Africa should target symbiotic investors with upstream-focused business model to revive Industry – Ogbue

Africa should target symbiotic investors with upstream-focused business model to revive Industry – Ogbue

ByJerome Onoja Okojokwu-Idu

Africa should target symbiotic investors with upstream-focused business model to revive Industry – Ogbue Industry advocacy groups like OPTS could facilitate push of harmonized set of standards for ESG goals across continent. To attract investments, Africa should stay ahead of global average on percentage of CAPEX for ESG-compliant projects. Industry stakeholders across the continent gathered…

US fumes as OPEC+ slashes output by 2m barrels, analysts question motive

US fumes as OPEC+ slashes output by 2m barrels, analysts question motive

ByJerome Onoja Okojokwu-Idu

US fumes as OPEC+ slashes output by 2m barrels, analysts question motive The Organisation of Petroleum Exporting Countries and its allies have recently agreed to a drastic two million barrel per day reduction in oil output with authorities in the United States of America kicking against the decision. The cartel, also known as OPEC+ arrived…

NCDMB Begins Customer Service Week in Grand Style

NCDMB Begins Customer Service Week in Grand Style

ByJerome Onoja Okojokwu-Idu

NCDMB Begins Customer Service Week in Grand Style Delivering effective service to stakeholders of the Nigerian oil and gas industry is a key objective under the implementation of the Nigerian Content 10-year strategic roadmap, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has said. He stated this on Thursday,…

Geregu Power Adds N250 Billion to NGX Market Capitalization

Geregu Power Adds N250 Billion to NGX Market Capitalization

ByJerome Onoja Okojokwu-Idu

Geregu Power Adds N250 Billion to NGX Market Capitalization The listing by introduction of Geregu Power Plc on the Main Board of The Nigerian Exchange Limited (NGX), today, added N250 billion to the market capitalization of the Exchange. NGX said in a statement that the listing has further boosted liquidity in the Nigerian capital market…

Seplat Energy’s Transition Priorities Excite Global Stakeholders

Seplat Energy’s Transition Priorities Excite Global Stakeholders

ByJerome Onoja Okojokwu-Idu

Seplat Energy’s Transition Priorities Excite Global Stakeholders Seplat Energy Plc, leading Nigerian energy company listed on the Nigerian Exchange and the London Stock Exchange, says that its energy transition priorities remain to end flaring, monetise gas, displace diesel and biomass with cleaner fuel, extend along power value chain and target smaller scale gas-to-power customers. Roger…

Lawan says Oil thieves are Enemies of Nigeria

Lawan says Oil thieves are Enemies of Nigeria

ByJerome Onoja Okojokwu-Idu

Lawan says Oil thieves are Enemies of Nigeria Ahmad Lawan, Senate President, has bemoaned and described perpetrators of oil theft in Nigeria as enemies of the state. The lawmaker said this on Friday during the presentation of the 2023 budget proposal at the National Assembly. “Mr. President, I consider the oil thieves the worst enemies…

Oil Heads for Weekly Gain after OPEC+ Cut

Oil Heads for Weekly Gain after OPEC+ Cut

ByJerome Onoja Okojokwu-Idu

Oil Heads for Weekly Gain after OPEC+ Cut Oil rose about 1% on Friday and was headed for a second consecutive weekly gain supported by OPEC+’s decision to make its largest supply cut since 2020 despite concern about recession and rising interest rates. The cut from the Organization of Petroleum Exporting Countries and allies including…

FG to add 817MWs to national grid to boost power supply –TCN

FG to add 817MWs to national grid to boost power supply –TCN

ByJerome Onoja Okojokwu-Idu

FG to add 817MWs to national grid to boost power supply –TCN The Federal Government says plans are ongoing to add  additional 817 Megawatts (MWs) of electricity to the national grid to boost power supply witin the FCT and its  environs. Mr Sule Abdulaziz,  the Managing Director of Transmission Company of Nigeria (TCN), said this…

OPEC Daily Basket Price Stood at $90.68 a Barrel Monday

OPEC Daily Basket Price Stood at $90.68 a Barrel Monday

ByJerome Onoja Okojokwu-Idu

OPEC Daily Basket Price Stood at $90.68 a Barrel Monday The price of OPEC basket of 13 crudes stood at $90.68 a barrel on Monday, September 3, 2022, compared with $92.34 the previous Friday, according to OPEC Secretariat calculations.   The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend…