle, the country managed to drill 115 million barrels of the commodity in the first quarter of 2023, a review of industry data has shown. In all the country’s output was 39 million barrels in…
Indonesia’s Pertamina Q1 Crude Oil Production at 575,000 bpd Crude oil production by Indonesia’s state energy company Pertamina in January to March was 575,000 barrels of oil per day (bpd), 2% above target, the head of its upstream subsidiary told parliament at the beginning of the week. The output includes 151,000 bpd production from its…
Wind, Solar generate record 12% of global electricity in 2022 Wind and solar reached a record 12 percent share of global electricity generation last year, up from 10 percent in 2021, according to the latest Global Electricity Review released Wednesday by independent energy think-tank Ember. The growing electricity generation from wind and solar is forecast…
$2.4bn oil probe not witch-hunting – Gbajabiamila The 2.4 bilion dollars revenue probe over alleged illegal sale of 48 million barrels of crude oil export from 2014-2015 is not a witchhunt, says Mr Femi Gbajabiamila, Speaker of the House of Representatives. Gbajabiamila made the clarification at plenary on Tuesday in Abuja, during the House of…
Turkey discovers natural gas worth over $500bn in the Black Sea Turkey has found natural gas worth more than $500bn in the Black Sea, says Fatih Dönmez, the country’s energy and natural resource minister. The total volume of reserves found in the Black Sea are 710 billion cubic meters, one of the largest ever found…
Nigeria returns to coal exploration despite 2060 carbon emissions pledge Despite its net-zero carbon emissions pledge by 2060, the federal government has signaled the return of coal mining in the country, with the putting up for sale of five coal blocks in Enugu. In an invitation for expressions of interest for the public bidding of…
Africa’s Green Economy Summit and Formula E Provides Green Invasion of the Continent “We are back in 2024, aligned to the Formula E and E-Fest again” The hugely successful Africa’s Green Economy Summit held in February during the E-Fest in Cape Town, culminating in the sold-out Formula E championship race attended by more than…
NNPC Limited Refute Claims of Missing N20bn and theft of Multi-billion Naira Tax The Nigerian National Petroleum Corporation Limited has refuted a report by online news platform, Sahara Reports alleging the payment of the sum of N20bn to ghost consultants and Theft of multi-billion Naira tax due to the Ogun State Government. In a press…
Nigeria sets sights on developing carbon markets, government working on carbon tax Nigeria’s plans to scale up its carbon markets are starting to take shape, with the government looking to introduce a carbon tax policy and increase participation in the voluntary space. This is according to a recent report by S&P Global Inc (SPGI), a…
