SNEPCo Paid More than $900 Million in Taxes, Royalties in 2022 Shell Nigeria Exploration and Production Company (SNEPCo) paid a total of $907 million as taxes and royalties to the Nigerian government last year as its operations continued to contribute to the national purse to finance development. Also last year, the company and its partners…
The IEA Believes Oman Could Become a World Leader in Hydrogen Oman could turn into one of the biggest hydrogen suppliers in the world, the International Energy Agency has forecast in a recent report. The tiny Gulf sultanate currently generates some 60% of its export earnings from oil and gas but has set itself ambitious…
UN Nuclear Watchdog Returns to Zaporizhzhya amid Escalating Security Concerns An International Atomic Energy Agency (IAEA) mission led by the head of the UN nuclear watchdog, Rafael Grossi, has arrived at the Russian-occupied Zaporizhzhya nuclear power plant for an inspection amid growing concerns about the safety of Europe’s largest nuclear station following last week’s breach…
WTI Plunges 4% Ahead of Fed Rate Decision Oil markets have kicked off the new week on a sour note with both Brent and WTI crude sliding over $3 per barrel after Goldman Sachs’ latest call. Last week, Goldman Sachs’ oil ultra-bull Jeff Currie once again lowered his Brent forecast for December, this time to…
NPA Commissions Rehabilitated Apapa, Tin Can Ports Control Towers The Nigerian Ports Authority (NPA) on Thursday commissioned the control towers it rehabilitated at the Lagos Port Complex Apapa and the Tin Can Island Port Complex, both in Lagos. The Managing Director of NPA, Mohammed Bello-Koko, during the commissioning ceremony, said that the towers will ensure…
All On, GEAPP Commits $11 Million to Support 25 Mini-grid Projects in Nigeria Shell funded impact investment company, All On, through its Demand Aggregation for Renewable Technologies (DART) program, has announced its commitment of $11 million to support 25 mini-grid projects in Nigeria. This was made known at an inaugural DART workshop with off-grid developers,…
PHED Makes Profit of N6.3bn Revenue in May 2023 In what is considered a rare situation with electricity management in Nigeria, The Port Harcourt Electricity Distribution Plc, PHED, has recorded revenue of N6.3billion from electricity bills collection in the month of May 2023, the highest revenue collection ever in its history. The N6.3billion revenue…
EU Won’t Extend Emergency Energy Measures, Despite Soaring Inflation. Emergency energy price measures implemented by the European Union in 2022 will not be extended further, the European Commission said earlier this week, bringing to an end hundreds of billions of dollars in tax cuts, subsidies and other incentives. Citing electricity prices that have dropped to…
UK Grid Operator Enables Renewables Producers to Connect New Projects Developers of new renewable energy projects could be empowered to build their own connections to the grid, as part of a series of reforms unveiled recently by National Grid’s electricity system operator (ESO). To help frustrated firms beat the extensive queues for connections, ESO has…
Lukoil Raises Oil Output at Iraq’s West Qurna 2 To 480,000 Bpd -Oil Official Russia’s Lukoil has increased oil production at Iraq’s southern West Qurna 2 oilfield by 80,000 barrels per day (bpd) to a total of 480,000 bpd, an oil official told Reuters last week. Production rose after the completion of the connection of…
