Foreign Investments Inflow in Oil Sector Dips By 96% to $2.54m The inflow of foreign investments into the Nigerian oil and gas industry stood at $2.54 million in the first half of 2022, dropping sharply by 96.3 per cent compared with $68.57 million foreign capital inflow into the sector in the same period in 2021….
CISLAC Expresses Worries in Critical Areas as Nigeria Celebrates 62 Years The Civil Society Legislative Advocacy Centre (CISLAC) commemorates with all Nigerians and government at all levels on the occasion of 62nd Independence celebrations. We on this occasion acknowledge and commend the sacrifices and aspirations of our founding fathers, who through their doggedness worked tirelessly…
56% of energy to be generated in APAC region by 2030 With the Asia-Pacific (APAC) region expected to generate over half of the world’s energy by 2030, leading data and analytics company GlobalData notes that energy decisions made by the leaders of APAC countries in the next few years will have significant impacts on the…
Local Content in Nigeria’s Oil and Gas Industry Hits 47% – Wabote Local content in the Nigerian oil and gas industry has reached 47 percent, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote, has said. Wabote who made the disclosure in an interview to mark his sixth-year in…
Largest Bank in Canada Warns Electricity Supply May Falter Without Government Intervention The Royal Bank of Canada (RBC) has said that the North American country would struggle to meet rising electricity demand in coming years without significant government intervention. Canada’s energy consumption was projected to climb by 50% in the next decade by RBC in…
Climate Agitators Gather to Create Lasting Change as COP27 Nears About 400 young climate mobilisers and organisers from across the Global South will be gathering at a “climate justice camp” in Tunisia to strategise and demand an equitable response to the climate crisis from stakeholders. A statement from the organisers of Climate Justice Camp obtained…
Nord Stream Pipeline Leaks Along Baltic Sea Were Punctured – Report A news report from Germany just disclosed that the pressure drops from Nord Stream pipelines along the Baltic Sea may have been due to attacks. Danish news outlet Tagesspiegel stated that the federal government of Denmark was not assuming a coincidence as two gas lines recorded…
US Energy Regulator Launches Plan to Deplete Industrial Heating Emissions The United States Department of Energy (DOE) has announced the launch of a new plan to drastically reduce industrial heating emissions by 85 per cent. The initiative, codenamed “Industrial Heat Shot,” was disclosed in a statement on the website of the DOE. According to the…
TCN Restores National Grid after Collapse The Transmission Company of Nigeria (TCN) said it has almost completed the restoration of the national grid after its collapse as a result of disturbance. TCN General Manager, Public Affairs, Mrs. Ndidi Mbah, made this known in a statement, said investigation was ongoing to unravel the cause of the…
Oil Prices Rise As Focus Turns to Possible Supply Cuts Oil prices rose on Tuesday, after plunging to nine-month lows a day earlier, on indications that producer alliance OPEC+ may enact output cuts to avoid a further collapse in prices. Brent crude futures for November settlement rose 65 cents, or 0.77%, to $84.71 per barrel…
