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NCDMB pledges sustained African local content devpt
The Nigerian Content Development and Monitoring Board (NCDMB) is ever ready to support other African nations in developing and implementing local content policies as a strategy for improving indigenous participation and value optimization from hydrocarbons and mineral resources. The Executive…
Wabote emerges Leadership Local Content Champion of the Year
NCI Fund the most performing funding scheme The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has been selected as the recipient of the Leadership Local Content Champion of the Year Award by…
How ExxonMobil earned $6.3 bn/hour, $153 m/day, $56 bn profit in 2022
Sopuruchi Onwuka By controlling cost and taking full advantage of strong demand and high market prices, American multinational oil firm, ExxonMobil, posted annual profit of $56 billion in 2022. The company’s financial performance in the year translates to average daily…
Cash crunch stalls transactions, fuel breaches as banks
Sopuruchi Onwuka Glitches in the phase out of old currency notes in the Nigerian markets have led to acute cash shortages, transaction failures and worsening hunger across cities; forcing desperate customers to breach security rules as they demand access to…
Fossil to account for 20% of energy mix by 2050
Sopuruchi Onwuka The highly credible BP energy outlook holds that the world will displace some 60 percent of fossil fuels with greener renewable energy in the next 28 years as the prevailing energy transition continues to gather momentum in response…
How WIEN expands African battlefields for gender equity
Sopuruchi Onwuka The global war for gender equity is growing widened battlefields in Africa where female stalwarts are stepping forward with powerful programmes and advocacies that deliver statements on the determination of women and girls to unleash bottled up potentials…
Moody’s gloom rating hits Nigeria’s bonds
The downgrade of Nigeria’s economy by international rating agency, Moody’s, has started taking immediate tolls on the country’s debt instruments in the international money market as the report highlights increasing risks associated with the nation’s gloomy financial system. Moody’s Investors…
Benin Republic calls Zenith to deal on Sèmè oilfield
Sopuruchi Onwuka, with agency reports Government of Benin Republic has called Zenith Energy come for negotiation on the terms of a production sharing contract (PSC) on the prospective Seme oilfield, just close to the same location Nigerian government is preparing…
ADNOC activates $15bn decarbonization with CO2 injection project
Abu Dhabi National Oil Company (ADNOC) has launched the country’s plan to deliver on its Net Zero by 2050 ambition. ADNOC said it has started a CO2 injection well for full capture and sequestration of CO2 into Abu Dhabi’s carbonate…
Addax finally acquires Knock Adoon FPSO after protracted lease
Sopuruchi Onwuka Nigerian based independent petroleum exploration and production company, Addax, as finally taken ownership of the main production vessel which has been pumping and processing oil and gs from operated mining license offshore Niger Delta. The acquisition of the…
