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  •   After 21 successful editions the industry shaping NOG Conference amp Exhibition will be repositioned as the NOG Energy Week Conference amp Exhibition to strengthen Nigeria s key role in the global energy agenda dmg announced Nigeria events www dmgEvents com The repositioning follows the most recent edition which concluded on July 7 and underscored the conference s reputation as a critical facilitator of dialogue on energy agendas at the local level particularly as diesel and gasoline prices continue to rise in Nigeria Operating expenses are also rising despite the continued unreliability of national grid power with companies passing the higher costs on to consumers The repositioning to NOG Energy Week will foster a stronger and more integrated conversation about Nigeria s key role in the broader global energy agenda said Odiri Umusu director of sales for dmg Nigeria events With the effects of geopolitics energy supply disruption and increased demand pushing against ambitious net zero agendas we must recognize and engage with the entire existing and emerging Nigerian energy ecosystem By expanding our reach across oil gas liquefied natural gas LNG renewables and power we have the opportunity to bring together energy industry decision makers as well as financiers and investors for conversations that will propel us towards sustainability and justice energy solutions The 21st NOG Conference amp Exhibition focused on financing Nigeria s energy mix for sustainable economic growth The event began with the presentation of the Seven Ministerial Regulations by Ing Simbi Wabote Executive Secretary of the Nigerian Content Development and Monitoring Board NCDMB The regulations aim to boost local content and boost investment in the sector including opportunities for indigenous businesses The 2022 Energy Progress Report published by the International Energy Agency IEA together with the United Nations Statistics Division the International Renewable Energy Agency IRENA the World Bank and the World Health Organization WHO estimates that nearly 92 million Nigerians lack access to electricity from the national grid In addition to its crude oil reserves Nigeria has abundant options for energy sources in the form of natural gas solar hydro wind biomass and geothermal To further explore the opportunities for Nigeria and its role in the global energy landscape NOG s new Energy Week will bring together policy makers financiers investors and business leaders to discuss strategies practical solutions and the resources needed to address supply challenges while moving towards net zero ambitions As Nigeria navigates its path of energy evolution underpinned by The Gas Decade and seeks a fairer more affordable and sustainable energy system it is critical that NOG also adapt not only its narrative but what it stands for Petroleum Resources Minister Timipre Sylva who attended the recent NOG in Abuja stated The President will continue to strengthen the gas value chain as it is vital to transforming the economy of our great nation This initiative will create more than 2 million jobs per year promote skill acquisition and enhance technology transfer as well as increase the nation s gross domestic product As most Nigerians lack access to energy NOG was a great opportunity for local and foreign investors to enter the sector said Mele Kolo Kyari Group Managing Director NNPC Our investments in the Nigerian gas market are based on the belief that the market will grow given domestic need NOG Energy Week will take place from July 2 6 2023 and expects to welcome more than 5 000 attendees 600 delegates more than 350 exhibiting companies and 85 expert industry speakers in 35 sessions spanning two conference streams NOG 2022 Sponsors included NNPC ExxonMobil IPPCG Nigeria LNG Limited Shell Chevron Total Energies Oando IPPG NUPRC NCDMB Prime Atlantic DCPL Coleman Wires and Cables UTM Offshore Limited First E amp P Montego ND Westers Samsung Montego Nivafer Russell Smith Vurin Group MG Vowgas WAV MicCom Niger Delta E amp P Eleval Group Heritage Energy Seplat Energy Banwo amp Ighodalo and DENL
    NOG conference and exhibition switches to NOG energy week to drive further dialogue on Nigeria’s role in the global energy agenda
      After 21 successful editions the industry shaping NOG Conference amp Exhibition will be repositioned as the NOG Energy Week Conference amp Exhibition to strengthen Nigeria s key role in the global energy agenda dmg announced Nigeria events www dmgEvents com The repositioning follows the most recent edition which concluded on July 7 and underscored the conference s reputation as a critical facilitator of dialogue on energy agendas at the local level particularly as diesel and gasoline prices continue to rise in Nigeria Operating expenses are also rising despite the continued unreliability of national grid power with companies passing the higher costs on to consumers The repositioning to NOG Energy Week will foster a stronger and more integrated conversation about Nigeria s key role in the broader global energy agenda said Odiri Umusu director of sales for dmg Nigeria events With the effects of geopolitics energy supply disruption and increased demand pushing against ambitious net zero agendas we must recognize and engage with the entire existing and emerging Nigerian energy ecosystem By expanding our reach across oil gas liquefied natural gas LNG renewables and power we have the opportunity to bring together energy industry decision makers as well as financiers and investors for conversations that will propel us towards sustainability and justice energy solutions The 21st NOG Conference amp Exhibition focused on financing Nigeria s energy mix for sustainable economic growth The event began with the presentation of the Seven Ministerial Regulations by Ing Simbi Wabote Executive Secretary of the Nigerian Content Development and Monitoring Board NCDMB The regulations aim to boost local content and boost investment in the sector including opportunities for indigenous businesses The 2022 Energy Progress Report published by the International Energy Agency IEA together with the United Nations Statistics Division the International Renewable Energy Agency IRENA the World Bank and the World Health Organization WHO estimates that nearly 92 million Nigerians lack access to electricity from the national grid In addition to its crude oil reserves Nigeria has abundant options for energy sources in the form of natural gas solar hydro wind biomass and geothermal To further explore the opportunities for Nigeria and its role in the global energy landscape NOG s new Energy Week will bring together policy makers financiers investors and business leaders to discuss strategies practical solutions and the resources needed to address supply challenges while moving towards net zero ambitions As Nigeria navigates its path of energy evolution underpinned by The Gas Decade and seeks a fairer more affordable and sustainable energy system it is critical that NOG also adapt not only its narrative but what it stands for Petroleum Resources Minister Timipre Sylva who attended the recent NOG in Abuja stated The President will continue to strengthen the gas value chain as it is vital to transforming the economy of our great nation This initiative will create more than 2 million jobs per year promote skill acquisition and enhance technology transfer as well as increase the nation s gross domestic product As most Nigerians lack access to energy NOG was a great opportunity for local and foreign investors to enter the sector said Mele Kolo Kyari Group Managing Director NNPC Our investments in the Nigerian gas market are based on the belief that the market will grow given domestic need NOG Energy Week will take place from July 2 6 2023 and expects to welcome more than 5 000 attendees 600 delegates more than 350 exhibiting companies and 85 expert industry speakers in 35 sessions spanning two conference streams NOG 2022 Sponsors included NNPC ExxonMobil IPPCG Nigeria LNG Limited Shell Chevron Total Energies Oando IPPG NUPRC NCDMB Prime Atlantic DCPL Coleman Wires and Cables UTM Offshore Limited First E amp P Montego ND Westers Samsung Montego Nivafer Russell Smith Vurin Group MG Vowgas WAV MicCom Niger Delta E amp P Eleval Group Heritage Energy Seplat Energy Banwo amp Ighodalo and DENL
    NOG conference and exhibition switches to NOG energy week to drive further dialogue on Nigeria’s role in the global energy agenda
    Africa2 months ago

