• Latest
  • Trending
  • All
  • Politics
  • Economy
  • Security
  • Education
  • Sports
  • Health
  • Entertainment
  • Legal
  • Technology and Science
  • Opinion
  • Columns
  • Exposé
  • World
  • Lifestyle
NCDMB Earmarks $40m For Women In Energy Sector

Nigerian Content Boss Lists implications Of Energy Transition

2 months ago
Mexico: Two Children, Others Killed In Gun Attack

More Than 100,000 People Officially Missing In Mexico

8 hours ago
NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

8 hours ago
Aubameyang Announces Retirement From International Football

Aubameyang Announces Retirement From International Football

9 hours ago
NCDMB
ADVERTISEMENT
Int’l Friendly: Mexico Boss Martino To Unveil Wolves’ Raul Jimenez Against Nigeria

Int’l Friendly: Mexico Boss Martino To Unveil Wolves’ Raul Jimenez Against Nigeria

10 hours ago
Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

12 hours ago
Turkey Blocks Talks With Finland, Sweden On NATO Membership

Turkey Blocks Talks With Finland, Sweden On NATO Membership

13 hours ago
2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

14 hours ago
Aribo, Bassey, Balogun Set To Break All-Time Record In Europa League Final With Rangers

Aribo, Bassey, Balogun Set To Break All-Time Record In Europa League Final With Rangers

15 hours ago
Swedish And Finnish Embassies Face Backlash For Hoisting Gay Pride Flags In Zambia

Swedish And Finnish Embassies Face Backlash For Hoisting Gay Pride Flags In Zambia

15 hours ago
Akwa Ibom Governor Purchases All CAF Cup Final Tickets For Fans

Akwa Ibom Governor Purchases All CAF Cup Final Tickets For Fans

15 hours ago
African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

16 hours ago
Nigeria Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

Nigerian Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

18 hours ago
New Somali President Welcomes Return of US Troops

New Somali President Welcomes Return of US Troops

20 hours ago
Flying Eagles Beat Cote D’Ivoire To Qualify For U20 AFCON

Flying Eagles Beat Cote D’Ivoire To Qualify For U20 AFCON

22 hours ago
Nigeria Humanitarian Minister Mourns Kano Explosion Casualties

Nigeria Humanitarian Minister Mourns Kano Explosion Casualties

1 day ago
Prosperity Cup 2022: Foreign Scouts Set To Storm Yenagoa, Bayelsa State

Prosperity Cup 2022: Foreign Scouts Set To Storm Yenagoa, Bayelsa State

1 day ago
Mali: Bomb Kills Two UN Peacekeepers

Mali’s Military Government Says It Foiled Countercoup Attempt

1 day ago
Ethiopia Prime Minister Makes First Visit to Mekelle After Military Action Against Region

Ethiopia Secures $300m World Bank Grant For Reconstruction

1 day ago
AfDB President, Adesina Rules Self Out Of Nigeria's Presidential Race

AfDB President, Adesina Rules Self Out Of Nigeria’s Presidential Race

2 days ago
Money Politics Thwarting Hopes And Aspirations Of Nigeria - Peter Obi

Money Politics Thwarting Hopes And Aspirations Of Nigeria – Peter Obi

2 days ago
ADVERTISEMENT
Thursday, May 19, 2022
  • Photo Speaks
  • Videos
  • You-Report
  • Whistleblower
  • Advertise
  • HT Events
  • About HT
  • Contact
The Heritage Times
No Result
View All Result
Translate | EN FR
  • Login
  • Politics
    2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

    2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

    AfDB President, Adesina Rules Self Out Of Nigeria's Presidential Race

    AfDB President, Adesina Rules Self Out Of Nigeria’s Presidential Race

    Money Politics Thwarting Hopes And Aspirations Of Nigeria - Peter Obi

    Money Politics Thwarting Hopes And Aspirations Of Nigeria – Peter Obi

    Nigeria: EFCC Arrests Accountant-General Of The Federation, Ahmed Idris Over N80bn Fraud

