Coordination is hampered by OPEC+'s output decision.
OPEC+ has postponed a decision on the size of crude oil production increases, increasing concerns about the alliance's ability to coordinate output and underlining policy differences.
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Off-Grid Technology for Bridging the Industry-Academic Gap
All inventions originate in academia. For ages, academia has played a significant role in the advancement of the most important innovations. For example, Bill Gates, Elon Musk, and other Academia graduates can now be regarded as heroes due to their ideas and achievements.
Host communities fund off-point dialogue in the post-oil age.
Since both chambers of the National Assembly passed the Petroleum Industry Bill (PIB) on July 1, the host community provision has sparked debate, drowning out the prospect of energy transition.
Daystar Power has received $20 million from IFC to complete projects.
Daystar Power, a West African company that provides hybrid solar power solutions, announced Tuesday that it has finalized a $20 million loan from the International Finance Corporation (IFC).
After OPEC+ talks were canceled, oil prices continued to rise.
Following the cancellation of OPEC+ talks, oil prices are rising to levels not seen since 2018, raising predictions that supplies will tighten further just as global fuel consumption recovers from a COVID-19-induced downturn.
Renewable energy usage is increasing in Nigeria, paving the way for long-term economic growth.
Renewable energy, in addition to delivering enhanced and consistent electric power and a cleaner environment, has demonstrated that it has numerous economic, environmental, social, and financial benefits as it gains traction, notably in Nigeria.
NDEP Plc accepts payout of dividends to shareholders despite COVID-19.
On Tuesday, June 29, the Niger Delta Exploration & Production (NDEP) Plc, a major independent integrated energy company, conducted its 26th Annual General Meeting, at which its shareholders authorized a dividend per share of N7.00, marking the company's 15th consecutive year of dividend payme
Nigeria misses out on a resurgence in global offshore exploration.
There is a wave of booming global Floating Production, Storage and Offloading (FPSO) expected in the second half of 2021 and 2022, but Africa’s biggest oil producing country is missing out despite having more than half of its oil and gas blocs idle.
There is a market overstock as the EFCC pursues the oil tycoons.
Because of the move by the Economic and Financial Crimes Commission (EFCC) to clamp down a lucrative black market for petrol smuggling and fish out "Petrol Kings," Africa's largest oil producing country is currently swimming in an excess supply of petrol.
The adoption of the PIB in June has been delayed again more due to concerns about increased revenue for host cities.
With less than a week until the latest deadline to pass the long-awaited Petroleum Industry Bill (PIB), recent developments reveal that a deal to provide 10% of derived oil revenue to host towns, rather than the existing 2.5 percent, could prolong the bill's passage into late this year.