China’s Oil Imports Hit New Highs, Output Soars China is importing oil at near-record levels while its domestic product has also increased. China’s oil imports in June jumped 45.3 percent on the year to the second-highest monthly figure on record, with refiners building up inventories despite weak domestic demand. Oil imports in June totaled 12.67…
IPMAN Reacts as Fuel Price Hits N620/Litre in Port Harcourt The pump price of the Premium Motor Spirit, PMS commonly known as petrol, has hit N620 per litre in Port Harcourt following the increment in ex-depot price by NNPC Ltd. on Tuesday. There was no scarcity of the product, most fuel stations in Port Harcourt,…
NOG Energy Week Conference and Exhibition: NNPCL Reaffirms Commitment to Issuing IPOs to Investors The Nigerian National Petroleum Company Limited (NNPCL) has reaffirmed its commitment to issuing Initial Public Offers (IPO) to investors. The company’s CEO, Mele Kyari gave the assurance at the 22nd edition of the 2023 NOG Energy Week Conference and Exhibition in…
NOG Energy Week Conference and Exhibition: Stakeholders Call For Subsidies to Boost Nigeria’s Manufacturing Sector Manufacturing stakeholders attending the NOG Energy Week Conference and Exhibition in Abuja have put forward a proposal advocating for subsidies to be provided to manufacturers in the country. They assert that subsidizing the manufacturing sector will lead to reduced operational…
Federal Government, States to Partner on Electricity Following the new law decentralising electricity, the Federal Government has expressed willingness to partner with states on power generation. The Fifth Alteration Bill No. 33 (Devolution of Powers) allows states to generate, transmit and distribute electricity in areas covered by the national grid. Commissioner, Legal, Licensing and Compliance,…
Norway Makes Biggest Hydrocarbon Discovery In 10 Years Norwegian oil and gas operator, DNO ASA, has made a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea. Preliminary evaluation of comprehensive data indicates gross recoverable resources in the range of 120-230 , making millionCarmen ranks as the largest discovery on…
Energy Evolution is driven by hydrocarbon and renewables In her welcome speech at the 16th Nigerian Association for Energy Economics (NAEE), held in Abuja, President of the association, Professor Yinka Omorogbe (SAN), said the topic was apt in line with energy evolution and transition. The topic of the conference is Energy Evolution, Transition and Reform: Prospects for African…
Samsung Heavy Industries Completes 1,500km Autonomous Voyage South Korean shipbuilder Samsung Heavy Industries (SHI) has successfully tested its autonomous navigation technology on board a 15,000 TEU containership. The autonomous voyage covered a distance of approximately 1,500km from Jeju Island, South Korea to Kaohsiung Port in Taiwan, across the East China Sea and parts of the…
Nigeria’s Petrol Use Down 28% After Subsidy Scrapped – Regulator Nigeria’s average daily petrol consumption has fallen by 28% since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator shows. Average daily petrol consumption fell to 48.43 million litres in June, down…
DisCos intensify efforts for electricity tariffs hike approval There is no respite yet for electricity consumers with Distribution Companies (DisCos) still pushing ahead with their bid for Federal Government’s approval to raise the tariffs. Last week, the National Electricity Regulatory Commission (NERC) halted the 40 per cent tariff hike planned by the DisCos following…