    Nigeria: EFCC Arrests Accountant-General Of The Federation, Ahmed Idris Over N80bn Fraud

    Petroleum Minister, Sylva Withdraws From Presidential Race

    Petroleum Minister, Sylva Withdraws From Presidential Race

    New Somali President Welcomes Return of US Troops

    World Leaders Welcome Somalia’s New President

    Thousands Hold Protests Against Tunisia President

    Thousands Hold Protests Against Tunisia President

    Somalia: Lawmakers Vote To Choose President After 15 Months Delay

    Somalia: Lawmakers Vote To Choose President After 15 Months Delay

    2023: Malami, Ngige Abandon Political Ambitions To Keep Current Job

    2023: Malami, Ngige Abandon Political Ambitions To Keep Current Job

  • Economy
    NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

    NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

    African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

    African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

    Nigeria Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

    Nigerian Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

    Ethiopia Prime Minister Makes First Visit to Mekelle After Military Action Against Region

    Ethiopia Secures $300m World Bank Grant For Reconstruction

    Nigeria: Naira Sees Fall Against Dollar

    Nigeria: Naira Sees Big Fall Against Dollar

    Nigeria’s Inflation Rate Jumps To 16.82% In April 2022

    Nigeria’s Inflation Rate Jumps To 16.82% In April 2022

    Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

    Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

    Ghana Will Solve Debt Crisis Without IMF Aid – Finance Minister

    Ghana Will Solve Debt Crisis Without IMF Aid – Finance Minister

    Botswana Set To Supply Europe Million Tonnes Of Coal Annually - President Masisi

    Botswana Set To Supply Europe Million Tonnes Of Coal Annually – President Masisi

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
  • Politics
    2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

    2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

    AfDB President, Adesina Rules Self Out Of Nigeria's Presidential Race

    AfDB President, Adesina Rules Self Out Of Nigeria’s Presidential Race

    Money Politics Thwarting Hopes And Aspirations Of Nigeria - Peter Obi

    Money Politics Thwarting Hopes And Aspirations Of Nigeria – Peter Obi

    Nigeria: EFCC Arrests Accountant-General Of The Federation, Ahmed Idris Over N80bn Fraud

    Nigeria: EFCC Arrests Accountant-General Of The Federation, Ahmed Idris Over N80bn Fraud

    Petroleum Minister, Sylva Withdraws From Presidential Race

    Petroleum Minister, Sylva Withdraws From Presidential Race

    New Somali President Welcomes Return of US Troops

    World Leaders Welcome Somalia’s New President

    Thousands Hold Protests Against Tunisia President

    Thousands Hold Protests Against Tunisia President

    Somalia: Lawmakers Vote To Choose President After 15 Months Delay

    Somalia: Lawmakers Vote To Choose President After 15 Months Delay

    2023: Malami, Ngige Abandon Political Ambitions To Keep Current Job

    2023: Malami, Ngige Abandon Political Ambitions To Keep Current Job

  • Economy
    NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

    NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

    African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

    African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

    Nigeria Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

    Nigerian Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

    Ethiopia Prime Minister Makes First Visit to Mekelle After Military Action Against Region

    Ethiopia Secures $300m World Bank Grant For Reconstruction

    Nigeria: Naira Sees Fall Against Dollar

    Nigeria: Naira Sees Big Fall Against Dollar

    Nigeria’s Inflation Rate Jumps To 16.82% In April 2022

    Nigeria’s Inflation Rate Jumps To 16.82% In April 2022

    Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

    Nigeria Issues Crypto Asset Rules In A Move That Could Boost Adoption

    Ghana Will Solve Debt Crisis Without IMF Aid – Finance Minister

    Ghana Will Solve Debt Crisis Without IMF Aid – Finance Minister

    Botswana Set To Supply Europe Million Tonnes Of Coal Annually - President Masisi

    Botswana Set To Supply Europe Million Tonnes Of Coal Annually – President Masisi

  • Security
  • Education
  • Sports
  • Health
  • Metro
  • Entertainment
  • Lifestyle
  • Legal
  • Tech & Science
  • Opinion
  • Exposé
  • Exclusive Videos
  • Niger Delta
  • World
No Result
View All Result
Morning News
ADVERTISEMENT
Home Economy

