Under the Biden administration’s new rule, certain oil and gas facilities would be charged $900 per metric ton of “wasteful” emissions in CY 2024, $1,200 for CY 2025 and $1,500 for CY 2026.
House Speaker Mike Johnson and other Republican lawmakers have said they will press to expand oil and gas leases on federal lands. Johnson would also like to allow more drilling in Alaska’s National Petroleum Reserve, after the Biden administration enacted regulations to thwart drilling in more than half the area.
NNPCL officials have hailed the agreement as unprecedented, particularly due to its zero capital expenditure outlay, making it a pioneering initiative in Nigeria’s gas distribution sector.
At a press conference held at the Kempinski Hotel today in Accra, the Minister of Trade and Industry, Herbert Krapa, further underscored the commitment to this initiative, announcing that Ghana aims to host a summit that will bring together African ministers, national oil companies, and regulatory bodies.
Nigeria has faced challenges in adhering to its OPEC+ quota due to production disruptions caused by underinvestment, theft and vandalism, especially in the Niger Delta region.
Alhaji Bamanga Usman Jada praised the partnership, stating, “We welcome Ultra Capital Energy Limited’s commitment to Nigeria’s oil and gas sector. This collaboration will significantly contribute to the growth and development of the Liberty Oil and Gas Free Zone.”
The Organisation of Petroleum Exporting Countries (OPEC) yesterday lowered the demand forecast for crude oil amid tumbling prices as Nigeria pumped 1.4 million barrels of oil per day in October.
Speaking at the annual U.N. climate summit in Baku, Azerbaijan, known as COP29, Woods described international climate negotiations as valuable opportunities for Trump to adopt pragmatic policies.
Greenpeace and Uplift have jointly raised a judicial review at the Court of Session, arguing consent for the Rosebank oil field northwest of Shetland ought to be paused and reassessed.
The surge of US oil and gas output under the Biden administration is an enabler of the energy transition, not a black mark on the country’s climate progress, a top White House adviser said Wednesday.