Wabote Commissions GIL Automation’s factory, charges oil firms on diversification, energy transition The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote on Thursday in Lagos performed the commissioning of GIL Automations’ cable tray and switchgear factory and the opening of its new building. The company offers an array…
A World Facing Too Many Headwinds The prices of petroleum products have been at their highest since 2014 after Russia invaded Ukraine in fears it would receive approval to join the North American Treaty Organization (NATO), a security alliance spearheaded by Russia’s major geopolitical rival, the United States. As the Eastern European country accounts for…
First Bank Blazing The Trail for The Energy Sector Ever since the Petroleum Industry Act (PIA) came to into existence which is to strengthening administrative governance in the oil and gas industry, stakeholders have embraced the Act. Amazing Science, isn’t it? One of the major stakeholders of the energy sector is the financial institutions…
OTL Attracts Collaborations, Strategic Engagements for the Downstream- Oyebanji In his welcome address at the Opening Ceremony of Oil Trading and Logistics (OTL), Africa Downstream Week, Mr. Tunji Oyebanji, Chairman Advisory Board and Managing Director of 11 Plc told participants that the downstream event has remained active over the years, despite strong industry headwinds that…
World is in its ‘first truly global energy crisis’ – IEA’s Birol Tightening markets for liquefied natural gas (LNG) worldwide and major oil producers cutting supply have put the world in the middle of “the first truly global energy crisis”, the head of the International Energy Agency (IEA) said on Tuesday. Rising imports of LNG…
NMDPRA Boss Launches MOMAN Compendium of Best Practices Series The Authority Chief Executive of the Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), Engr Farouk Ahmed Monday launched the Major Oil Marketers Association of Nigeria (MOMAN) Compendiums of Best Practices Series of the Downstream sector. It was a standing ovation when the Authority CEO launched…
NMDPRA Vows to Prosecute Owner of Gas Plant that caught Fire in Port Harcourt -By Precious Ahiakwo-Ovie The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) says it will arrest and prosecute the owner of the gas plant that caught fire last week for operating illegally. Field Coordinator of The Nigerian Midstream and Downstream Petroleum…
Kerosene Price Up 118% Year-On-Year – NBS The National Bureau of Statistics, NBS, has reported in its “National Kerosene Price Watch’’, that kerosene price rose to N947.30 per litre in September 2022, showing a 17.2 per cent increase over the N809.52 for which it was sold in August 2022. According to the bureau, on a…
Empowering Energy Independence in Africa by Enabling Rural, Urban Renewable Energy Awareness, Access and Affordability The Nigerian Association for Energy Economics (NAEE) joins all energy specialists and enthusiasts in commemorating World Energy Day (WED). Since its inception by the World Energy Forum in 2012, it has been commemorated every year, and provides an opportunity to…
IMF, Malawi Reach Staff Deal on $88m Emergency Financing The International Monetary Fund said on Friday that it had reached a staff-level agreement with Malawi for up to $88.3 million in emergency financing, as the southern African country struggles with acute forex shortages. Reuters reported earlier this week that Malawi, which has been experiencing chaotic…