Use Fuel Subsidy’s $800m Palliative For Healthcare, Education – Dagogo A Member of the House of Representatives from Rivers State, Hon. Farah Dagogo, has tasked the Federal Government to jettison the planned $800 million cash transfers to about 50 million Nigerians that would serve as cushion for fuel subsidy removal. The Minister of Finance, Budget…
NNPC says it will be vindicated over allegation of N20bn Payment to Ghost Consultants The Nigerian National Petroleum Company (NNPC) Ltd has assured that the investigation by the House of Representatives into the alleged payment of N20bn to so-called ghost consultants will exonerate the National Oil Company. It said this in a statement issued and…
Energy Security: Is the World Aligning with OPEC? By Ikenna Omeje The Organisation of the Petroleum Countries (OPEC), before now, has been a lone voice against energy transition without fossil fuels. OPEC has been advocating for a multilateral approach to net-zero, noting that with the increasing global population, fossil fuels have a place in energy…
Bonga, Nigeria’s first deep-water exploration and production vessel, on Monday, February 13, 2023, hit a 1-billion-barrel oil export mark. By Ikenna Omeje This milestone comes three months after a major turnaround maintenance (TAM) of the facility was completed ahead of schedule, according to a statement by the Media Relations Manager, Abimbola Essien-Nelson. The Managing Director, Shell…
Court Vacates the Interim Court Orders against Seplat Energy CEO Seplat Energy has announced that, the Federal High Court sitting in Lagos, vacated the ex parte Interim Orders against Seplat, its CEO and its Board Chairman, including the orders that restrained the Chief Executive Officer, Mr. Roger Brown from participating in the running of the…
NIPCO Targets Gas Powered Economy for Nigeria NIPCO Gas Ltd, a fully owned subsidiary of NIPCO Plc, is one of the companies at the forefront in the drive towards a Gas Powered Economy for Nigeria by 2030. This is evident in its recent projects aimed at making gas more accessible and affordable. NIPCO Gas believes…
CVFF will be disbursed before May 29 – Minister The Minister of State for Transportation, Ademola Adegoroye, has assured Nigerian shipowners that the Federal Government will disburse money accrued under the Cabotage Vessel Financing Fund (CVFF) to them before the end of the current administration on May 29. Speaking at the maiden Annual Lecture of…
PCTS will Remain Contributing Partner to Nigeria’s Progress in Oil and Gas Industry – Chairman The Chairman of the Petroleum Contractors Trade Section, PCTS, (a subgroup of the Lagos Chamber of Commerce and Industry, LCCI), Tayo Akinkunmi, has said that the association will remain a contributing partner to Nigeria’s progress in the oil and gas industry. Akinkunmi…
U.S. and EU Pledge to Combat any Attempts to Disrupt Global Energy Markets In response to Russia’s threats to global energy security, the United States and the European Union are strongly committed to combat attempts at energy market disruptions, the two sides said recently after a meeting of top American and EU officials in Brussels….
Putin Approves $1.2 Billion Payment to Shell for Sakhalin-2 Exit Russian President Vladimir Putin has approved a request by Novatek to allow Shell to receive $1.2 billion (94.8 billion rubles) from the Russian gas producer for its 27.5% stake in the Sakhalin-2 LNG project, Russian daily Kommersant reported, quoting sources with knowledge of the matter….