ExxonMobil earns $11.4 billion in first quarter of 2023 Leading energy company, Exxon Mobil Corporation today announced that it earned $11.4 billion which is $2.79 per share assuming dilution in its first-quarter 2023 report. The company disclosed this in a recent press release on its official website, stating also that the earnings demonstrate structural earnings…
Tanzania Inches Closer to Long-Held Power Dream Tanzania’s long-standing endeavour to have adequate and reliable electricity supply through the 2,115-megawatt Julius Nyerere Hydropower Project (JNHPP) is close to becoming a reality with the dam’s construction reaching 86 percent of completion. This is a huge step towards the completion of the mammoth project, whose completion will…
NNPC, Norway’s Golar sign MoU on floating gas plant Mele Kyari, chief executive of Nigerian National Petroleum Corporation and Norway’s Golar CEO Karl Fredrik Staubo sign a memorandum of understanding in Abuja, Nigeria, April 26, 2023 [Courtesy: NNPC via Twitter] Nigeria’s state oil firm, NNPC has signed a memorandum of understanding (MoU) with Golar LNG…
TotalEnergies Power 250 Filling Stations with Solar TotalEnergies has said 50 percent of its more than 500 filling stations scattered across the country run on solar energy. The Deputy Manager of Deepwater, TotalEnergies E&P, Victor Bandele, revealed this at the just concluded Nigerian International Energy Summit held in Abuja. Speaking during a session themed ‘Building…
NMDPRA urges petroleum operators to comply with regulatory laws The Chief Executive Officer of Nigerian Midstream and Downstream Petroleum Regulatory Authority, (NMDPRA), Mr Farouk Ahmed, has urged petroleum products dealers to operate within the regulatory space. Ahmed said this on Wednesday at a stakeholders engagement on Gas Utilisation in Nigeria held in Enugu, Nigeria. The…
TCN threatens to sanction erring electricity market participants The Transmission Company of Nigeria (TCN) has threatened to sanction erring electricity market participants, having given them notices and time to comply with the market rules. The market participants in the power sector are the generation, transmission and distribution companies. TCN’s Market Operator (MO), Mr Edmund Eje,…
Petrol price increases by 42.63% a litre in one year – NBS The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol has increased from N185.30 in March 2022 to N264.29 in March 2023. It made the declaration in its Petrol Price Watch for March 2023 released in Abuja…
NCDMB, NLNG plan 1.2 million gas cylinders annually Discussions are currently ongoing between the Nigerian Content Development and Monitoring Board and the Nigerian Liquefied Natural Gas Limited for the production of 1.2 million gas cylinders every year. The Executive Secretary, NCDMB Simbi Wabote, revealed this on the sideline of a media conference in Abuja announcing…
ARDA task Stakeholders to look beyond CBN funding for downstream operations The African Refiners and Distributors Association (ARDA) has called on petroleum products marketers and other operators in the downstream segment of the oil and gas industry sector to look beyond interventions by the Central Bank of Nigeria to survive. The Executive Secretary of the…
Carbon management challenge a big step forward – IEF The Carbon Management Challenge announced by the White House is a big step forward in the battle against global warming, according to Joseph McMonigle, the IEF Secretary General. US President Joe Biden joined other leaders in the Major Economies Forum last week to announce the Carbon…
