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…
US-Sanctioned Tankers Allegedly Provide Russian Oil Supply to India According to shiptracking data from LSEG, Kpler, and trade sources, three oil tankers that were recently sanctioned by the U.S. regularly shipped Sokol crude from Russia’s Far East to Indian Oil Corp (IOC.NS), India’s top refiner, in recent months. The U.S. imposed sanctions on these maritime…
NCC DG Commends Project Train 3M for Promoting ICT Skills The Executive Vice Chairman and Chief Executive Officer (EVC/CEO) of the Nigerian Communications Commission (NCC), Dr. Aminu Maida, has commended the proposal by the Minister of Communications, Innovation, and Digital Economy, Dr. Bosun Tijani, to enlist and train three million Nigerians in ICT over four…
Maritime Workers Reaffirm Opposition to Ports and Harbour Bill The Maritime Workers Union of Nigeria (MWUN) has reiterated its opposition to the Ports and Harbour Bill currently before the National Assembly. The union contends that the proposed bill is structured to favor a select few individuals at the expense of the majority of Nigerians. This…
Oil Prices Decline Amidst U.S. Crude Buildup and Concerns Over China’s Demand Oil prices experienced a slight decline on Thursday, continuing the losses observed in the previous session. This dip was attributed to indications of increased supply from the United States coupled with concerns about subdued energy demand in China. As of 1101 GMT, Brent…
3% PIA Funds: Host Communities Warn of Potential Disruption to Oil Production Host communities in Bayelsa State have issued a stern warning, threatening to disrupt oil production across the state unless the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) refrains from actions that might hinder the distribution of the three per cent host community fund as…
South Korea Commits Support for the Advancement of Nuclear Power in Ethiopia The Republic of Korea (RoK) has committed to supporting Ethiopia in the development of civilian nuclear power. This pledge was made by the Ambassador of the Republic of Korea to Ethiopia, Kang Seokhee, during a seminar held at the Korean Embassy. The seminar…
EU Legislation Pressures Foreign Oil and Gas Producers to Reduce Methane Emissions The European Union (EU) has recently implemented a methane import standard, establishing emissions limits on oil and gas imports to Europe from 2030. This legislation puts pressure on international suppliers to take measures to reduce leaks of methane, a potent greenhouse gas. Methane…
