NCDMB, BOI Sign Amendment of MoU on $50m NOGaPS Manufacturing Fund Angola, Namibia to replicate funding model The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BoI) have signed an amendment to the Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund. The Fund was created by the NCDMB and…
NCDMB, Founder Institute unveil high-potential portfolio companies, pledge sustained promotion of research, innovation The Nigerian Content Development and Monitoring Board (NCDMB) on Thursday unveiled 17 portfolio companies that have successfully concluded research- and innovation-based training at its Technology Incubation and Innovation Centre (TIIC), signalling intensification of its capacity-building initiatives that birthed its Project 100 companies…
Russia – Gazprom Neft second quarter net profit falls 43% year over year Russian oil major Gazprom Neft says its second-quarter net profit fell 43% from the same period last year to 140.1 billion roubles ($1.5 billion) as sales declined. Profits for global oil majors have dropped by about half from a bumper 2022, when…
UK Fines Morgan Stanley for Energy Traders using Private WhatsApp Messages The UK regulator Ofgem said on Wednesday it had fined Morgan Stanley & Co. International plc (MSIP) for failure to record and retain electronic trading communications in energy trades after wholesale energy traders were found to have used WhatsApp on privately owned phones to…
Nigeria needs finance to build enduring energy industry – Omale. Nigeria needs adequate financial support to establish a sustainable and enduring energy industry, as highlighted by Richard Omale, the Deputy Managing Director of Les Energy Company Limited. In his speech at the Nigerian Oil and Gas (NOG) Energy Week Conference and Exhibition, Omale emphasized the…
Canada – Oil Production set to Rise over Two Years by 8% Tie-backs to existing oil sands facilities or expansion of operational sites by some of the biggest Canadian oil firms are expected to boost Canada’s crude oil production by 8% by 2025, analysts have told Reuters. Analysts at RBN Energy see Canadian crude oil production rising…
Seplat Energy Plc Deepens Partnership with Edo State Seplat Energy Plc and the Edo State government have agreed to deepen their partnership towards improved social, economic and environmental development. This was part of the discussions during a courtesy visit to the Executive Governor of Edo State, Godwin Obaseki by a team of Seplat board and…
Lawyers Demand Decentralization of Oil and Gas Regulations The Association of Environmental Lawyers of Nigeria, (AELN) has called on the federal government to decentralize the regulation of the oil and gas across the three tiers of government. National President of the Association, Prof. Samuel Dike, who noted that a larger percentage of environmental pollution in…
NCDMB Proffers Guideposts For Sustainable Local Content Practice In Africa On the heels of remarkable discovery and exploration of oil and gas resources across several countries in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday proffered strategies that would enable those nations to institute sustainable Local Content practices, achieve in-country value addition,…
Seplat Energy’s Gas Revenue Grows to $63.7 Million Year-On-Year Seplat Energy Plc, a leading Nigerian independent energy company listed on both the Nigerian Exchange Limited and the London Stock Exchange, has within a year experienced a 10.2 per cent gas revenue, reaching $63.7 million in 6M 2023 (compared to $57.8 million in 6M 2022). This…
