Nigeria’s Oil Earning Dips 29% To N789bn in First Quarter Nigeria recorded significant decline in oil earnings in the first quarter of 2022, as petroleum revenue in the first three months of the year dipped by 29.15 per cent to N789.985 billion, compared with N1.115 trillion recorded in the previous quarter, October to December 2021,…
Local Content: NLNG Committed to improvement in Nigeria Nigeria LNG Limited (NLNG) has stated that it is committed to ensuring Nigerians benefit maximally from all its operations by going beyond mere compliance with Nigerian Content targets as set out in the Nigerian Oil and Gas Industry Content Development Act (NOGICD) 2010. NLNG’s Managing Director/Chief Executive…
Oil edges higher on prospect of OPEC+ supply cut Oil edged higher on Monday to extend last week’s gains as potential OPEC+ output cuts and conflict in Libya helped to offset a strong U.S. dollar and a dire outlook for U.S. growth. Saudi Arabia, top producer in the Organization of the Petroleum Exporting Countries (OPEC)…
Support for Fossil Fuels almost Doubled in 2021 Major economies sharply increased support for the production and consumption of coal, oil and natural gas, with many countries struggling to balance longstanding pledges to phase out inefficient fossil fuel subsidies with efforts to protect households from surging energy prices, according to analysis released today by the…
NEITI: Nigeria must Mainstream Transparency, Accountability Mechanisms in Energy Transition Agenda The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria must be prepared to mainstream transparency and accountability mechanisms into her energy transition agenda to avoid the pitfalls of her past and present energy circumstances. Dr. Orji who was represented by…
Chevron MD says Regulatory Framework is Key to Expanding Fortunes in the Oil Industry The Chairman and Managing Director of Chevron Nigeria Limited , Mr. Rick Kennedy has affirmed that a good regulatory framework is key to expanding the fortunes of Nigeria’s oil and gas industry while enabling the transition to energy solutions of the…
Nigeria to Save over 12 Trillion Naira in Deregulation The Group Managing Director, Rainoil Limited , Dr Gabriel Ogbechie has revealed that the country stands to save over 12 trillion naira, which could be channeled for other areas of development for the country if the downstream sector is fully deregulated He stated this while outlining…
DEEPENING NIGERIAN CONTENT OPPORTUNITIES IN THE DECADE OF GAS The Executive Secretary of the Nigerian Content Development and Monitoring Board, Engr. Simbi Kesiye Wabote, has announced the theme of the 11 th annual Practical Nigerian Content (PNC) Forum as “Deepening Nigerian Content Opportunities in the Decade of Gas”. In 2021, President Muhammadu Buhari launched the…
The Challenges In Power Sector Distribution It is no more news that Nigeria is in dire straits when it comes to power supplies, with poor regulatory environment, a fairly better Generation Companies, a Transmission that it is in straight jackets, and a Distribution subsector that has consumed all excuses available in the trick books to…
TNP not Operating, Undergoing Tests- Shell Shell Petroleum Development Company of Nigeria Limited (SPDC) said that the Trans Niger Pipeline (TNP) has not been in operation since June 2022 and undergoing tests. This is as the Dutch oil multinational has experienced two leaks in close proximity to the Trans Niger Pipeline in Bodo, Gokana Local…
