NNPCL restores oil production of 275,000 bpd at TotalEnergies
Business a.m.
November 13, 2023
…Resolves PENGASSAN-Total Energies management rift Business a.m The Nigerian National Petroleum Company Limited (NNPCL) has successfully restored oil production at TotalEnergies’ operations to 275,000 barrels per day. Olufemi Soneye,NNPCL’s chief corporate communications officer, announced the restoration of production in a statement on November 12. Soneye,in the statement made available to Business a.m, explained that the […]
Russia-Ukraine war stunts Nigeria’s crude flow in world markets – NNPC
BEN EGUZOZIENovember 9, 2023
India’s demand drops by 52% to date Asian market demand dips generally Europe’s crude flow increases yet to impact economy Ben Eguzozie Nigeria’s crude oil flows in the international markets has been greatly stunted by the war between Russia and Ukraine leading to unimaginable dip in demand from the once-dependable Asian market at the onset […]
NLNG says Nigeria LPG market intricate, but no price increase
BEN EGUZOZIENovember 9, 2023
… As scarcity pushes up prices at decanting plants Ben Eguzozie Nigeria LNG Limited (NLNG) says it has not raised its supply price of domestic liquefied petroleum gas (LPG) commonly known as cooking gas to decanting plants. The gas liquefaction company said, if anything, media reports insinuating that a price hike by the company is responsible […]
Nigeria’s Nembe crude oil grade finds international market
Business a.m.November 8, 2023
Business a.m The Nigerian National Petroleum Company (NNPC) Limited and Aiteo Joint Venture have announced the introduction of Nembe crude oil grade, a new crude oil grade into the international crude oil market. This was disclosed in a statement signed by Mr Olufemi Soneye, the Chief Corporate Communications Officer (CCCO), of the state oil company […]
NNPC,NEITI collaborate to investigate debt claims on federation account
Isaac JayeolaNovember 8, 2023
Business a.m The Nigerian National Petroleum Company Limited (NNPC Ltd.)has stated that it will continue to collaborate with the Nigeria Extractive Industries Transparency Initiative (NEITI) and relevant stakeholders in the reconciliation committee set up by President Bola Ahmed Tinubu to investigate and reconcile any financial discrepancies between NNPC Ltd. and the Federation Accounts Allocation […]
Nigeria must act now to avert catastrophic effects of climate change, says think tank
Onome AmugeNovember 8, 2023
Onome Amuge Despite its low emissions profile, Nigeria is already experiencing the effects of climate change and extreme weather events. Unless urgent and bold action is taken, Nigeria could become one of the most severely affected countries by climate change, with grave implications for the country’s already fragile economic, social, and human development indicators. Agora […]
EU shuttles Nigeria to strengthen ties as 9.5bcm LNG shipped in 2022
BEN EGUZOZIEOctober 30, 2023
Ben Eguzozie The European Union (EU), in need of additional energy for their region outside of Russia, more so, from Africa as the viable frontier, have been reaching out to energy producing countries on the continent since the Russian-Ukraine war. An EU delegation led by the EU commissioner for energy, Kadri Simson, was […]
Uncertain demand, low investment put energy transition at risk – Gas Report
PHILLIP ISAKPAOctober 24, 2023
PHILLIP ISAKPA IN LONDON, UK A world of unprecedented uncertainty in demand, along with an insufficient level of investment in natural gas, low-carbon, and renewable gases have combined to put the global push for energy transition at risk, the Global Gas Report for 2023 has revealed. The report also states that this scenario […]
Oando chief seeks regional cooperation for a just energy transition.
Business a.m.October 17, 2023
Ainojie Irune, the chief operating officer of Oando Energy Resources, says he would like to see strong regional cooperation amongst African nations in order to accelerate the continent’s energy transition. The Oando Energy Resources chief made the call in Cape Town, South Africa, during his intervention and contribution at the recently concluded Africa Oil Week. […]
IBEDC reports N3bn monthly loss from electricity theft
Onome AmugeOctober 11, 2023
Onome Amuge The Ibadan Electricity Distribution Company (IBEDC) has revealed that electricity thefts by its customers result in a loss of over three billion naira every month. The largest electricity distribution company in Nigeria by customer base said these thefts are carried out by customers who either don’t pay their bills or pay less than […]