Nigerian Content Boss Lists implications Of Energy Transition

• Harps on the need to strike a balance between the drive for renewables and stoppage of new investments in fossil fuels.

April 1, 2022
in Economy, Top Stories
0
NCDMB Earmarks $40m For Women In Energy Sector

NCDMB Executive Secretary, Engr. Simbi Wabote.

18
VIEWS
Share on FacebookShare on TwitterShare on Whatsapp
ADVERTISEMENT

By John Ikani

The Executive Secretary of the Nigeria Content Development and Monitoring Board (NCDMB), Engr Simbi Wabote has identified divestment from hydrocarbons assets and energy shortage as two implications of energy transition with different impacts on the oil and gas industry.

Relatedreading

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

Engr. Wabote made this known on Thursday in Abuja at the 2022 Oloibiri Lecture Series and Energy Forum (OLEF).

ADVERTISEMENT
ADVERTISEMENT
ADVERTISEMENT

The Forum with the theme: “Global Energy Transition: Implications on Future Investments in the Nigerian Oil and Gas Industry,” was organised by the Society of Petroleum Engineers.

The forum is being held annually in commemoration of the very first commercial well drilled in Nigeria at Oloibiri, Bayelsa State in 1956.

Wabote, in his presentation, said the two implications have emerged from such rush to move the world away from fossil fuel.

He said: “First is the divestment case in which European and Western countries are shifting funding away from the development of hydrocarbons towards renewable energy.

“The second implication of energy transition is the energy shortage case in which there is decline in supply of hydrocarbons due to lack of investment while shift to renewable energies is not sufficient to meet global energy demand.

“The energy shortage case was already prominent even before the Russia-Ukraine war.”

While noting that these two implications have impact on the Nigerian oil and gas industry, Engr. Wabote added that the divestment case brought about a bitter-sweet experience for countries like Nigeria.

According to him, the positive part of the divestment was the active participation of local companies in upstream sector which resulted in the emergence of indigenous companies playing a major role in exploration and production activities.

“Such companies like Seplast Energy, Eroton Exploration and Production and First E and P among others have acquired assets and now responsible for producing about 15 per cent of Nigeria’s oil and gas requirement and 60 per cent of domestic gas.

“On the other hand, the bitter part of the divestment is the International Oil Companies (IOCs) divestment and reluctant to make further investment in the oil and gas.

“These, have resulted to local repatriation, stifling of local economy of needed foreign exchange and reduced investment in oil and gas related projects,” he said.

The NCDMB boss went on to assert that the energy shortage case is evidently becoming new global reality and provides huge opportunity for the industry.

He emphasised on the need to strike a balance between the drive for renewables and stoppage of new investments in fossil fuels.

“As misalignment in the transition strategy will result in supply and demand disruptions,” he advised.

Tags: breakingHeritageheritage timesheritagetimesmedialatestnewsNigerian Content Development and Monitoring Board (NCDMB)Oloibiri Lecture Series and Energy Forum (OLEF)Simbi Wabotethe heritage timesthtthtafricatop stories
ShareTweetSendShare
ADVERTISEMENT
Previous Post

Stakeholders Wrap Up Tour Of NCDMB Projects In The Niger Delta

Next Post

Nollywood Comic Actor, Dejo Tunfulu Is Dead

Related Posts

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

May 18, 2022
Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

May 18, 2022

Turkey Blocks Talks With Finland, Sweden On NATO Membership

Swedish And Finnish Embassies Face Backlash For Hoisting Gay Pride Flags In Zambia

