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Subsidy Removal Reduces Nigeria’s Petrol Consumption to 30M/Litres, Says Tinubu
energy Oil and Gas oil-and-gas~offshore|oil-and-gas:Oil and Gas

Subsidy Removal Reduces Nigeria’s Petrol Consumption to 30M/Litres, Says Tinubu

September 21, 2024

President Bola Tinubu has announced that the elimination of the fuel subsidy has significantly cut Nigeria’s daily petrol consumption, reducing it from several million litres to approximately 30 million litres. Speaking on Thursday during a meeting with former lawmakers at the State House in Abuja, President Tinubu highlighted that the subsidy’s removal has given the […]Read More

Nigeria, Libya Discuss Strategic Gas Pipeline to Strengthen Energy Ties
energy energy|oil-and-gas:Oil and Gas|power offshore Oil and Gas

Nigeria, Libya Discuss Strategic Gas Pipeline to Strengthen Energy Ties

September 21, 2024

The Nigerian government has initiated discussions with Libya on the construction of a gas pipeline connecting the two nations. This was revealed by Nigeria’s Minister of Petroleum (Gas), Ekperikpe Ekpo, during a meeting with Libya’s Oil Minister, Dr. Khalifa AbduAlsadik, at the Gastech Exhibition and Conference 2024 in Houston, USA. Ekpo indicated that the proposed […]Read More

TotalEnergies Prepares to Develop Major Oil Resources Offshore Suriname
energy energy|oil-and-gas:Oil and Gas|power Oil and Gas

TotalEnergies Prepares to Develop Major Oil Resources Offshore Suriname

September 21, 2024

French energy giant TotalEnergies has begun seeking deepwater rigs and support vessels to kickstart the development of vast oil reserves discovered off the coast of Suriname, according to anonymous sources familiar with the tenders, reported Bloomberg on Friday. The Atlantic Basin’s exploration and resource development are now thriving, particularly following ExxonMobil’s significant progress in neighbouring […]Read More

World Bank Allocates $90 Billion Electricity Fund for Nigeria, Other African Nations
energy energy|oil-and-gas:Oil and Gas energy|power power renewables

World Bank Allocates $90 Billion Electricity Fund for Nigeria, Other

September 20, 2024

Nigeria and some other African countries are set to be beneficiaries of $90 billion in electricity funds backed by the World Bank and the African Development Bank. The fund is part of the global financial institution’s plan to provide electricity to the 300 million African population by 2023, a Bloomberg report revealed. On Friday, leading […]Read More

NNPC Moves to Revive Brass, OK LNG Projects
energy energy|oil-and-gas:Oil and Gas Oil and Gas

NNPC Moves to Revive Brass, OK LNG Projects

September 20, 2024

In its continued bid to maximise the nation’s abundant gas resources for economic development and prosperity, NNPC Ltd. has begun discussions with investors towards bringing back two Liquefied Natural Gas (LNG) projects, Brass and Olokola LNG projects. NNPC Ltd.’s Chief Financial Officer (CFO), Mr. Umar Ajiya disclosed this on the sidelines of the ongoing 2024 […]Read More

OPEC Chief Blames High Fuel Prices on Government Taxes, Not Dangote Refinery
energy energy|oil-and-gas:Oil and Gas|power Oil and Gas

OPEC Chief Blames High Fuel Prices on Government Taxes, Not

September 19, 2024

Nigeria’s recent fuel price increase has ignited widespread concern, with many placing the blame on oil producers, particularly local operators like the Dangote Refinery. However, OPEC Secretary General, Haitham Al Ghais, has clarified the situation, pointing out that the real drivers of high fuel prices are taxes imposed by governments, including those of major oil-consuming […]Read More

NERC Approves Transfer Of Electricity Regulation To Kogi
energy power

NERC Approves Transfer Of Electricity Regulation To Kogi

September 18, 2024

The Nigerian Electricity Regulatory Commission has issued an order to transfer regulatory oversight of the electricity market in Kogi State from the Commission to the Kogi State Electricity Regulatory Commission (KSERC). A statement by the regulator on Wednesday said the move complies with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the […]Read More

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