THE Shell Petroleum Development Company of Nigeria Ltd, said that Africa can unlock the potential of the energy sector and drive energy security, transition and economic prosperity by embracing partnerships, technological innovation and sustainable financing.
Speaking at a ministerial panel session on “Navigating the new energy world order: Security, Transition and Finance” at the just-concluded 7th Nigerian International Energy Summit in Abuja, Managing Director, The Shell Petroleum Development Company of Nigeria Ltd (SPDC)and Country Chair, Shell Companies in Nigeria, Mr.… Read the rest
Nigerian Navy Ship Delta on Tuesday disclosed that there is a noticeable reduction in the tempo of crude oil theft and other maritime crimes in the Niger Delta region.
The outgone Commander of the NNS Delta, Commodore Chindo Yahaya, while speaking during a farewell parade organised in his honour at the Warri Naval Base, specifically stated that the negative trends “have reduced drastically in its areas of operations.”… Read the rest
On February 27-28, 2024, Naval Support Activity Naples, Italy, became the focal point for pivotal discussions between U.S. Naval Forces Europe-Africa (NAVEUR-NAVAF) and the Nigerian Navy. These high-level talks, steered by Adm. Stuart Munsch and Rear Adm. Zakariyyah Muhammad, zeroed in on enhancing capabilities, maritime domain awareness, and fostering stronger bilateral maritime ties. The engagement underscored the Nigerian Navy’s crucial role in safeguarding maritime security across Africa, particularly in the battle against piracy and unlawful maritime activities in the Gulf of Guinea.… Read the rest
Local activists and international environmental groups want Nigeria’s government to delay approving the sale of oil company Shell’s onshore assets, claiming Shell is trying to shirk its environmental and social responsibilities in the highly polluted Niger Delta.
The London-based company is trying to sell its subsidiary Shell Petroleum Development Company — which operates its onshore assets in the delta — to Renaissance Africa Energy Company, a consortium of local companies.… Read the rest
The Management of the Nigerian Maritime Administration and Safety Agency (NIMASA), on Wednesday handed over the ultra-modern complex housing the Institute of Marine and Transport Technology to the management of the University of Port Harcourt, Rivers State.
Dr.Bashir Jamoh, Director General of NIMASA said the building which is a donation from his Agency to the University, was the initiative of previous leadership of the Agency, but that on assumption as the Director General, he saw the need to review and commence the project.… Read the rest
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says it projects to attract about $17.64 billion investment inflow from 51 field development plan which it approved in 2022 and 2023.
Commission Chief Executive (CCE) of NUPRC, Mr. Gbenga Komolafe, disclosed this in his keynote speech during a panel session at the ongoing Nigerian International Energy Summit(NIES) 2024 in Abuja.
He added that the 51 fields will deliver cumulative oil recovery and gas recovery estimated at 2.12 billion barrels and 13.13 trillion cubic feet respectively in the coming years.… Read the rest
The African Export-Import Bank on Wednesday, disclosed that it has become the largest financier of oil and gas projects in Africa.
The bank disclosed investing $30bn in industry projects, with Nigeria receiving 60 per cent despite reduced global funding for hydrocarbon ventures in Africa
President, Afreximbank, Prof Benedict Oramah, said Africa has to find innovative solutions to its huge energy deficit.… Read the rest
Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, has assured that International Oil Companies (IOCs) were not divesting from Nigeria but were rather moving from onshore and shallow waters to offshore which requires more investment.
Lokpobiri gave this assurance at the opening session of the 7th Nigeria International Energy Summit (NIES) 2024 in Abuja on Tuesday.
LEADERSHIP reports that the minister’s position is notwithstanding a 69 per cent decline in investments in Nigeria’s oil and gas sector in the last five years.… Read the rest
The Maritime Workers Union of Nigeria said it will join the two-day nationwide protest being organised by the Nigeria Labour Congress.
This was contained in a statement on Monday by the Head of Media, MWUN, Kennedy Ikemefuna.
Ikemefuna said the move was necessary following the directive of NLC that its affiliate members across the nation should strictly comply.
The PUNCH reported that on February 16, the NLC announced the nationwide protest scheduled for Tuesday and Wednesday over the alleged government’s failure to implement agreements reached between both parties on October 2, 2023, following the removal of the fuel subsidy.… Read the rest
Efforts by Shell to promote Nigerian content have led to more indigenous companies executing key contracts in oil and gas operations on land and in deep water.
Indigenous contractors deployed a technology for automated tank cleaning at Bonny Terminal for The Shell Petroleum Development Company of Nigeria Limited (SPDC), while locally manufactured stud bolts, nuts and flanges as well as sand screens are being used for well operations.… Read the rest