UK to contribute $2bn to Green Climate Fund The United Kingdom (UK) will contribute £1.62 billion ($2 billion) to the Green Climate Fund (GCF), which was established by 194 countries following the Copenhagen Accord at COP15. The GCF is the largest global fund dedicated to supporting developing countries to reduce global emissions and helping communities…
7.5% VAT on diesel may disrupt fuel supply – NARTO The Nigerian Association of Road Transport Owners, on Tuesday, called on the Federal Government to stop the 7.5 per cent Value Added Tax on Automotive Gas Oil, popularly known as diesel. NARTO said the halt of VAT on diesel had become fundamental in order to…
Chevron To Be Majority Owner Of World’s Largest Hydrogen Production Facility U.S.-based Chevron Corp. will soon be the majority owner of what will be the world’s largest hydrogen production and storage facility as it branches out past fossil fuels. Chevron New Energies—a division of Chevron that has a goal of “helping customers meet their lower…
U.S. Seizes 1 Million Barrels Of Smuggled Iranian Crude Enroute To China U.S. authorities seized nearly 1 million barrels of Iranian oil that were being illegally smuggled to China earlier this year, reports have emerged. The U.S. seized Greek-owned M/T Suez Rajan with court filings showing allegations from U.S. prosecutors that Iran falsified the vessel’s cargo records…
SAIPEC 2024: Exhibition 70% Sold Out! The Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), hosted by the Petroleum Technology Association of Nigeria (PETAN), will return to the Eko Convention Centre, Lagos, 13 – 15 February 2024, for its 8th edition, as the only energy, oil and gas event held in partnership with the entire…
NERC Launches App to Monitor Discos Compliance with Tariff Nigeria Electricity Regulatory Commission (NERC) on Monday, September 11, launched an app to monitor Electricity Distribution Companies (DisCos)’s compliance with the tariffs set in a regulation. The chairman of NERC, Sanusi Garba broke the news in Abuja during the launch of the Power Outage Reporting System…
Ogun Boosts Access to Green Energy, Trains Youths on Solar Power The Ogun State government has trained and empowered 500 youths on solar panel installation and marketing, boosting access to green energy, job opportunities and wealth for the residents. The youths trained were selected from three senatorial districts of the state. The training was jointly…
36 States Receive N1.51trillion FAAC Allocation in Six Months -NEITI Report The 36 states in the federation received about N1.51trillion, or 34.5 percent of the total N4.37 trillion shared by the three tiers of the government between January and June, 2023, the second quarter 2023 Federation Account Statutory Revenue Allocations Report has shown. The report…
Mercedes and BMW Unleash New EVs for Chinese Market Both Mercedes and BMW have their sights set on growth in China and taking down the industry leader, Tesla, new reports revealed this week. Mercedes is going to try and count on a range boost to beat out Tesla’s Model 3. The company’s near-production concept of…
NUPENG Threatens Industrial Action over Agip Sale The National Union of Petroleum and Natural Gas Workers, NUPENG, has vowed to resist the sale of the Nigerian Agip Oil Company, NAOC, until all industrial relations issues with the company workers are properly discussed and resolved. To this end, NUPENG has charged the federal government to halt…