Chevron Ventures into Renewable Energy with $500 Million Fund Chevron Corp.’s venture arm has unveiled its third fund, the Future Energy Fund III, with a hefty commitment of $500 million dedicated to investing in renewable energy technologies. This move marks Chevron’s strategic pivot towards diversification and forward-thinking innovation. The Future Energy Fund III allows Chevron…
Invest in African Energy Forum Seeks Collaboration, Investment to Power Africa’s Future The upcoming Invest in African Energy (IAE) forum aims to be a turning point for Africa’s energy sector, fostering collaboration between global investors and Africa’s rapidly growing energy markets. This exclusive two-day event, held from May 14-15, 2024, at The Westin Paris, Vendôme,…
Federal Government Teams Up with PETAN to Boost Nigeria’s Oil and Gas Sector The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has signaled the Federal Government’s commitment to partnering with the Petroleum Technology Association of Nigeria (PETAN) to revitalize Nigeria’s oil and gas industry amidst concerns over declining production and the imperative of…
Seplat Energy Celebrates 10 Years: Strong Financials, Community Focus, and Market Leadership Seplat Energy Plc marked a decade of success at a press briefing held on Thursday, highlighting its impressive financial performance, commitment to social responsibility, and leadership role in the Nigerian oil and gas sector. Financial Strength and Growth Since its initial public offering…
Nigeria Unveils Domestic Crude Oil Supply Template, Boosting Refinery Collaboration The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has taken a significant step towards a more self-reliant petroleum industry by unveiling a new Domestic Crude Oil Supply Obligation (DCSO) template. This framework aims to strengthen collaboration between oil producers and domestic refineries. NUPRC Chief Executive, Gbemga…
NCDMB Receives $1m Return on Investment from NEGOGAS The Nigerian Content Development and Monitoring Board (NCDMB) on Monday received a cheque of $1 million from Nedogas Development Company Limited (NDCL), being part of the return on investment (ROI) on one of the Board’s strategic investments. The cheque was presented by the Chairman of the…
FIRS Records Historic N12.3 Trillion Revenue in 2023 Enugu, Nigeria, April 14, 2024 – The Federal Inland Revenue Service (FIRS) achieved an unprecedented milestone in revenue generation, amassing an impressive N12.3 trillion in 2023, according to Mr. Zacch Adedeji, the Chief Executive of FIRS. Speaking at the FIRS special day during the 35th Enugu International…
Seplat Energy CEO to Advocate Gas-Focused Investments at African Energy Week (AEW) 2024 CAPE TOWN, South Africa, April 12, 2024 – Roger Brown, CEO of Seplat Energy, a Nigerian independent oil and gas company, is set to address the prestigious African Energy Week (AEW): Invest in African Energy conference, scheduled for November 4-8. With a…
NSCDC Antivandal Uncovers Artisanal Refinery in Rivers Community The Nigeria Security and Civil Defence Corps (NSCDC) Rivers State Command’s Antivandal Squad has made a significant discovery, uncovering a local refinery in the Adobi-Akwa settlement within the Etche Local Government Area of Rivers State. Led by CSC Peters Ibiso, representing Commandant Basil Igwebueze, the Antivandal Squad…
Oil Rebounds as Middle East Tensions Outweigh Rate Cut Concerns Oil staged a 2% rebound on Friday, poised for a modest weekly uptick, buoyed by escalating tensions in the Middle East that heightened concerns over potential disruptions in supply. This surge offset the bearish sentiment stemming from reduced expectations for U.S. interest rate cuts this…
