BRICS Expansion to Widen Renewable Energy Gap with G7 – Research A research by Rystad Energy has shown that the planned expansion of the BRICS bloc, through the addition of six new members, will transform the group into a global leader in renewable energy in the coming decades. BRICS is a group of five countries…
Ministry of Power, Energy Stakeholders Discuss Collaboration, Investment as Key to Solving Nigeria’s Electricity Challenges. The Federal Ministry of Power and stakeholders in the energy industry have highlighted collaboration and investment as key factors to tackle Nigeria’s electricity challenges. The key stakeholders including local and international players in the industry at the 10th-anniversary edition of…
Rivers Communities to Cripple Oil Production over Pipeline Surveillance Contracts. The Association of Niger Delta Upland Communities have vowed to cripple crude oil exploration and production activities in Rivers State, over the non-inclusion of people from upland communities as recipients of pipeline surveillance contracts. To this end, members of the group have begun picketing facilities…
NERC orders DisCos to Refund Customers The Nigerian Electricity Regulatory Commission (NERC) has ordered electricity Distribution Companies (DisCos) to reimburse customers who have paid for acquisition of meters under the Meter Assets Provider (MAP) scheme. The order was given by the commission in a document dated March 20, 2023, and signed by NERC Chairman, Sanusi…
Africa Accounts for Only 3% of Global Energy Investment – IEA Africa is home to about 1.2 billion people, making up one-fifth of the global population. But despite this, the continent accounts for just 3 percent of the global energy investment and a mere 2 percent of the world’s clean energy investment. This is contained…
NNPC Ltd. Makes Senior Management Changes In line with NNPC Ltd.’s commitment and drive for organisational renewal, anchored it’s business imperatives, standards of excellence, people development, and strengthening competencies and capabilities through broad-based leadership exposures, the company has announced the following executive appointments with immediate effect: Oritsemeyiwa Eyesan, Executive Vice President, Upstream, Olalekan Ogunleye, Executive…
Kyari says NNPC Retail Made N18.4 Billion in Q1/2023 from OVH Acquisition Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL) has said that NNPC Retail made N18.4 billion in the first quarter of 2023, after acquiring OVH Energy in 2022. Kyari said this while addressing the House of…
NBS says Inflation rises to 25.8% in August National Bureau of Statistics (NBS), said inflation rate rose from 24.08% in July 2023 to 25.80% in August 2023. This was contained in the Consumer Price Index (CPI) August 2023 Report, which the bureau released on its website. The report noted that in the period under review,…
PDVSA Values Citgo at Between $32 and $40 Billion Venezuela’s state oil major PDVSA has valued its U.S.-based downstream subsidiary Citgo at between $32 and $40 billion, Reuters has reported, citing a court hearing. The hearing precedes a planned share sale for Citgo in a bid to settle its massive debt load, estimated at some…
OPEC Daily Basket Price Stood at $94.09 a Barrel Tuesday The price of OPEC basket of 13 crudes stood at $94.09 a barrel on Tuesday, September 12, 2023, compared with $93.12 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes, ORB, is made up of the following: Saharan Blend (Algeria),…
