GRBusiness
Seven key reasons you should be serious about cyberattacks
BY: Sandra Ani
According to a global security report released in January this year, a new breed of cyberattacks, seemingly fuelled by geopolitical tension between western democracies and countries including China, Russia and North Korea, is emerging – this against a background in which cryptomining, fileless attacks, ransomware and commodity malware are still causing havoc.
An effective endpoint security system is necessary to protect devices connected to the corporate network, including smartphones, PCs, IoT devices and laptops, from malicious threats.
The Global Threat Report, entitled ‘The Year of the Next-Gen Cyberattack’, was released by Carbon Black, a leader in cloud-delivered, next-generation endpoint security.
The report is based on analysis and insight from the Carbon Black Threat Analysis Unit, which researched cyberattacks across the company’s customer base and in conjunction with its incident response (IR) partners.
On average, according to Carbon Black, the company’s IR partners conduct more than one incident response engagement per day using Carbon Black technology.
The report says: “Modern cyberattacks appear to increasingly be fuelled by geopolitical tension and reveal how clever attackers have become in evolving to remain undetected – using techniques such as lateral movement, island hopping and counter incident response to stay invisible. According to Carbon Black’s threat research, we believe 2019 promises to be a year where endpoint visibility becomes more paramount than ever as attackers continue to evolve and global tensions increase.”
From a geopolitical perspective, the report notes that, as 2018 came to a close, nearly half of all global attacks had originated from China and Russia, according to data provided by Carbon Black’s IR partners. In the third quarter alone, 47 out of 113 incident responses had emanated from these countries.
Toward the end of 2018, the data also revealed several cyberattacks targeting global governments that had included indicators of compromise attributable to North Korea. Further, Iran and Brazil were mentioned in the report as countries of origin for recent attacks.
The CEO of value-added distributor Networks Unlimited Africa, Anton Jacobsz; a vendor partner with Carbon Black in sub-Saharan Africa, said, “The new role of cyberattacks as a weapon between nations has created new battle fronts in the global landscape. For example, between 2011 and 2013, American banks were targeted by DDoS attacks from Iran, and these cyberattacks virtually stopped when negotiations began to lift economic sanctions on Iran in exchange for an end to its nuclear weapons programme.
“Many believe that with the Iran nuclear deal of 2015 now under threat by current United States policy, we could see a return of this kind of activity.
Other key facts released by the ‘Global Threat Report: The Year of the Next-Gen Cyberattack’ include the following:
· The average endpoint protected by Carbon Black was targeted by two cyberattacks per month throughout 2018. At this rate, an organisation with 10,000 endpoints is estimated to see more than 660 attempted cyberattacks per day. Across the Carbon Black customer footprint (totalling approximately 15 million global endpoints) this means there are, on average, one million attempted cyberattacks per day.
· The top industries targeted by ransomware in 2018 were manufacturing, business services, retail, government and computers/electronics.
· Approximately $1.8 billion of cryptocurrency-related thefts occurred in 2018.
· Half of incident response engagements now involve instances of counter incident response, when the attackers fight back against the defence measures taken.
This, says Carbon Black, is “another concerning sign that attackers have become increasingly sophisticated and are initiating longer-term campaigns – as well as a clear signal that incident response must get stealthier.”
· The report also found that more than half of attackers now use their victim primarily for a practice known as ‘island hopping’, when attackers target organisations with the intention of accessing an affiliate’s network.
· Nearly 60 percent of attacks now involve lateral movement, which means that attackers aren’t just going after one component of an organisation: “They’re getting in, moving around and seeking more targets as they go.”
· As nation-state cyberattackers become more sophisticated and powerful, their attacks are also becoming increasingly destructive. Carbon Black’s respondents had said victims outlined in the report had experienced such attacks 32 percent of the time, to the extent that machines suspected by cyberattackers of being forensically analysed had been effectively wiped.
“We can plainly see the rise of new frontiers of opportunity in a world of geopolitical tension that is able to transcend physical borders through cyber means. As attackers continue to evolve and global tensions threaten to increase, the need for endpoint visibility and protection is going to become even more important than ever during this year and moving forward,” concludes Jacobsz.
You can read the Carbon Black ‘Global Threat Report: The Year of the Next-Gen Cyberattack’ here.
…OML 13 Asset Eyes 80,000 bpd by End of 2025
In a major boost for Nigeria’s crude oil production, revenue generation and economic growth efforts, the NNPC Ltd has officially unveiled its latest crude oil grade, the Utapate crude oil blend, before the international crude oil market.
It would be recalled that in July, 2024, NNPC Ltd and its partner, the Sterling Oil Exploration & Energy Production Company (SEEPCO) Ltd introduced the Utapate crude oil blend, following the lifting of first cargo of 950,000 barrels which headed for Spain.
During a ceremony held at the Argus European Crude Conference taking place in London, United Kingdom, on Wednesday, the Managing Director, NNPC E & P Limited (NEPL), Mr. Nicholas Foucart described the introduction of the Utapate crude oil blend into the market as a significant milestone for Nigeria’s crude oil export to the global energy market.
“Since we started producing the Utapate Field in May 2024, we have rapidly ramped up production to 40,000 barrels per day (bpd) with minimum downtime. So far, we have exported five cargoes, largely to Spain and the East Coast of the United States; while two more additional cargoes have been secured for November and December 2024, representing a significant boost to Nigeria’s crude oil export to the global market,” Foucart told a packed audience of European crude oil marketers.
He added that since its introduction into the global market, the Utapate crude oil blend has enjoyed a positive response from the international crude oil market, due to its highly attractive qualities.
