Algeria has allocated 260 billion dinars ($1.93 billion) to cut energy consumption by 10 percent by 2030, a senior official said on Sunday, according to the state news agency. Marouane Chaaban, head of the Algerian National Agency for the Promotion and Rationalisation of Energy, said the money will be used to implement a 2023-2030 plan […]Read More
The Board and Management of Seplat Energy Plc has appointed Chioma Y. Afe as the Director, External Affairs and Sustainability effective June 15, 2023, the company said in a release. Afe is an accomplished strategic Senior Communications Executive and Business Leader with over 25 years’ experience in developing and implementing high-impact communication strategies that drive […]Read More
The Nigerian Labour Congress and the Trade Union Congress have agreed to suspend the planned nationwide strike scheduled to begin on Wednesday. The strike was suspended after hours of talks between the government and labour unions. The government, led by Speaker of the House of Representatives Femi Gbajabiamila, agreed to review the unions’ demands. The […]Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced that it will end its oil swap contracts with traders and will instead pay cash for petrol imports. The move is part of a broader plan to deregulate the petrol market and reduce the burden on government finances. Under the current oil swap arrangement, the NNPC […]Read More
The Nigerian National Petroleum Company Limited (NNPCL) has entered signed agreements with five energy organisations for the renewal of the Oil Mining Lease (OML) 13 suite. These organisations include, China National Offshore Oil Corp, South Atlantic Petroleum, Total Upstream Nigeria Limited, PRIME 130 and the Nigeria Upstream Petroleum Regulatory Commission. The NNPCL tweeted that the […]Read More
The federal government led by Muhammadu Buhari has completed the Zungeru hydropower project. This is according to Federal Minister of Power, Abubakar Aliyu. The minister, who shared information via his Twitter account said the project is complete and ready to increase the country’s power capacity by supplying power to the Transmission Company of Nigeria (TCN). […]Read More
Angola overtook Nigeria to become Africa’s top oil producer in April 2023, according to direct reporting data from the April 2023 Organization of the Petroleum Exporting Countries (OPEC) Monthly Oil Market Report (MOMR). The report shows that Angola recorded crude oil production of 1.06 million barrels/day in April 2023. Nigeria recorded crude oil production of […]Read More
The International Renewable Energy Agency (IRENA) today launched a new initiative aimed at supporting young entrepreneurs and innovators in driving the renewable energy transition. The new IRENA NewGen Renewable Energy Accelerator (NewGen), will provide capacity building, mentorship and other resources to youth-led projects and start-ups that are developing innovative solutions to advance the adoption of […]Read More
The federal government’s efforts to make the country self-sufficient in crude oil refining to save scarce foreign cash utilised in petroleum product importation have received a boost as the 650,000 barrels per day capacity has been reached. President Muhammadu Buhari will inaugurate the Dangote Refinery, the world’s largest single-train refinery, on May 22. A source […]Read More
Nigeria’s state oil company, NNPC Ltd, announced late Wednesday that it had signed a memorandum of understanding with Golar LNG of Norway to build a floating liquefied natural gas plant in the country. Nigeria, Africa’s largest oil producer, has some of the world’s largest gas reserves and is looking for investment to boost domestic supplies […]Read More
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