GCR Affirms Axxela’s Long-Term and Short-Term Issuer Rating of A-(NG)/A2 (NG), with a Revised Outlook to Positive Axxela Limited (“Axxela”), one of the leading energy solutions providers in Sub-Saharan Africa, has announced the upward revision by Global Credit Ratings (GCR) of Axxela’s national scale long-term issuer rating of A- from Stable to a Positive Outlook….
NNPCL Faults Customs claim on Fuel Consumption The Nigerian National Petroleum Company (NNPC) Limited has reacted to a claim by the Comptroller-General of Customs, Hameed Ali, that the figures released by the state oil company for the daily consumption of premium motor spirit (petrol) in the country is inflated. Speaking last Thursday when he appeared…
Russia Says it will Stop Selling Oil to Countries that Set Price Caps The Kremlin said on Friday that Russia would stop selling oil to countries that impose price caps on Russia’s energy resources – caps that Moscow said would lead to significant destabilisation of the global oil market. “Companies that impose a price cap…
Shell’s Bonga Best in Class- NAPIMS Boss The National Petroleum Investment Management Services (NAPIMS) has described the deep-water operations of Shell Nigeria Exploration and Production Company Limited (SNEPCo) as best in class. The Group General Manager of NAPIMS, the investment arm of the Nigerian National Petroleum Corporation Limited (NNPC), Mr. Bala Wunti, gave this commendation…
IBEDC Launches 24-Hour Metering Campaign in Ile-Ife The Ibadan Electricity Distribution Company (IBEDC) has launched its 24-hour ‘Mobile Map’ campaign in the ancient city of Ile-Ife, in a bid to reduce the process of metering for social and economic growth. The IBEDC crew moved round major parts Ile-Ife including Lagere, Sabo, Fajuyi, Moore, Enuwa, Ondo…
PIA: Good Collaboration Will Achieve Robust, Competitive, Transparent, And Profitable Oil And Gas Industry Says NDMPRA Nigeria Midstream And Downstream Regulatory Authority ,Chief Executive Officer , Engr.Farouk Ahmed has assured that good implementation of the PIA 2021 through quality collaboration will achieve a robust, competitive, transparent, and profitable Oil and Gas industry This he also…
Phase 2 of Senegal LNG project needs $5 bln The second phase of Senegal’s Greater Tortue Ahmeyim (GTA) gas project will need investments worth around $5 billion and could start in 2024 or 2025, Senegal’s President Macky Sall said on Thursday. BP (BP.L) and U.S.-listed Kosmos Energy (KOS.N) are leading the development of GTA and…
Oil Climbs Ahead Of OPEC+ Meeting Next Week Oil prices rose on Friday on expectations that OPEC+ will discuss output cuts at a meeting on Sept. 5, though concern over China’s COVID-19 curbs and weakness in the global economy loomed over the market. Brent crude futures rose $1.62, or 1.8%, to $93.98 a barrel by…
NGA Advocates Inclusion of Private Sector in Midstream Infrastructure Fund The leadership of the Nigerian Gas Association, NGA, the largest advocacy group for gas development in Nigeria has called for the expansion and inclusion of the private sector into the Mid-stream Infrastructure Fund for building oil and gas infrastructure in Nigeria. The Fund was recently…
PIA will Boost the confidence of Investors in Nigeria Energy Sector Quest Oil & Engineering Services Limited, an indigenous energy provider has said that the recently passed Petroleum Industry Act (PIA) will engender trust and enhance investors’ confidence towards achieving a successful transitioning of the Nigerian Oil and Gas industry. This assertion was made by…