Niger Delta communities trained on climate change funding
Maduabuchi EfegadiJune 21, 2022
BY MADUABUCHI EFEGADI As the effects of climate change continue to ravage mainly Africa which, ironically, is the least emitter, communities in Nigeria’s delta region are being trained on how to access the climate change funding, which amounts to some $100 billion. The Niger Delta, Nigeria’s oil-producing belt, is particularly harried by oil production activities, […]
After the Russian import ban, could emerging markets help meet the EU’s oil demand?
Oxford Business GroupJune 21, 2022
BY OXFORD BUSINESS GROUP Emerging markets are exploring opportunities to help meet the EU’s energy demand following the bloc’s announcement that it will ban seaborne imports of oil from Russia. The move, announced on May 30 and set to be implemented by the end of the year, forms part of the sanctions crafted in response […]
N800bn judgement debt: Shell to slow asset sale as Supreme Court orders status quo
Businessam StaffJune 21, 2022
The Supreme Court of Nigeria has ordered all parties to maintain status quo in the matter of an appeal brought before it over the N800 billion judgement debt awarded to Egbalor, Ebubu community in Eleme Local Government Area of Rivers State against international oil company Shell, as the apex court adjourned the appeal brought by […]
Petrol consumers face hike as marketers bemoan daunting operation
Onome AmugeJune 21, 2022
BY ONOME AMUGE The recent scramble for petrol at major filling stations across Nigeria’s commercial city of Lagos occasioned by supply shortage took a worse turn on Tuesday, raising concerns of imminent hike in the price of the product. This comes after the Independent Petroleum Marketers Association of Nigeria (IPMAN) announced that despite the […]
Barkindo, ex-OPEC scribe, urges all-solutions approach to energy transition
Maduabuchi EfegadiJune 20, 2022
BY MADUABUCHI EFEGADI A former secretary-general of the Organisation of Petroleum Exporting Countries (OPEC), Mohammed Barkindo, has advised that there is no one-size-fits all pathway in the ongoing energy transition campaign. Nigerian-born Barkindo, in a recent address at the Atlantic Council while reliving major events and developments that characterised the global oil industry in the […]
All On, Greenage Technologies seal $500,000 investment deal to expand solar capacity
Rosemary IwualaJune 17, 2022
BY ROSEMARY IWUALA Shell-funded impact investment company, All On, has invested $500,000 in Greenage Technologies Power System Limited to fund the construction and expansion of its charge controllers and inverters manufacturing facility in Enugu State, South-East Nigeria. The investment, which is a mix of equity and convertible debt, will help Greenage Technologies in the realization […]
IEA sees global oil demand rising 2% to new high in 2023
Habeeb AdamuJune 15, 2022
BY HABEEB ADAMU Global oil demand will rise more than 2 percent to a record high of 101.6 million barrels per day (bpd) in 2023, the International Energy Agency (IEA) said in its latest monthly oil market report on Wednesday. The Paris-based autonomous intergovernmental energy authority said demand would rise 2.2 million bpd, or 2.2 […]
Nigeria loses $1.7bn claim against JPMorgan in Malabu oil deal trial
CHUKS OLUIGBO, EniJune 15, 2022
BY CHUKS OLUIGBO Nigeria has lost a London High Court suit against JPMorgan Chase in which it was seeking $1.7 billion in damages over the US bank’s role in the sale of offshore oilfield OPL 245 in 2011. The Nigerian government had sued JP Morgan Chase on the grounds that the US investment bank was […]
Buhari, Kyari canvass Spain’s investment in Nigeria’s oil sector
Maduabuchi EfegadiJune 6, 2022
BY MADUABUCHI EFEGADI President Muhammadu Buhari in Spain for a state visit, along with Mele Kyari, the group managing director and chief executive of NNPC Limited, has been showcasing investment opportunities in Nigeria’s oil and gas industry, restating a commitment to sustain strategic energy partnership between Nigeria and the European country. Nigeria, though dwarfs Spain […]
Wisolar readies solar electricity solution for Nigerian consumers
Onome AmugeJune 6, 2022
BY ONOME AMUGE WiSolar, a pan-African solar electricity and renewable energy company is set to launch a mobile app, through which electricity consumers in Nigeria can purchase solar electricity units on a prepaid basis. According to the energy solutions company, the innovative and easy to use app, asides offering specialised home solar financing options […]