Energy
29 Nov
French energy giant TotalEnergies is poised to invest an additional $750 million in Nigeria's gas sector. Mike Sangster, Senior Vice President for Africa at TotalEnergies, confirmed that the company plans to sanction a shallow-water dry gas project called Ima next year, which would further increase LNG supplies, according to Bloomberg. This investment, coupled with the…
29 Nov
Ngozi Okonjo-Iweala, the first woman and first African to run the World Trade Organization, has been reappointed for a second term, the global trade body said Friday. Confirming her appointment in a statement, the General Council of the WTO said it agreed by consensus to reappoint Okonjo-Iweala as Director-General for another four-year term, set to…
29 Nov
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) has announced that the Port Harcourt Refinery will sell premium motor spirit (PMS) at N1,030 per litre. The association confirmed that the refinery is operational, as claimed by the Nigerian National Petroleum Company Limited (NNPCL). In a statement on Thursday night, PETROAN spokesman Joseph Obele…
29 Nov
The Nigerian Electricity Regulatory Commission (NERC) has revealed that the Federal Government's annual electricity subsidy surged to N2.4 trillion in 2024, a sharp rise from N650 billion in 2023. The commission attributed the significant increase to persistent inefficiencies in the electricity sector, despite the introduction of the Band A tariff service category. The initiative, aimed…
28 Nov
The Petroleum Products Retail Outlet Owners Association of Nigeria (PETROAN) says the Port Harcourt Refinery Company Limited has not released any new purchase price for Premium Motor Spirit (PMS). Dr Billy Gillis-Harry, National President of PETROAN, made this known in a statement on Wednesday. The News Agency of Nigeria (NAN) reports that the refinery, operated…
27 Nov
The investment and acquisition of 8%stake in UTM Floating Liquefied Natural Gas plant by the Delta State government is adjudged as best and wise decision ever taken. This is so, because Delta State government will continue earn extra revenue from the investment in UTM FLNG, which will further boost or solidify the financial base of…
27 Nov
The Petroleum, Environment and Solid Minerals Degradation Awareness Association (PESMDAA) on Wednesday, expressed concern over the worsening environmental degradation in solid mineral-producing regions across the country. The association also inaugurated a dedicated task force to enhance its efforts in combating environmental degradation caused by resource extraction. The Chairman of PESMDAA, Dr. Robert Adah, disclosed this…
27 Nov
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has outperformed expectations by exceeding its 2024 revenue target by an impressive 49%. This achievement, according to reports, comes amidst global challenges in the hydrocarbon industry, where producers are grappling with declining royalties and tight profit margins due to the accelerating energy transition. The revenue performance, per the…
27 Nov
NIGERIA faces a pressing energy challenge which stresses the need for an energy infrastructure to support its developmental goals. The Nigerian government's energy transition plan, launched in 2022, is a crucial step towards achieving this goal, focusing on expanding access to electricity, reducing carbon emissions, and leveraging the country's abundant natural gas resources. With a…
27 Nov
THE BloombergNEF New Energy Outlook 2024 has projected that under the Economic Transition Scenario (ETS), companies, financial institutions, governments, and consumers would invest a total of $181 trillion from 2024 to 2050 on energy-related infrastructure, technology, and products. The report stated that out of the $181 trillion, $53 trillion is projected for energy supply, both…
27 Nov
Africa's reliance on Liquefied Petroleum Gas (LPG) importation despite being a significant gas exporter highlights a critical infrastructural mismatch on the continent, the African Refiners and Distributors Association (ARDA) has said. The Executive Secretary of ARDA, AniborKragha, in a presentation, pointed out that insufficient infrastructure prevents many African nations from leveraging local LPG production, thus…
Latest
1 day ago
President Bola Tinubu has expressed sadness over the death of Mrs Elizabeth Abdul, wife of Otunba Aderemi Abdul, Chairman of the Nigerian Consumer Credit Corporation (CREDICORP), at 70. The president, in a statement by Mr Bayo Onanuga, his spokesman, said Abdul was a remarkable woman whose life was defined by grace, compassion, and commitment to…
1 day ago
The Benue Government has sealed City Bay Park, belonging to Rep. Asema Achado (APC/Gwer East/Gwer West), for non-payment of prescribed tax. Achado confirmed the sealing of the recreational park to newsmen during a press briefing on Thursday in Makurdi. The lawmaker said that the leisure park and event centre was sealed on December 23 by…
1 day ago
Gabon's defence ministry said Thursday that eight officers suspected of torturing to death a young soldier accused of stealing had been detained, in a case that has rocked the junta-led country. Two generals will also be questioned after an emergency meeting presided by coup leader General Brice Oligui Nguema, according to a ministry statement read…
1 day ago
The Chief of Defence Staff (CDS), Gen. Christopher Musa, has reaffirmed that Nigeria will not allow its borders to be used as a base to
1 day ago
Manmohan Singh, the former Indian prime minister whose economic reforms made his country a global powerhouse, has died at the age of 92, current leader Narendra Modi said Thursday. India "mourns the loss of one of its most distinguished leaders," Modi posted on social media platform X shortly after news broke of Singh's passing.…
1 day ago
Tottenham boss Ange Postecoglou blamed an injury crisis for his side's poor form after a 1-0 loss at Nottingham Forest on Thursday. Spurs sit 11th in the Premier League after their ninth defeat in 18 games this season. Postecoglou's men have fared better in other competitions as they have progressed to the League Cup semi-finals…
1 day ago
Panamanian President Jose Raul Mulino on Thursday ruled out negotiations with US President-elect Donald Trump over control of the Panama Canal, denying that China was interfering in its operation. Mulino also rejected the possibility of reducing tolls for US vessels in response to Trump's threat to demand control of the vital waterway connecting the…
1 day ago
Airstrikes by Nigerian military forces targeting suspected jihadists in the northwest Sokoto state killed 10 civilians and injured six others, local officials said Thursday. The strikes were aimed at positions of the Lakurawa jihadist group in a forest in Silame district but instead hit Gidan Bisa and Runtawa, two villages on the edge of…
1 day ago
Manchester United's miserable season suffered another Boxing Day blow as captain Bruno Fernandes was sent-off in a 2-0 defeat at lowly Wolves. Fernandes saw red for the third time this season early in the second half for a second bookable offence. Wolves took full advantage to make it two wins in two games…
1 day ago
Gov. Abba Yusuf of Kano State has condoled with his Jigawa counterpart, Gov. Umar Namadi, over the death of his eldest son, Abdulwahab Namadi, who lost his life in a tragic auto crash. The incident occurred after the passing of Hajiya Maryam Namadi, Abdulwahab’s paternal grandmother, on Wednesday. Malam Sunusi Tofa, the governor’s spokesperson in…