Glencore to Pay out $7 Billion in Dividends and Buybacks Glencore will hand out over £5.8bn ($7bn) to shareholders in dividends and buybacks after the commodities giant posted another period of bumper revenues and profits powered by its coal and trading divisions. Glencore announced it will make a record payout to shareholders of $5.1bn dividend,…
Spanish Port Denies Maersk Tanker Entry over Russian Oil Links A ship operated by giant shipping company Maersk Tankers has been denied entry into a Spanish port after its oil cargoes were found to have previously been carried by a vessel that was formerly Russian flagged. According to Spanish officials, Spain’s northeastern Tarragona port refused…
Ikeja Electric takes Valentine to Down Syndrome Foundation Nigeria, Donates Consumables Ikeja Electric Plc (IE) visited the Down Syndrome Foundation Nigeria in Alamutu area, Fagba, Lagos to celebrate the 2023 Valentine Day with the training centre for children and adult with down syndrome. The Chief Executive Officer Ikeja Electric, Folake Soetan said the company is…
Wabote lists Strategies For Local Content Regional Collaboration, Signs Agreement with Senegal Amid global concerns over energy security and a regional resolve on collaboration to deepen local content, the Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, has proposed strategies that would break down barriers and promote cross-border collaboration amongst…
Energy Demand in Africa Expected to Rise to 35% in Next 20 Years – Kyari The Group Chief Executive Officer of the Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said that in the next 20 years, energy demand in Africa will rise to between 30 and 35 percent. This demand, Kyari said, will…
AFRICA REMAINS THE MOST ENERGY-POOR CONTINENT, DESPITE HOLDING MORE THAN 8% OF THE WORLD’S PROVEN NATURAL GAS RESERVES By Hawilti Domestic Gas Resources Can Improve the Lives of Africa’s Young, Increasing Population, and Deliver the Energy it Needs to Develop within a Just Energy Transition. The International Gas Union (IGU) in partnership with Hawilti Ltd….
NCDMB Sensitizes Host Communities on Community Content Guidelines In line with the key objective of the Nigerian Content Development and Monitoring Board (NCDMB) to systematically grow in-country value addition through development of local capacity and capabilities, the Board conducted a one-day series workshop for contractors, youths and host communities on the Community Content Guidelines for…
Ndiomu Decries Detractors for Resisting Reforms in Niger Delta Interim Administrator of the Presidential Amnesty Programme (PAP), Major General Barry Ndiomu (retd), has disclosed that those peddling lies and sponsoring frivolous petitions against his administration, are resistant to the reforms and changes he has brought on board. General Ndiomu stated this over the weekend during…
BP Shares have Jumped Nearly 20% Investors seem to have liked BP’s latest strategy update that told of its goal to produce more oil and gas in the short term as the UK-based supermajor is once again worth more than £100 billion ($121 billion) on the London stock exchange for the first time in three…
Russian Oil Price Cap is Meeting Objectives: G7 The Russian oil price cap mechanism is still meeting its objectives, a G7 price cap coalition official told Reuters on Friday. Any Russian production cuts that may be forthcoming will disproportionately hurt developing countries, the G7 official added. Earlier on Friday, Russia announced a 500,000 bpd crude…
