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NNPC: Nigeria earns $2.5bn from oil, gas export

Nigeria’s total crude oil and gas export receipt from March 2016 to March 2017 stood at $2.50 billion, according to the Nigerian National Petroleum Corporation (NNPC). NNPC, which made this disclosure in its latest financial report released at the weekend, said the sum of $2.29 billion was transferred to Joint Venture (JV) Cash Call in line with the 2016 Approved Budget and pending 2017 budget approval. It noted that its share of the JV cash call (JVCC) based on equity…

Malawi to explore Nigeria’s oil, gas transparency initiative

A high-ranking delegation from Malawi is expected to arrive in Abuja this week on a study of Nigeria’s implementation of the global Extractive Industries Transparency Initiative (EITI). While in Nigeria, the Malawian delegation will undertake a one week study of Nigeria’s implementation by NEITI, of the principles of the global Extractive Industries Transparency Initiative. The study will examine how NEITI interventions through its reports and advocacy, support the ongoing reforms in the country’s oil, gas and mining sectors and how…

BP Energy Outlook offers a mixed outlook for Africa

The latest edition of the BP Energy Outlook outlines the role of Africa in driving energy demand, including oil, gas and renewables Access to energy remains a major challenge for Africa. More than a billion people worldwide do not have access to electricity, mainly in Africa, India, and developing countries in Asia, according to the report. Looking ahead to 2035, the 2017 edition of BP’s annual barometer of world energy markets forecasts GDP to double over the next 18 years.…