    NOG conference and exhibition switches to NOG energy week to drive further dialogue on Nigeria’s role in the global energy agenda

    After 21 successful editions, the industry-shaping NOG Conference & Exhibition will be repositioned as the NOG Energy Week Conference & Exhibition to strengthen Nigeria's key role in the global energy agenda, dmg announced. Nigeria events (www.dmgEvents.com).

    The repositioning follows the most recent edition, which concluded on July 7, and underscored the conference's reputation as a critical facilitator of dialogue on energy agendas at the local level, particularly as diesel and gasoline prices continue to rise in Nigeria. Operating expenses are also rising despite the continued unreliability of national grid power, with companies passing the higher costs on to consumers.

    “The repositioning to NOG Energy Week will foster a stronger and more integrated conversation about Nigeria's key role in the broader global energy agenda,” said Odiri Umusu, director of sales for dmg Nigeria events. “With the effects of geopolitics, energy supply disruption and increased demand pushing against ambitious net zero agendas, we must recognize and engage with the entire existing and emerging Nigerian energy ecosystem. By expanding our reach across oil, gas, liquefied natural gas (LNG), renewables and power, we have the opportunity to bring together energy industry decision makers, as well as financiers and investors for conversations that will propel us towards sustainability and justice. energy solutions.”

    The 21st NOG Conference & Exhibition focused on financing Nigeria's energy mix for sustainable economic growth. The event began with the presentation of the Seven Ministerial Regulations by Ing. Simbi Wabote, Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB). The regulations aim to boost local content and boost investment in the sector, including opportunities for indigenous businesses.

    The 2022 Energy Progress Report, published by the International Energy Agency (IEA), together with the United Nations Statistics Division, the International Renewable Energy Agency (IRENA), the World Bank and the World Health Organization ( WHO), estimates that nearly 92 million Nigerians lack access to electricity from the national grid.

    In addition to its crude oil reserves, Nigeria has abundant options for energy sources in the form of natural gas, solar, hydro, wind, biomass, and geothermal. To further explore the opportunities for Nigeria and its role in the global energy landscape, NOG's new Energy Week will bring together policy makers, financiers, investors and business leaders to discuss strategies, practical solutions and the resources needed to address supply challenges while moving towards net zero ambitions.

    As Nigeria navigates its path of energy evolution, underpinned by 'The Gas Decade', and seeks a fairer, more affordable and sustainable energy system, it is critical that NOG also adapt not only its narrative but what it stands for.

    Petroleum Resources Minister Timipre Sylva, who attended the recent NOG in Abuja, stated: “The President will continue to strengthen the gas value chain as it is vital to transforming the economy of our great nation. This initiative will create more than 2 million jobs per year, promote skill acquisition and enhance technology transfer, as well as increase the nation's gross domestic product."

    "As most Nigerians lack access to energy, NOG was a great opportunity for local and foreign investors to enter the sector," said Mele Kolo Kyari, Group Managing Director - NNPC. "Our investments in the Nigerian gas market are based on the belief that the market will grow given domestic need."

    NOG Energy Week will take place from July 2-6, 2023 and expects to welcome more than 5,000 attendees, 600 delegates, more than 350 exhibiting companies and 85 expert industry speakers in 35 sessions spanning two conference streams.

    NOG 2022 Sponsors included NNPC, ExxonMobil, IPPCG, Nigeria LNG Limited, Shell, Chevron, Total Energies, Oando, IPPG, NUPRC, NCDMB, Prime Atlantic, DCPL Coleman Wires and Cables, UTM Offshore Limited, First E& P , Montego, ND Westers, Samsung, Montego, Nivafer, Russell Smith, Vurin Group, MG Vowgas, WAV, MicCom, Niger Delta E&P, Eleval Group, Heritage Energy, Seplat Energy, Banwo & Ighodalo, and DENL.

  •  Organisers of the 2022 Nigeria Oil amp Gas NOG Conference and Exhibition have called off the conference s night A statement by the organisers DMG Events said the development was in honour of the late Secretary General of the Organisation of the Petroleum Exporting Countries OPEC Dr Mohammad Barkindo The News Agency of Nigeria reports that Barkindo died in Abuja on Tuesday night NNPC a Principal Sponsor of the event since year 2000 had requested that all outstanding activities of the conference be cancelled following the death of the late international energy icon Barkindo died at the age of 63 after attending the opening of the NOG Conference where he delivered a keynote address at the event He was the Group General Manager of the NNPC after which he became the OPEC boss Barkindo was buried in his hometown Yola Adamawa State according to Islamic rites on Wednesday NewsSourceCredit NAN
    Barkindo’s death: NOG organisers call off 2022 dinner/award night
     Organisers of the 2022 Nigeria Oil amp Gas NOG Conference and Exhibition have called off the conference s night A statement by the organisers DMG Events said the development was in honour of the late Secretary General of the Organisation of the Petroleum Exporting Countries OPEC Dr Mohammad Barkindo The News Agency of Nigeria reports that Barkindo died in Abuja on Tuesday night NNPC a Principal Sponsor of the event since year 2000 had requested that all outstanding activities of the conference be cancelled following the death of the late international energy icon Barkindo died at the age of 63 after attending the opening of the NOG Conference where he delivered a keynote address at the event He was the Group General Manager of the NNPC after which he became the OPEC boss Barkindo was buried in his hometown Yola Adamawa State according to Islamic rites on Wednesday NewsSourceCredit NAN
    Barkindo’s death: NOG organisers call off 2022 dinner/award night
    Oil & Gas3 months ago

