OPEC Projects World Oil Demand Growth to Increase by Around 3.7 mb/d. The Organisation of Petroleum Exporting Countries (OPEC) has projected world oil demand growth to increase by around 3.7 mb/d to average 100.5 mb/d in 2022. The Punch reports that OPEC stated this in a statement to the International Monetary and Financial Committee meeting…
NNPC, TotalEnergies Commission Four Projects in South-South The Nigerian National Petroleum Company, NNPC, Limited and TotalEnergies have commissioned and handed four projects ranging from maternal healthcare centre, to solar-powered water in four Southern states this month. The successful commissioning of the projects comes on the heels of four projects equally handed over to four South-Eastern…
PIA Steering Committee, NUPRC Unveil Six Draft Regulations for Oil Industry The Presidential Steering Committee on the Petroleum Industry Act (PIA) and the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) have unveiled six draft regulations for the Nigerian oil industry. This is eight months after President Muhammadu Buhari assented the Petroleum Industry Bill (PIB), now PIA….
US-Gulf relations hit new low as White House stops asking Saudi Arabia to pump more oil to offset Biden’s Russian energy ban – Report The White House has given up asking Saudi Arabia to pump more oil after being repeatedly rebuffed by the kingdom, The Wall Street Journal reported Tuesday, the latest sign of a…
Many European countries increased imports of Russian oil in April despite sanctions on Russia, because of its continued invasion of Ukraine. Russia in February invaded Ukraine, a war that has escalated geopolitical tensions and led to disruptions in supplies of products and services. Russia accounts for about one-third of oil supply to Europe and about…
The President of South Africa, President Cyril Ramaphosa is set to attend Mining Indaba 2022, Investing in African Mining Indaba, taking place in Cape Town from 9 – 12 May 2022. The President will deliver a Keynote Address on Tuesday, 10 May. The President’s attendance, along with Minister of Mineral Resources and Energy Gwede Mantashe,…
What does High Oil Price Mean to Nigeria? Since 2021, oil price has been increasing due to OPEC’s decision to maintain a 400,000 additional output to the market every month. Amid the price war between Russia and Saudi Arabia as well as the impact of Covid-19 pandemic in the first quarter of 2020, OPEC+, agreed…
Environmental, Social and Corporate Governance ESG an imperative for long term mining in Africa have taken a prominent role in decision-making across the African mining sector, with intensified awareness from all stakeholders. This is why the 2022 Investing in African Mining Indaba will be exploring what ESG means in practice for Africa’s mining operators, communities…
The 21st edition of Nigeria’s foremost energy event, NOG Conference and Exhibition is set to hold in person at the International Conference Centre, Abuja from 4 – 7 July 2022 with Experts To Discuss Global Opportunities For Nigeria Energy Sector At NOG 2022 . DMG Nigeria events, the organisers of the event stated that NOG 2022…
REAN Gets New Executive Secretary – Salamatu Baba Tunzwang, a seasoned project manager and business development consultant, is now the new Executive Secretary of the Renewable Energy Association of Nigeria (REAN). A statement by the Head of Communications at REAN, Chioma Ome, said that Tunzwang whose work experience spans across telecom, banking, and development sectors…