Ship Owners say CVFF is more than $2 Billion Apparently countering the Minister of Transportation, Engr. Mu’azu Jaji Sambo, the Nigerian Shipowners’ Association (NISA) rejected claim by the Minister that money accruing into the coffers of the Cabotage Vessel Financing Fund (CVFF) in the last 17 years stands at USD350 million. NISA Board Chairman, Chief…
German Pipeline Firms to Embark on Hydrogen in 2025 Germany’s Gascade, Ontras and terranets have agreed to convert high-pressure gas pipelines to transport low-carbon hydrogen from the Baltic Sea all the way the south of the country by 2025, the companies said on Thursday. The three pipeline companies are creating a 1,100 kilometre 683.5 miles)…
It is Criminal for Africans to Abandon Oil & Gas The Equatorial Guinea Minister of Mines and Hydrocarbons, and 2023 OPEC President, Gabriel Mbaga Obiang Lima has reiterated that it is criminal for the African continent to abandon its oil and gas resources, citing energy poverty and a just transition as key factors. He made…
NDPHC Plans 100,000 Solar Home Units to Boost Electricity Niger Delta Power Holding Company (NDPHC) says it plans to develop 100,000 solar home units across the country to ensure that every Nigerian has access to electricity. Managing Director of NDPHC, Mr Chiedu Ugbo, stated this in Calabar on Wednesday while delivering a keynote address at…
Navy Commissions Boat, Other Projects to Enhance Productivity As a way of keeping naval operatives physically fit to combat oil theft, sea piracy and other maritime crimes, the Nigerian Navy has commissioned some developmental projects including a multipurpose sports complex, a renovated boat and an event hall in Rivers State. Commissioning the projects in…
Egypt Discovers Large Gas Field in Mediterranean Egypt has discovered a large gas field in the Nargis block in the eastern Mediterranean, Petroleum Minister Tarek El Molla said on Thursday. Evaluation is still ongoing to determine the field’s reserves, he said in a briefing to a parliamentary committee. Nargis is one of four offshore exploration…
FG Opens Second Niger Bridge to Ease Traffic The second Nigeria Bridge has been opened for use after several years of delay The bridge which gulped around N400bn was open at 9:50am on Thursday, December 15, 2022. The bridge would be open for only 30 days, according to the federal controller of works in Delta…
Declare a State of Emergency on Power Industry Stakeholders at PwC Annual Power Roundtable call on incoming Administration to Declare a State of Emergency on Power The incoming administration in 2023 should declare a state of emergency in the power sector to solve the lingering crisis of inadequate supply. This consensus emerged at the 13th…
Eni Eyes Biorefinery in Malaysia with Petronas, Euglena Italian energy group Eni is studying the possibility of developing and operating a biorefinery in Malaysia together with Japan’s Euglena and Malaysia’s Petroliam Nasional Berhad (Petronas), the three groups said on Wednesday. The plant would be based in the integrated refinery and petrochemical Pengerang Integrated Complex (PIC)…
Russia’s Oil Exports Rose but its Revenue Fell Ahead of Price Cap -IEA Russia’s oil exports rose in November ahead of a Dec. 5 price cap imposed by the G7, the European Union and Australia to curb Moscow’s wartime revenue, the International Energy Agency (IEA) said on Wednesday. However, lower global prices and steeper discounts…
