The ongoing gas flare commercialisation programme of the Federal Government will attract $3.5bn worth of investments to Nigeria. In a reply to enquiries on the status of the programme, senior officials of the Federal Ministry of Petroleum Resources explained that inward investments valued at over $3bn would come into Nigeria through the Nigerian Gas Flare…
President Muhammadu Buhari, has assured that Nigeria would cooperate with member countries of the Organisation of Petroleum Exporting Countries (OPEC) to boost crude oil prices through reduction of oil output. Senior Special Assistant to the President on Media and Publicity, Garba Shehu, in a statement, said Buhari gave the assurance during audience with Mr. Ahmad…
The Federal Government paid a total of N1.628tn in the joint venture cash call from January to November 2018, latest data from the Nigerian National Petroleum Corporation have shown. The dollar allocation to the JV cash call account was $3.712bn while the naira portion was N496.703bn, according to the corporation. The nation’s oil and gas…
A final investment decision on Nigeria LNG’s Train 7 expansion project is not expected to take place until the middle of the year, at the earliest. NLNG had told Upstream previously that a final investment decision on the $7 billion project was being targeted for the end of 2018. Industry sources said that a front-end…
A High Court in London headed by Justice Andrew Burrows has granted Nigeria’s plea to allow it proceed with the trial of JPMorgan Chase. The bank is alleged to have enabled the misappropriation of state funds totalling $875 million over the Oil Prospecting License, OPL 245. Mr Salihu Isah, Special Adviser on Media and Publicity…
The volume of gas that is wasted by oil companies in Nigeria is enough to generate about 3,000 megawatts of electricity, the Federal Government has said. It also stated that the amount of gas flared by oil companies operating in Nigeria was sufficient to power two or three liquefied natural gas trains if harnessed. Senior…
The Minister of Power, Works and Housing, Mr Babatunde Fashola, says Nigeria is a continental and global leader in renewable energy. Home / Renewable Energy / Nigeria among leaders in renewable energy – Fashola Nigeria among leaders in renewable energy – Fashola 2 hours ago 0 Comments 69 Views The Minister of Power, Works and Housing, Mr Babatunde Fashola, says…
The Nairobi-based African Academy of Sciences (AAS) on Thursday, February 21, 2019 launched a programme to boost management of research that addresses the continent’s development needs. A statement from AAS said the Research Management Programme in Africa (ReMPro Africa) will strengthen capacity of institutions to manage cutting edge research and innovations. “It is a response…
Minister of Environment, Alhaji Suleiman Zarma, says there is an urgent need to recover and conserve the country’s land as 924,000 square metres is lost to degradation daily, while the population keeps growing. Zarma said this in a statement issued by Mrs Pauline Sule, the Head of the Press and Public Relations Unit, National Agency for the Great…
A new World Bank report shows that investments of 4.5 per cent of Gross Domestic Product, GDP, is required to allow developing countries achieve their infrastructure-related Sustainable Development Goals and stay on track to limit climate change of up to 2°C. Beyond the Gap, also finds infrastructure investment compatible with full decarbonisation need not cost more…