By Ikenna Omeje Nigerian Agip Oil Company’s (NAOC) parent company, Eni, has been included, for the third year in a row, in the top 10 of the best performing companies for its sustainability reporting. This is according to the World Business Council for Sustainable Development’s (WBCSD) analysis that assessed 168 leading global companies, a release…
By Gabriel Mbaga Obiang Lima, Minister of Mines and Hydrocarbons of Equatorial Guinea Since Ireland in 2018 became the first country to say it would divest entirely from fossil fuels, governments, activists, and agencies worldwide have begun reciting the same rallying cry: ban all financing on hydrocarbons development and production. The idea of a blanket ban…
Daniel Terungwa The Senate passed a bill seeking to provide the legal framework for the administration of Nigeria’s territorial sea and offshore activities. The bill, sponsored by Senator George Thompson Sekibo of Rivers East, recently scaled third reading in the upper chamber is titled: “A Bill for an Act to Repeal the Exclusive…
The pump price of Premium Motor Spirit, popularly called petrol, may rise from the current N162-N165/litre to N170/litre, while its depot price is projected to increase from N159/litre to N165/litre, oil marketers said on Thursday. Economic Confidential reports that dealers under the aegis of the Independent Petroleum Marketers Association of Nigeria and the Petroleum Products…
Ardova Plc has announced the successful issuance of a tranche A and tranche B Series I bond worth up to N25.3 billion cumulatively. The issuance is part of the company’s newly established N60 billion bond issuance programme. In a statement filed with the Nigerian Exchange Limited (NGX), the firm said that it would be applying…
By Ikenna Omeje Energy analyst and public affairs commentator, Adetayo Adegbemle, has commended Mainstream Energy Services Limited for Willingness to invest N19 Billion in Yola Electricity Distribution Company (YEDC). The Federal Government had in November 2013, unbundled and privatised the Power Holding Company of Nigeria (PHCN). The privatisation which turned 8years in November 2021, saw…
The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Wabote has said that the Duport Modular Refinery is on track to be completed before the end of December 2021. He made this statement recently during an inspection visit to Duport Energy Park situated at Egbokor in Edo state. The…
TotalEnergies has been described as the only international operating company in Nigeria that has been taking key financial investment decisions (FIDs) on major projects in the last ten years and kept faith with Nigeria’s oil and gas industry. Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote…
Daniel Terungwa The Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has outlined action plans to deal with the recent oil spill in Santa Barbara, Nembe, Bayelsa state. It stated that when followed, the plan will help curb the leak at the Aiteo Eastern Exploration and Production Company (AEEPCO) facility, as investigations into the cause of…
NIES 2022: International Panel session to focus on ‘Future Fuels and Energy Transition’ NIES 2022 The International Panel session at the upcoming Nigeria International Energy Summit (NIES2022), scheduled to take place in Abuja from February 27th to March 3rd, 2022, will focus on the theme of the summit; “Revitalizing the Industry: Future Fuels and Energy…
