News

World Liquid Fuels Use Estimated to Rise 38% by 2040

World petroleum and liquid fuels consumption is estimated to increase by 38 percent by 2040, according to projections in the newly released International Energy Outlook 2014 produced by the United States Energy Information Administration (EIA).

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Sharing the Wealth from Extractive Industries: Scholar Advocates for a Review of Nigeria's Revenue Distribution Strategy

Professor Yinka Omorogbe presented a paper titled, “Sharing the Wealth: Strategies for Distribution of Wealth from Petroleum and Other Extractive Industries” in the CPEEL Special Seminar Series which held on the 28th of August, 2014.

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Brent Crude Falls to 13-Month Low: Now below $103 per barrel

Brent crude slumped to a 13-month low below $103 a barrel on Friday as an unstable European economy increased concern about demand in a well-supplied oil market.

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Powering Rural Communities: CPEEL Partners with the Department of Agriculture Extension and Rural Development, University of Ibadan on the Establishment of Energy Research Village

The rate of growth in rural communities’ socio-economic attributes and food production is being curtailed by energy shortage. Indeed, it cannot be overstated that entrepreneurship and innovation are important in advancing socio-economic attributes and agriculture business in Nigeria.

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Oando – ConocoPhillips Oil Deal: Spotlight on Indigenous Companies and the Future Of Oil And Gas Sector

The recently concluded acquisition by Oando Plc., of ConocoPhillips upstream oil and gas interests and assets hints at the emerging reality of the changing ownership structure in Nigeria’s oil and gas industry.

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Kenya to Join the League of Oil Producers By 2017

With recent efforts of UK-listed Tullow Oil and Partners, Australia’s Africa Oil Corporation to submit a field development plan(FDP)by 2015,  it is expected that Kenya will join the league of oil producing countries in sub-Saharan Africa by 2017.

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EU Supports Nigeria with N3.4bn on Renewable Energy

Allan Munday, Acting Head of the European Union (EU) delegation to Nigeria and the Economic Community for West African States (ECOWAS) said the EU had given more than N3.4 billion grant to boost renewable energy in Nigeria under the Nigeria Energy Support Programme (NESP).

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Nigeria’s Crude Oil Production Increases by 2.3%

The Organization of Petroleum Exporting Countries (OPEC), in its July report, stated that Nigeria’s crude oil output was up by 43 barrels per day or 2.3 percent to reach 1.911 million barrels per day (mbpd) in June, from 1.868 mbpd recorded in May.

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N30bn Gas Supply Debt Weighs Down Power Sector Growth

The growth of Nigeria’s gas and power sector is being curtailed by the inability of power sector operators to pay up the over N30 billion they owe the Nigeria Gas Company, a subsidiary of the Nigerian National Petroleum Corporation(NNPC).

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