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The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report…
December 23, 2021
AThe Nigerian National Petroleum Company (NNPC) Limited has announced a trading surplus of ₦141.96 billion recorded in June 2021, compared to a deficit of ₦37.46 billion in May 2021. A statement by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, on Sunday stated that this was contained in the June 2021 figures of…
December 13, 2021
...Across the world, politicians are grappling with the reality of expensive energy ...Price shocks, scarcity and energy poverty are on the cards after two consecutive years of underinvestment in the oil and gas industry ...World leaders might have to acknowledge that oil and gas demand are here to stay for the foreseeable future "Our products…
December 9, 2021
A flood of bullish factors have sent oil prices higher at the start of the week, with fears about Omicron fading on the back of some promising reports. Chart of the Week - The purported aim of the US government’s decision to release 50 million barrels of crude in January-April 2022 – to bring gasoline…
December 8, 2021
Electricity workers in Nigeria's capital Abuja are threatening to down tools and join the looming strike action by the Organised Labour, sources have told The New Diplomat. It was gathered that the planned strike would be in continuation of a warning strike which held weeks ago amid the ongoing call on the federal government by…
December 6, 2021
Two weeks after curtain fell on United Nations Climate Change Conference, COP26 in Glasgow, Nigeria's staunch commitment to net-zero emissions plans -- described as a false solution pushed by polluting entities to evade responsibility on the climate crisis has been unsettling. On top of that, the country’s inconsistent net-zero targets have set tongues wagging and…
November 26, 2021
...Increased scrutiny and pressure on companies from investors and society could lead to trillions in stranded assets ...Businesses are waiting for details on carbon markets and carbon emission rules and, potentially, carbon taxes, before re-evaluating their assets ...IRENA: the value of assets stranded in the upstream fossil fuel sector would total $3.3 trillion by 2050…
November 24, 2021
...BP CEO Looney: Oil and gas will have a role to play in the energy system for decades to come ...Any scenario, even the International Energy Agency’s Net-Zero by 2050 scenario, predicts that there will still be demand for oil in 2050 Oil and gas will have a role to play in the energy system…
November 16, 2021
The Federal Government has announced the decision to increase the cost of both single-phase and three-phase electricity meters. This announcement was made in a circular issued on 11th of November, 2021 by the Nigerian Electricity Regulatory Commission (NERC). In the circular addressed to all electricity distribution companies, meter asset providers across the country, the NERC…
November 12, 2021
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The Nigerian National Petroleum Company (NNPC) Ltd. says the Petroleum Products Marketing Company (PPMC), its downstream subsidiary made a sum of ₦203.73 billion on the sale of white products in July 2021. This is contained in the July 2021 figures of the NNPC Monthly Financial and Operations Report (MFOR), the 72nd edition of the Report…
December 23, 2021
AThe Nigerian National Petroleum Company (NNPC) Limited has announced a trading surplus of ₦141.96 billion recorded in June 2021, compared to a deficit of ₦37.46 billion in May 2021. A statement by Garba Muhammad, Group General Manager, Group Public Affairs Division, NNPC, on Sunday stated that this was contained in the June 2021 figures of…
December 13, 2021
...Across the world, politicians are grappling with the reality of expensive energy ...Price shocks, scarcity and energy poverty are on the cards after two consecutive years of underinvestment in the oil and gas industry ...World leaders might have to acknowledge that oil and gas demand are here to stay for the foreseeable future "Our products…
December 9, 2021
A flood of bullish factors have sent oil prices higher at the start of the week, with fears about Omicron fading on the back of some promising reports. Chart of the Week - The purported aim of the US government’s decision to release 50 million barrels of crude in January-April 2022 – to bring gasoline…
December 8, 2021
Electricity workers in Nigeria's capital Abuja are threatening to down tools and join the looming strike action by the Organised Labour, sources have told The New Diplomat. It was gathered that the planned strike would be in continuation of a warning strike which held weeks ago amid the ongoing call on the federal government by…
December 6, 2021
Two weeks after curtain fell on United Nations Climate Change Conference, COP26 in Glasgow, Nigeria's staunch commitment to net-zero emissions plans -- described as a false solution pushed by polluting entities to evade responsibility on the climate crisis has been unsettling. On top of that, the country’s inconsistent net-zero targets have set tongues wagging and…
November 26, 2021
...Increased scrutiny and pressure on companies from investors and society could lead to trillions in stranded assets ...Businesses are waiting for details on carbon markets and carbon emission rules and, potentially, carbon taxes, before re-evaluating their assets ...IRENA: the value of assets stranded in the upstream fossil fuel sector would total $3.3 trillion by 2050…
November 24, 2021
...BP CEO Looney: Oil and gas will have a role to play in the energy system for decades to come ...Any scenario, even the International Energy Agency’s Net-Zero by 2050 scenario, predicts that there will still be demand for oil in 2050 Oil and gas will have a role to play in the energy system…
November 16, 2021
The Federal Government has announced the decision to increase the cost of both single-phase and three-phase electricity meters. This announcement was made in a circular issued on 11th of November, 2021 by the Nigerian Electricity Regulatory Commission (NERC). In the circular addressed to all electricity distribution companies, meter asset providers across the country, the NERC…
November 12, 2021
