Category: Energy

NNPC/Aiteo Joint Venture Launches Nembe Crude Oil Grade

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The NNPC/ Aiteo Joint venture has announced the introduction of Nembe Crude Oil Grade, a new crude oil grade into the international crude oil market. The announcement of the Nembe Crude Oil Blend, produced by Aiteo, the Operator of the NNPC/Aiteo Oil Mining Lease (OML) 29 Joint Venture (JV), was made at the ongoing Argus European Crude Conference in London, on Tuesday. OML 29, an asset located onshore Nigeria, is operated by Aiteo Eastern Exploration & Production Ltd, Africa’s leading indigenous hydrocarbon producer, following a historic acquisition from Shell in…

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Bloomberg: Dangote Reclaims Richest Man In Africa Spot With $15.6bn

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President of Dangote Group, Aliko Dangote remains the richest man in Africa, despite the volatility of Nigerian currency against the dollar. Bloomberg in its daily top billionaire lists, released on Tuesday, revealed that Dangote with a wealth of $15.6 billion topped other Africans in the Index. Dangote, who remains the richest man in Africa for the 12th year running, was the only Nigerian on the list of the top 500 billionaires, as released by Bloomberg. Other Africans listed in the latest top 500 world billionaires list for the year 2023…

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Meet Olu Verheijen, President Tinubu’s Energy Adviser

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President Bola Ahmed Tinubu has appointed Ms. Olu Verheijen as his adviser on the Energy sector, as part of recent appointments in key sectors of the economy. With nearly 20 years of experience, Ms Verheijen brings extensive knowledge and expertise in the oil, gas, power, and renewable energy sectors in sub-Saharan Africa. Her previous roles include serving as a Deal Lead at Shell, where she advised on gas commercialization and participated in multi-billion-dollar mergers and acquisitions transactions. She currently leads Latimer Energy, a consultancy firm specializing in energy sector investment…

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World Environment Day: Egbin Power Plc Charts Path For Environmental Sustainability

JUSTINA EMMANUEL OKPARA

…urges global concerted efforts Deliberate actions designed to further reduce environmental pollution in line with global agenda for sustainability have been outlined by Egbin Power Plc, the largest power generating station in Nigeria, to commemorate World Environment Day 2023, under the theme “Solutions to Plastic Pollution.” The GenCo, while raising awareness about the hazardous impact of pollution on the environment, also called for concerted global efforts among governments, businesses, and individuals towards building a more sustainable world. Speaking during the activities outlined to commemorate this year’s World Environment Day, Chief…

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Orjiako To Step Down As Chairman Of Seplat Energy

Dorothy Ewa

Seplat Energy Plc has announced the decision of its Chairman Dr. A.B.C. Orjiako to step down as Chairman of the Board of Directors of Seplat Energy Plc. Orjiako notified the Board of Directors of his decision yesterday, November 17, 2021. According to a statement from the company, in order to facilitate an orderly transition Orjiako will remain as Chairman until the next Annual General Meeting in May 2022, when an Independent Chairperson will take over. Orjiako is the co-founder and pioneer of Seplat Energy. Since 2009, as Chairman of the…

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NNPC Advises Tanker Drivers To Shelve Planned Strike

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The Nigerian National Petroleum Corporation (NNPC) on Sunday in Abuja called on petroleum tanker drivers to call off its planned strike in the interest and welfare of Nigerians. “The strike is about the condition of roads in various parts of Nigeria used for the distribution of goods and services including petroleum products. “While it is not the responsibility of the NNPC to build or rehabilitate roads, any disruption in the distribution of petroleum products will adversely affect the business of the NNPC. “It will also endanger energy security, which the…

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Power: NERC faults report on ECR suspension

Dorothy Ewa

Following reports making the rounds that the Eligible Customer Regulation (ECR) has been suspended, the Nigerian Electricity Regulatory Commission (NERC) said that it was not true and that at no time had the commission issued a directive for discontinuation of service to any customer. In a statement made available to journalists yesterday, the commission said that its attention was drawn to the report in both electronic and print media that the ECR issued by the commission in 2018 had been suspended. The ECR was designed to provide a very simple process…

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OPEC sees steeper oil demand drop as virus remains challenging

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World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said on Monday, potentially making it harder for the group and its allies to support the market.     World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said on Monday, potentially making it harder for the group and its allies to support the market.   World oil demand…

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Subsidy: CSOs seek targeted projects for N15.4bn

Ose Ojeme

  Following revelation by the Federal Government that fuel subsidy removal had taken a burden of N15.4 billion of its shoulders monthly, a group of civil society organisations has advised that the money be deployed in targeted projects rather than keeping it in the federation account.   The advice was given during a virtual workshop in Abuja that was hosted by Media Initiative on Transparency in Extractive Industries (MITEI), a non-profit group of media practitioners committed to the promotion of transparency in the extractive industries and facilitated by Facility for…

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