Author: majorwavesen

OIL AND GAS | INFRASTRUCTURE

Nigerian Government Offers 26 Oil Blocks for Acquisition Amidst Shell, ExxonMobil, and Other IOCs’ Divestment Plans
Bymajorwavesen May 7, 2024

Nigerian Government Offers 26 Oil Blocks for Acquisition Amidst Shell, ExxonMobil, and Other IOCs’ Divestment Plans In a significant development, the Nigerian Government has unveiled plans for the acquisition of 26 oil blocks by local firms, as several International Oil Companies (IOCs) initiate divestment strategies. The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) revealed that IOCs…

Read More Nigerian Government Offers 26 Oil Blocks for Acquisition Amidst Shell, ExxonMobil, and Other IOCs’ Divestment Plans
OIL AND GAS

OPEC+ Contemplates Extending Oil Production Cuts into June Meeting
Bymajorwavesen May 7, 2024

OPEC+ Contemplates Extending Oil Production Cuts into June Meeting The upcoming OPEC+ meeting in June looms with the critical decision of whether to extend oil production cuts into the latter half of the year taking center stage. However, beyond this immediate concern, the alliance confronts the broader challenge of managing production capacity in the long…

Read More OPEC+ Contemplates Extending Oil Production Cuts into June Meeting
POWER

NERC Unbundles TCN: New System Operator Assumes Transmission Function
Bymajorwavesen May 7, 2024

NERC Unbundles TCN: New System Operator Assumes Transmission Function In a significant stride toward revamping Nigeria’s electricity sector, the Nigerian Electricity Regulatory Commission (NERC) has executed the unbundling of the Transmission Company of Nigeria (TCN), ushering in the Nigerian Independent System Operator of Nigeria Limited (NISO). This pivotal move stems from the federal government’s pronouncement…

Read More NERC Unbundles TCN: New System Operator Assumes Transmission Function
POWER

Ikeja Electric Celebrates May Day with Awards for Excellence and Infrastructure Investments
Bymajorwavesen May 7, 2024

Ikeja Electric Celebrates May Day with Awards for Excellence and Infrastructure Investments Ikeja Electric Plc (IE), Nigeria’s leading electricity distribution company, reaffirmed its dedication to enhancing network infrastructure to ensure efficient service delivery, as it celebrated International Workers Day. In a statement by Mr. Kingsley Okotie, Head of Corporate Communications, IE expressed gratitude to its…

Read More Ikeja Electric Celebrates May Day with Awards for Excellence and Infrastructure Investments
OIL AND GAS | NEWS

Shell Surpasses Expectations with $7.7 Billion Q1, 2024 Financial Performance
Bymajorwavesen May 4, 2024

Shell Surpasses Expectations with $7.7 Billion Q1, 2024 Financial Performance Oil giant Shell has outperformed analyst predictions, reporting earnings of $7.7 billion in the first quarter of 2024. This figure exceeded adjusted earnings expectations of approximately $6.46 billion, attributed to robust oil trading activities and higher refining margins. The company intends to bolster its share…

Read More Shell Surpasses Expectations with $7.7 Billion Q1, 2024 Financial Performance
OIL AND GAS

House of Representatives Committee on Petroleum Reassures Nigerians on Fuel Queues
Bymajorwavesen May 4, 2024

House of Representatives Committee on Petroleum Reassures Nigerians on Fuel Queues The House of Representatives Committee on Petroleum Resources (Downstream and Midstream) has addressed the recent fuel queues across Nigeria, aiming to calm public concerns. Key Points: Fuel Availability: The Committee assures Nigerians that there is sufficient petrol in storage facilities, with over 1.5 billion…

Read More House of Representatives Committee on Petroleum Reassures Nigerians on Fuel Queues
NEWS | OIL AND GAS

Ethnic Youth Leaders Praise Kyari and NNPCL for Addressing Fuel Shortages
Bymajorwavesen May 4, 2024

Ethnic Youth Leaders Praise Kyari and NNPCL for Addressing Fuel Shortages The Ethnic Youth Leaders have expressed their appreciation for the efforts of Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), and Adedapo Segun, the Executive Vice President, Downstream, in tackling the recent fuel supply disruption. In a…

Read More Ethnic Youth Leaders Praise Kyari and NNPCL for Addressing Fuel Shortages
OIL AND GAS | INFRASTRUCTURE

Dangote Refinery to Receive Licence Soon, Says NMDPRA
Bymajorwavesen May 4, 2024

Dangote Refinery to Receive Licence Soon, Says NMDPRA The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced that the 650,000 barrels per day Dangote Petroleum Refinery is nearing completion and will soon be issued a license to operate. This news was revealed during a “Stakeholders’ Consultation Forum on Midstream and Petroleum Host Community…

Read More Dangote Refinery to Receive Licence Soon, Says NMDPRA
NEWS

DRC Mining Week Focuses on Sustainability Win-Win for Mining Houses and Local Communities
Bymajorwavesen May 4, 2024

DRC Mining Week Focuses on Sustainability Win-Win for Mining Houses and Local Communities …Annual flagship event to host 8000+ mining professionals in Lubumbashi DRC Mining Week returns to Lubumbashi in the heart of the Copperbelt in June with a bold, comprehensive and dedicated programme focusing on “Prioritising sustainable mining operations and local transformation in the DRC.”…

Read More DRC Mining Week Focuses on Sustainability Win-Win for Mining Houses and Local Communities
OIL AND GAS

NUPRC Outlines Requirements for Potential Investors in SPDC Assets
Bymajorwavesen May 4, 2024

Nigerian Regulatory Body Outlines Requirements for Potential Investors in SPDC Assets In a significant development for Nigeria’s oil and gas sector, the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has unveiled the conditions prospective investors must meet to participate in the divestment of Shell Petroleum Development Company of Nigeria Limited (SPDC) assets. During a gathering in…

Read More NUPRC Outlines Requirements for Potential Investors in SPDC Assets