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…
NNPC, Shell, Other Stakeholders Renew PSC Offshore Agreements Nigerian National Petroleum Company (NNPC) Limited has executed agreements for the renegotiated Production Sharing Contracts (PSC) with contractors with key stakeholders. When consummated, it is believed the agreement would unlock over $500 billion in revenue to government from the country’s oil resources. Aside the revenue opportunities, NNPC…
NMDPRA says Gas has Penetrated in Nigeria as Energy Transition Dr. Zainab Gobir, Executive Director of Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA), said current energy transition is a pathway toward transforming the global energy sector from fossil to renewable fuels by the second half of this century. Dr. Zainab Gobir represented the Authority…
MOMAN says Subsidy cannot be Sustained in Nigeria Downsream The Petroleum Industry Act, 2021 is an excellent piece of legislation which was extremely well thought through. We are now at the point of implementation, which is taking a bit longer than hoped but this is not necessarily a bad thing. The President postponed the implementation…
