Nigeria’s blue economy prospects, opportunities and challenges Over the past 10 years, the phrase ‘blue economy’ has gained popularity as more people, governments and economists have come to understand the enormous possibilities that the ocean and its resources present. The concept, blue economy, can be traced to Gunter Pauli’s 2010 publication and its currency gaining…
Experts urge government to subsidize CNG vehicle conversions Some oil and gas experts have appealed to the Federal Government to subsidize the cost of converting petrol or diesel vehicles to gas for Nigerians as means of palliative measures. The experts said this would cushion the effect and encourage average Nigerians to make use of the…
NCDMB to launch 17 companies from Technology Incubation Centre The Nigerian Content Development and Monitoring Board (NCDMB) in partnership with Founder Institute (FI) is set to launch new 17 portfolio companies that have passed through the Board’s Technology Incubation and Innovation Centre (TIIC). This is in furtherance of its mandate to catalyze research and development…
NIMASA: Acquisition of properties in the UK Untrue The management of the Nigerian Maritime Administration and Safety Agency (NIMASA) has said there is not one iota of truth in allegation leveled against it by human rights lawyer, Femi Falana, SAN, concerning its acquisition of properties in the United Kingdom. According to a statement by Assistant…
NLNG plant is not shut down- official The Nigeria LNG Limited (NLNG) has reiterated that operation at its plant on Bonny Island is still active despite a Force Majeure, which still subsists due to the unavailability of upstream gas suppliers’ major liquids evacuation pipelines occasioned by sabotage and vandalism. Its General Manager, External Relations and…
Oil theft: Navy returns stolen crude-laden vessels to owners in Bayelsa The Nigerian Navy on Friday returned a merchant tanker vessel, MV TIS IV, and a Barge Podium held for complicity in oil theft to their owners in compliance with a court judgement. The court had convicted the crew and ruled that the stolen crude…
IPMAN to partner with FG on CNG Initiative The Independent Petroleum Marketers Association of Nigeria (IPMAN), says its ready to partner with the Federal Government on the Presidential Compressed Natural Gas Initiative (PCNGI). IPMAN’s President, Alhaji Debo Ahmed gave the assurance at the weekend while commending government’s initiative on the alternative to petrol. It would…
Capsized Majestic rig owned by Depthwize not Seplat, search continues for 3 missing crew members Seplat Energy Plc has provided an update regarding the incident involving the Majestic rig, which capsized near Ovhor in Delta State, noting that search is in progress for the missing three crew members. Seplat said contrary to some media reports,…
Russian Seaborne Diesel Exports Rise By 7% in Aug 1-14 M/M Russia’s seaborne diesel and gasoil exports rose by 7% to about 1.7 million metric tons in the first 14 days of August from the same period in July on strong production volumes after seasonal refinery maintenance eased, data from traders and Refinitiv Eikon showed….
NEITI: Nigeria lost 619.7m barrels of crude to oil thieves from 2009 to 2020. The Nigeria Extractive Industries Transparency Initiative (NEITI) on Wednesday said, Nigeria lost over 619.7 million barrels of crude oil valued at $46.16 billion or N16.25 trillion from 2009 to 2020 from theft and sabotage, amounting to losing over 140,000 barrels of crude…
