A new Rocky Mountain Institute (RMI) study, Creating a Profitable Balance: Capturing the $110 Billion Africa Power-Sector Opportunity, shows that status quo energy systems could cost African nations up to $180 billion over the next decade, more than 2.5 times the 2016 gross domestic product of Kenya. If thoughtful
The amount spent on fuel subsidy by the Nigerian National Petroleum Corporation increased by N58.6bn within one month, the latest figures released by the corporation on its financial report for July 2019 has shown.
Ajuri Ngelale, Senior Special Assistant to President Muhammadu Buhari on Public Affairs, says gas is the new oil and future of Nigeria. Mr Ngelale said this in an interview with News Agency of Nigeria (NAN) in Abuja, while speaking on government’s effort at combating Climate Change issues, particularly gas
The OPEC+ oil-production cuts deal could be improved by taking into account forecasts for global crude-demand growth and U.S. shale, Gazprom Neft PJSC Head of Strategy and Innovation Sergey Vakulenko said in an interview on Wednesday. “We think that the mechanism of the alliance might become more sophisticated. Currently
A total of N1.4 billion has been voted by the Ministry of Petroleum Resources to address critical challenges affecting Nigeria’s oil and gas sector, especially pipeline infrastructure as well as inadequate data. Nigeria’s oil pipeline vandalism hits an all-time high of 115 per cent in July this year after
The Nigerian Association Petroleum Explorationists (NAPE), has urged the Federal Government to address concerns bordering on the long contracting cycle in the petroleum industry, adding that such practice continues to hamper investments and development. According to the body, the long contracting cycle results in a high level of uncertainties
The Nigerian Agip Oil Company has announced a shut-in of its oilfield in Aggah community in Ogbia/Egbema Local Government Area of Rivers State, following pipeline leakage to forestall further damage to the environment.