Afreximbank, APPO call for Continental Energy Bank
Two key players in the continental oil and gas industry, the African Petroleum Producers’ Organisation (APPO), and African Export-Import Bank (Afreximbank) have called for the establishment of an African Energy Transition Bank. The call is contained in a joint communiqué…
Total grows its revenue from the higher-margin lubricant segment
TOTAL’s Q1-22 result reflects the company’s sustained dominance in the downstream oil and gas space despite the challenges brought by the fuel crisis experienced during the quarter. Experts say TOTAL was able to substantially grow its revenue from the higher-margin…
Just in: World’s 20 least-electrified countries in Sub-Saharan Africa—Minister
The Minister of State, Petroleum Resources, Chief Timipre Sylva has averred that “the world’s 20 least-electrified countries are in Sub-Saharan Africa, where most of the global unserved population live.” Speaking in a Keynote Address at the on-going 2022 Society of…
Oilserv mulls renewal of moribund petroleum pipelines
Leading Indigenous Engineering Procurement and Contract (EPC) Company, Oilserv Limited has concluded plans to buy over all moribund Nigerian National Petroleum Company (NNPC) pipeline distribution systems and renew them for energy purpose. In an interview, Group Chairman, Oilserv, Mr Emeka…
Innoson expands into oil & gas in Sierra Leone with mega find
Nigerian car manufacturing giant and multinational oil and Gas Company, Innoson Oil and Gas (IOG) has hit a mega gas find in Sierra Leone, a neighbouring West African country. The company is an arm of the Innoson Group that also…
OPEC in trouble as US enacts NOPEC Act
The US Senate Judiciary Committee on Thursday (5th May 2022) approved the passage of a bill – No Oil Producing and Exporting Cartels (NOPEC) Act – that could open the Organisation of Petroleum Exporting Countries (OPEC) to antitrust lawsuits over…
World Malaria Day: How Chevron Nigeria supports the fight against malaria
World Malaria Day is celebrated annually on the 25th day of April. It is an occasion to highlight the need for continued investment in malaria prevention and control programmes. Malaria has become a major source of concern in our society,…
Total’s EPS growth driven mainly by solid revenue growth (+46.3% y/y)
TOTAL published its Q1-22 unaudited results yesterday (28 April), reporting EPS of NGN12.86 (Q1-21: NGN8.75), translating to a growth of 47.0% y/y. The EPS growth was driven mainly by solid revenue growth (+46.3% y/y) and moderation in net finance cost…
Those Illegal Refineries in Imo/Rivers States & Consequences of Illegality
By Fred Chukwuelobe Over 150 lives lost. Properties destroyed. People’s livelihood shattered. Yet, the nation is not mourning. The people are tired of mourning. Lives have become so cheap. Nobody cares anymore. What we care about now is who becomes…
Stalled Brass Liquefied Natural Gas’ll be revived soon—FG
Former Governor of Bayelsa State and Minister of State, Petroleum Resources, Chief Timipre Sylva, has pledged commitment to the completion of the stalled Brass Liquefied Natural Gas (BLNG) as the Federal Government seeks new investors to revive the project. Sylva,…
