Six months after the Federal Government’s proposed plan of floating a national carrier, stakeholders have intensified the call for the establishment of a national fleet and vessel ownership by individuals to enable the country to participate in international shipping trade.
Recall that a former Minister of Transportation, Rotimi Amaechi, had in 2016, unfolded the Federal Government’s plan to float a new national shipping line.… Read the rest
The Nigerian National Petroleum Company Limited, on Sunday, announced the appointments of three new Executive Vice Presidents.
NNPCL appointed Oritsemeyiwa Eyesan as the new Executive Vice President, of Upstream; Olalekan Ogunleye as Executive Vice President, of Gas, Power, and New Energy; and Adedapo Segunas as the Executive Vice President, of Downstream.
The announcement, which was posted on the company’s X (formerly Twitter) handle early Sunday, stated that the appointment of the new EVPs was with immediate effect.… Read the rest
Nigeria and other global energy leaders will today converge at the 24th edition of the World Petroleum Congress in Calgary, Canada to deepen talks on sustainable energy transition.
Group Chief Executive Officer of Nigerian National Petroleum Company(NNPCL), Mr. Mele Kyari, is expected to be on a panel session at the global energy event to be supported by the Commission Chief Executive Officer of the Nigerian Upstream Petroleum Regulatory Commission(NUPRC), Mr.Gbenga… Read the rest
The Nigerian National Petroleum Company Limited (NNPCL) on Saturday announced it has signed a gas supply agreement with Indorama Eleme Petrochemicals Limited.
According to NNPCL, the signing of the agreement was in a bid to promote the use of natural gas by large-scale gas utilization industries.
“NNPC Ltd. and Indorama Eleme Petrochemicals Ltd., have signed a Memorandum of Understanding (MOU) to explore and develop suitable opportunities within the remits of both parties’ interests across the hydrocarbon value chain in Nigeria,” the oil firm said in a statement signed by Garba Deen Muhammad, the company’s chief corporate communications officer on Saturday.… Read the rest
More than 600 years ago, Zheng He, a Chinese navigator, led fleets to sail across oceans to Africa with precious goods such as gold, silver, silk, porcelain, tea, and so on, opening the “Maritime Silk Road” and conveying China’s wish for good relations with Africa.
Nowadays, the 43rd escort fleet of the Chinese Navy visited beautiful Africa once again in the fleet of cooperation, peace, and friendship, commencing friendly visits to five West African countries, including Nigeria.… Read the rest
The Fridays For Future (FFF) Nigeria and Climate Live Nigeria, has called for an end to fossil fuels production and usage in Nigeria.
Mr Kingsley Odogwu, National Coordinator and Country Representative of the organisation said this at the Climate Justice Road-walk campaign, on Friday in Abuja.
He said that the campaign was aimed at raising awareness on the effects of fossil fuels and the need for the Federal Government to transit to renewable energy sources.… Read the rest
Containers are piling up at the nation’s seaport terminals. Government agencies not directly involved in cargo clearing are now making doing business more difficult for importers by detaining containers already released by the Nigeria Customs Service (NCS).
BusinessDay discovered that agencies such as the Maritime Police Division of the Nigeria Police Force, the Agricultural Quarantine Service, the Nigerian Drug Law Enforcement Agency (NDLEA) and the Standards Organisation of Nigeria (SON) interfere with containers released by Customs.… Read the rest
Nigeria’s petrol imports declined in the second quarter of the year on the back of the removal of subsidy, even as the further rise in global oil prices is expected to push up the cost of bringing the product into the country.
BusinessDay’s analysis of new data from the National Bureau of Statistics shows the importation of petrol dropped by 17.5 percent to N1.23 trillion from N1.49 trillion in Q1.… Read the rest
Electric vehicle sales have been growing exponentially, and several countries are showing it’s possible to scale up EV sales fast enough to meet climate goals. Netherlands, one of them is a major buyer of Nigerian crude, a development that puts a clock on the resource.
The rise in electric vehicle adoption does not bode for oil producers especially Nigeria which is unable to exploit fully its crude oil resources at a time when energy think tanks are placing the commodity’s all-time high demand period as early as the next seven years.… Read the rest
Following several failed attempts to resolve pending issues, crude oil refinery operators have confirmed that the volume of crude oil required for the production of refined petroleum products by modular refineries is not being met by the Federal Government.
It was also gathered that all functional modular refineries in Nigeria are refining below capacity and making losses daily.
“All (modular refineries) are refining below capacity and making losses daily, as the only feedstock currently available to them is what those that have marginal fields are producing, or what they can buy from indigenous companies around them that have marginal fields,” said Dolapo Kotun, the Deputy Chairman of the Crude Oil Refinery Owners Association of Nigeria (CORAN).… Read the rest