    Barkindo’s death: NOG organisers call off 2022 dinner/award night

    Organisers of the 2022 Nigeria Oil & Gas (NOG) Conference and Exhibition have called off the conference’s night.A statement by the organisers, DMG Events, said the development was in honour of the late Secretary-General of the Organisation of the Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo.The News Agency of Nigeria reports that Barkindo died in Abuja on Tuesday night.NNPC, a Principal Sponsor of the event since year 2000 had requested that all outstanding activities of the conference be cancelled following the death of the late international energy icon.Barkindo died at the age of 63 after attending the opening of the NOG Conference where he delivered a keynote address at the event.He was the Group General Manager of the NNPC after which he became the OPEC boss.Barkindo was buried in his hometown Yola, Adamawa State, according to Islamic rites on Wednesday.NewsSourceCredit: NAN

  •  Dr Mohammed Barkindo the Secretary General Organisation of the Petroleum Exporting Countries OPEC is dead Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company NNPC confirmed the development in a statement posted on his official Twitter page on Wednesday We lost our esteemed Dr Mohammed S Barkindo He died at about 11 00 p m on Tuesday Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said The News Agency of Nigeria reports that Barkindo who is the outgoing OPEC secretary general was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference NOG in Abuja on Tuesday At his last official outing at the NOG Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a worthy ambassador to Nigeria Born on April 20 1959 in Yola Adamawa Barkindo served as the Secretary General of OPEC since Aug 1 2016 and would have bowed out on July 31 2022 following the completion of his tenure He completed his Bachelor s Degree in Political Science from Ahmadu Bello University Zaria in 1981 and Masters of Business Administration degree from Washington University in 1991 Prior to MBA in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University Also he was awarded an honorary doctorate from the Federal University of Technology Yola Barkindo previously served as the acting Secretary General in 2006 and represented Nigeria on OPEC s Economic Commission Board from 1993 to 2008 He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria s technical delegation to UN climate negotiations since 1991 Barkindo will be replaced by Mr Haitham Al Ghais a veteran of the Kuwait Petroleum Corporation KPC as the organisation s Secretary General following his demise In a tribute to Barkindo on his contributions to the global energy industry OPEC said he was instrumental in expanding the organisation s historical efforts to support sustainable oil market stability This was through enhanced dialogue and cooperation with many energy stakeholders including the landmark Declaration of Cooperation DoC since its inception in December 2016 These efforts are widely cr NewsSourceCredit NAN
    OPEC Secretary-General, Barkindo dies at 63
     Dr Mohammed Barkindo the Secretary General Organisation of the Petroleum Exporting Countries OPEC is dead Mr Mele Kyari the Group Managing Director Nigerian National Petroleum Company NNPC confirmed the development in a statement posted on his official Twitter page on Wednesday We lost our esteemed Dr Mohammed S Barkindo He died at about 11 00 p m on Tuesday Certainly a great loss to his immediate family the NNPC our country Nigeria the OPEC and the global energy community Burial arrangements will be announced shortly Kyari said The News Agency of Nigeria reports that Barkindo who is the outgoing OPEC secretary general was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference NOG in Abuja on Tuesday At his last official outing at the NOG Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a worthy ambassador to Nigeria Born on April 20 1959 in Yola Adamawa Barkindo served as the Secretary General of OPEC since Aug 1 2016 and would have bowed out on July 31 2022 following the completion of his tenure He completed his Bachelor s Degree in Political Science from Ahmadu Bello University Zaria in 1981 and Masters of Business Administration degree from Washington University in 1991 Prior to MBA in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University Also he was awarded an honorary doctorate from the Federal University of Technology Yola Barkindo previously served as the acting Secretary General in 2006 and represented Nigeria on OPEC s Economic Commission Board from 1993 to 2008 He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria s technical delegation to UN climate negotiations since 1991 Barkindo will be replaced by Mr Haitham Al Ghais a veteran of the Kuwait Petroleum Corporation KPC as the organisation s Secretary General following his demise In a tribute to Barkindo on his contributions to the global energy industry OPEC said he was instrumental in expanding the organisation s historical efforts to support sustainable oil market stability This was through enhanced dialogue and cooperation with many energy stakeholders including the landmark Declaration of Cooperation DoC since its inception in December 2016 These efforts are widely cr NewsSourceCredit NAN
    OPEC Secretary-General, Barkindo dies at 63
    General news3 months ago

    OPEC Secretary-General, Barkindo dies at 63

    Dr Mohammed Barkindo, the Secretary-General, Organisation of the Petroleum Exporting Countries (OPEC), is dead.

    Mr Mele Kyari, the Group Managing Director, Nigerian National Petroleum Company (NNPC), confirmed the development in a statement posted on his official Twitter page on Wednesday.

    “We lost our esteemed Dr Mohammed S Barkindo. He died at about 11.00 p.m. on Tuesday.

    “Certainly a great loss to his immediate family, the NNPC, our country Nigeria, the OPEC and the global energy community.

    “Burial arrangements will be announced shortly,” Kyari said.

    The News Agency of Nigeria reports that Barkindo, who is the outgoing OPEC secretary general, was in Nigeria where he delivered the Chairman keynote address at the ongoing Nigerian Oil and Gas Conference (NOG) in Abuja on Tuesday.

    At his last official outing at the NOG, Barkindo was given a standing ovation by industry stakeholders for his outstanding contributions to the Nigerian and global oil and gas industry.

    He had earlier in the day visited President Muhammadu Buhari in the Presidential Villa where he was hailed by the president for being a “worthy ambassador to Nigeria.”

    Born on April 20,1959 in Yola, Adamawa, Barkindo served as the Secretary General of OPEC since Aug. 1, 2016 and would have bowed out on July 31, 2022 following the completion of his tenure.

    He completed his Bachelor’s Degree in Political Science from Ahmadu Bello University Zaria, in 1981 and Masters of Business Administration degree from Washington University in 1991.

