CNL Showcases Investment in Local Content for 2021 Report Chevron Nigeria Limited (CNL) showcases Corporate Social Responsibility (CSR) report of company’s multimillion naira investments in Nigerian local content. It revealed in its 2021 CSR report where it stated its investment in Nigerian Content was approximately $863,110,905.70, with approximately $214,418,107.76 spent on materials and services provided…
NAPE Recommends Sanctions for Non-compliance with Regulations by IOCs Foremost oil industry association, Nigerian Association of Petroleum Explorationists (NAPE) has called for sanctions on international oil companies (IOCs) that flout the decommissioning of non-functional oil and gas assets before their planned exit. Speaking in Abuja at the NAPE quarterly technical presentation, the Coordinator, Abuja chapter…
President Buhari Withholds Consent of Exxon Mobil’s Asset Sale Nigeria’s President Muhammadu Buhari has withheld his initial approval of Exxon Mobil’s (XOM.N) sale of local offshore shallow water assets to Seplat, his spokesman said on Thursday, after the oil regulator refused to give its consent. Buhari on Monday consented to the $1.28 billion transaction, only…
IE Signs Tripartite Mini Grid Contract for Improved Power Supply Ikeja Electric Plc, has signed a Tripartite Interconnected Mini-Grid Agreement with Enaro Energy Limited and Ayobo community, to provide reliable and uninterrupted electricity supply to Ishokan Phase1 Estate, Mercy Land Estate and Mercy Land Phase1 residents in Ayobo, Lagos State. The initiative is in line…
Nigeria to Train 10,000 Ogoni Youths on Alternative Livelihoods As a way of stopping the re-pollution of Ogoniland through artisanal oil refining activities, the Federal Government has announced that it has increased the number of Ogoni youths who would be trained in various livelihoods programmes from 5,000 to 10,000. The Minister of Environment, Barr. Mohammed…
Impact Investment Company of Shell Appoints New CEO Shell’s impact investment company, All On, has appointed Caroline Eboumbou as the new Chief Executive Officer of the company after a broad search and rigorous interview process. Eboumbou replaces Dr. Wiebe Boer who is now the president of Calvin University. She will relocate to Lagos and is…
South Africa’s blackouts render it seeking private sector assistance In a bid to reduce the country’s reliance on the state-owned power provider, Eskom, amidst extended blackouts, the President of South Africa, Cyril Ramaphosa has announced a plan to enlist the private sector to support generation capacity of the grid. Recent load-shedding announcements by Eskom have…
Mexico Urges Carbon Offsets Regulation as Investigation Exposes BP Underpricing The president of Mexico, Andres Manuel Lopez Obrador has called for a regulation of the country’s carbon offset market after an investigation outed BP Plc for lowballing subsistence farmers. The Bloomberg Green investigation stated that the oil giant paid a meagre $4 per tonne to…
Supply Chain Constraints Aren’t Holding Back Renewables Investments – Global allocation hits record $226bn – US govt to invest $26m in grid demonstration projects Amid the supply chain woes inflicted by the COVID-19 pandemic and slow recovery in manufacturing, global investments in renewable energy climbed to a record $226 billion in the first half of 2022 according…
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