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.
The Energy Department announced the end of replenishing the nation’s strategic oil reserves on Friday, which were depleted by nearly half under President Biden, and used the opportunity to praise the administration for the work it has done to maintain and replenish the stockpile.
“Oil, gas, wind, sun, gold, silver, copper, all…are natural resources and countries should not be blamed for having them, and should not be blamed for bringing these resources to the market, because the market needs them.”