NERC, Stakeholders Express Worry over Electricity Regulations The Nigerian Electricity Regulatory Commission (NERC) and key players in the Nigerian power industry are urging a reassessment of the Nigerian Electricity Act (2023). They underscore the importance of establishing a cohesive and uniform regulatory framework to prevent the proliferation of 37 different electricity industry regulations at the…
Baker Hughes Expresses Interest in Nigeria’s Refining Industry Baker Hughes, a global oil and gas conglomerate based in Houston, United States, has expressed a strong interest in investing in Nigerian refineries. This development aligns with the Nigerian federal government’s intensified efforts to reduce dependence on imported petroleum products. The company is also eyeing participation in…
TotalEnergies’ Technology to Help 3 Nocs Check Methane Emissions On the occasion of the “Eliminating Methane Emissions by 2030” roundtable partnered by the COP28 Presidency, TotalEnergies announces the signing of three cooperation agreements with National Oil & Gas Companies (Petrobras in Brazil, SOCAR in Azerbaijan and Sonangol in Angola) to carry out methane detection and…
NCDMB Takes Campaign of Enlightenment to Okrika The Nigerian Content Development and Monitoring Board, NCDMB, has engaged the womenfolk in Okochiri, Okrika Local Government Area of Rivers State, in an enlightenment drive aimed at raising awareness on the Nigerian Oil and Gas Industry Content Development, NOGICD, Act, 2010, and its benefits to communities and the…
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…
