Spain to Ask EU for Extension to Iberian Gas Price Cap until End 2024 Spain will seek European Union permission to extend its temporary cap on reference prices for natural gas and coal used by power plants until at least the end of 2024, Energy Minister Teresa Ribera said on Monday. The so-called Iberian mechanism,…
Global Trade Hit $32tr in 2022 with Gloomy Outlook in 2023 Records show that global trade hit $32 trillion for 2022, but a slowdown that began in the second half of the year is expected to worsen in 2023 as geopolitical tensions and tight financial conditions persist, according to the latest Global Trade Update, published…
NBS says Price of 5kg Cooking Gas Averages N4, 549.14 in November The average price of the 5 kilogramme, kg, of the Liquefied Petroleum Gas, LPG, also known as cooking gas increased from N4, 483.75 in October to N4, 549.14 in November. The National Bureau of Statistics, NBS, disclosed this in its November 2022 “Cooking…
NNPC’s Security Contractor Intercepts More Vessels with Stolen Crude Oil Tantita Security Services, the security contractor engaged by the Nigerian National Petroleum Company Ltd, NNPCL, has intercepted a Barge and Truck with consignments of stolen Crude oil. In the first of two recent high-profile discoveries by Tantita Security Services, the Maritime Intelligence Unit of the…
Power Generation Declines further to 1,892.30MW Electricity generation on Wednesday declined from 4,017MW at 14 hours to 1,892.30MW at 15:00 hours. This is according to the Independent System Operator of the Transmission Company of Nigeria (TCN). Twenty power plants were in operation when the grid recorded 4,017MW and later dipped by 2,125.66MW. At 16:00 hours…
Nigeria to Spend $7.5bn on Petrol Subsidy to Mid-2023 Nigeria will keep its costly but popular petrol subsidy until mid-2023 and has set aside 3.36 trillion naira ($7.5 bln) to spend on it, Finance Minister Zainab Ahmed said on Wednesday. Africa’s biggest economy spent 2.91 trillion naira ($7 billion) towards a petrol subsidy between January…
FG Should Negotiate Deep Offshore Basin with Current Lease Holders – MD, ND Western Eberechukwu Oji is the Managing Director/Chief Executive Officer (MD/CEO) of ND Western, one of the fastest growing indigenous exploration and production companies in Nigeria. He has experience spanning over 25 years in the oil and gas sector. Oji, who has…
Nigeria Lifts OPEC December Output With 1.35 Million Barrels Daily Production OPEC crude output reportedly edged higher in December after Nigeria partially reversed a long-term slump by cracking down on oil theft. The OPEC, boosted supplies by 150,000 barrels a day, with Nigeria effectively providing the entire gain, according to a Bloomberg survey. Total group…
One-Third of the World Will Face Recession This Year, IMF Warns A third of the global economy will be in recession this year, the head of the International Monetary Fund (IMF) has warned. IMF Managing Director, Kristalina Georgieva issued the warning in an interview with CBS, an American broadcast television and radio network, on Sunday….
2022 SNG CONTRACTOR CEO HSE WORKSHOP AND AWARDS PHOTOSTORY
