Chevron’s Venezuelan Oil Export Hopes Hit Snag Chevron’s plans to increase its crude oil exports from Venezuela have hit a snag, with the sanctioned South American country unable to bear the cost of dredging a key oil export inlet. Chevron’s Venezuela hopes to ramp up crude oil exports from the sanctioned country—but in order to…
Raising Finance Amid Political and Energy Transition At the eleventh Energy and Finance Forum of the energy think-tank, Centre for Petroleum Information (CPI), speakers and participants reached a consensus that both Nigeria’s ongoing political transition and the longer-term energy transition would impact on raising finance for the energy sector. Whether the impact would be adverse…
Nigeria: Market Driving Lots of Investments in Gas Infrastructure – GM Aggreko Teryima Toryila, General Manager, Aggreko Nigeria, a global supplier of mobile and modular power, has said that market is driving lots of investments in gas infrastructure. Toryila, however, opined that the government and other stakeholders have key roles to play to close gas…
Fight against corruption at Nigerian Seaports boosted as FG approves N180m for PSTT The Federal Ministry of Transportation says N180 million has been approved for the Port Standing Task Team (PSTT) to fight corruption and prevent other maritime crimes across the nation’s seaports. The Permanent Secretary of the Ministry, Dr. Magdalene Ajani, said this at…
Africa Must lend its Voice towards a Secure and Just Energy Transition – AVEVA Select AVEVA is a Global leader in industrial software , driving industrial transformation with the aid of artificial intelligence and human insight, through its partner AVEVA Select West Africa, has stated that the voice of Africa and other developing countries must…
African countries must join forces to diversify energy mix through AfCFTA- Kyari Mr Mele Kyari, the Group Chief Executive Officer, Nigerian National Petroleum Company Ltd. (NNPCL), has called on African countries to take advantage of the implementation of the African Continental Free Trade Agreement (AfCFTA). Kyari said this would help to diversify their energy…
IEA Highlights the need for oil and gas industry to cut emissions from its operations A new IEA report released today examines the immediate steps the oil and gas industry needs to take to significantly reduce its emissions footprint and help move the world closer to meeting its international energy and climate goals. The new…
Nigeria takes a stand on Gas Utilisation Nigeria will continue to explore the resource to meet its energy security, despite the push by climate activists and developed countries to displace fossil fuel, including natural gas for renewable energies. Stakeholders, including Vice President Yemi Osinbajo and Group Executive Officer of the Nigerian National Petroleum Company Limited,…
Nigeria To Explore Alternative Funding Model For Oil And Gas Industry The Nigerian Upstream Downstream Regulatory Commission, NUPRC says the Nigerian Government has concluded plans to explore alternative funding models for development of the country’s oil and gas resources. The Commission Chief Executive of NUPRC, Mr Gbenga Komolafe said this on Monday during the opening…
Chevron Beats Profit Estimates As Refining Margins Jump Despite a drop in oil and gas prices, Chevron Corporation (NYSE: CVX) beat analyst expectations in its first-quarter earnings, which rose on the back of higher margins on refined product sales. Chevron on Friday reported earnings of $6.6 billion, or $3.46 per diluted share, for the first…