African Local Content Stakeholders Advocate For More Home-Grown Technology Solution

Nigerian Businessman, Aliko Dangote Allegedly Broke, Unable To Complete Refinery By 2023 – Report

Next Post
Nollywood Comic Actor, Dejo Tunfulu Is Dead

Nollywood Comic Actor, Dejo Tunfulu Is Dead

Discussion about this post

Heritage Bank

Updates

  • Trending
  • Comments
  • Latest
Nigeria: Rep Member Condemns Renewed Attack On Constituency By Suspected Fulani Herders

Nigeria: Rep Member Condemns Renewed Attack On Constituency By Suspected Fulani Herders

May 15, 2022
Nigeria: Students Stone Coursemate To Death In Sokoto College Of Education Over alleged Blasphemy

Nigeria: Students Stone Coursemate To Death In Sokoto College Of Education Over alleged Blasphemy

May 12, 2022
62-year-old African Reaches Peak Of Mount Everest

62-year-old African Reaches Peak Of Mount Everest

May 13, 2022
Presidential Abracadabra!

Presidential Abracadabra!

May 12, 2022
Mexico: Two Children, Others Killed In Gun Attack

More Than 100,000 People Officially Missing In Mexico

May 18, 2022
NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

May 18, 2022
Aubameyang Announces Retirement From International Football

Aubameyang Announces Retirement From International Football

May 18, 2022
Int’l Friendly: Mexico Boss Martino To Unveil Wolves’ Raul Jimenez Against Nigeria

Int’l Friendly: Mexico Boss Martino To Unveil Wolves’ Raul Jimenez Against Nigeria

May 18, 2022
NCDMB

Most Recent

More Than 100,000 People Officially Missing In Mexico

May 18, 2022

NiDCOM, FMBN Set To Launch Diaspora Housing Scheme

May 18, 2022

Aubameyang Announces Retirement From International Football

May 18, 2022

Int’l Friendly: Mexico Boss Martino To Unveil Wolves’ Raul Jimenez Against Nigeria

May 18, 2022

Nigeria’s Accountant General Bags Indefinite Suspension Over N80bn Fraud

May 18, 2022

Turkey Blocks Talks With Finland, Sweden On NATO Membership

May 18, 2022

2023: Niger Delta Ex Agitators Commend Sylva’s Move To Withdraw Presidential Ambition

May 18, 2022

Aribo, Bassey, Balogun Set To Break All-Time Record In Europa League Final With Rangers

May 18, 2022
HOUSE FORTY THREE RESTAURANT
MOSILO GROUP
ADVERTISEMENT

About

The Heritage Times was established to advance transparency and accountability in leadership and governance. Our vision is to become Africa's foremost provider of quality news and contents. We seek to lead a news media revolution that will foster a sustainable democratic Africa.

Featured

World Press Freedom Day: Where Do African Countries Rank?

2023 Elections: Simple Steps On How To Apply For Voters Card Online In Nigeria

#ReformIELTSPolicy: Group Presents More Evidence To Intensify Campaign For Nigeria’s IELTS Exemption

Connect

Connect with us on social media and receive timely updates on the go.

Get Updates

    • About
    • Privacy Policy

    © 2022 The Heritage Times Media.

    No Result
    View All Result
    • Welcome
    • Politics
    • Economy
    • Security
    • Exposé
    • Education
    • Sports
    • Health
    • Entertainment
    • Legal
    • Technology and Science
    • Opinion
    • Columns
    • World
    • __________________
    • Photo Speaks
    • Videos
    • You-Report
    • Whistleblower
    • Advertise
    • HT Events
    • About HT
    • Contact us

    © 2022 The Heritage Times Media.

    Welcome Back!

    Login to your account below

    Forgotten Password?

    Retrieve your password

    Please enter your username or email address to reset your password.

    Log In