Baker Hughes Awarded Contract for Saudi Aramco’s Gas Network Expansion Oilfield services provider Baker Hughes has announced its successful bid for a contract to supply equipment for the third phase of Saudi Aramco’s gas network expansion project in Saudi Arabia. The contract involves the provision of 17 pipeline centrifugal compressors, a crucial step in bolstering…
Stakeholders Urge Inclusive Approach to Energy Transition at National Dialogue. Stakeholders gathered at the National Dialogue on Energy Transition Plan in Port Harcourt have called upon the federal government to ensure the active involvement of communities, local, and state governments in its energy transition initiatives. The event, organized by several foundations and advocacy groups, with…
Dangote Petroleum Refinery Further Reduces Diesel and Aviation Fuel Prices, Now at N940 and N980 Respectively. In a bid to provide relief amid economic challenges, Dangote Petroleum Refinery has announced yet another significant reduction in the prices of diesel and aviation fuel. Effective immediately, customers purchasing five million litres and above will benefit from a…
NERC Appeals for Legislative Support to Unbundle TCN Amidst Nigeria’s Energy Crisis. Amidst Nigeria’s persistent energy crisis, the National Electricity Regulatory Commission (NERC) has called upon the National Assembly to enact legislation aimed at unbundling the Transmission Company of Nigeria (TCN). This appeal, made by NERC Chairman Sanusi Garba during an oversight visit by the…
NERC transfers regulatory control of Ekiti Electricity to State-Level Commission. In a significant development for Nigeria’s power sector, the Nigerian Electricity Regulatory Commission (NERC) has announced the official transfer of oversight of Ekiti State’s electricity market to the Ekiti State Electricity Regulatory Bureau (EERB). This move, set to take effect on May 1, 2024, marks…
Ibiyemi honoured with Posthumous award for contributions to energy sector. The Founding Publisher of Nigerian NewsDirect, Late Dr Samuel Ibiyemi has been honoured with a Posthumous award for his contributions to the Energy sector at the maiden edition of the Energy Times award ceremony in Lagos. The late Dr Samuel Ibiyemi was bestowed with the…
Nigeria Unveils New Fiscal Incentives to Revitalize Oil and Gas Sector. In a bid to rejuvenate Nigeria’s oil and gas industry, the federal government has launched a new set of fiscal incentives aimed at attracting significant investment and boosting production. Led by the Special Adviser to the President on Energy, Mrs. Olu Verheijen, the initiative…
IMO Secretary General Urges Action on Unfair Treatment of Seafarers. In a recent address to the International Maritime Organisation (IMO) Legal Committee meeting, Secretary General Arsenio Dominguez expressed deep concern over the growing cases of unfair treatment faced by seafarers worldwide. Dominguez highlighted the need for immediate action to address these alarming trends, emphasizing the…
Oil Prices Surge to Six-Month High Amid Geopolitical Tensions: Implications for Global Economy. The price of oil has skyrocketed to a six-month high, with Brent crude futures hitting $92.10 per barrel, marking a 13.4% surge since the beginning of 2024. This significant increase is driven by a combination of factors, including escalating geopolitical tensions in…
Minister Highlights Need for Increased Investments in Nigeria’s Inland Waterways. The Minister for Marine and Blue Economy, Adegboyega Oyetola, has underscored the necessity for enhanced investments in Nigeria’s inland waterways to unlock their vast potential. Speaking at a Maritime Business Roundtable Breakfast Meeting organized by Zoe Maritime Resources, Oyetola emphasized that inadequate investments and lax…
