Crude oil prices could rise to $200 per barrel as international oil companies curb their investments in new exploration and production, the Nigerian National Oil Corporation said this week
Abuja, June 10, 2021 Mr Bala Wunti, Group General Manager, National Petroleum Investment Management Services (NAPIMS) says Nigeria has earned over one million euros from sale of carbon credits through its partnership with TotalEnergies. Wunti disclosed this on Wednesday in Abuja, while speaking with newsmen on the
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Bala Wunti, group general manager, National Petroleum Investment Management Services (NAPIMS), the agency charged with the responsibility of managing the nation’s investment in the upstream sector, disclosed this to journalists on Wednesday.
Wunti spoke at the sidelines of the ongoing 2021 Nigeria International Petroleum Summit (NIPS) in Abuja.
Carbon credits are allowances paid by companies that allow it emits a certain amount of carbon dioxide or other greenhouse gases.
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As at 2020,
the World Bank recommendeda price of $40 to $80 per ton for carbon to be traded.
Wunti said the €1 million was earned through its partnership with TotalEnergies.
“It is through our partnership with Total that we are able to market our credit position and monitise it and we have earned over one million euros so far,” he said.