Oil prices inch higher amid attacks on Russian energy facilities. Oil prices climbed about 2% to a four-month high on Monday on lower crude exports from Iraq and Saudi Arabia and signs of stronger demand and economic growth in China and the U.S. Brent futures rose $1.55, or 1.8%, to settle at $86.89 a barrel,…
Axxela Achieves Gold Status in Sustainability Ranking, Demonstrating Firm’s Environmental Dedication Axxela, a prominent player in the sub-Saharan African gas and power industry, has attained a remarkable accomplishment in its sustainability endeavors by earning a Gold Medal in the highly esteemed EcoVadis Sustainability Rating for 2024. This recognition reaffirms Axxela’s steadfast dedication to promoting environmental…
NCDMB Praises Tinubu Oil Sector’s Executive Orders for Strengthening NOGICD Act and SLA The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Felix Omatsola Ogbe, commended President Bola Ahmed Tinubu, GCFR, for introducing three Presidential Executive Orders aimed at incentivizing the Nigerian oil and gas industry. These orders encourage new investments,…
NLNG MD Believes FG’s Executive Order on Oil and Gas will Stimulate Gas Investments The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Dr. Philip Mshelbila, has expressed confidence in the recent Executive Order on Oil and Gas Reforms signed by President Bola Ahmed Tinubu (GCFR), stating that it will significantly…
Nigerian Oil Minister Lokpobiri Joins African Energy Week (AEW) 2024 as Reforms Strengthen the O&G Market Scheduled for November 4-8, African Energy Week: Invest in African Energy offers strategic insight into Africa’s largest oil and gas markets. Nigeria’s Minister of State for Petroleum Resources (Oil) Heineken Lokpobiri will speak at Africa’s premier event for the…
Crude Oil Theft Limiting Investments In Nigeria’s Oil & Gas Sector, Kyari Tells EFCC Chairman The Nigerian National Petroleum Company Limited has said the menace of crude oil theft in the Niger-Delta is limiting the quantum of investments inflow into the oil and gas sector. This is just as it appealed to the Economic and…
Local Content: Matrix Energy Minimizes Carbon Footprint for Sustainable Upstream Operations – Dr. Bukola Olusola During a panel session titled “African Content and Opportunities” at the Nigeria International Energy Summit (NIES), Dr. Bukola Olusola, Managing Director of Matrix Energy Exploration and Production Company Limited, emphasized the crucial role of host communities in the operations of…
All On Finalizes $3 Million Bridge Round Investment with Arnergy to Enhance Renewable Energy Access in Nigeria All On, a leading Nigerian impact investment company recently announced a strategic $3 million bridge round investment in Arnergy, a market leader in distributed renewable energy products and solutions. This infusion of capital by All On, one of…
IPPG Strongly Endorses President Tinubu’s Executive Orders Regarding the Nigerian Oil and Gas Industry The Independent Petroleum Producers Group (IPPG) wholeheartedly endorses the recent Executive Orders signed by President Bola Ahmed Tinubu GCFR, aimed at revitalizing investment in Nigeria’s oil and gas sector and positioning the nation as Africa’s premier investment destination within the energy…
Electricity Distributors Report Nigeria Government Owes N100 Billion in Electricity Bill Debt The Executive Director of the Association of Nigerian Electricity Distributors, Sunday Oduntan, has revealed that the Nigerian government owes about N100 billion in electricity outstanding debt. Oduntan made this disclosure in an interview with Arise TV on Sunday, adding that the government needs…
