Watershed Moment as COP27 Kicks off in Egypt The world’s biggest summit on climate change kicked off in Egypt on Sunday, with more than 120 world leaders gathered to tackle a range of pressing environmental issues following a year of heat waves, droughts, typhoons, and flooding. The climate summit, held in the southern city of…
Netherlands Allowed Russian Ships into its Ports According to a report citing its ministries, the Dutch government granted 91 waivers from sanctions against Russia since the country invaded Ukraine late in February. According to RTL Nieuws, the ministries withheld the names of the companies involved, the value of the transactions that were exempted, and the business…
Can Carbon Capture, Storage Fix Emissions Problem? Climate activists have long been skeptical about Carbon Capture and Storage (CCS) technology majorly used by oil and gas exploration firms to reduce their net emissions as they claim it is a façade. Despite the doubts by opposing parties, research shows that CCS investments have soared and major…
NCIC/All-On give $80,000 Grant Funding to Eight Clean-Energy Start-ups from 2022 Incubation Program All On, through its venture-building platform the All On Hub, in partnership with the Nigeria Climate Innovation Centre (NCIC) is pleased to announce the winners of the 2022 edition of the annual incubation program for early-stage renewable energy entrepreneurs. They are: Retile,…
BP Joins Rivals with Bumper $8.2 Bln Profit BP more than doubled its third-quarter profit from a year earlier to $8.15 billion, lifted by strong natural gas trading, as it expanded its share buybacks by $2.5 billion amid rising calls to increase taxes on the energy sector. The London-based company joins rivals including Shell (SHEL.L),…
Addax exits four oil blocks, NNPC takes over assets The Nigerian National Petroleum Company Ltd announced on Tuesday that Sinopec’s Addax Petroleum Development (Nigeria) Ltd had exited and transferred four major oil mining blocks in Nigeria to the state-owned oil company. Addax began operations in Nigeria in 1998 by signing Production Sharing Contracts (PSCs) with…
Saudi Aramco Q3 Net Income Jumps 39% On Higher Crude Prices Saudi Arabian state oil producer Aramco (2222.SE) on Tuesday posted a 39% jump in its third-quarter net income that beat analysts’ forecasts, boosted by higher crude oil prices and volumes sold. Aramco’s net income rose to $42.4 billion for the three months to Sept….
U.S. Oil Production Nears 12m Barrels/Day U.S. oil output climbed to nearly 12 million barrels per day (bpd) in August, government figures showed on Monday, the highest since the onset of the COVID-19 pandemic, even as shale companies have said they do not see production accelerating in coming months. U.S. crude prices have hovered around…
NAOC JV PROVIDES SUPPORT TO 2022 FLOOD VICTIMS IN NIGERIAN STATES – RIVERS, BAYELSA, IMO AND DELTA NAOC JV distributed food and essential goods to about 260 communities hit by recent floods in the Rivers, Bayelsa, Delta and Imo States in Nigeria. A delegation of the JV led by the General Manager of the Port…
NCDMB Lauds Crestech for Capacity Building, Employment Creation Crestech Engineering Ltd has been applauded by the Nigerian Content Development and Monitoring Board (NCDMB) for its full support towards the capacity building and job creation objectives of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act. Mr. Akintunde Adelana, Director, Monitoring and Evaluation NCDMB conveyed…