UTM Offshore signs an agreement with Afreximbank for FLNG project financing

Afreximbank bank will part-finance activities designed to progress the first Floating Liquefied Natural Gas (FLNG) project in Nigeria being developed by UTM Offshore Limited. As per the deal, a continuation of the support of Afreximbank, which has been leading UTM’s fundraising efforts to secure the necessary investments required for the project’s implementation. In line with

ARDA says refining sector accounts for 3% of global energy emission

According to the African Refiners and Distributors Association (ARDA) the refining sector only accounts for 3% of the global energy sector emission. This was revealed at the second Refining and Specifications Virtual Workshop organised by the ARDA and monitored by Investors King. According to them, as the fuel combustion accounts for 80% of refinery carbon

Nigerian Refineries will meet local fuel demand

The 650,000bpd Dangote Petroleum Refinery, Nigerian National Petroleum Corporation (NNPC) and other modular refineries are expected to be the major drivers of Nigeria’s demand for petroleum products, which is projected to grow massively in the nearest future. Speaking at the just concluded 15th Oil Trading and Logistics (OTL) Africa Downstream Week in Lagos, the Group

Nigeria set to domesticate Methanol production

Minister of Science, Technology, and Innovation, Dr. Ogbonnaya Onu has said that Nigeria is ready to domesticate Methanol fuel production in the country for professionals and expatriates to exhibit their talents and exchange business ideas with their counterparts both home and abroad. The Minister said this when the National Coordinator of the Movement for the