Federal Government Commits to Enhancing Onne Seaport Efficiency and Safety In a recent development, the Federal Government has reiterated its dedication to enhancing the efficiencies and maximizing the capacity utilization of the Onne seaport, emphasizing its commitment to boosting vessel traffic to Eastern ports. This affirmation came from the Minister of Marine and Blue Economy,…
Zenith Bank Names Dr. Adaora Umeoji as First Female CEO In a historic move, Zenith Bank Plc has announced the appointment of Dame (Dr.) Adaora Umeoji as its new Group Managing Director (GMD) and Chief Executive Officer (CEO), marking a significant milestone as she becomes the first female to hold this position in the esteemed…
US Oil Output to Exceed 14 Million Bpd and then Plateau. U.S. oil production will grow to exceed 14 million barrels per day and then plateau, ConocoPhillips CEO Ryan Lance forecast on Tuesday. Output in the top U.S. shale field, the Permian basin of West Texas and New Mexico, will rise between 300,000 bpd and…
Marine and Blue Economy Ministry Aims to Boost Eastern Port Traffic with Infrastructure Upgrades. The Ministry of Marine and Blue Economy has announced plans to ramp up vessel traffic to the Eastern ports through strategic infrastructure investments and policy initiatives. This move is part of the ministry’s efforts to achieve key performance indicators (KPIs) outlined…
Savannah Signs Share Purchase Agreements to Acquire a 49% Participating Interest in Stubb Creek Field, Nigeria. Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter, announces that it has signed separate Share Purchase Agreements (“SPAs”) with Sinopec International Petroleum Exploration and Production Corporation (“SIPC”) and Jagal Ventures Limited…
NGA Applauds Nigeria’s Gas Investment Policies for Promoting Sustainable Energy Future. The Nigerian Gas Association (NGA) has expressed its deep appreciation to the Federal Government for recently gazetting three crucial policy directives aimed at unlocking investments in the oil and gas sector. These directives, which cover fiscal incentives for non-associated gas, midstream, and deepwater developments,…
Global Oil Demand Expected to Rise by 6% by 2028, Reaching 105.7 Million Barrels per Day. The International Energy Agency (IEA) forecasts a significant increase in global oil demand, projecting a 6% rise by 2028 to reach 105.7 million barrels per day (mb/d). This surge is attributed to robust demand from sectors such as petrochemicals…
Saudi Aramco CEO Dismisses Global Push for Renewable Energy Transition as Unrealistic. The aspiration of the global community to shift from fossil fuels to cleaner energy sources has been labeled as unrealistic by the Chief Executive Officer of Saudi Aramco, Amin Nasser. Nasser made these remarks on Monday during the 2024 edition of CERAWeek by…
EKEDC Enhances Power Supply with Nigeria’s First 2×20 MVA Substations in Surulere. In a groundbreaking development for Nigeria’s power sector, the Lagos State Governor, Mr. Babajide Sanwo-Olu, has inaugurated two 20 MVA injection substations at Randle Mechanic Village, Surulere, Lagos, operated under the Eko Electricity Distribution Company (EKEDC) franchise. These projects mark a significant stride…
Industry chiefs at NIES 2024.
