The Clean Development Mechanism (CDM), which has incentivized billions of dollars’ worth of investment in climate action and has registered thousands of projects throughout the developing world, has passed another milestone. As global negotiators were arriving in Bangkok for an important round of talks, the CDM Executive Board was wrapping up its 100th meeting, five…
The Permanent Secretary, Mines and Steel Development, Dr. Abdulkadir Mu’azu has said that the mandate of the Nigeria Geological Survey Agency (NGSA) is critical to the success of the Nigeria mining sector. Dr. Mu’azu said it is impossible to promote and achieve success in the sector without a functional, efficient, professional and well equipped geological…
The Permanent Secretary, Mines and Steel Development, Dr. Abdulkadir Mu’azu has called on all the Agencies under the Ministry to make use of the Integrated Automation and Interactive GIS Web Portal set up by the Ministry in other to showcase their operations and activities to the world. The Permanent Secretary made the call in his…
U.S. energy giant ConocoPhillips has asked Indonesia’s energy ministry to extend its operations in the Corridor natural gas block after its contract ends in December 2023, a ministry official said. ConocoPhillips (Grissik) Ltd had submitted a letter regarding its Corridor plans but still needed to submit a formal proposal, Oil and Gas Director General Djoko…
Brazilian state-run oil company Petroleo Brasileiro SA said it pre-paid, refinanced and raised new loans totaling $1.45 billion under a liability management exercise in August, according to a securities filing on Monday. The company said creditors involved in the refinancing effort included HSBC ,the Bank of China and the New Development Bank set up by…
Russia wants to curtail duty-free oil product flows to Belarus and is seeking a more transparent oil deal with the neighbouring country, Alexei Sazanov, head of the tax department in the Russian finance ministry, said in an interview. Russia, Belarus and Kazakhstan have a duty-free arrangement under which Moscow has been sending crude oil and…
Saudi Arabia’s sovereign fund has named Andrew Liveris, the former chairman and chief executive of Dow Chemical, as a special adviser, in its highest-profile appointment of any global manufacturing executive. Liveris will work closely with the Public Investment Fund (PIF) on matters of strategic importance, assist the fund in efforts to boost the value of…
03 September 2018, News Wires — Global stock markets fell for a third straight day on Monday, hurt by worries over the escalation of trade disputes between world powers and a deepening sell-off across emerging market currencies. With U.S. markets closed for Labor Day, trading activity was generally subdued. European shares were largely flat although London’s…
04 September 2018, Lagos — The Nigeria Security and Civil Defence Corps (NSCDC) in Lagos State on Monday said it had arrested 19 nationals of Benin Republic for alleged theft of over 50,000 litres of petroleum products. The NSCDC Commandant in the state, Mr Tajudeen Balogun, confirmed the arrest to newsmen while presenting the suspects and…
Mkpoikana Udoma 04 September 2018, Sweetcrude, Port Harcourt — The management of Port Harcourt Electricity Distribution Company, PHED, has entered in a partnership with the Rivers State Signage and Advertisement Agency, RISAA, to check erection of structures under high tension lines by members of the public. RISAA is a government agency that regulates outdoor signage and…
