Category: Business

Big Oil Executives Push Back Against Calls For Fast Energy Transition

ADEOLA YUSUF

Top oil executives took to the stage of a major energy conference on Monday to vocally oppose calls for a quick move away from fossil fuels, saying society would pay a steep cost to replace oil and gas. Big oil companies including BP and Equinor have written down renewable energy projects and others have been forced to push back their greenhouse gas reduction targets due to greater uncertainties with the transition to clean fuels. That and unexpected strong demand for oil has stiffened the industry’s opposition to government and activist…

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Shell Publishes Reports On Sustainability and Payments To Governments

ADEOLA YUSUF

Shell has been formally reporting on sustainability-related performance for 27 years, with the aim of being transparent about activities that are important to investors, governments, and civil society. The Shell Sustainability Report outlines our social, safety and environmental performance in 2023. In his introduction to the report, Shell’s Chief Executive Officer, Wael Sawan, writes: READ ALSO FID On Nigeria Morocco Gas Pipeline To Be Taken In December 2024 – Kyari House Help Stabs Employer To Death How Land Dispute Led To Killing Of Soldiers In Delta – Community Leader “In…

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FID On Nigeria Morocco Gas Pipeline To Be Taken In December 2024 – Kyari

ADEOLA YUSUF

The Group Chief Executive Officer of the Nigerian National Petroleum Limited( NNPCL ) Mele Kyari has disclosed that the Final Investment Decision (FID) on the Nigeria -Morocco Gas Pipeline (NMGP) Project will be taken in December 2024. He made this revelation while speaking at a Leadership Dialogue Session at the ongoing CERAWeek Conference in Houston, United States, on Tuesday. The GCEO said there is an ongoing engagement on the Nigeria-Morocco Gas Pipeline Project (NMGP), which is at an advanced stage, to create a pipeline that will pass through thirteen African…

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Something Cooking? Shell Nigeria Country Chair Meets Ghana’s Energy Minister

ADEOLA YUSUF

Osagie Okunbor, Managing Director, The Shell Petroleum Development Company of Nigeria Limited (SPDC) and Country Chair, Shell Companies in Nigeria, received his award of participation from Matthew Opoku Prempeh, Ghana’s Minister of Energy, at the 7th Nigeria International Energy Summit in Abuja. Platforms Africa reports that the event gave the duo an opportunity to exchange pleasantries and words. READ ALSO JUST IN: Killers Of 16 Soldiers May Be Mercenaries, Says Akpabio Minister Opens Up As N40bn Metering Contract Polarises Power Industry Kyari, NNPCL Delegation Take Investors’ Hunt To Houston “When…

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Kyari, NNPCL Delegation Take Investors’ Hunt To Houston

ADEOLA YUSUF

▪️ Why we are optimistic high-profile talks with energy titans, business allies at CERAWeek will yield results – Kyari   At the commencement of the 2024 CERAWeek Conference in Houston, United States, Mr. Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Ltd. and other members of the Nigerian delegation engaged in strategic discussions with business partners and prominent figures in the energy industry. The 2024 edition of the conference is centered around the theme of “Multidimensional Energy Transition: Markets, Climate, Technology, and Geopolitics.” According to…

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Why Prices Of Locally Made Products Skyrocketed – CPPE

ADEOLA YUSUF

The Center For The Promotion Of Private Enterprises, CPPE, has high energy cost has made local production expensive and uncompetitive, especially in the cement industry. The Center, specifically noted that cement production is highly energy intensive with gas being the major energy source and unfortunately priced in dollars for manufacturers in the country who in turn sell their products in naira. Chief Executive Officer, CEO, of the CPPE, Dr. Muda Yusuf, while reacting to comments on the floor of the House of Representatives on cement price which portrayed cement manufacturers…

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Axxela Wins Leadership Prize, Promises More Investment In Energy Sector

ADEOLA YUSUF

Axxela Limited, a leading sub-Saharan African gas and power company, says the leadership award bestowed on the company is both an encouragement and motivation for it to persistently improve and do more. The company was recently awarded a gold medal in the 2024 EcoVadis Sustainability Rating. This rating, according to a statement,underscores Axxela’s steadfast commitment to sustainability, corporate social responsibility, and ethical business practices. Ranked in the top 5% among companies evaluated by EcoVadis over the past twelve months, Axxela achieved an impressive 97 percentile rank, showcasing its dedication to…

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Major Internet Blackout Rocks West Africa

ADEOLA YUSUF

You have been experiencing a glitch to browse key websites in Nigeria, Ghana, others? Here is the reason! Bayobab Group has said that connectivity disruptions currently faced in parts of West Africa, including Nigeria, were due to undersea cable damage, Platforms can report. The undersea cable affected the internet connectivity of major Mobile Network Operators in Nigeria and neigbouring West African countries. A statement by Bayobab Group acknowledged the ongoing disruptions affecting connectivity services in several West African countries, due to breaks in multiple major undersea cables. “Recognising the critical…

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Power Minister Demands Capital Punishment For Vandals

ADEOLA YUSUF

What DisCos must emulate in Ikeja Electric score card, Word-for-word of what Adelabu said during an official visit to IE   The minister of power, Adebayo Adelabu, has bemoaned the rising cases of vandalism of power assets across the country, demanding capital punishment for vandals. Platforms Africa reports that Adelabu, who said this in Lagos during an official visit to Ikeja Electric, labelled vandals of power assets as killers of people and saboteurs of businesses growth. READ ALSO: Revoke Licenses Of Non-Performing DisCos, Power Minister Orders NERC 4 Reasons Ogun,…

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Foreign Investor Eyes 7% Stake In LivingTrust Bank

ADEOLA YUSUF

A foreign investor is currently looking to acquire a 7% stake in LivingTrust Mortgage Bank Plc, according to reports. The move is described as a demonstration of the increasing profile of LivingTrust Mortgage Bank Plc, a leading mortgage bank. According to industry sources familiar with the development, the investor is set to file the regulatory paperwork for the deal following the conclusion of its due diligence. READ ALSO: EKEDC Goes Tough On Vandals, Jails Two Over-Speeding Driver Kills 2 Siblings In Ogun Ondo 2024: Akeredolu Did Not Endorse You, Spokesperson…

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