Damilola Shittu – Abuja Five firms have submitted financial and technical bids to purchase a 51 percent stake in the Afam Power Plc – an electricity generation company – and Yola Electricity Distribution Company. Head, Public Communications at the Bureau of Public Enterprises, Amina Othman, disclosed this in a statement made available to our correspondent…
There appears to be no let-up in the activities of vandals who in December last year pushed pipeline breaches across the Country by a whopping 34 percentage point, NNPC Group General Manager, Group Public Affairs Division, Mr. Ndu Ughamadu, stated this in a release Sunday in Abuja. Ughamadu said the upward swing in the breaches…
By Vanand Meliksetian The electrification of most industrialized societies has taken off in a big way. In the EU and China government support such as regulations and subsidies are pushing automakers towards alternative technologies which don’t utilize fossil fuels as a source of energy. Also, in North America, despite Trump’s support for the fossil fuel…
By Tsvetana Paraskova Royal Dutch Shell has set its first-ever short-term goals to cut the carbon footprint of its operations and product sales as the oil and gas industry is under intense investor and shareholder pressure to address to climate change. In its annual report published on Thursday, Shell said that in early 2019, it…
With India signing an agreement to import 0.6 million barrels of oil from the United States, Nigeria’s crude exports could further be threatened if new markets are not explored, a new report has revealed. The research noted that India was Nigeria’s top crude oil buyer in five of the last six years. According to The…
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…