    Prior to MBA, in 1988 he earned a PostGraduate Diploma in Petroleum Economics from Oxford University.

    Also, he was awarded an honorary doctorate from the Federal University of Technology Yola.

    Barkindo previously served as the acting Secretary-General in 2006 and represented Nigeria on OPEC’s Economic Commission Board from 1993 to 2008.

    He also led the Nigerian National Petroleum Corporation during 2009 to 2010 and headed Nigeria’s technical delegation to UN climate negotiations since 1991.

    Barkindo will be replaced by Mr Haitham Al-Ghais, a veteran of the Kuwait Petroleum Corporation (KPC), as the organisation’s Secretary-General following his demise.

    In a tribute to Barkindo on his contributions to the global energy industry, OPEC said he was instrumental in expanding the organisation’s historical efforts to support sustainable oil market stability.

    “This was through enhanced dialogue and cooperation with many energy stakeholders, including the landmark Declaration of Cooperation (DoC) since its inception in December 2016.

    “These efforts are widely cr

    NewsSourceCredit: NAN

  •  The Organisation of the Petroleum Exporting Countries OPEC has tasked the Federal Government to develop new technologies strengthen human capacity and innovation to meet the world s growing need for energy OPEC said regular investment was needed in view of global oil sector requirement of cumulative investments of 11 8 trillion U S dollars in the upstream midstream and downstream through to 2045 to meet energy expectations Dr Mohammad Barkindo OPEC Secretary General made this known in his keynote address at the official opening of the ongoing 21st NOG Conference and Exhibition on Tuesday in Abuja The conference has its theme as Funding the Nigerian Energy Mix for Sustainable Economic Growth Barkindo said that new technologies and regular investments would shrink Nigeria s overall environmental footprint and expand access to underserved communities I am confident that the implementation of the Petroleum Industry Act will help unlock the full potential of our petroleum industry strengthen its ability to attract long term investment as well as support a dynamic and diverse economy If our National Oil Companies NOCs are to continue to innovate and flourish it is of utmost importance that they have predictable and unfettered access to investment capital Regular Investment at adequate levels is the lifeblood of our industry It is essential if we are to develop new technologies strengthen our human capacity and remain leaders in innovation he said The OPEC secretary general said the industry was facing huge challenges along multiple fronts and these are currently threatening investment potential and in the longer term To put it bluntly the oil and gas industry is under siege For starters the evolving geopolitical developments in Eastern Europe the ongoing war in Ukraine the ongoing COVID 19 pandemic and inflationary pressures globally have come together causing significant volatility and uncertainty in the commodity and energy markets Against this backdrop a number of industrialised countries and multilateral institutions continue to pursue stringent policies aimed at accelerating the energy transition and fundamentally altering the energy mix Barkindo said He said in a very short timespan the industry had been hit by two major cycles the severe market downturn in 2015 and 2016 and the even more far reaching impact of the COVID 19 pandemic He described 2020 the first year of the pandemic as one of the darkest periods in the history of oil upstream oil capital expenditure which fell by around 30 per cent This he said exceeded the colossal 26 per cent annual declines experienced during the severe industry downturn in 2015 and 2016 He said the OPEC also projected that total primary energy demand would expand by a robust 28 per cent in the period to 2045 According to him oil is expected to retain the largest share of the energy mix accounting for just over a 28 per cent share in 2045 followed by gas at around 24 per cent In other words he said oil and gas together would continue to supply more than half of the world s energy needs for many decades These hydrocarbons are especially vital to the energy mix in regions like Africa which will see massive population shifts and economic growth in the coming years These developments increase the urgency of eradicating energy poverty The impacts of the two major market cycles are manifesting themselves in real time he said NewsSourceCredit NAN
    OPEC tasks FG on technologies, says global oil sector requires .8trn investments
     The Organisation of the Petroleum Exporting Countries OPEC has tasked the Federal Government to develop new technologies strengthen human capacity and innovation to meet the world s growing need for energy OPEC said regular investment was needed in view of global oil sector requirement of cumulative investments of 11 8 trillion U S dollars in the upstream midstream and downstream through to 2045 to meet energy expectations Dr Mohammad Barkindo OPEC Secretary General made this known in his keynote address at the official opening of the ongoing 21st NOG Conference and Exhibition on Tuesday in Abuja The conference has its theme as Funding the Nigerian Energy Mix for Sustainable Economic Growth Barkindo said that new technologies and regular investments would shrink Nigeria s overall environmental footprint and expand access to underserved communities I am confident that the implementation of the Petroleum Industry Act will help unlock the full potential of our petroleum industry strengthen its ability to attract long term investment as well as support a dynamic and diverse economy If our National Oil Companies NOCs are to continue to innovate and flourish it is of utmost importance that they have predictable and unfettered access to investment capital Regular Investment at adequate levels is the lifeblood of our industry It is essential if we are to develop new technologies strengthen our human capacity and remain leaders in innovation he said The OPEC secretary general said the industry was facing huge challenges along multiple fronts and these are currently threatening investment potential and in the longer term To put it bluntly the oil and gas industry is under siege For starters the evolving geopolitical developments in Eastern Europe the ongoing war in Ukraine the ongoing COVID 19 pandemic and inflationary pressures globally have come together causing significant volatility and uncertainty in the commodity and energy markets Against this backdrop a number of industrialised countries and multilateral institutions continue to pursue stringent policies aimed at accelerating the energy transition and fundamentally altering the energy mix Barkindo said He said in a very short timespan the industry had been hit by two major cycles the severe market downturn in 2015 and 2016 and the even more far reaching impact of the COVID 19 pandemic He described 2020 the first year of the pandemic as one of the darkest periods in the history of oil upstream oil capital expenditure which fell by around 30 per cent This he said exceeded the colossal 26 per cent annual declines experienced during the severe industry downturn in 2015 and 2016 He said the OPEC also projected that total primary energy demand would expand by a robust 28 per cent in the period to 2045 According to him oil is expected to retain the largest share of the energy mix accounting for just over a 28 per cent share in 2045 followed by gas at around 24 per cent In other words he said oil and gas together would continue to supply more than half of the world s energy needs for many decades These hydrocarbons are especially vital to the energy mix in regions like Africa which will see massive population shifts and economic growth in the coming years These developments increase the urgency of eradicating energy poverty The impacts of the two major market cycles are manifesting themselves in real time he said NewsSourceCredit NAN
    OPEC tasks FG on technologies, says global oil sector requires .8trn investments
    General news3 months ago

