Nigeria can generate 427,000MW from solar – Gencos According to power generation companies in Nigeria, the country has the potential to generate 427,000 megawatts of electricity from solar energy. Currently, Nigeria only generates less than 5,000MW for its population of over 200 million. The Chief Executive Officer of the Association of Power Generation Companies, Joy…
Nigerian Navy explains role in operation of vessel arrested with ‘stolen’ crude The Nigerian Navy said the vessel arrested for allegedly transporting stolen crude on Thursday was certified by the agency of government responsible for regulating midstream and downstream petroleum operations in Nigeria. The Navy in a statement said the vessel “MT PRAISEL was duly…
Eni revokes Force Majeure Status on Three Exploration Assets in Libya Italian energy giant, Eni, on Thursday, said it has formalised with its Libyan counterpart NOC the revocation of force majeure status on three exploration assets in Libya. The assets include A and B (onshore), and C (offshore), where Eni is the operator with a…
Russia to Cut Oil Exports by 300,000 bpd in September Russia will cut oil exports by 300,000 barrels per day in September, Deputy Prime Minister Alexander Novak has announced. Russia has already pledged to cut oil output by around 500,000 bpd from March until year-end. “Within the efforts to ensure the oil market remains balanced…
NCDMB Offers First OEMs Companies, Investors Privileges at Oil Parks The first original equipment manufacturers (OEMs), service companies and other oil and gas firms that would set up operations in the Nigerian oil and gas parks would enjoy certain first mover privileges, the Nigerian Content Development and Monitoring Board (NCDMB) has assured. NCDMB’s Director of…
Eni’s Net Profit Falls, but Beats Consensus on Strong Gas Business Italy’s Eni (ENI.MI) said its second quarter adjusted net profit dropped 49% from last year, reflecting falling oil and gas prices and weaker refining margins. Adjusted net profit in the period came in at 1.94 billion euros ($2.13 billion) down from a bumper result…
NCDMB takes Nigerian Content Sensitization to Bench, Bar in Rivers As part of its sustained effort to raise awareness on the Nigerian Oil and Gas Industry Content Development (NOGICD) Act among critical stakeholders in the oil and gas industry, the Nigerian Content Development and Monitoring Board (NCDMB) held a one-day sensitisation workshop for members of…
Construction of Ondo Oil and Gas Park to start, NCDMB assures Govt, Investors Actual construction of a low-cost manufacturing hub for equipment components and spare parts used in the oil and gas industry will start in Ondo State soonest, according to the Nigerian Content Development and Monitoring Board (NCDMB). Located at Ilaje, Ilaje Local Government…
MicCom to Partner OGTAN towards Encouraging Local Content Development Initiatives Picture Caption: Bukola Adubi speaking during a panel session at the just-concluded NOG Energy Week MicCom Cables and Wires Limited is set to partner with the Oil and Gas Trainers Association of Nigeria (OGTAN) to take on training and technology transfer opportunities with Nigerian students…
INTELS Donates Fully Equipped Fashion Design Facility To WEPSS Beneficiary Nigeria’s oil and gas logistics giant, INTELS Nigeria Ltd has donated a fully furnished and equipped fashion and tailoring shop to Esther Wehere, an indigene of Rivers State. Wehere emerged as the Best Graduating Student, 2022 Batch ‘B’ of INTELS’ Women Empowerment Project Scheme Synergy…
