RWE and UAE Invest $14 Billion in the UK for the World’s Largest Wind Farm UK Prime Minister Rishi Sunak welcomed the announcement of an £11 billion (US$13.9 billion) investment agreement between Germany’s RWE and United Arab Emirates’ state-owned renewables company Masdar during a brief 11-hour visit to Dubai for the COP28 conference on December…
Global Shipping CEOs Advocate for Maritime Decarbonization ‘Cornerstones’ at COP28 CEOs of prominent shipping lines globally came together at the UN Climate Change Conference, issuing a collective declaration advocating the implementation of four key pillars to drive decarbonization in maritime operations. They called upon the International Maritime Organization (IMO) to establish a regulatory framework that…
Red Sea Witnesses Multiple Attacks on Commercial Vessels In the southern Red Sea’s international waters, three commercial vessels were subjected to attacks, as confirmed by the U.S. military on Sunday. Concurrently, Yemen’s Houthi group asserted responsibility for launching drone and missile attacks on two Israeli vessels in the same region. The American destroyer, Carney, responded…
Atlantic LNG Restructuring in Trinidad Expected to Reduce Shell’s Stake and Boost BP’s, Sources Say Ownership in Trinidad and Tobago’s Atlantic LNG facility is set to change, with Shell’s stake diminishing. At the same time, BP and Trinidad’s state-owned National Gas Co are expected to increase their shares in a restructuring agreement to be signed…
Nigeria and Angola Decline OPEC’s Proposal for Oil Quota Reduction Nigeria and Angola have expressed their opposition to a reduction in their crude oil production quotas set by the Organization of the Petroleum Exporting Countries (OPEC). According to a Bloomberg report on Tuesday, OPEC faced challenges in resolving the deadlock over oil production quotas for…
Oil Ticks Down on Crude, Fuels Inventory Build Crude oil prices moved lower today, after the Energy Information Administration reported an estimated inventory increase of 1.6 million barrels for the week to November 24. This compared with a sizeable build for the previous week, at 8.7 million barrels, which pushed prices lower last week, contributing…
NAF Jet Destroys more Illegal Refining Sites, Boats, in Rivers The Nigerian Air Force (NAF), said it’s fighter jet under Operation Delta Safe, have destroyed an Illegal Refining Site (IRS) with equipment and reservoirs loaded with illegal products at Yellow Island near Bonny Island in Rivers State. NAF Director of Public Relations and Information, Air…
Maritime Stakeholders Brainstorm On Nigeria’s Trans-Border Trade Stakeholders of the Maritime sector are set to brain storm on the way forward for the country’s trans-border trade and how it could impact positively for the economic development of the nation. This gathering is billed to take place at the 2023 annual conference and awards of the…
Nigeria Plans to Establish Coast Guards for Enhanced Maritime Security, Says Oyetola Adegboyega Oyetola, the Minister for Marine and Blue Economy, has revealed intentions to establish coast guards as part of efforts to enhance safety and security in Nigeria’s waters. This announcement was made during a meeting held on Tuesday in London, where Oyetola engaged…
Tinubu Names Pius Akinyelure as Board Chairman of NNPCL, Retains Kyari as GCEO President Bola Tinubu has designated Chief Pius Akinyelure as the Chairman of the board of the Nigerian National Petroleum Company Limited. Concurrently, President Tinubu has reappointed Mallam Mele Kyari as the Group Chief Executive Officer of NNPC Limited, citing his outstanding performance…
