Aradel Holdings Acquires Stake in Chappal Energies, Expands Offshore Gas Investments. Aradel Holdings Plc has announced its acquisition of a 5.14% equity stake in Chappal Energies Mauritius Limited, an energy firm focused on deep value and brownfield upstream opportunities in Africa. The deal marks a strategic step in Aradel’s bid to diversify its asset portfolio…
UTM FLNG Signs UN Global Compact on Human Rights, Labour, Environment and Anti-Corruption UTM FLNG Ltd., the owner of Nigeria’s first indigenous Floating Liquified Natural Gas (FLNG) facility, has signed the United Nations Global Compact (UNGC), committing to uphold its Ten Principles on human rights, labor, environment, and anti-corruption. At a ceremony held on December…
NCDMB Signs Construction Contract with Julius Berger for Oloibiri Museum Project The Nigerian Content Development and Monitoring Board (NCDMB) has officially executed the engineering, procurement, and construction (EPC) contract with Julius Berger PLC for the development of the Oloibiri Museum and Research Centre (OMRC) in Otuabagi, Ogbia Local Government Area of Bayelsa State. The signing…
National Grid Collapses for the 12th Time in 2024, Highlighting Nigeria’s Power Sector Woes. Nigeria’s national power grid has experienced its 12th collapse of the year, leaving millions of citizens in darkness on Wednesday, December 11. This latest failure, which occurred around 2:09 PM, was confirmed by the National Grid’s official handle, which stated, “The…
OPEC Revises Down Oil Demand Growth Forecasts for 2024 and 2025. OPEC has once again lowered its forecasts for global oil demand growth in 2024 and 2025, citing weakened demand in China, India, and other regions. This marks the fifth consecutive downward revision for the producer group, underscoring ongoing challenges in the global energy market….
Collaboration Vital for Tackling Energy Challenges, Says NLNG Executive Mr. Nnamdi Anowi, General Manager of Production at Nigeria LNG (NLNG), has called for strengthened collaboration among governments, regulators, and private sector players to address the world’s pressing energy challenges. Speaking during the World Leaders’ Panel session at the 2024 World LNG Summit and Awards in…
Africa Needs Over $200 Billion Annually to Achieve Energy and Climate Goals, Says NLNG. The Nigeria Liquefied Natural Gas Ltd. (NLNG) has stressed the urgent need for over $200 billion in annual investments to meet Africa’s energy and climate targets, underscoring the continent’s critical position in the global energy transition. This was highlighted by NLNG’s…
Equinor Realizes $2 Billion from Exits in Azerbaijan and Nigeria Upstream Businesses Equinor has finalized transactions to exit its upstream businesses in Azerbaijan and Nigeria, realizing an estimated total consideration of up to $2 billion. These moves mark the end of more than three decades of operations in both countries and align with the company’s…
NSCDC Enhances Measures to Safeguard National Infrastructure in Lagos Lagos, Nigeria – The Nigeria Security and Civil Defence Corps (NSCDC) has implemented new strategies to protect critical national infrastructure and assets in Lagos State. The announcement was made by the state’s Commandant, Mr. Sunday Keshinro, during the 4th edition of the command’s Public Relations (PR)…
BP Seeks Buyers for U.S. Natural Gas Pipeline Stake to Reduce Debt BP is reportedly seeking buyers for a stake in its U.S. natural gas pipeline network, with the potential sale aimed at raising up to $3 billion, according to sources familiar with the matter. The move is part of CEO Murray Auchincloss’s strategy to…
