NDPHC Decries Low Invoice Payment for Energy Generated The Managing Director and Chief Executive Officer of Niger Delta Power Holding Company Limited, (NDPHC), Chiedu Ugbo, has decried low invoice payment for energy generated. The GenCo is owed over N180bn debt. According to Ugbo, huge indebtedness had impacted on the speed at which the company would…
Over 200,000 Graduates Targeted as NNPC Foundation Trains Corps Members on Financial Literacy The Nigerian National Petroleum Company (NNPC) Foundation has trained the Batch C members of the National Youth Service Corps (NYSC) in basic financial literacy skills. The training was done in partnership with Kudimata Nigeria Limited, a financial education outfit. The target is…
IMarEST 2023: Experts Deliberate on Maritime Decarbonization As the call for lower carbon emissions intensifies, leaders and professionals across the maritime industry, energy, digital, offshore wind, and academia have deliberated on how to achieve marine decarbonization. The experts who emphasized the importance of digitization and electrification in achieving maritime decarbonization gave their opinions at the…
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…
