FG Targets N29trn from Revived Crude Oil Wells The federal government is targeting more than N29 trillion from the revived shut-in crude oil wells, which are estimated to produce about 2.1 million barrels of oil per day. Data obtained from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) in Abuja showed that about 900,000 barrels of…
1.8 billion litres of Petrol available for February and March – NNPC The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) says it has 1.805 billion litres of petrol in stock. Its spokesman, Garbadeen Muhammad, stated in Abuja that the volume of petrol in stock would last for 30 days. He disclosed that 805.35 million litres…
Zimbabwe-Rwanda U.S.$800 Million Energy Deal On Course Zimbabwe and Rwanda have made significant progress on the rural electrification programme with modalities for rolling out the US$800 million project almost complete. Last year, President Mnangagwa announced Rwanda had agreed to help Zimbabwe to fund the rural electrification programme to improve the lives of people residing in…
NIMASA DG Installed as the “Baatona” of Akure Kingdom The Deji of Akure, Oba Aladetoyinbo Ogunlade Aladelusi, Odundun II has installed the Director General of the Nigerian Maritime Administration and Safety Agency, (NIMASA), Dr Bashir Jamoh (OFR) as the Baatona of Akure Kingdom. According to the Honourable Minister of State Transportation, Prince Ademola Adegoroye, the…
OPEC+ Calls for Increased investment in the Oil Industry The Organisation of Petroleum Exporting Countries (OPEC+), is calling for increased investment in hydrocarbons. Haitham al-Ghais, secretary general of OPEC+, urged countries and companies to invest more in the oil industry to meet “the world’s future energy needs”, as reported by Bloomberg. He stressed that climate…
FAO Commits to Help Nigeria Achieve Greenhouse Gas Emission Reduction Target The Food and Agriculture Organisation of the United Nations (FAO) has committed to help Nigeria meet set targets towards achieving considerable reduction in the emission of greenhouse gases (GHGs) in the country. FAO’s support in this regard, as disclosed by the organisation’s representative in Nigeria,…
Cybersecurity; The New Normal A total of $706,452 has been paid in ransom to cybercriminals by Nigerian businesses, According to Sophos, in “The State of Ransomware 2022 report”. Industrial Control Safety Systems (ICSS) in Critical infrastructure are increasingly exposed to cyber-attacks because of the digitisation drive of the industry. As supervisory control and data acquisition…
U.S. To Receive 3 Million Barrels Of Venezuelan Crude Oil In February The United States is on track to receive nearly 3 million barrels of crude oil from Venezuela this month, according to shipping documents seen by Reuters. Chevron is on track to ship 100,000 barrels of Venezuelan crude oil per day into the United…
Europe’s Thirst for U.S. Crude to Stay High in 2023 Europe’s thirst for U.S. crude oil is expected to remain elevated, VP of Midstream for Chevron Corp stated this on the sidelines of the Argus Americas Crude summit. “A key change in flow is U.S. crude going to Europe. For this year, I’m pretty confident…
NNPC Ltd. Spends over N400bn on Fuel Subsidy Monthly – Kyari The Nigerian National Petroleum Company Limited, NNPCL, says the amount of money now spent on fuel subsidy has risen to over N400 billion monthly. Its Group Chief Executive Officer, GCEO, Mele Kyari, stated this at the company’s head-office in Abuja during the Final Cutover…
