NIES 2024 Convenes Global Energy Leaders to Address Security, Transition, and Finance Challenges The upcoming Nigeria International Energy Summit (NIES) 2024, scheduled for February 26 to March 1, 2024, at the International Conference Centre (ICC) in Abuja, Nigeria, has unveiled an impressive lineup of speakers. The summit promises to be a landmark event, bringing together…
NCDMB and Chevron Forge Partnership for Faster Oil Project Approvals and Increased Production Key Points: NCDMB vows to expedite approvals for oil and gas projects through technical working groups with companies. Collaboration and open communication prioritized to create a win-win situation and minimize conflicts. Focus on competitive production costs and attracting investments to boost national…
Ekpo Lauds NNPC/SPDC JV Partners for Final Investment Decision on Iseni Gas Project The Minister of State Petroleum Resources (Gas), Ekperikpe Ekpo, has expressed commendation for the Final Investment Decision (FID) made by Shell Petroleum Development Company (SPDC) and its joint venture partners on the Iseni Project. This decision, according to Ekpo, marks a significant…
Nigeria Grapples with Crippling Power Outages as Grid Crashes to 305MW: Minister Vows Swift Action Nigeria plunged into darkness on Sunday, February 4th, as the national power grid suffered a catastrophic collapse, with generation plummeting from 2,658.75MW at 11:00 am to a mere 305MW by 3:00 pm. This unprecedented event left millions of Nigerians grappling…
Chevron Surges with Record Cash Returns and Oil Production Despite Profit Dip Houston, Texas – February 3, 2024 – Chevron capped off a banner year with record cash returned to shareholders and oil & gas production, despite a slight dip in reported earnings for the fourth quarter of 2023. The energy giant outperformed analyst expectations,…
Import Costs Skyrocket in Nigeria as CBN Hikes Duty Rate by 43% Lagos, Nigeria – February 3, 2024 – Nigerian businesses and consumers brace for a significant blow as the Central Bank of Nigeria (CBN) unexpectedly raises the import duty rate by a staggering 43%. This move, effective immediately, threatens to further cripple the already…
CISLAC Urges Bold Tax Reforms as Nigeria Grapples with Revenue Strain In the face of a noticeable decline in federal funding for vital economic sectors, the Civil Society Legislative Advocacy Centre (CISLAC) is pushing for comprehensive tax reforms to compel affluent individuals and organizations to contribute more to Nigeria’s national revenue. Speaking passionately at a…
Namibia International Energy Conference 2024: Fueling Economic Growth through Energy Innovation Windhoek, Namibia – February 5, 2024 In a bid to harness its energy potential for economic prosperity, Namibia is gearing up for the highly anticipated Namibia International Energy Conference (NIEC) set to take place from April 23-25, 2024, at Droombos Estate Windhoek. This conference…
Shell, Partners Greenlight Gas Pipeline to Power Dangote Fertilizer Plant. Shell and its partners in the Shell Petroleum Development Company of Nigeria (SPDC) have announced a major investment decision to support Nigeria’s gas ambitions. The joint venture, alongside the Nigerian National Petroleum Company Limited, TotalEnergies EP Nigeria Limited, and Nigerian Agip Oil Company, has committed…
Nigerian Navy Cracks Down on Illegal Refining in Bayelsa, Destroying Three Sites The Nigerian Navy, continuing its fight against oil theft in Bayelsa State, has destroyed three illegal refineries containing approximately 50,000 liters of suspected stolen crude oil. Key Points: Operation Delta Sanity: The action falls under the Navy’s “Operation Delta Sanity” aimed at eliminating illegal…