    OPEC tasks FG on technologies, says global oil sector requires $11.8trn investments

    The Organisation of the Petroleum Exporting Countries (OPEC) has tasked the Federal Government to develop new technologies, strengthen human capacity and innovation to meet the world’s growing need for energy.OPEC said regular investment was needed in view of global oil sector requirement of cumulative investments of 11.8 trillion U.S. dollars in the upstream, midstream and downstream through to 2045 to meet energy expectations.Dr Mohammad Barkindo, OPEC Secretary-General, made this known in his keynote address at the official opening of the ongoing 21st NOG Conference and Exhibition on Tuesday in Abuja.The conference has its theme as: “Funding the Nigerian Energy Mix for Sustainable Economic Growth.”Barkindo said that new technologies and regular investments would shrink Nigeria’s overall environmental footprint and expand access to underserved communities.“I am confident that the implementation of the Petroleum Industry Act will help unlock the full potential of our petroleum industry, strengthen its ability to attract long-term investment, as well as support a dynamic and diverse economy.“If our National Oil Companies (NOCs) are to continue to innovate and flourish, it is of utmost importance that they have predictable and unfettered access to investment capital.“Regular Investment at adequate levels is the lifeblood of our industry. It is essential if we are to develop new technologies, strengthen our human capacity and remain leaders in innovation,” he said.The OPEC secretary-general said the industry was facing huge challenges along multiple fronts and these are currently threatening  investment potential and in the longer term.“To put it bluntly, the oil and gas industry is under siege!“For starters, the evolving geopolitical developments in Eastern Europe, the ongoing war in Ukraine, the ongoing COVID-19 pandemic and inflationary pressures globally have come together, causing significant volatility and uncertainty in the commodity and energy markets.“Against this backdrop, a number of industrialised countries and multilateral institutions continue to pursue stringent policies aimed at accelerating the energy transition and fundamentally altering the energy mix,” Barkindo said.He said in a very short timespan, the industry had been hit by two major cycles – the severe market downturn in 2015 and 2016, and the even more far-reaching impact of the COVID-19 pandemic.He described 2020, the first year of the pandemic as one of the darkest periods in the history of oil, upstream oil capital expenditure which fell by around 30 per cent.This, he said exceeded the colossal 26 per cent annual declines experienced during the severe industry downturn in 2015 and 2016.He said the OPEC also projected that total primary energy demand would expand by a robust 28 per cent in the period to 2045.According to him, oil is expected to retain the largest share of the energy mix, accounting for just over a 28 per cent share in 2045, followed by gas at around 24 per cent.In other words, he said oil and gas together would continue to supply more than half of the world’s energy needs for many decades.“These hydrocarbons are especially vital to the energy mix in regions like Africa, which will see massive population shifts and economic growth in the coming years.“These developments increase the urgency of eradicating energy poverty.The impacts of the two major market cycles are manifesting themselves in real time,” he said.

    NewsSourceCredit: NAN

  •  Mr Simbi Wabote Executive Secretary of Nigerian Content Development and Monitoring Board NCDMB on Sunday urged oil workers to embrace the game of golf to stay fit and healthy Wabote who spoke to newsmen on the sidelines of the ongoing 2nd Nigerian Oil and Gas NOG Invitational sponsored by the NCDMB observed that the oil workers needed to embrace the game of golf Oil workers put in a lot and work very hard and therefore need to play golf to stay fit and healthy Although many oil workers play golf there is need for more of them to take up golf even though it is the most popular game amongst them In an effort to encourage the game the NCDMB is sponsoring this tournament to tune up people for the 21st NOG Conference which kicks off on Monday which is the Nigerian Content Day Wabote said The News Agency of Nigeria reports that Kim Young Chaet Ambassador of South Korea and Wabote were among dignitaries that played at the golf championship at the IBB International Golf course in Abuja At the end of the tournament Mr Okey Igwe emerged winner of the 2022 NCDMB NOG Golf Tournament while Mr Loll Manilo picked the trophy for runners up For the lady s category Mrs Lamin Ahmen the Lady Captain of the IBB Golf club won the overall best trophy while Mrs Ann Abinuku got the runners up category On the standard of play at the championship Young Chaet said that he was impressed by the quality of players and the organisational dexterity exhibited by the IBB International Gulf Club He noted that the game played a significant role in building bond of friendship amongst the people and players in the oil industry The game of golf is good in unifying the people there are a lot of companies from South Korea operating in the oil and gas industry and many of them are good at the game of golf I have been here for about six months and playing golf here at IBB course It has shown that the standard is high I played through in all the 18 holes and it is very great experience the envoy said NewsSourceCredit NAN
    NCDMB boss urges oil workers to play golf for physical fitness
     Mr Simbi Wabote Executive Secretary of Nigerian Content Development and Monitoring Board NCDMB on Sunday urged oil workers to embrace the game of golf to stay fit and healthy Wabote who spoke to newsmen on the sidelines of the ongoing 2nd Nigerian Oil and Gas NOG Invitational sponsored by the NCDMB observed that the oil workers needed to embrace the game of golf Oil workers put in a lot and work very hard and therefore need to play golf to stay fit and healthy Although many oil workers play golf there is need for more of them to take up golf even though it is the most popular game amongst them In an effort to encourage the game the NCDMB is sponsoring this tournament to tune up people for the 21st NOG Conference which kicks off on Monday which is the Nigerian Content Day Wabote said The News Agency of Nigeria reports that Kim Young Chaet Ambassador of South Korea and Wabote were among dignitaries that played at the golf championship at the IBB International Golf course in Abuja At the end of the tournament Mr Okey Igwe emerged winner of the 2022 NCDMB NOG Golf Tournament while Mr Loll Manilo picked the trophy for runners up For the lady s category Mrs Lamin Ahmen the Lady Captain of the IBB Golf club won the overall best trophy while Mrs Ann Abinuku got the runners up category On the standard of play at the championship Young Chaet said that he was impressed by the quality of players and the organisational dexterity exhibited by the IBB International Gulf Club He noted that the game played a significant role in building bond of friendship amongst the people and players in the oil industry The game of golf is good in unifying the people there are a lot of companies from South Korea operating in the oil and gas industry and many of them are good at the game of golf I have been here for about six months and playing golf here at IBB course It has shown that the standard is high I played through in all the 18 holes and it is very great experience the envoy said NewsSourceCredit NAN
    NCDMB boss urges oil workers to play golf for physical fitness
    General news3 months ago

    NCDMB boss urges oil workers to play golf for physical fitness

    Mr Simbi Wabote, Executive Secretary of Nigerian Content Development and Monitoring Board (NCDMB), on Sunday urged oil workers to embrace the game of golf to stay fit and healthy.

