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 […]

Oil prices rise ahead of key OPEC+ meeting on potential supply cuts

November 30, 2023

Energy law group,AEC advocates commonsense approach to promote African oil & gas sector 

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

November 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

November 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

November 14, 2023

TotalEnergies appoints Bunmi Popoola-Mordi as executive director

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

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

November 9, 2023

China coronavirus could push oil down by $3

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 […]