Indonesia: Pertamina Plans more Biofuel Products, Ethanol Imports in 2024 Indonesian state energy company Pertamina plans in 2024 to mix more of its gasoline products with ethanol in a bid to offer alternative fuels to the public, its chief executive said on Monday. The company will mix its 90-octane gasoline, Indonesia’s most widely used fuel…
Nigeria Mining Week returns to Abuja in October, a sign of “great commitment” from Partners Dr. Mary Ogbe, Nigeria’s Permanent Secretary in the Ministries of Solid Mineral and Steel Development (formerly known as the Ministry of Mines and Steel Development) has said Nigeria Mining Week, taking place in Abuja from 16–18 October, “promises to be…
Climate Change: IMF Calls for Phase Out as Fossil-fuel Subsidies Gulp $7 Trillion in 2022 The International Monetary Fund (IMF) has said that fossil-fuel subsidies gulped $7 trillion in 2022 as governments supported consumers and businesses during the global spike in energy prices caused by Russia’s invasion of Ukraine and the economic recovery from the…
STOAN Pledges Support for Oyetola’s Effort to Harness Blue Economy The Seaport Terminal Operators Association of Nigeria (STOAN) has promised to fully support the Minister of Marine and Blue Economy, Mr. Adegboyega Oyetola, to harness the potentials of the maritime sector. The Chairman of STOAN, Princess Vicky Haastrup, who said this in a statement issued…
Iran Summons Swiss Diplomat over U.S. Seizing Oil Tanker in Texas Iran has summoned the chargé d’affaires of the Swiss Embassy in Tehran to voice its “strong objection” over the U.S. seizing an Iranian oil tanker that has been sitting for months offshore Texas, the AP reported on Monday. Since the 1979 crisis with U.S….
UK Households to Pay Lower Energy Bills in Q4 2023 UK energy markets regulator Ofgem lowered on Friday the country’s energy price cap for the fourth quarter of 2023, which means that millions of households will see their energy bills fall at the start of the upcoming heating season. The UK has a so-called Energy…
The Market Thinks There Will Be a Sanctions-Easing Deal with Iran Prospects of reviving the Iran nuclear deal have swung dramatically, from near certain in March 2022 to almost nil by the end of the year and somewhere in the middle currently. Although prospects of a deal being signed any time soon appear dim, relations…
Petroleum Minister Says Port Harcourt Refinery to be Back on Stream by December …Says FG Committed to Ending Fuel Importation The Federal Government has reiterated its commitment to ending petroleum product importation soon, as efforts are being redoubled to restore the nation’s local refining capacity. This was made known by the Minister of State for…
NCDMB Unveils 17 Innovative Energy Startups from Technology Incubation Centre The Nigerian Content Development and Monitoring Board (NCDMB) on Thursday unveiled 17 portfolio companies that have successfully concluded research- and innovation-based training at its Technology Incubation and Innovation Centre (TIIC), signalling intensification of its capacity-building initiatives that birthed its Project 100 companies a few years…
Oil and Gas Sector’s Contribution to Nigeria’s GDP Falls to 5.34% In Q2 2023 Nigeria’s oil and gas sector’s contribution to the Gross Domestic Product (GDP) diminished to a mere 5.34% in Q2/2023. This figure is lower than the corresponding period of 2022 and the preceding quarter, where it had contributed 6.33% and 6.21% respectively….