    Wabote, who spoke to newsmen on the sidelines of the ongoing 2nd Nigerian Oil and Gas (NOG) Invitational sponsored by the NCDMB, observed that the oil workers needed to embrace the game of golf.

    “Oil workers put in a lot and work very hard and therefore, need to play golf to stay fit and healthy.

    Although many oil workers play golf, there is need for more of them to take up golf even though it is the most popular game amongst them.

    “In an effort to encourage the game, the NCDMB is sponsoring this tournament to tune up people for the 21st NOG Conference which kicks off on Monday which is the Nigerian Content Day,” Wabote said.

    The News Agency of Nigeria reports that Kim Young-Chaet, Ambassador of South Korea and Wabote were among dignitaries that played at the golf championship at the IBB International Golf course in Abuja.

    At the end of the tournament, Mr Okey Igwe, emerged winner of the 2022 NCDMB NOG Golf Tournament, while Mr Loll Manilo picked the trophy for runners up.

    For the lady’s category, Mrs Lamin Ahmen, the Lady Captain of the IBB Golf club, won the overall best trophy while Mrs Ann Abinuku got the runners up category.

    On the standard of play at the championship, Young-Chaet said that he was impressed by the quality of players and the organisational dexterity exhibited by the IBB International Gulf Club.

    He noted that the game played a significant role in building bond of friendship amongst the people and players in the oil industry.

    “The game of golf is good in unifying the people, there are a lot of companies from South Korea operating in the oil and gas industry, and many of them are good at the game of golf.

    ” I have been here for about six months and playing golf here at IBB course. It has shown that the standard is high; I played through in all the 18 holes and it is very great experience,” the envoy said. (

    NewsSourceCredit: NAN

  •  An Information Technology IT expert Mr Sunday Folayan has called for the conversion of the National Youth Service Corps NYSC scheme into an IT Camp Sunday Folayan the Co Founder of the Nigerian Network Operators Group ngNOG made the call during an interview with the Nigeria News Agency in Lagos on Sunday ngNOG is a forum dedicated toward promoting the exchange of technical information the cooperation and coordination among network service providers He said that the NYSC scheme should be restructured due to the importance of Information and Communication Technology ICT in the world According to him the retooling will be a part of the national IT capacity enhancement strategy There should be less emphasis on defence and mililitary paramilitary training as the next frontier is the internet he said Folayan said that there should be a review of the ICT curriculum in the various educational establishments and levels to reflect the realities of the current 21st century and digital age Government should embark on a massive manpower development drive to harness the energies and capabilities of Nigerian youths There should be mass IT literacy programmes at all levels to take education to every Nigerian he said Folayan said that there should be mandatory automation of all government processes functions and operations He said that government should establish an Office of the Chief Information Technology Officer of the Federation as this would help to enhance ICT penetration in the country Edited by Adeleye Ajayi
    Expert calls for re-organisation of NYSC to IT Camp
     An Information Technology IT expert Mr Sunday Folayan has called for the conversion of the National Youth Service Corps NYSC scheme into an IT Camp Sunday Folayan the Co Founder of the Nigerian Network Operators Group ngNOG made the call during an interview with the Nigeria News Agency in Lagos on Sunday ngNOG is a forum dedicated toward promoting the exchange of technical information the cooperation and coordination among network service providers He said that the NYSC scheme should be restructured due to the importance of Information and Communication Technology ICT in the world According to him the retooling will be a part of the national IT capacity enhancement strategy There should be less emphasis on defence and mililitary paramilitary training as the next frontier is the internet he said Folayan said that there should be a review of the ICT curriculum in the various educational establishments and levels to reflect the realities of the current 21st century and digital age Government should embark on a massive manpower development drive to harness the energies and capabilities of Nigerian youths There should be mass IT literacy programmes at all levels to take education to every Nigerian he said Folayan said that there should be mandatory automation of all government processes functions and operations He said that government should establish an Office of the Chief Information Technology Officer of the Federation as this would help to enhance ICT penetration in the country Edited by Adeleye Ajayi
    Expert calls for re-organisation of NYSC to IT Camp
    Science & Technology4 years ago

    Expert calls for re-organisation of NYSC to IT Camp

    An Information Technology (IT) expert, Mr Sunday Folayan, has called for the conversion of the National Youth Service Corps (NYSC) scheme into an IT Camp.

    Sunday Folayan, the Co-Founder of the Nigerian Network Operators Group (ngNOG), made the call during an interview with the Nigeria News Agency in Lagos on Sunday.

    ngNOG is a forum dedicated toward promoting the exchange of technical information; the cooperation and coordination among network service providers.

    He said that the NYSC scheme should be restructured due to the importance of Information and Communication Technology (ICT) in the world.

    According to him, the retooling will be a part of the national IT capacity enhancement strategy.

    “There should be less emphasis on defence and mililitary/paramilitary training, as the next frontier is the internet,’’ he said.

    Folayan said that there should be a review of the ICT curriculum in the various educational establishments and levels to reflect the realities of the current 21st century and digital age.

    “Government should embark on a massive manpower development drive to harness the energies and capabilities of Nigerian youths.

    “There should be mass IT literacy programmes at all levels, to take education to every Nigerian,’’ he said.

    Folayan said that there should be mandatory automation of all government processes, functions and operations.

    He said that government should establish an Office of the Chief Information Technology Officer of the Federation, as this would help to enhance ICT penetration in the country.

