COP28 sets goal to boost clean energy, phase out fossil fuels
Post AMUGEDecember 4, 2023
ONOME AMUGE A raft of initiatives are emerging and getting launched at the ongoing U.N. climate summit, COP28, in Dubai aimed at boosting clean energy and reducing the world’s dependence on fossil fuels, details rolling out of the event show. One of the most widely supported initiatives is expected to lead to a cut […]
Nigeria sets sights on $575bn investments in decarbonisation operations
Post AMUGEDecember 4, 2023
Business a.m The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has released a statement outlining how its Industry Sustainability Initiative (NISI) could create up to $575 billion in capital investment opportunities for Nigeria through decarbonisation. During a session at the UN Climate Change Conference 2023 (COP28), the NMDPRA explored the country’s path towards energy […]
Global, African organisations pledge $175m in solidarity for Africa green infrastructure
Post AMUGEDecember 4, 2023
Joy Agwunobi In a powerful show of support at COP28, a coalition of African and global institutions, as well as the governments of Germany, France and Japan and philanthropies, have committed more than $175 million to the Alliance for Green Infrastructure in Africa (AGIA). The commitment to the AGIA was made by a […]
Oil prices rise ahead of key OPEC+ meeting on potential supply cuts
Business a.m.November 30, 2023
Business a.m Oil prices rose on Thursday as investors prepared for the OPEC+ meeting, which could result in further supply cuts. The Organisation of Petroleum Exporting Countries (OPEC) and its allies, known as OPEC+, are expected to discuss reducing production further to support prices. Brent crude futures for January delivery were up 65 cents, or […]
Salvi Lighting Nigeria ushers in a new era of lighting solutions
Onome AmugeNovember 29, 2023
Onome Amuge Nigeria’s reputation as the “Giant of Africa” has been questioned due to its unreliable and inadequate power supply. Many households and businesses rely on generators to meet their electricity needs, which adds to the cost of doing business and reduces the country’s global competitiveness. The power crisis has had a significant […]
NSIA announces $500m renewable energy initiative to transform Nigeria’s energy landscape
Cynthia EzekweNovember 21, 2023
Cynthia Ezekwe The Nigerian Sovereign Investment Authority (NSIA) recently launched a $500 million Renewables Investment Platform for Limitless Energy (RIPLE), with the goal of attracting more investments into the energy sector and redefining Nigeria’s energy landscape. To support the success of this initiative, NSIA signed a Memorandum of Understanding (MoU) with the International Finance Corporation […]
TotalEnergies not planning to leave Nigeria, says firm’s exec
BEN EGUZOZIENovember 14, 2023
Ben Eguzozie, in Port Harcourt TotalEnergies, French global energy company, with more than half a century petroleum business operations in Nigeria, says it is not thinking of leaving the country anytime soon, amid the exit of some other IOCs from the country. “We’re here for the long haul, even though some IOCs are […]
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 […]