Full-year 2018 results from Seplat Petroleum Development Co. the indigenous oil and gas company dual-listed in Lagos and London, may have encouraged some investors that the Nigerian energy sector is turning the corner. Standard & Poor’s in January upgraded Seplat to B in anticipation of improved results. While profit was hurt by deferred tax, revenue…
By Oke Peter The African Development Bank (AfDB) will double its climate finance commitment for the period 2020-2025, the Bank’s President, Dr. Akinwumi Adesina announced Thursday. He said the Bank would commit at least $25 billion towards climate finance. Speaking at a plenary in the presence of heads of states at the One Planet Summit…
Ajibola Esther – Lagos The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria and the United States of America had been very good partners with about $35billion worth of trade between the two countries. The group managing director of NNPC, Maikanti Baru, who disclosed this during a meeting with the US Energy Secretary, Rick…
By Tsvetana Paraskova – The United States sanctions on Venezuela’s oil industry have not had a significant impact on the operations of the largest U.S. refiner Marathon Petroleum Corp, chairman and chief executive officer Gary Heminger said at IHS Markit’s CERAWeek conference in Houston. According to Heminger, Marathon Petroleum had seen sanctions coming a long…
United Nations Environment and the European Union (EU) came together at UN Environment in Nairobi, Kenya today to share insights on SWITCH to Green — a major global initiative that supports governments in their transition to green economies. The primary aim of SWITCH to Green is to turn environmental challenges into opportunities. It is based…
