Climate Change May Cause Nigeria to Lose Trillions of Dollars in Stranded Assets – Report A new report by Agora Policy, a think tank, has said that climate change may cause Africa’s biggest economy, Nigeria, to lose trillions of dollars in stranded assets. The report noted that the total economic cost of climate change to…
NUPRC meets with Operators to Address Challenges Around Feedstock Supplies To Domestic Refineries The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has met with operators of domestic refineries to address challenges around crude supplies to indigenous refineries. Domestic refiners, particularly modular ones, have been complaining of unavailability of feedstock, which is impacting negatively on their operations….
NIMASA teams with IMO and others against biofouling to protect marine environment The Nigerian Maritime Administration and Safety Agency (NIMASA) has joined forces with the International Maritime Organization (IMO) and the Maritime Technology Cooperation Centre (MTCC) Africa to address issues related to biofouling and protect the marine environment. Dr. Bashir Jamoh, the Director-General of NIMASA,…
Israel -Hamas Conflict: Oil Supply to Shrink by 6 to 8 million bpd Under Large Disruption Scenario – World Bank The World Bank has said that under a “large disruption” scenario like that witnessed during the Arab oil embargo in 1973, the global oil supply would shrink by 6 million to 8 million barrels per…
Lessons from the P&ID Case In a stunning victory for Nigeria, the High Court in London set aside the arbitration award obtained in January 2017 by P&ID; a British Virgin Islands registered company, against Nigeria. The award was originally for about $6.6bn but had increased to about $11bn as of the date of the court…
Wärtsilä Signs 5yr Renewal of O&M for Masbate Gold Project Technology group Wärtsilä has recently signed a five-year renewal of its Operation and Maintenance (O&M) Agreement with Phil. Gold Processing & Refining Corp for the Masbate Gold Project (MGP) power plant, situated on Masbate Island in the Philippines. Wärtsilä has been responsible for operating and…
Investment in Oil and Gas Currently Almost Double Level Required in the Net-Zero Emissions Scenario in 2030 – IEA The International Energy Agency (IEA) has said that investment in oil and gas in currently almost twice the level required in the Net-Zero Emissions scenario in 2030. According to IEA, this is a pointer that fossil…
Limited Gas Supply Causes National Blackout in Ghana A significant portion of Ghana is facing power shortages, leading to widespread darkness, primarily due to a shortage of gas needed to operate the machinery required for energy generation, as reported by the BBC. The Ghana Grid Company Limited (GRIDCo) has reported a supply gap of 550MW…
Petroleum Minister Advocates for Home-grown Solutions to Address Challenges Confronting Nigeria’s Oil & Gas Sector The Minister of State Petroleum Resources (Oil), Sen. Heineken Lokpobiri has charged stakeholders and experts in Nigeria’s oil and gas industry to come up with home-grown solutions to address the myriad of problems bedeviling the country’s oil and gas sector….
Vietnam Seeks Saudi Aramco’s Investment in Petrochemicals, Oil Refining Vietnam is seeking investment from oil giant Saudi Aramco in its petrochemical and oil refinery projects, the Southeast Asian country’s government said. Vietnamese Prime Minister Pham Minh Chinh on Thursday met with Aramco’s Yasser M. Mufti, its vice president of production and customers, on the sidelines…