Foucart said the Oil Mining Lease (OML) 13, fully operated by NEPL and Natural Oilfield Services Ltd (NOSL), a subsidiary of SEEPCO Ltd, boasts a huge reserves of 330million barrels of crude oil reserves, 45 million barrels of condensate and 3.5 tcf of gas.
“We have a number of ongoing projects to increase our production from the current 40,000bopd to 50,000bopd by January 2025 and 60,000bopd to 65,000bopd by June 2025. Essentially, we are targeting opportunities to increase production to 80,000bopd by the end of 2025,” Foucart added.
He said the Utapate crude oil terminal is sustainable, affordable and fully compliant with the rigorous environmental regulations and sustainability principles especially those aimed at reducing carbon emissions and other ecological effects.
Also speaking, the Managing Director of NNPC Trading Ltd (NTL), Mr. Lawal Sade said the pricing structure of the Utapate crude oil blend is similar to that of Amenam crude as it is a light sweet crude which is highly sought after by refiners across the world due to its low sulphur content, efficient yield of high-value products, API gravity and other similarities.
He said in bringing the new crude oil blend to the global market, NNPC Ltd wanted to optimise value for both its producers and counterparties across the globe.
He added to ensure predictability and sustainability of supply, the NNPC Trading intends to run a term contract on the Utapate crude oil blend cargoes, principally targeting off-takers from the European and the US East Coast refineries.
Produced from the Utapate field in OML 13 in Akwa Ibom State in Nigeria, the Utapate crude oil blend is similar to the Nembe crude oil grade. It has a low sulphur content of 0.0655% and low carbon footprint due to flare gas elimination, fitting perfectly into the required specification of major buyers in Europe.
The NNPC E&P Ltd and NOSL partnership is also committed to operating in a manner that is safe, environmentally responsible, and beneficial to the local communities.
The Utapate field development plan, executed between 2013-2019 and approved in October, included converting wells and facilities from swamp/marine to land-based operations.
The plan involved a multi-rig drilling campaign for 40 wells and the development of significant infrastructure such as production facilities, storage tank, a subsea pipeline and an offshore loading platform to facilitate crude oil evacuation and loading.
The entry of the Utapate crude oil blend into the market is coming barely a year after the NNPC Ltd announced the launch of Nembe crude oil, produced by the NNPC/Aiteo operated Oil Mining Lease (OML) 29 Joint Venture (JV).
This remarkable achievement signals the commitment of the NNPC Ltd to increasing Nigeria’s crude oil production and growing its reserves through the development of new assets.
Energy
NNPC Ltd Set to Supply 100mmscf/d Gas to Dangote Refinery
…10-year Deal to Boost Local Production, Revamp Industrial Growth, reports Ikenna Oluka
The NNPC Gas Marketing Limited (NGML), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, has successfully executed a Gas Sale and Purchase Agreement (GSPA) with Dangote Petroleum Refinery and Petrochemicals FZE.
The agreement, signed by the Managing Director, NGML, Barr. Justin Ezeala and the President/CEO of the Dangote Group, Aliko Dangote on Tuesday at the Corporate Head Office of Dangote in Falomo, Lagos State, outlines the supply of natural gas for power generation and feedstock at the Dangote Refinery, in Ibeju-Lekki, Lagos State.
This major milestone is in line with President Bola Ahmed Tinubu’s policy of utilizing Nigeria’s abundant gas resources towards revamping the nation’s industrial growth and kickstarting its economic prosperity.
This development, which sees a huge investment of this nature penned with zero capital expenditure (CAPEX) outlay, has been described by many as unprecedented in the history of NGML or any gas Local Distribution Company (LDC) in the country.
Under the terms of the agreement, NGML will supply 100 million standard cubic feet per day (MMSCF/D), 50MMSCF/D being firm supply and the rest 50MMSCF/D interruptible natural gas supply to the refinery for an initial period of 10 years, with options for renewal and growth.
This collaboration is a significant step toward ensuring the operational success of the Dangote Refinery and enhancing Nigeria’s domestic gas utilization.
NNPC Ltd, through NGML, its gas marketing subsidiary, continues to lead efforts in promoting the use of domestic gas to support industries and businesses nationwide.
The agreement represents a milestone for both NNPC Ltd and Dangote Refinery, aligning with their shared commitment to boosting local production and providing vital products for the benefit of all Nigerians.
It is also a further proof of NGML’s unwavering commitment to business excellence and fulfilling NNPC Ltd’s core mandate of ensuring Nigeria’s energy security through the execution of strategic gas projects across the country.
Women in Maritime Africa (WIMAfrica), in a significant step forward for female representation in the Maritime field, held a strategic meeting with SIFAX Group at the SIFAX headquarters on November 12th, 2023.
The two organizations aim to foster mentorship, sponsorship, and skills development programs that will empower women to pursue and excel in maritime careers, where female representation remains below 1%. Key figures from WIMAfrica, including Continental Vice President Mrs. Carolyn Ufere and Nigeria’s President Mrs. Rollens Macfoy, emphasized the need for corporate partnerships to expand access to training and professional networks for women. SIFAX’s Coordinating Director, Mrs. Wunmi Eniola-Jegede, expressed the Group’s commitment to gender inclusivity and highlighted the presence of women in leadership roles across its various sectors.
In closing, WIMAfrica extended an invitation for SIFAX Group to support its upcoming conference in Lagos, themed “New Economy and Moving Forward for the Next Generation,” which seeks to inspire young women to explore maritime career paths like engineering and marine security. The collaboration between WIMAfrica and SIFAX Group marks a crucial move toward an inclusive future in Africa’s maritime industry.
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