TotalEnergies makes oil and gas discovery offshore Nigeria TotalEnergies, an international oil company, IoC, has made a major oil find in Oil Mining Lease, OML102, offshore Nigeria. The oil find, popularly known as “the Ntokon-1AX discovery” has the prospect of sustaining a commercial production that would culminate in increasing Nigeria’s oil reserves. The nation’s oil…
Ghana Regains First Position in Gold Production – Lands Minister Ghana has regained her position as the number one gold producer in Africa after losing the position to South Africa in 2021 due to a drastic fall in output. According to the Minister of Lands and Natural Resources, Mr Samuel Abu Jinapor, gold production by…
Nigeria Navy Appoints New Co-Chair for Shade Gulf of Guinea Collaboration Key to Sustenance of Security – Jamoh The Chief of Naval Staff (CNS), Vice Admiral Awwal Zubairu Gambo, CFR has approved the appointment of Rear Admiral PE Effah as the new Co-Chair of the Gulf of Guinea Maritime Collaboration Forum Shared Awareness and De-Confliction…
Ghana: ECG Backs up Accra Power Supply …As President Inaugurates $40m 161kv Electricity Bsp President Nana Addo Dankwa Akufo-Addo yesterday inaugurated the newly constructed Accra Central Electricity Bulk Supply Point (BSP) with a firm commitment not to return the country to the era of ‘dumsor.’ The inauguration of 161KV BSP brings to four the number…
Savannah Energy Announces FY 2022 Audited Annual Results with 20% Increase Savannah Energy PLC, the British independent energy company focused around the delivery of Projects that Matter in Africa is pleased to announce its audited results for the year ended 31 December 2022. The results show that Savannah’s total revenues grew 26% to US$290.4m (from US$230.5m in 2021), ahead of previously issued guidance of US$215m. Adjusted EBITDA likewise rose 27% to US$222.4m (FY21: US$175m), and…
NNPC Limited Provides Clarity on 2021 Profit The Nigeria National Petroleum Company Limited, NNPCL, has offered clarification on the Profit After Tax, PAT, figures discussed by its Group Chief Executive Officer, GCEO, Mr. Mele Kyari, on Arise TV’s “The Morning Show”. Among the issues the GCEO discussed on the programme was the 2021 profit margin….
European Natural Gas Demand Drops as Top Economies Slow Despite a drop in natural gas prices in two years, Europe’s natural gas demand continues on a downward slope and fell in May from a year earlier as industries are slowing and major economies enter a recession. Natural gas demand in the biggest European economies –…
TotalEnergies to Speak On Exploration Campaign in Nigeria, Others At Aew TotalEnergies’ huge exploration campaigns in Nigeria and other parts of Africa has sustained the company’s assurances with promises of new opportunities for energy security in Africa especially on the back of oil and gas investment and development. It is based on these major investments,…
Tinubu signs Electricity Act 2023 into Law Barely ten days after his inauguration, President Bola Ahmed Tinubu has assented to the Electricity Act 2023. The Electricity Act will replace the Electricity and Power Sector Reform Act 2005. It is expected to provide a framework to guide the post-privatization phase of the Nigerian Electricity Supply Industry…
Nigerian Crude Takes New Hit As Buyers Turn to Cheaper Russian Grade Traders are flocking to the Urals crude blend because they see the Nigerian grades as relatively pricey, with traders reluctant to offload the country’s cargoes. Nigerian crude grades are failing to attract buyers from Europe, China and India as traders, to cut cost,…
