Wildlife Economy Summit to launch African-led vision for conservation

Heads of State, business leaders, technical experts and community representatives will gather in Zimbabwe’s Victoria Falls from 23-25 June for the Africa Wildlife Economy Summit, which aims to radically change the way... Read more »

I’m confident Kyari, new COOs ‘ll deliver —Baru

Encomiums have continued to pour in for the appointment of the new Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Mallam Mele Kolo Kyari. Leading the torrent of commendation is... Read more »

Schneider Electric, EM-ONE Energy Solutions sign MoU on renewable energy

Schneider Electric has signed a Memorandum of Understanding with EM-ONE Energy Solutions, a Nigerian sustainable energy engineering company.The aim of the partnership is to create an African mini-grid industry involving decentralised electricity... Read more »

Why Buhari removed Maikanti Baru as NNPC GMD

Damilola Shittu – Abuja Following the removal of Dr Maikanti Baru as the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) and appointment of Mr Kolo Kyari as the new... Read more »

Anadarko signs off with Mozambique LNG FID

Mozambique’s long-awaited giant LNG project is now set for completion Anadarko’s positive final investment decision on the $20 billion-plus Area 1 Mozambique LNG project is a significant achievement for a development that... Read more »

Water constraints, gas shortage, others cut power generation by 3,109.5MW

By Oke Peter There are reports that a total of 3,109.5 megawatts of electricity could not be generated on the country’s power grid on Wednesday as a result of gas, frequency and... Read more »

Femi Otedola: From Forte Oil to Geregu Power

Oil entrepreneur, Femi Otedola, on Wednesday, June 19, 2019, finally sold off his majority stake in indigenous oil company, Forte Oil. In a move that trails a series of announcements concerning his... Read more »

Wärtsilä Modular Block offers reliable, efficient power generation for African businesses —Yusuff Wale Raphael

Yusuff Wale Raphael is the Business Development Manager, North Africa, Nigeria and Ghana, Wärtsilä Energy Business. He has over 16 years of experience in marketing and business development in the Nigerian Oil... Read more »

Africa50: An innovative African solution to an African challenge

Africa50 is an infrastructure investment platform that contributes to Africa’s growth by developing and investing in bankable projects, mostly in the energy, ICT and transport sectors. Its COO, Carole Wainaina, in this... Read more »

Power grid development: UK’s CDC to invest $300m in Africa

The United Kingdom government’s foreign investment arm, CDC Group, has announced it will invest $300 million in power grid development in Africa over the next five years. This contribution will be made... Read more »

Energy: Despite challenges, Africa’s debt is still under control, says AfDB

The African Development Bank (AfDB) remains strong with growing operating revenues and allocable income generated since 2010 reaching $2.5 billion, the Bank Group’s Treasurer, Hassatou Diop N’sele, stated on Thursday. In 2018,... Read more »

Wärtsilä launches Modular Block solution for sustainable power generation

By Oke Peter Foremost technology group, Wärtsilä has launched a modular, reliable and efficient solution for sustainable power generation, with fast delivery and installation, Modular Block at the ongoing Africa Energy Forum... Read more »

BOI: The bank for all seasons

The Bank of Industry is Nigeria’s oldest and largest development bank. It celebrates its 60th anniversary this year and given the strides it has made over the past few years, there is... Read more »

ATI, KfW unveil renewable energy solution, Transparency Tool to aid electrification in Africa

The African Trade Insurance Agency (ATI) through its partnership with KfW, has launched a new renewable energy solution, the Transparency Tool on the sidelines of the premier global energy event for Africa,... Read more »

Ikeja Electric rolls out prepaid meters for Ikorodu customers under MAP Scheme

One of Nigeria’s leading electricity distribution companies, Ikeja Electric Plc (IE), has announced the roll-out of prepaid meters for customers in the Ikorodu Business Unit. According to the firm, the deployment and... Read more »

20 energy ministers, 2,500 delegates brainstorm as 21st Africa Energy Forum begins in Lisbon

By Oke Peter The 21st edition of the foremost global investment meeting for Africa’s power, energy, infrastructure, and industrial sectors, Africa Energy Forum (AEF) begins today at the Lisbon Congress Center, Lisbon,... Read more »

Pearl Garden Estate residents petition EFCC over Kelechukwu Mbagwu, CMB board’s real estate fraud allegations

Residents of Pearl Garden Estate and Pearl Nuga Park Estate located at Sangotedo Village in Eti-Osa Local Government Area of Lagos State have dragged Mr. Kelchi Mbagwu and his CMB Building Maintenance... Read more »

Shell expands gas distribution capacity in Nigeria

By Oke Peter Shell Nigeria Gas says it has increased its gas distribution capacity by over 150 percent following the safe completion of its second gas train, the Agbara-Ota Capacity Increase Project.... Read more »

