NLNG says Nigeria LPG market intricate, but no price increase
BEN EGUZOZIE
November 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 […]
AfDB issues climate finance guidelines for Nigeria,others
Business a.m.September 29, 2023
Business A.M The African Development Bank Group (AfDB) has released country-by-country economic reports to support Nigeria and other African policymakers in accessing the much needed climate finance for a green economy. The multilateral development finance institution made the disclosure in a report titled, “Mobilising Private Sector Finance for Climate and Green Growth in Africa”, launched […]
NNPC,Indorama seal $7bn gas supply deal to unlock $18bn lifetime revenue
Onome AmugeSeptember 19, 2023
By Onome Amuge. The Nigerian National Petroleum Company (NNPC) Limited has signed a memorandum of understanding (MoU) with Indorama Eleme Petrochemicals Company Limited to promote the use of natural gas by large-scale gas utilisation industries. The deal, estimated at $7 billion, was signed by Mele Kyari, the group chief executive of the NNPCL, on behalf […]