Tinubu signs Electricity Act 2023 into Law Barely ten days after his inauguration, President Bola Ahmed Tinubu has assented to the Electricity Act 2023. The Electricity Act will replace the Electricity and Power Sector Reform Act 2005. It is expected to provide a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry…
Nigerian Crude Takes New Hit As Buyers Turn to Cheaper Russian Grade Traders are flocking to the Urals crude blend because they see the Nigerian grades as relatively pricey, with traders reluctant to offload the country’s cargoes. Nigerian crude grades are failing to attract buyers from Europe, China and India as traders, to cut cost,…
ExxonMobil appoints Adesua Dozie Vice-Chairman of Nigerian Affiliates ExxonMobil affiliates in Nigeria – Mobil Producing Nigeria Unlimited (MPN) and Esso Exploration and Production Nigeria Limited (EEPNL) have announced the appointment of Adesua Dozie as Vice-Chairman of the Boards of the Companies, with effect from June 12, 2023. Until her appointment, Dozie, was an Executive Director…
Morocco leads the way in building a sustainable future Climate change has emerged as one of the most pressing global challenges of our time, posing significant threats to ecosystems, economies and human well-being. Its impacts are expected to worsen existing vulnerabilities, especially in developing countries, leading to increased poverty, food insecurity and displacement. As global…
Green Energy: NDW’s Approach to Reducing GHG Emissions The United Nations Environment Programme (UNEP) has been leading the cause of protecting our environment for decades. Major environmental protection campaigns began in the 1960s and 1970s with key international programs like the Environment Committee of the OECD and the United Nations Conference on the Human Environment…
Russia Sees Oil & Gas Tax Revenue Shed 36% in May Lower crude oil prices, Western sanctions and European push for energy independence combined to shave 36% off Russia’s oil and gas tax collection for last month, compared to a year ago, Bloomberg reports, citing the Russian Finance Ministry. Crude oil and oil products, which…
Egbin Power Plc Charts Path for Environmental Sustainability, Urges Global Concerted Efforts Deliberate actions designed to further reduce environmental pollution in line with the global agenda for sustainability has been outlined by Egbin Power Plc, the largest Power Generating station in Nigeria, to commemorate World Environment Day 2023, under the theme “Solutions to plastic pollution.”…
Saudi Output Cut Unlikely to Lift Oil Prices to High $80s-Low $90s Top crude exporter Saudi Arabia’s one million barrel per day (bpd) oil output cut is unlikely to underpin a “sustainable price increase” into the high $80s-low $90s with weak fundamentals pointing to lower prices by year-end, Citi analysts said in a note on…
Shell to exit European home retail energy businesses Shell has said that it had decided to exit its home retail energy businesses in Britain, Germany and the Netherlands due to their poor returns. Shell launched a strategic review of its European retail businesses in January, citing “tough market conditions”, shortly after CEO Wael Sawan took…
Subsidy: NLC shuns FG meeting, electricity workers back strike The Nigeria Labour Congress on Sunday shunned a meeting called by the Federal Government to discuss the subsidy removal and the attendant hike in fuel pump prices across the country. The union insisted that it would not hold any dialogue with the government representatives unless a…
