Oil firms slash investments in UK as govt announces new taxes Multiple leading international oil and gas firms have announced cuts in proposed investments in North Sea as the government of the United Kingdom raised taxes on profits. A statement from WorldPR Group said that French oil giant, TotalEnergies disclosed it will be cutting investment…
Canada Fingered for Prioritising Timber Economy over Environmental Goals Following a leaked attempt to weaken the most stringent rules on deforestation-free commerce, the Canadian government has been accused of prioritizing its domestic timber business over the health of the planet. Weeks before the Cop15 conference on biodiversity in Montreal, the host country wrote to the…
Ghana’s Gold-for-Oil Policy Raises Eyebrows, Experts Slam Announcement The Government of Ghana’s latest announcement to buy oil with gold rather than US Dollars amidst forex scarcity and high inflation in the country has raised eyebrows and criticism from industry experts and observers. The Ghanaian Vice President, Mahamudu Bawumia announced through Facebook that the government was…
As Europe debates price cap, China, India scoop Russian oil at 40% discount – Nigeria struggles to benefit amid production constraints The European Union has once again failed to agree on a price cap for Russian crude oil amidst sanctions placed after the Russian invasion of Ukraine. Meanwhile, reports note that China and India have seized…
11th Practical Nigerian Content Commences Dec 5 as NCDMB, SHELL, NLNG Attend Forum The 11th Practical Nigerian Content (PNC) Forum driven by the Nigerian Content Development & Monitoring Board (NCDMB) will take place in-person from December 5-8, 2022 in Uyo, Akwa Ibom State. It is noteworthy that 11 years on from the enactment of the…
BPV accuses Petroleum Minister of politicizing flood victims A group known as Bayelsa Progressive Vanguard, BPV, has accused the Minister of State for Petroleum Resources, Chief Timipre Sylva, of politicising the relief materials distributed to flood victims in Bayelsa State for political points. Coordinator of the group, Daniel Amasentei, explained that his investigations revealed that…
Vandals Destroy 6 Transmission Towers, Kill Vigilante in Rivers The unrelenting attacks on power infrastructure by economic saboteurs leading to inability of Nigerians to access adequate electricity for economic growth and prosperity has continued unabated. In recent times, several projects being embarked upon by Niger Delta Power Holding Company (NDPHC) Limited have been attacked and…
NNPC’s Partnership With Private Security Outfit Yielding Results As Crude Oil Production Rises By 300,000BPD The security agreement which the Nigerian National Petroleum Company Ltd entered with Tantita Security Services Ltd is already yielding results as the country has started experiencing increase in crude oil and gas production volumes. The NNPC had on August 13…
Shell Distributes Food and Relief Materials to Flooded Rivers, Bayelsa, Delta and Imo Communities It was a busy week for Shell Disaster Response Program as coordination teams through health outreach distributed food and non food relief materials to flooded affected communities in Rivers, Bayelsa, Delta and Imo States. [custom-related-posts title=”Related Posts” none_text=”None found” order_by=”title” order=”ASC”]
Government Blames Oil Theft for Nigeria’s Economic Situation The federal government has attributed the country’s economic uncertainties to increasing armed robbery, kidnapping, communal tensions, pipeline vandalism and oil theft across the Niger Delta Region. To this end, the federal government had directed the Ministry of Niger Delta Affairs to design and develop a strategic document…