NNPC Ltd, UTM Sign Deal on 1.5MTPA Floating LNG Project In a major step towards bolstering Nigeria’s energy security and promoting the utilization of its abundant gas resources, the NNPC Ltd and UTM Offshore Limited have today in Abuja signed a Heads of Terms (HoT) agreement for the construction of the nation’s first indigenous […]
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ENERGY CRISIS: Global electricity demand to rise in 2024 — IEA By Eyo Nsima The International Energy Agency, IEA, forecast has it that the global electricity demand will ease in the remaining part of 2023, but rise again in 2024. In its latest report – Electricity Market Report Update Outlook for 2023 and 2024 –
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MARITIME: Four Stowaways Discovered During Transatlantic Voyage By Our Correspondent Four men have been taken into custody by the Brazilian Police after being discovered on top of the rudder of a ship that had just completed a 13-day transatlantic voyage, according to FleetMon. It stated: “While claiming to be Nigerian, the men were unable to
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MARITIME ACCIDENT: How Container ship capsized after collision off Ningbo By Our Correspondent A Container ship XIN YUAN LONG 6 collided with the sand carrier (no details) on the morning of July 17, shortly after leaving Ningbo, China, according to FleetMon. It stated: “Sand carrier sank. XIN YUAN LONG 6 suffered hull breaches or breaches,
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COLLABORATION: CBN, CBE sign MoU on Nigeria-Egypt FinTech Bridge By Eyo Nsima The Central Bank of Nigeria, CBN and the Central Bank of Egypt, CBE, have signed a Memorandum of Understanding, MoU, targeted at establishing a Nigeria-Egypt FinTech Bridge. The MoU was signed during the just-concluded Seamless North Africa 2023 conference, which took place
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Nigeria’s rig count rises 27.3% to 14 — OPEC By Eyo Nsima The Organisation of Petroleum Exporting Countries, OPEC, has disclosed that Nigeria’s rig count rose, year-on-year, YoY, by 27.3 per cent to 14 in June 2023, from 11 in June 2022. It also maintained that on month-on-month, MoM, the country’s rig count rose by
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How Governor Adeleke commended First Bank for reopening Ede Branch By Eyo Nsima Osun State Governor, Ademola Adeleke, has commended the management of First Bank for rebuilding and reopening its branch in Ede, Osun state. Speaking at the inauguration of the strategically located branch Friday, he said: “The conditions responsible for the closing of Banks’
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NIGERIA’s HIGH FUEL PRICE: It’s not about NNPC but market fundamentals — IPMAN By Eyo Nsima The national operations controller, Independent Marketers Association of Nigeria, IPMAN, Mike Osatuyi, said the high price of petrol in Nigeria does not have much to do with the NNPC Limited. According to him, the high price of the product
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JUST IN: NNPCL increases petrol pump price to N617 per litre By Eyo Nsima NNPC Limited has raised the petrol price to N617 per litre from N537 in Abuja, Nigeria. The company has not given reasons for the change in price, but operators are allowed to increase or reduce prices in the spirit of deregulation.
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NASENI Invites Producers of Lithium Batteries to Manufacture in Nigeria Receives Chinese delegation The National Agency for Science and Engineering Infrastructure (NASENI) is calling on investors to collaborate with the Agency in local production and domestication of Lithium batteries among other renewable energy solutions. The Executive Vice Chairman/CEO of NASENI Dr, Bashir Gwandu speaking
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