– Expresses concern over Loss of $3b to smuggling of gold President Muhammadu Buhari has restated the Federal Government’s promise to tackle illegal mining activities. Buhari disclosed this in Abuja during the official presentation of locally mined sourced gold bars by the Presidential Artisanal Gold Mining Development Initiative (PAGMI). The President lamented Nigeria’s loss of…
By Ikenna Omeje Oil marketing companies have recommenced the importation of Premium Motor Spirit (PMS), also called petrol, bringing a total of 536,000 metric tonnes into the country directly, in response to the full deregulation of the downstream petroleum sector by the Federal Government in March. This was made known in a statement by the Executive…
By Ikenna Omeje The United Nations Environment Programme (UNEP) has said that coordinated international action on energy-efficient, climate-friendly cooling could avoid as much as 460 billion tonnes of greenhouse gas emissions (roughly eight years of global emissions at 2018 levels) over the next four decades. This is according to the Cooling Emissions and Policy Synthesis…
By Ikenna Omeje Samsung Heavy Industries (SHI) has said it is aiming to adopt Cloud, Big data and Internet of Things (IoT), among other advance technological tools to improve shipbuilding and operation methods in Nigeria. The company made this known in a statement on its official website. It said, “The company aims to use Cloud,…
By Ikenna Omeje A surge in domestic oil output and a jump in trading income cushioned Norway’s state-controlled Equinor against collapsing commodity prices in Q2, the company said on Friday, as it plunged to a loss and warned of more volatility ahead. Equinor’s Norwegian oil output increased 33 percent on the year in the second-quarter…
By Ikenna Omeje The Minister of State for Petroleum Resources, Timipre Sylva and the Saudi Arabian Minister of Energy, Abdulaziz Bin Salman, have reiterated their firm commitment to the agreement of Organisation of Petroleum Exporting Countries and its allies, known as OPEC+ , to cut production output for oil market rebalancing. It would be recalled…
By Ikenna Omeje Around $90 billion, or 40 percent of the revenue from the top 50 global service market, could potentially be replaced by energy transition projects, such as clean energy infrastructure and renewable energy production development services, Rystad Energy has said. The independent energy research and business intelligence company providing data, tools, analytics and consultancy…
By Ikenna Omeje The Federal Government has saved $400 million by removing fuel subsidy from the 2020 budget, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mele Kyari, has said. Speaking in an interview with ThisDay Newspaper, the NNPC Boss said it is unlikely that fuel subsidy will return despite the rising…
One of the biggest pipeline projects to be executed in Nigeria is the Obiafu/Obrikom to Oben Node Gas Transmission Pipeline System which forms part of the Nigerian Gas Master Plan. Following on its heels is the recently launched Ajeokuta-Kaduna-Kano (AKK) gas pipeline project. Both projects are being executed by the same contractor, Oilserv Limited, an…
Abuja, Nigeria, Friday, July 3rd, 2020 —- The Nigeria Natural Resource Charter (NNRC), a non-profit policy institute, committed to effective natural resource governance in Nigeria calls on the Federal Government to use the opportunity provided by the prevailing socio-economic situation nationally and globally to embark on complete overhaul of the country’s oil and gas sector,…
