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Chevron Unveils $300Mn Green Energy Investment Fund

Chevron, one of the world’s major hydrocarbon resources industry operators, on Thursday unveiled a $300 million fund focused on low-carbon technology, as most global oil and gas entities continue to intensify their investment drives in green energy and tackle climate change problems. Over the past few years, most major energy companies have set targets to […]

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African Energy Chamber’s President Seeks Timely Passage Of PIB

The President of the African Energy Chamber (AEC), NJ Ayuk, on Friday urged the Nigerian Government to fast-track the Legislature’s ongoing deliberations on the Petroleum Industry Bill 2020 and enact it in view of its positive implications for improved investments in the continent’s energy sector. Ayuk, in an opinion article titled ‘Africa needs Pragmatic Free […]

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Chamber Charts Roadmap To Boost Investments In Africa’s Energy Sector

The Investment Committee of the African Energy Chamber (AEC) has concluded its second meeting since inauguration with the members unveiling a new agenda that will facilitate raising billions of US dollar investments for energy projects in Africa. A news report by the African Press Organisation(APO) Group distributed for the AEC indicated that the committee acknowledged […]

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Senate Orders Arrest Of NDDC Mgt Over Alleged N2.6Bn Misappropriation

The Senate has issued an arrest warrant for the management of the Niger Delta Development Commission (NDDC) over failure by the members to appear before it over alleged N2.6 billion palliative fund misappropriation perpetration by them. The Chairman of the Senate Committee on Public Petition, Ethics and Privileges, Senator Ayo Akinyelure, gave the order after […]

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Buhari, Governors To Decide On Fuel Pump Price

President Muhammadu Buhari and the 36 states governors will on Thursday decide on a new petrol pump price at a meeting to be held at the Presidential Villa, Abuja. Minister of Labour and Employment, Senator Chris Ngige, who disclosed this on Sunday after a bipartite meeting at the Villa said the government had finished discussions […]

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Chamber Tasks African Govts On Measures To Grow Energy Sector

The African Energy Chamber’s Regulatory Affairs Committee has canvassed a three-point policy measure required for implementation by African governments to stimulate African energy sectors growth in spite of the COVID-19 pandemic ravages on various sectors of the continent’s economies. The recommendations derived from chamber’s Regulatory Committee’s first meeting of the year to discuss regulatory matters […]

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Petrol Price To Rise As FG Mulls Bridging Cost Adjustment

There are strong indications that petrol pump price per litre and may be hiked within the next two weeks as the Federal Government is considering a 20 percent adjustment in the cost of freighting petrol across the country. The move, which is part of measures by the fiscal authorities to boost the revenue of transport […]

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Oil Prices Slide Amid Global Economic Uncertainty

Oil prices slumped on Monday as Coronavirus cases surge continues to trigger tighter restrictions in Europe and China. However, some signals of growth in gross domestic product (GDP) and industrial production data from China helped to thaw the downward slide in oil prices to some extent. Available data on the early trading in the international […]

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NNPC Reports $120.49Mn Crude Oil, Gas Export Earnings

The Nigerian National Petroleum Corporation (NNPC) has announced a total export receipt for crude oil and gas valued at $120.49 million for the month of September 2020. A statement issued by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, on the proceeds indicated that the export receipt represented a 16.28 percent […]

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Akwa Ibom Threatens To Sanction Oil Firms Over Tax Evasion

Akwa Ibom State Internal Revenue Service (AKIRS) has threatened to sanction oil companies operating in the state over unremitted taxes, saying that such fiscal dereliction by them will no longer be tolerated by the state government. The Chairman of the Service Board, Mr. Okon Okon, cautioned the oil firms against all forms of tax evasion […]