On the eve of the climate change summit in Copenhagen this December, momentum for action still falls far short of that needed to avert catastrophe. Africa will suffer consequences out of all proportion to its contribution to global warming, which is primarily caused by greenhouse gas emissions from wealthy countries.
So says the Nigerian National Petroleum Corporation and the Pipeline and Products Marketing Company, a subsidiary wholly owned by NNPC that is responsible for the marketing and distribution of petroleum products on behalf of the corporation.
Former Ghanaian President, John Kuffour, said yesterday that his country was learning fast from Nigeria's experience to ensure that oil did not become a curse to Ghana.
LAST week's announcement of an upward adjustment in fuel prices by the Energy Regulation Board (ERB) and the later withdrawal seems to have created confusion and uncertainty in the industry.
The current situation where there is "induced scarcity" inspite of the availability of enough fuel at filling stations, has justified the campaign for deregulation of the downstream oil sector, the Federal Govern-ment has said.
Movement for the Emancipation of the Niger Delta (MEND), is threatening to call off ceasefire with the government if foreign oil companies do not leave the area.
The two diesel fired back-up power stations that can provide Maputo with electricity in the event of interruption to the normal power supply are being converted to run on natural gas, according to a report in Monday's issue of the Maputo daily "Noticias".
There are regrettable flaws in recent government moves to deregulate the downstream oil sector. The cost to the nation is equally regrettable. When on October 10, Mr. Aminu Babakusa, the Group Executive Director, Commercial and Investment of Nigerian National Petroleum Corporation (NNPC), announced November 1, 2009 as the date for commencement of the full deregulation of the sector, he could only ...
Since the advent of oil boom in Nigeria, governments have been lax in collecting taxes from citizens, corporate bodies and organisations to fund their programmes.
Top government officials in charge of the oil industry refused yesterday to say when the full deregulation policy of the downstream oil sector will take place, saying they were still in consultations to try to build a national consensus around the policy.
Mozambican port managers have denied claims by Malawi that the current shortage of fuel in that country is due to congestion in the Mozambican ports of Nacala and Beira.
Fresh revelations emerged last week on how the Pipelines and Products Marketing Company (PPMC), a subsidiary of the Nigerian National petroleum Corporation (NNPC), through some of its engineers and technicians saved the country the trouble of going through what it described as the 'mother of all fuel scarcity' in the country.
Oil prices fell by more than 2 per cent on Friday after larger-than-expected October U.S. unemployment numbers emerged to shake financial markets. Reuters reported that U.S. crude for December delivery was down $1.86 to $77.86 a barrel by 1420 GMT, retracing early gains as high as $80.34 in the trading session. London Brent crude fell $1.70 to $76.29. According to Reuters, government figures ...
The Federal Capital Territory, FCT Abuja seems to be the worst hit as gradual fuel scarcity takes its toll on residents. Since the Federal Government announced its decision to deregulate the downstream petroleum sector, life of residents and those around its environ have not been the same.
Oando Plc, Nigeria's integrated energy solutions provider has announced in Lagos the signing of a memorandum of understanding (MOU), with Russia's energy giant, Gazprom to jointly develop projects in multiple sectors of Nigeria's oil and gas industry.
