Chris Infotainment

Strengthening Collaboration for Innovation in Nigeria’s Energy Sector The Nigerian National Petroleum Company Limited (NNPC Ltd) has taken a significant step towards fostering technological advancement in the country’s oil and gas industry. Through its subsidiary, Research, Technology, and Innovation (RTI), NNPC Ltd has entered into a Memorandum of Understanding (MoU) with the Petroleum Technology Development Fund (PTDF). This partnership aims to accelerate the integration of technology-driven solutions within the energy sector. The agreement was formalized at PTDF’s headquarters in Abuja, marking a milestone in collaborative efforts between two key players in Nigeria’s energy landscape. The MoU is designed to enhance cooperation in areas such as research, innovation, skills development, and the commercialization of solutions that address pressing industry challenges. At the signing ceremony, Sophia Mbakwe, Executive Vice President of Business Services at NNPC Ltd, emphasized the im...

Challenges Facing the Petrochemical Industry The petrochemical industry is currently facing a period of decline that is expected to last until 2027, after which it may begin to recover. Analysts suggest that this downturn is driven by several factors, including overproduction and shifting global demand patterns. Laksamon Duangkit, an analyst at PTT Global Chemical Plc, highlighted concerns among petrochemical manufacturers regarding a significant increase in ethylene and propylene production over the past five years. These two chemicals serve as essential building blocks for polymers and are used in a wide range of applications. Ethylene is a key feedstock for solvents and detergents, while propylene is used to produce various chemicals, including isopropyl alcohol, which has applications in cleaning and medical fields. Global production capacity for ethylene and propylene is currently around 160 million tonnes per year. However, the volume of these chemicals is projected to continu...