IYC berates NNPCL over $3bn Afreximbank Loan The Ijaw Youth Council, IYC Worldwide, has kicked against the $3billion loan obtained by the Nigeria National Petroleum Company Limited, NNPCL from Egypt’s African Export-Import Bank, to stabilize the Naira. Recall that the state-owned oil company, NNPCL, recently secured a $3 billion oil-for-cash loan from Afreximbank, with the…
Russian Natural Gas Pipeline Catches Fire following Blast A natural gas pipeline has caught fire in Russia, RIA news agency said on Thursday. The blast took place at 7:40 a.m. local time and was followed by a fire that affected the underground Peschany Umyot-Storozhevka pipeline near the village of Krasny Oktyabr, operated by Gazprom. Videos…
Qatargas Rebrands to QatarEnergy LNG Qatargas has changed its name to QatarEnergy LNG to reflect the tiny Gulf nation’s commitment to continue to be one of the top suppliers of LNG globally, the parent company QatarEnergy said on Thursday. QatarEnergy LNG, with the new name and a new logo, highlights Qatar’s growing role in meeting…
Oil Price Rally Sees WTI Top $90 West Texas Intermediate (WTI) soared past $90 in Thursday morning trading, up over 30% in three months, driven by sustained OPEC+ production cuts and indications that a tighter market is coming. At 10:51 a.m. ET on Wednesday, WTI was trading at $90.14, up $1.62 on the day for…
TotalEnergies Considers $9 Billion Oil Project Offshore Suriname TotalEnergies is launching development studies for a 200,000-bpd oil project offshore Suriname worth $9 billion, in what could be the first commercial crude production in the South American country neighboring the new hotspot for discoveries, Guyana. The French supermajor announced this week its intention to start detailed…
SDG4: Egbin Power Boosts Investment in Education with Scholarship to Host Communities Egbin Power Plc, Nigeria’s largest power generation company continues to promote academic excellence and gradual achievement of the Sustainable Development Goals (SDGs) in the host communities through its scholarship programme, which is now in its 8th edition. During the presentation of awards to…
National Grid Collapse Plunges Nigeria into Darkness Nigerians experiences a nationwide blackout on Thursday morning due to a major breakdown in the national grid system. This critical infrastructure is managed by the Transmission Company of Nigeria (TCN), headquartered in Osogbo, Osun State. Several Distribution Companies across the nation confirmed the grid’s collapse during the early…
AI & 5G Reshaping Energy Efficiency via Smart Switchgears in Power Sector In the Industry 4.0 era, advanced AI and ML technologies have revolutionized switchgear, enabling precise predictive maintenance through real-time load and fault analysis. Smart switchgears leveraging 5G for instant data transmission are key elements in optimizing energy distribution in smart grids and microgrids,…
Petroleum Minister hails NCDMB on skill development project, urges timely completion Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has commended the Nigerian Content Development and Monitoring Board (NCDMB) for its intervention in the construction of the proposed Centre for Skills Development and Training (CSDT) at Omagwa, Ikwerre Local Government Area of Rivers…
NCDMB, PTI, to Close Ranks to Actualise Capacity Development Mandates Wabote named Fellow, Petroleum Training Institute The Nigerian Content Development and Monitoring Board (NCDMB) and Petroleum Training Institute (PTI), Effurun, Delta State, are set to formalise processes for closer collaboration to actualise their shared mandate for human capacity development and advancement of Nigeria’s oil and…
