Nigeria’s Central Bank Sets Limit on Oil Firms’ FX Transfers from Crude Oil Proceeds In a bid to bolster dollar supply in the local currency market, Nigeria’s central bank has introduced a new measure that limits foreign currency transfers from crude export proceeds by international oil companies to their parent firms. According to a circular…
Nigeria’s Hydrocarbon Riches and Potential for Sustainable Energy: Insights from Engr. Gbenga Komolafe at SAIPEC 2024 At the 8th Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC), themed “The Next Steps: Accelerating African Content,” Engr. Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), lauded the Petroleum Technology Association of Nigeria…
Nigerian Industrial Giant, Dorman Long, Marks 75 Years of Building the Nation Nigeria’s leading steel engineering and fabrication company, Dorman Long Engineering, celebrated its 75th anniversary in grand style last week with a cocktail reception in Lagos. The event marked a significant milestone for the company, showcasing its rich history, unwavering commitment to progress, and…
NNPC/TotalEnergies JV Achieves Zero Routine Gas Flaring, Boosting Nigeria’s Climate Goals The Nigerian National Petroleum Company Limited (NNPC Ltd) and TotalEnergies joint venture (JV) have announced a significant milestone in their sustainability efforts, achieving zero routine gas flaring across all their assets. This accomplishment marks a major step forward in reducing greenhouse gas emissions and…
SAIPEC’s local content focus appeals to all The Sub Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) is back and bigger than ever. The conference runs from 13-15 February 2024 at the Eko Convention Center in Lagos, Nigeria. The event is hosted by the Petroleum Technology Association of Nigeria (PETAN) in partnership with the Nigerian…
Shell Goes Big in Nigeria: Bonga Boost, Gas Expansion, and Renewable Push Shell is making a major statement in Nigeria, announcing a three-pronged strategy to boost its presence in the country: extending the life of the iconic Bonga FPSO, expanding its gas portfolio, and investing heavily in renewable energy solutions. Bonga Main Life Extension Project:…
AfCFTA: NCDMB Advocates Database of Skills, Uniform Standards for Goods, Services As plans to implement the African Continental Free Trade Agreement (AfCFTA) continue to unfold, the Nigerian Content Development and Monitoring Board (NCDMB) has advocated the removal of visa restrictions among African nations, the creation of a database of available skills, and the simplification of…
SPDC restores Crude Oil Supply to Port Harcourt Refinery, Bolstering Nigeria’s Economy In line with the Federal Government’s drive to enhance domestic refining capacity and improve product availability in Nigeria, the Shell Petroleum Development Company of Nigeria Limited (SPDC), operating via its Bonny Oil & Gas Terminal (BOGT), has successfully delivered over 475,000 barrels of…
Access Bank CEO Herbert Wigwe Dies in Helicopter Crash Access Holdings Plc., parent company of Access Bank, confirms the death of its Group Chief Executive Officer (CEO), Dr. Herbert Wigwe, in a helicopter crash on Friday, February 9th. Tragically, Wigwe’s wife and son also perished in the accident along with a former Chairman of the…
EEDC Prepaid Meter Upgrade: What You Need to Know (With More Details) Enugu Electricity Distribution Company (EEDC) has recently addressed misleading information circulating about their planned STS prepaid meter upgrade and Token Identifier (TID) Rollover. To provide clarity and equip customers with accurate information, here’s a breakdown with more details: The Misinformation: A message circulating…
