How multinationals can drive growth and skills transfer in the African data centre market Faith Waithaka, Cloud and Service Provider Segment Sales Lead: Anglophone Africa at Schneider Electric and Kevin Kent, Founder & CEO of Critical Facilities Efficiency Solutions The outlook for data centre growth on the African continent looks bullish. With a population of almost…
Equinor, Ithaca Energy take FID on UK’s Rosebank Field Equinor and Ithaca Energy have taken the Final Investment Decision (FID) to progress Phase 1 of the Rosebank development on the UK Continental Shelf (UKCS), investing USD 3.8 billion. A statement by Equinor on Wednesday said that the North Sea Transition Authority (NSTA) granted consent for…
MAP Meters: Kaduna Electric Begins Refund to Customers In compliance with the directive of the Nigerian Electricity Regulatory Commission (NERC), Kaduna Electric has started refunding customers who purchased meters under the Meter Assets Provider (MAP) scheme. This was disclosed by the Head of Corporate Communication of the distribution company, Abdulazeez Abdullahi, in a statement. Abdullahi…
Africa Needs Partnership in Oil and Gas Technological Development – APPO The African Petroleum Producers’ Organisation (APPO) has said that what Africa needs from the developed nations of the world is not hand-outs but partnerships to develop oil and gas technology on the continent. The Secretary General of APPO, Dr. Omar Farouk Ibrahim, stated this…
Oil Prices Rise as Supply Concerns Outweigh Demand Fears Oil prices rose on Friday as concerns that a Russian ban on fuel exports could tighten global supply outweighed fears that further U.S. interest rate hikes could dent demand, but they were still headed for their first weekly loss in four weeks. Brent futures climbed 46…
Nigeria Secures $13 Billion in Investment Pledges From Big Oil Nigeria has secured a total of $13 billion in investment commitments in its oil and gas sector from major international energy companies, including ExxonMobil, Shell, and TotalEnergies, according to Olu Verheijen, the Special Adviser on Energy to Nigeria’s President Bola Tinubu. Verheijen and the Nigerian…
State-Owned Refineries Must Run on NLNG Model for Sustainability The Federal Government has been charged to divest some of its interest and ownership from the nation-owned refineries and allow the four refineries to run on the NLNG model for sustainable operations. Under the NLNG model, the federal government represented by NNPC Ltd. has 49percent equity…
Tinubu asked to Probe Alleged Missing $15bn, N200bn of Oil Revenues Socio-Economic Rights and Accountability Project (SERAP) has asked President Bola Tinubu to set up a presidential panel of enquiry to probe the allegations that over $15 billion of oil revenues, and N200 billion budgeted to repair the refineries are missing and unaccounted for between…
The Spread between Brent and WTI has Aligned with Transatlantic Freight Costs The cost of transporting U.S. crude from the Gulf Coast to Europe has been increasingly determining the discount at which the U.S. benchmark WTI trades relative to the North Sea crude benchmark Brent, according to estimates by Argus. So far in September, the…
Nigeria: Oil and Gas Capital Expenditure Drops to $6 Billion from $27 Billion -FG The Nigerian Government revealed that the total annual upstream capital expenditure in Nigeria’s oil and gas industry decreased from 27 billion dollars in 2014 to less than six billion dollars in 2022. This was disclosed by Mr Komolafe Chief Executive of the…