Anticipated Trends in the Oil Market and Their Implications for Africa As the African Energy Chamber reports in our newly released “The State of African Energy 2024 Outlook,” we are forecasting a “relative calm” in the liquids market for the remainder of 2023 Access Multimedia Content Six months after the World Health Organization (WHO) declared…
Shell Bags Medals at NAPE Conference Shell Companies in Nigeria (SCiN) and staff won several awards at the 41st annual international conference and exhibition of the National Association of Petroleum Explorationists (NAPE,) in Lagos, in recognition of an educative exhibition and insightful technical presentations. According to a statement by the Media Relations Manager, Abimbola Essien-Nelson,…
NSCDC Busts Crude Oil Thieves in Rivers, Destroys Illegal Refinery The Nigeria Security and Civil Defence Corps (NSCDC) has dismantled an illegal refinery in the Egbede area of Onelga LGA, Rivers State. Two suspects, Joseph Peter and Evans Okorie, were arrested in connection with the operation. The NSCDC’s Special Intelligence Squad apprehended the suspects, recovering…
ABS Advisory Council Gains Valuable Perspectives on the Future of Maritime during Annual Meeting The maritime industry is facing significant uncertainty shaped by changes in the regulatory framework and evolving factors such as safety, fuel availability, scalability, and ship-to-port infrastructure. This message was conveyed during the annual ABS Advisory Council Meeting on November 14, where…
Picking Up Steam: Africa will Overtake Europe in Geothermal Capacity by 2030, $35 billion Investments by 2050 – Rystad Energy Africa’s geothermal sector will attract at least $35 billion in investments by 2050, showing the critical role geothermal is set to play in meeting the continent’s rapidly growing energy demand. Rystad Energy’s latest projections reveal…
Nigeria Firmly Committed to 2060 Energy Transition Plan – House of Reps The Chairman of the House of Representatives Committee on Climate Change, Hon. Chris Nkwonta, has affirmed his dedication to facilitating Nigeria’s attainment of the target to achieve net-zero greenhouse gas emissions by 2060, as outlined in the nation’s energy transition plan. Nkwonta who…
Nigeria Withdraws $1.1 bln Claim against Eni on Oilfield Deal Nigeria is withdrawing civil claims totalling $1.1 billion against Italian energy group Eni and related to allegations of corruption in a oilfield deal, Bloomberg News reported on Thursday. The West African country’s justice ministry will waive the claims before Italy’s highest court “unconditionally” and “with…
Customs Lost N1.3tn to Waivers – Adeniyi The Comptroller-General of Customs, Adewale Adeniyi, has stated that the Nigeria Customs Service (NCS) lost N1.3 trillion to waivers and concessions granted to investors during the administration of former President Muhammadu Buhari this year. Adeniyi made this statement during a public hearing organized by the Senate joint committee…
Eni Unveils Luiss University International Network Eni and Luiss University have launched the International Network on African Energy Transition (INAET) in Rome. This network brings together major institutions, universities, think tanks, and scholars from Africa, Europe, and worldwide to create a common hub for the continent’s energy transition. Africa, with some of the world’s fastest-growing…
Virtual Power Plants Gain Momentum for Optimal Energy Management Virtual Power Plants (VPPs), serving as cloud-enabled distributed energy systems, are emerging as a practical solution to innovate the energy landscape. These systems enable the seamless integration of renewable energy with advanced digital technologies, addressing the challenges of energy management and distribution. The popularity of VPPs…
