NUPRC Deploys Initiatives to Assist Marginal Field Awardees Progress in Oil Production In recognition of the funding challenges facing some of the awardees of the 2020 Marginal Field Bid Round licences, the Nigerian Upstream Regulatory Commission (NUPRC) is planning a production based lending engagement that will help them source needed capital to commence full field…
Energy: Africa Data Centres and Distributed Power Africa work together to reach Sustainable Development Goals Africa Data Centres and Distributed Power Africa work together to reach Sustainable Development Goals Under the terms of the agreement, DPA SA will supply 12MW of renewable solar energy for Africa Data Centres facilities in South Africa Access Multimedia Content…
Wave of New LNG Export Plants Threatens to Knock Gas Prices A flood of liquefied natural gas (LNG) export projects due online worldwide in mid-decade will vie against lower-cost renewable energy and a revived nuclear power sector, which could rock gas prices and hurt some proposed projects, analysts say. Proposed and approved new LNG plants…
To Develop Thriving Downstream Markets, Africa Needs Free Markets, Private Sector Participation AEC Executive Chairman NJ Ayuk calls for Africa to cut the high energy taxes, create enabling environments for energy firms to thrive and reduce resource nationalization to drive oil and gas industry growth and make energy poverty history by 2030 Access Multimedia Content…
CBN Bows to Pressure, Directs Banks to Comply with Supreme Court Order On Usage Of Old N200 N500 N1000 Notes Till Dec 31 The Central Bank of Nigeria (CBN) on Monday said old N200, N500 and N1,000 notes remain legal tender till December 31, 2023. Its acting director of corporate communications, Isa Abdulmumin disclosed this…
Exporting 90 percent of Africa’s Oil Production Regrettable An indigenous player in the oil and gas sector, Mr. Victor Ekpenyong, has said that it was regrettable that almost 90 percent of oil productions in Africa is exported. This is as Nigeria in the last quarter of 2022 returned as the largest oil producer in Africa,…
Guinea, Shareholders Agree JV Terms on Simandou Iron Ore Guinean authorities and shareholders have agreed on the terms of a joint venture to mine Simandou, one of the world’s largest deposits of iron ore, paving the way for work to resume this month, the presidency said on Monday. Guinea’s transitional government ordered work to stop…
Global Liquid Fuel Production to Outpace Demand – EIA The U.S. Energy Information Administration (EIA) expects global liquid fuel production to outpace demand in 2023 and 2024, according to its latest short term energy outlook (STEO). In the STEO, the EIA projects that total world production will hit 101.47 million barrels per day this year…
ExxonMobil to End Routine Gas Flaring in Upstream Operations 2030 American oil and gas firm, ExxonMobil has announced that it will end routine gas flaring across all its global upstream operated assets by the year 2030. The oil firm said it has already eliminated routine flaring across its West Texas and New Mexico Permian Basin…
India’s February Fuel Demand Hits at Least 24 Year High India’s fuel demand hit its highest level in at least 24 years in February, as indicated in recent data, with industrial activity in Asia’s third biggest economy boosted by cheap Russian oil. Consumption of fuel, a proxy for oil demand, rose by more than 5%…