CBN Appoints Pre-Shipment Monitoring Agents for Oil and Gas Exports In a significant development aimed at bolstering oversight in Nigeria’s oil and gas export sector, the Central Bank of Nigeria (CBN) has appointed pre-shipment monitoring and evaluation agents across the country. According to a circular, TED/FEM/PUB/FPC/OO1/014, dated May 13, 2024, issued by Dr. Hassan Mahmud,…
Nigerian Navy Deploys Eight Warships to Combat Sea Piracy in Gulf of Guinea. In a bid to tackle the persistent challenge of sea piracy in the Gulf of Guinea (GoG), Nigeria has deployed eight elite Navy warships to join a global joint naval operation. The announcement was made by Nigeria’s Chief of Naval Staff, Vice…
Tinubu commissions Funtua Inland Dry Port to support economic diversification. President Bola Ahmed Tinubu, represented by Senator George Akume, presided over the official commissioning of the Funtua Inland Dry Port in Katsina State on Thursday. The ceremony marked a significant milestone in Nigeria’s economic development, with the port expected to play a pivotal role in…
President Tinubu Appoints Minister Ekpo as Co-Chairman of NCDMB Governing Council. In a move aimed at enhancing efficiency and oversight in Nigeria’s oil and gas sector, President Bola Tinubu has appointed Mr. Ekperikpe Ekpo, the Minister of State for Petroleum Resources (Gas), as the Co-Chairman of the Governing Council of the Nigerian Content Development…
Expert Encourages FG to Establish Enabling Environment for Oil and Gas Investment. Mr. Usman Mohammed, the Chief Executive Officer of New Energy Services Company Ltd., said, “The market is not waiting for Nigeria, hence contract projections, especially revenue are mostly impacted due to delays in the series of layers involved in approval processes.” He added,…
Ubah Urges FG to Prioritize Modular Refineries to Address Fuel Scarcity Senator Ifeanyi Ubah, Chairman of the Senate Committee on Petroleum (Downstream), has urged the Federal Government to prioritize the development of modular refineries as a key strategy for addressing Nigeria’s fuel scarcity challenges. Speaking at the ongoing Offshore Technology Conference in Houston, Texas, U.S.,…
Collaboration Between Public and Private Sectors Essential to Achieving Energy Goals – Ekpo Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, has emphasized the need for enhanced collaboration between the public and private sectors to effectively realize the nation’s energy objectives. Speaking at the official presentation of the Gazettes on National Energy Policy…
Alake Appeals to Senate for Support on Exploration Fund. The Minister of Solid Minerals Development, Dr. Dele Alake, has appealed to the Senate for increased funding to bolster the ministry’s capacity for thorough exploration of Nigeria’s extensive mineral reserves. Addressing the opening session of the investigative hearing of the Senate Committee on Solid Minerals, Dr….
Shell pays Nigerian government $1.09 billion in taxes, royalties in 2023 Last year, Shell made exclusive payments totaling $1.09 billion in corporate taxes and royalties to the Government of Nigeria, facilitated through the operations of The Shell Petroleum Development Company of Nigeria Ltd (SPDC) and Shell Nigeria Exploration and Production Company of Nigeria Ltd (SNEPCo)….
Shell to sell interest in Singapore Energy and Chemicals Park to CAPGC Shell Singapore Pte Ltd, a subsidiary of Shell plc, has agreed to sell its Energy and Chemicals Park in Singapore to CAPGC Pte. Ltd., a joint venture between Chandra Asri Capital Pte. Ltd. and Glencore Asian Holdings Pte. Ltd. This deal involves the…
