Former Militant Leaders Urge Tinubu to Investigate Pre-Sale of Crude Oil During Buhari’s Tenure The ex-agitators in the Niger Delta region have called on President Bola Tinubu to investigate allegations that, towards the end of President Muhammadu Buhari’s administration, crude oil was sold upfront, and the proceeds were misappropriated. This request suggests a call for…
U.S. Crude Oil Prices Drop Following OPEC’s Meeting Postponement U.S. crude prices experienced a decline following the postponement of a crucial meeting on production cuts by the Organization of the Petroleum Exporting Countries (OPEC). The West Texas Intermediate (WTI) contract for January initially dropped about 5% to $73.85 a barrel in the morning but later…
NLNG Dividend to NNPC Reaches Eight-Year Peak Official data reveals that the dividend paid by the Nigerian LNG Limited (NLNG), the largest gas exporter in Nigeria, to the Nigerian National Petroleum Company Limited (NNPC) has reached its highest level in eight years. In 2022, NLNG’s revenue increased by over a third, reaching $7.59 billion, the…
NUPRC Issues Warning Against Disruptive Actions Affecting Gas Flare Commercialization Plans The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) issued a warning on Monday to players in the oil and gas industry, cautioning against obstructing the Nigerian Gas Flare Commercialisation Programme (NGFCP). The NGFCP is designed to eliminate routine gas burning in the country. Mr. Gbenga…
EU Taxpayer Support Possible for Equinor, Shell, and RWE’s Fossil Hydrogen Expansion in Europe A leaked document and analysis by Global Witness indicate that a proposed pipeline by Equinor to export fossil hydrogen from Norway to Germany could receive EU subsidies. The project would depend on new hydrogen plants producing “blue hydrogen” from fossil gas,…
Kenya Adopts Cloud-First Strategy, inks Deal with Microsoft The ICT Authority of Kenya has signed a Memorandum of Understanding with Microsoft anchored on enhancing Kenya’s digital transformation agenda. Under the MOU, Microsoft will assist the Government with adopting a Cloud-First strategy, transforming public service delivery through the adoption of technology and improving efficiencies in provision…
Agency Reports Containment of Oil Spill near Egina Field Nigerian authorities, including the Nigerian Maritime Administration and Safety Agency (NIMASA), are actively working to contain an oil spill that occurred during loading operations at the TotalEnergies-operated Egina field. The spill was reported on November 15, and while the volume is yet to be confirmed, TotalEnergies…
Germany Commits 4 Billion Euros to Africa’s Green Energy; AfDB President Advocates Strengthened Partnership The government of Germany has committed to investing 4 billion euros in Africa’s green energy sector until 2030. German Chancellor Olaf Scholz made this announcement during the G20 Compact with Africa conference in Berlin. The Compact with Africa, initiated by Germany…
Petrobras management under ‘worrying’ political pressure Says Union Petrobras (PETR4.SA) workers union FUP on Tuesday lashed out against alleged “political actions” aimed at pressuring the state-run Brazilian oil company’s top management, saying in a statement they were “worrying” and would weaken the firm. FUP’s remarks come a day after Reuters reported, citing sources, that officials in the…
Report Reveals Federal Government’s $16 Trillion Loss to Gas Flare Over a Decade Over 10 years, from 2012 to 2022, the Federal Government has incurred an estimated loss of approximately $16 trillion due to natural gas flaring, according to the Energy Institute’s 72nd edition of the ‘Statistical Review of World Energy 2023.’ A breakdown of…