    Edited by: Adeleye Ajayi

     

  •  Information Technology IT expert Sunday Folayan has called for the establishment of an Information and Communication Technology ICT Development Bank in the country Folayan the Co founder of the Nigerian Network Operators Group ngNOG made the call in an interview with the Nigeria News Agency in Lagos on Saturday The ngNOG is a forum dedicated to promoting the exchange of technical information as well as cooperation and coordination among network service providers Folayan said that there was the need for an ICT Development Bank that would nurture and specifically care for the country s nascent IT industry He said that such bank was necessary because of the importance of ICT for the nation s socio economic development According to him commercial banks don t understand IT in terms of investment as they are always talking about collateral and valuation of the IT companies We need a specialist bank that understands IT and can invest in IT Commercial banks don t understand agriculture that is why we have the Bank of Agriculture Commercial banks don t understand industry that is why we have the Bank of Industry BoI So we need a bank of ICT that will specially understand IT and be able to fund ICT development in the country We need a bank for IT that will collect less that 10 per cent interest in order to be able to position IT in the country he said Folayan said that ICT development had not taken its place in the nation as it had not been fully utilised According to him ICT Development Bank will enable the acceleration of ICT development in the country There are pockets of ICT usage but it is not synchronised We need to use ICT in full not partially and we have the population to synchronise ICT he said Edited by Tayo Ikujuni Wale Ojetimi
    IT expert calls for establishment of ICT Development Bank
     Information Technology IT expert Sunday Folayan has called for the establishment of an Information and Communication Technology ICT Development Bank in the country Folayan the Co founder of the Nigerian Network Operators Group ngNOG made the call in an interview with the Nigeria News Agency in Lagos on Saturday The ngNOG is a forum dedicated to promoting the exchange of technical information as well as cooperation and coordination among network service providers Folayan said that there was the need for an ICT Development Bank that would nurture and specifically care for the country s nascent IT industry He said that such bank was necessary because of the importance of ICT for the nation s socio economic development According to him commercial banks don t understand IT in terms of investment as they are always talking about collateral and valuation of the IT companies We need a specialist bank that understands IT and can invest in IT Commercial banks don t understand agriculture that is why we have the Bank of Agriculture Commercial banks don t understand industry that is why we have the Bank of Industry BoI So we need a bank of ICT that will specially understand IT and be able to fund ICT development in the country We need a bank for IT that will collect less that 10 per cent interest in order to be able to position IT in the country he said Folayan said that ICT development had not taken its place in the nation as it had not been fully utilised According to him ICT Development Bank will enable the acceleration of ICT development in the country There are pockets of ICT usage but it is not synchronised We need to use ICT in full not partially and we have the population to synchronise ICT he said Edited by Tayo Ikujuni Wale Ojetimi
    IT expert calls for establishment of ICT Development Bank
    Science & Technology4 years ago

    IT expert calls for establishment of ICT Development Bank

    Information Technology (IT) expert, Sunday Folayan, has called for the establishment of an Information and Communication Technology (ICT) Development Bank in the country.

    Folayan, the Co-founder of the Nigerian Network Operators Group (ngNOG), made the call in an interview with the Nigeria News Agency in Lagos on Saturday.

    The ngNOG is a forum dedicated to promoting the exchange of technical information  as well as cooperation and coordination among network service providers.

    Folayan said that there was the need for an ICT Development Bank that would nurture and specifically care for the country’s nascent IT industry.

    He said that such bank was necessary because of the importance of ICT for the nation’s socio-economic development.

    According to him, commercial banks don’t understand IT, in terms of investment, as they are always talking about collateral and valuation of the IT companies.

    ”We need a specialist bank that understands IT and can invest in IT. Commercial banks don’t understand agriculture, that is why we have the Bank of Agriculture.

    ”Commercial banks don’t understand industry, that is why we have the Bank of Industry (BoI).

    ”So we need a bank of ICT that will specially understand IT and be able to fund ICT development in the country.

    ”We need a bank for IT that will collect less that 10 per cent interest, in order to be able to position IT in the country,” he said.

    Folayan said that ICT development had not taken its place in the nation as it had not been fully utilised.

    According to him, ICT Development Bank will enable the acceleration of ICT development in the country.

    ”There are pockets of ICT usage but it is not synchronised. We need to use ICT in full, not partially and we have the population to synchronise ICT,” he said.

