Seplat appoints Omiyi, former Shell chief, to replace Orjiako as chairman
Anthony Nlebem
May 19, 2022
BY CHARLES ABUEDE Seplat Energies has replaced its pioneer chairman, A.B.C. Orjiako, with former Shell executive, Basil Omiyi, who will be expected to meet with shareholders at the company’s next annual general meeting at which Orjiako’s notice to step down had been billed to take effect. Omiyi, who is a member of the board and […]
WEF urges action for resilient energy transition, amid fuel price spikes
Maduabuchi EfegadiMay 18, 2022
BY MADUABUCHI EFEGADI The World Economic Forum, the international organisation for public-private cooperation, warns that the global energy security appears severely threatened, given the slow progress on climate action, imbalance and lack of collaboration in supply–demand levels. WEF stressed that energy transition must address the challenges to environmental sustainability, energy security and energy justice and […]
Bboxx, secures $15m funding from InfraCo Africa for SSA solar expansion
Businessam StaffMay 17, 2022
Investment company, InfraCo Africa, is injecting new funding into United Kingdom-based Bboxx, the solar home system company, it has emerged. The funding is in the form of $15 million in convertible loan notes from InfraCo Africa, an investment company of the Private Infrastructure Development Group (PIDG). The funding will enable Bboxx to expand its operations […]
Nigeria’s oil production plunges 1.2mbpd in April – OPEC data
Chisom NwatuMay 17, 2022
BY CHISOM NWATU Nigeria’s crude oil production lost 1.53 percent to an average of 1.219 million barrels per day (mbpd) in the month of April compared to 1.238 mbpd recorded in the previous month as shown by market report on crude oil production for the month of May 2022 compiled and released by the Organisation […]
Eni’s new report commits firm to carbon neutrality by 2050
Maduabuchi EfegadiMay 17, 2022
BY MADUABUCHI EFEGADI Italian energy giant Eni says it is convinced that it is on track via its contribution and objectives for a just energy transition, with a view to sharing social and economic results on its path to carbon neutrality by 2050. Claudio Descalzi, Eni’s chief executive officer, said the company strongly feels the […]
FAO says 40m Nigerians engage in fuelwood collection, charcoal production
Onome AmugeMay 11, 2022
BY ONOME AMUGE A large number of livelihoods in sub-Saharan African countries are sustained by the fuelwood and charcoal economies, a situation evident in Nigeria where over 40 million people or one-fifth of the country’s population are engaged in fuelwood collection and charcoal production, which provides an estimated 530,000 full-time equivalent direct jobs for the […]
Nigeria, Morocco rekindle offshore gas pipeline dream
Maduabuchi EfegadiMay 10, 2022
BY MADUABUCHI EFEGADI Nigeria and Morocco appear set to finally begin developing a 7,000 km long offshore gas pipeline that would carry gas from the gas-awash West African nation to the North African economic giant with a GDP of over $119.04 billion. The project, which cost was not immediately disclosed, but Tolu Ogunlesi, a media […]
Seplat offers 2.5 cents in interim dividends on N8.3bn net profit
Charles AbuedeMay 2, 2022
BY CHARLES ABUEDE An offer by Seplat Energy of $2.5 cents in interim dividend and first-quarter revenues of N100.6 billion have helped to produce an overwhelmingly positive reaction from investors after the publication of the unaudited result on of the oil producer as the stock popped 9.09 percent against the 0.55 percent gain for the […]
Nigerian minister looks to end energy poverty with African Energy Bank
Chisom NwatuApril 29, 2022
BY: CHISOM NWATU Nigeria’s federal government has said it is important for the continent to form an African Energy Bank (AEB) to put an end to the malaise of energy poverty and crisis on the continent. Timipre Sylva, minister of state for petroleum resources, made this revelation recently in Abuja while delivering a keynote address […]
IOCs legal albatross dies with Shell’s N45.9bn Ogoni spill payment incomplete
Maduabuchi EfegadiApril 19, 2022
BY: Maduabuchi Efegadi The death last week of Nigeria’s maverick environmental lawyer, Lucius Nwosu, whose prototypical compensation payment of N45.9 billion legal victory for Ogoni community over Shell Petroleum Development Company is yet unfulfilled by the international oil company (IOC), may weaken Nigerian oil communities’ legal grit to secure payment awards. Nwosu, who hailed from […]