African refineries: why 2023 will be a transformational year for Africa’s fuel supply security By: Hawilti 2022 has been a point of no return for sub-Saharan Africa’s downstream industry and the continent is poised to witness significant transformations in its fuel supply security this year, shows a new Hawilti report. Africa imports over half of…
Imo Univ Awards Wabote Doctor of Science, Celebrates Accomplishments For his excellent contributions to the growth and transformation of the Nigerian oil and gas industry and the towering leadership he has provided for the development of local content in Nigeria and Africa, the Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Simbi…
CISLAC Sensitizes Host Communities on Host Community DTF The Civil Society Legislative Advocacy Centre, CISLAC, has sensitized oil and gas host communities in the Niger Delta on the Host Community Development Trust Fund, a component of the Petroleum Industry Act, in order to enable them benefit from resources extracted from their communities. Executive Director of…
Global Energy Transition Fuels Boom in Specialty Steel Demand New-age steel technologies are exclusive to a select few nations around the world. For this reason, they can only be acquired with significant domestic R&D expenditures or from those countries that already possess them. Either way, these technologies are critical for producing specialized steel products. Among…
195 Pump Price: Showdown looms as fuel marketers plan lockdown, Monday There are strong indications that Independent marketers of Premium Motor Spirit (PMS), popularly called petrol, plan a lockdown on their operations beginning Monday once the government starts enforcing the N195/litre pump price. It was gathered on Saturday that the Nigerian National Petroleum Company Limited…
Ukraine War: Russia’s Oil and Gas Revenues Slump 46% Russia’s budget revenues from oil and gas plunged in January by 46% compared to the same month last year due to the sanctions on Russian oil exports, which led to a slump in the price of Russia’s flagship crude grade. Russian budget revenues from energy sales…
Baker Hughes Data Shows US Drilling Activity Slows The total number of total active drilling rigs in the United States fell 12 this week, according to new data from Baker Hughes published on Friday. The total rig count fell to 759 this week—146 rigs higher than the rig count this time in 2022 and 316…
Western Sanctions Lowers Russia’s Energy Revenues Russia’s monthly budget revenues from oil and gas fell in January to their lowest level since August 2020 under the impact of Western sanctions on its most lucrative export, Finance Ministry data showed on Friday. Monthly tax and customs revenue from energy sales declined 46% in a year –…
NEPZA Working With Abuja Chamber to Attract FDI to Gemstones Industry The Managing Director of the Nigeria Export Processing Zones Authority, NEPZA, Adesoji Adesugba, has revealed that the agency was working with the Abuja Chamber of Commerce and Industry, ACCI, and the ‘Best Centre,’ that specialised in the training of gemologists, to widen the scope…
NNPC Ltd Seals $740m Contract with Daewoo as Kaduna Refinery Begins Operation. The Nigerian National Petroleum Company Limited signed a deal with Daewoo for the maintenance of the Kaduna Refining and Petrochemical Company Limited (KRPC). The contract sum for the deal is valued at $740.6m. Speaking at the agreement signing event held at the NNPC…