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…
By Oke Peter President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation (NNPC) to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company (SPDC). According to a letter from State House, Abuja, to the Group Managing Director of NNPC, dated March 1, 2019, with reference number SH/COS/24/A/8540…
Fresh from his comfortable re-election, Nigerian President Muhammadu Buhari faces a huge hurdle to keep his vow to end the economy’s addiction to oil: win a lasting peace in the crude-rich Niger River delta. The 76-year-old former military ruler will have to score a breakthrough that’s eluded previous governments in an area where armed groups…
Eight months after the signing of the Front End Engineering Design contract for Train 7 of the Nigeria LNG Limited, there is still uncertainty as to when the shareholders will take the final investment decision on the project. The Punch newspaper has reported. The Nigeria National Petroleum Corporation (NNPC), which is one of the shareholders,…
Being a text of an address by Mr. Siim Kiisler, President of the fourth UN Environment Assembly and Ms. Joyce Msuya, Acting Executive Director of UN Environment at the opening plenary of Fourth United Nations Environment Assembly in Nairobi, Kenya. Honourable Minister Siim Kissler, Minister of Environment for Estonia and President of the fourth UN…
Access to clean energy in the Gambia is set to be transformed under a new €142 million initiative to harness solar power and supply clean energy across the country, backed by the European Investment Bank, World Bank and European Union. Once operational the scheme will increase energy supply in the Gambia by one fifth and…
By Oke Peter The United States cut its imports of Nigerian crude oil by 48.87 million barrels or 43 percent in 2018, according to the latest data released by the Energy Information Administration. The US imports of Nigerian crude fell to 64.06 million barrels last year from a five-year high of 112.92 million barrels in…
