Oil & Gas

Nigeria: Lawan, Gbajabiamila vow to break Petroleum Industry Bill jinx and pass it

The leadership of the Nigerian National Assembly said Monday that the ninth Assembly will break the jinx of not being able to pass the Petroleum Industry Bill after several attempts. The President of the Senate, Ahmad Lawan and the Speaker...

Unions suspend planned strike that could have shut down Nigeria

Nigerian labor union on Monday suspended a planned strike action just hours before it was to begin, the labor minister said. Anxiety mounted on Sunday that Africa’s most populous country could shut down on Monday, after more unions pledged...

Nigerian court orders fresh trial of Blue Dolphin Limited over illegal oil bunkering

Justice Philomena Ekpe of the Court of Appeal, Calabar division, Cross Rivers State,   on Tuesday, May 19, 2020  set aside the decision of a Federal High Court sitting in Uyo, Akwa Ibom State, which acquitted Edward Odey Oluohu, Frank...

Femi Adesina: Averting the road to Venezuela

Let’s tell the story of Venezuela, because it bears striking similitude with that of Nigeria. Just like us, Venezuela is rich in oil, very rich. At a time, the county’s problem was not money, but how to spend it. Just...

Atiku Abubakar writes an opinion article on “how to pull Nigeria from the brink”

On Monday, April 27, 2020, British oil and gas giant, BP, became the latest in a growing number of energy firms to declare a massive quarterly loss. Their loss was in the region of $4.4 billion dollars. Bear in mind that...

Nigeria to cut down N10.59 trillion 2020 budget over fall in oil prices

The Nigerian Senate on Tuesday said a cut to the N10.594 trillion budget for 2020 passed by the National Assembly on December 5, 2019, was “inevitable” following the crash in crude oil prices. The resolution was reached sequel to the...

Climate change denier: “We must not jeopardize Africa’s future in the name of fighting climate change”

Pressure is building to phase out fossil fuels in Africa to fight climate change. Organizations ranging from the World Bank to the European Investment Bank (EIB) have dropped support for African fossil fuel production in hopes of encouraging a...

Central Energy Fund partners with Africa Energy Indaba, an oil and gas conference in Cape Town

The Central Energy Fund (CEF) has announced its partnership with the Africa Energy Indaba, an energy conference to be held in Cape Town, South Africa, from March 2 to March 4, 2020. The event has traditionally attracted high quality speakers...

IMF praises Equatorial Guinea’s oil and gas contract transparency, urges fiscal discipline and improved tax administration

The International Monetary Fund (IMF) on Friday welcomed Equatorial Guinea's decision to publish oil and gas contracts, which started this week as a way of bringing more transparency into an industry known for its opacity. The IMF also urged Equatorial...

Africa Energy Indaba 2020 reinstates marketplace matchmaking Program to connect energy stakeholders

The Africa Energy Indaba has established itself as Africa's leading and most promising energy event. Founded in 2009, the event has experienced a progressive evolution in presenting pivotal opportunities to participants to forge lasting corporate relationships, curate professional networks, explore new prospects and empower...

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Biden’s economic team praised as experienced and historic

U.S. President-elect's economic team has been praised as experience and historic. Biden on Monday announced key members of his...

Rights groups urge IMF to demand transparency for Egypt military’s firms before releasing more funding

The International Monetary Fund (IMF) should demand the Egyptian government disclose financial information about military-owned businesses as part of required reporting on state-owned enterprises,...

Biden to nominate Janet Yellen, Neera Tanden, Cecilia Rouse, Jared Bernstein, Heather Boushey and Adewale Adeyemo to economic team

U.S. President-elect Joseph R. Biden Jr. on Monday will nominate Neera Tanden, Cecilia Rouse, Jared Bernstein, Heather Boushey, and Nigerian-American Adewale Adeyemo alongside Janet...

IMF chief to G20 leaders: jointly build foundations for better 21st century global economy

International Monetary Fund (IMF) Managing Director Kristalina Georgieva on Sunday urged G20 leaders to jointly build the foundations for a better 21st century global amid...

Atiku: I received the news Nigeria has entered another recession with a “very heavy heart”

It is with a very heavy heart that I received the confirmation that for the second time in five years, Nigeria has entered into...
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