    Edited by: Tayo Ikujuni/Wale Ojetimi

  •  The Nigerian Network Operators Group ngNOG on Tuesday said there was need to connect the next 100 million Nigerians to affordable internet The Co founder of ngNOG Mr Sunday Folayan made this known at the 13th Network Technology Conference and Workshop organised by ngNOG in Lagos ngNOG is a forum dedicated to promoting the exchange of technical information and the cooperation and coordination among network service providers It has to do with discussion and policy implementations on issues affecting the internet community and to maintain the stability of the Internet within the Nigerian region Folayan said that there was need to connect the next 100 million Nigerians because of the benefits of the internet He said that connecting the next 100 million could be made easier by recognising the importance of Information Communication Technology ICT in the nation s socioeconomic development According to him there is need to make ICT the centerpiece of national development through steady pursuit of policies and programmes that will re position Nigeria as a strong player in the emerging global digital economy Information technology will require concerted efforts in legislation and policies education and capacity building open governance and enhanced accountability We need to recognise information technology as a matter of national priority and make it the bedrock of national development by putting in policies that will use ICT to drive socioeconomic development Enactment of appropriate legislations to give effect to the various ICT thrusts of the government such as mandatory continuing education the National Software Strategic Policy National Broadband Policy or plan and Financial Technology Services among others he said Folayan said that there was the need to foster technological innovation and competitiveness so as to get very good dividends from the technological forays He said that government should pay attention to locally developed solutions to free the country from digital slavery and technological isolation According to him government should give prominence to the National Local Content Act 2010 The co founder said that a very strong reward system should be instituted to encourage technological innovation at all levels and across all areas He said that government should develop the ICT industry by a method of strong engagement of the industry players at all levels Folayan said that in order to connect the next 100 million Nigerians there was the need to create at least 12 IT or Knowledge Innovation Parks in different parts of the country He said that at least two Software Engineering Institutes SEI should be established in line with the spirit of the Local Content Development Act The march to connect the next 100 million and indeed all Nigerians requires continuous cultivation and empowerment of the community and a task for all to do I humbly request our development partners to keep the faith Nigeria is a great place to cast your nets and of course the returns are enormous Our main task is to build a community of people who can work together to push the envelope to take the nation forward Folayan said Mr Adewale Ajao the President of Internet Society ISOC Nigeria Chapter said that connecting the next 100 million Nigerians required just some simple decisions by government and network operators Ajao said that the cost of accessing the internet should be affordable so as to connect more Nigerians He said that data bundle was costly because a lot of contents came from outside the country hence the need to domesticate contents Edited by Olagoke Olatoye
    Operators Group seeks internet connection for 100m Nigerians
     The Nigerian Network Operators Group ngNOG on Tuesday said there was need to connect the next 100 million Nigerians to affordable internet The Co founder of ngNOG Mr Sunday Folayan made this known at the 13th Network Technology Conference and Workshop organised by ngNOG in Lagos ngNOG is a forum dedicated to promoting the exchange of technical information and the cooperation and coordination among network service providers It has to do with discussion and policy implementations on issues affecting the internet community and to maintain the stability of the Internet within the Nigerian region Folayan said that there was need to connect the next 100 million Nigerians because of the benefits of the internet He said that connecting the next 100 million could be made easier by recognising the importance of Information Communication Technology ICT in the nation s socioeconomic development According to him there is need to make ICT the centerpiece of national development through steady pursuit of policies and programmes that will re position Nigeria as a strong player in the emerging global digital economy Information technology will require concerted efforts in legislation and policies education and capacity building open governance and enhanced accountability We need to recognise information technology as a matter of national priority and make it the bedrock of national development by putting in policies that will use ICT to drive socioeconomic development Enactment of appropriate legislations to give effect to the various ICT thrusts of the government such as mandatory continuing education the National Software Strategic Policy National Broadband Policy or plan and Financial Technology Services among others he said Folayan said that there was the need to foster technological innovation and competitiveness so as to get very good dividends from the technological forays He said that government should pay attention to locally developed solutions to free the country from digital slavery and technological isolation According to him government should give prominence to the National Local Content Act 2010 The co founder said that a very strong reward system should be instituted to encourage technological innovation at all levels and across all areas He said that government should develop the ICT industry by a method of strong engagement of the industry players at all levels Folayan said that in order to connect the next 100 million Nigerians there was the need to create at least 12 IT or Knowledge Innovation Parks in different parts of the country He said that at least two Software Engineering Institutes SEI should be established in line with the spirit of the Local Content Development Act The march to connect the next 100 million and indeed all Nigerians requires continuous cultivation and empowerment of the community and a task for all to do I humbly request our development partners to keep the faith Nigeria is a great place to cast your nets and of course the returns are enormous Our main task is to build a community of people who can work together to push the envelope to take the nation forward Folayan said Mr Adewale Ajao the President of Internet Society ISOC Nigeria Chapter said that connecting the next 100 million Nigerians required just some simple decisions by government and network operators Ajao said that the cost of accessing the internet should be affordable so as to connect more Nigerians He said that data bundle was costly because a lot of contents came from outside the country hence the need to domesticate contents Edited by Olagoke Olatoye
    Operators Group seeks internet connection for 100m Nigerians
    Science & Technology4 years ago

    Operators Group seeks internet connection for 100m Nigerians

    The Nigerian Network Operators Group (ngNOG) on Tuesday said there was need to connect the next 100 million Nigerians to affordable internet.

    The Co-founder of ngNOG, Mr Sunday Folayan, made this known at the 13th Network Technology Conference and Workshop organised by ngNOG in Lagos.

    ngNOG is a forum dedicated to promoting the exchange of technical information and the cooperation and coordination among network service providers.

    It has to do with discussion and policy implementations on issues affecting the internet community, and to maintain the stability of the Internet within the Nigerian region.

    Folayan said that there was need to connect the next 100 million Nigerians because of the benefits of the internet.

    He said that connecting the next 100 million could be made easier by recognising the importance of Information Communication Technology (ICT) in the nation’s socioeconomic development.

    According to him, there is need to make ICT the centerpiece of national development through steady pursuit of policies and programmes that will re-position Nigeria as a strong player in the emerging global digital economy.

    “Information technology will require concerted efforts in legislation and policies, education and capacity building, open governance and enhanced accountability.

    “We need to recognise information technology as a matter of national priority and make it the bedrock of national development, by putting in policies that will use ICT to drive socioeconomic development.

    “Enactment of appropriate legislations to give effect to the various ICT thrusts of the government, such as mandatory continuing education, the National Software Strategic Policy, National Broadband Policy or plan and Financial Technology Services, among others,” he said.

    Folayan said that there was the need to foster technological innovation and competitiveness, so as to get very good dividends from the technological forays.

    He said that government should pay attention to locally developed solutions to free the country from digital slavery and technological isolation.

    According to him, government should give prominence to the National Local Content Act, 2010.

    The co-founder said that a very strong reward system should be instituted to encourage technological innovation at all levels and across all areas.

    He said that government should develop the ICT industry by a method of strong engagement of the industry players at all levels.

    Folayan said that in order to connect the next 100 million Nigerians, there was the need to create at least 12 IT or Knowledge Innovation Parks in different parts of the country.

    He said that at least, two Software Engineering Institutes (SEI) should be established, in line with the spirit of the Local Content Development Act.

    “The march to connect the next 100 million and indeed all Nigerians requires continuous cultivation and empowerment of the community, and a task for all to do.

    “I humbly request our development partners to keep the faith. Nigeria is a great place to cast your nets and of course, the returns are enormous.

    “Our main task, is to build a community of people who can work together, to push the envelope to take the nation forward,” Folayan said.

    Mr Adewale Ajao, the President of Internet Society (ISOC) Nigeria Chapter, said that connecting the next 100 million Nigerians required just some simple decisions by government and network operators.

    Ajao said that the cost of accessing the internet should be affordable, so as to connect more Nigerians.

    He said that data bundle was costly because a lot of contents came from outside the country, hence, the need to domesticate contents.

    Edited by: Olagoke Olatoye