Schneider Electric launches new products in Nigeria

Schneider Electric, the global specialist in energy management and automation present in more than 100 countries has launched a new range of products for its Nigerian market to address power-related challenges and... Read more »

Seplat royalties dispute highlights Nigerian corporate tax dangers

Shares of Nigerian oil producer Seplat were quick to rally in London after the company denied claims by a Nigerian presidential investigation panel that the company had failed to make royalty payments... Read more »

Concern as DPR revokes six oil licenses

The Department of Petroleum Resources (DPR) has revoked five Oil Mining Licences and one Oil Prospecting Licence belonging to five companies. In a public notice issued on Thursday by the regulatory body,... Read more »

Solar Impulse Foundation, European Investment Bank sign MoU on financing strategy

The Solar Impulse Foundation and the European Investment Bank (EIB) have signed a landmark agreement for the provision of financial advisory services to innovative environmental solutions part of the #1000Solutions portfolio. The... Read more »

Electricity crisis: FG meets power firms •Says German govt to assist with distribution projects

By Oke Peter In its determination to put an end to the electricity problem in Nigeria, the Presidency has met with electricity distribution companies in a bid to resolve some of the... Read more »

Presidential panel uncovers NNPC’s dollar accounts, asks bank to remit $2m proceeds into TSA

The Special Presidential Investigation Panel for the Recovery of Public Property has uncovered eight-dollar accounts and other naira accounts said to be kept by the Nigerian National Petroleum Corporation (NNPC) with the... Read more »

Muhammadu Buhari’s challenge to keep Nigeria’s lights on

Africa’s biggest economy has been crippled by its woeful power supply Babatunde Fashola’s office was buzzing like so many Nigerian workplaces, humming and whirring as diesel generators and batteries clicked on when... Read more »

How Nigeria can raise $400bn to fix the power sector —Badipe, Nigerian nuclear scientist

Otunba Segun Badipe is a Nigerian nuclear medical scientist based in the United States. He is also a health administrator and a public affairs analyst. With over 36 years’ practice in private... Read more »

Gas projects ’ll boost GDP by $50bn in 2021, says NNPC

By Oke Peter The Nigerian National Petroleum Corporation (NNPC) has said with the 3,500 million standard cubic feet per day of additional gas to be supplied from seven critical gas development projects,... Read more »

Father, son, arraigned for attacking Ikeja Electric staff

A father and his son were arraigned before a Magistrate court in Agbowa, on Thursday, 30th May 2019, for assaulting staff of Ikeja Electric while carrying out their duties in Oluhunda Community... Read more »

Global Energy: Expert analysis and forecasts

At the beginning of this year, major international companies and agencies (the IAEA, McKinsey, BP, the World Nuclear Association, etc.) laid out the current trends and main statistics of the global energy... Read more »

Senate confirms N11trn oil subsidy payment, okays N129bn for marketers

Jumoke Adelabu – Abuja The Senate on Thursday confirmed the payment of N11 trillion as fuel subsidy claims in the last six years. The chairman of its Committee on Petroleum Downstream, Kabir... Read more »

Technical committee approves N124.3bn bids for Afam, Yola Disco

Damilola Shittu – Abuja The Technical Committee of the National Council on Privatisation (NCP) has approved N124.3 billion bids for Afam Power Plc and Yola Electricity Distribution Company, the investigation has shown.... Read more »

Oil, gas investment opportunities abound in Africa —Seplat Director

Seplat Petroleum Development Company Plc’s Operations Director, Mr Effiong Okon, has stated that Africa is the destination for gas development and investment. He gave this insight in his keynote address at the... Read more »

NNPC posts $490.03m export sale of crude oil and gas …Records over 8% increase in gas supply for power generation

By Oke Peter The Nigerian National Petroleum Corporation (NNPC) posted a total export sale of crude oil and gas of $490.03 million in February 2019 which is 32.45 percent higher than the... Read more »

Ethiopia secures grant to roll out hydropower projects

The Sustainable Energy Fund for Africa (SEFA), managed by the African Development Bank, has recently approved a $995,000 grant to support the roll-out of a sustainable procurement framework for Independent Power Producers... Read more »

Oil prices drop as trade war worries outweigh supply disruptions

Oil prices fell more than 2 per cent on Wednesday, as China signalled it would use the rare earths card in its trade war with the United States, stoking concerns that an... Read more »

EFCC arraigns five marketers for alleged N1bn oil theft

By Oke Peter The Economic and Financial Crimes Commission (EFCC) on Tuesday arraigned five oil marketers for allegedly stealing petroleum products worth N1bn belonging to the United Bank for Africa. Thompson Omoietan,... Read more »

Ikeja Electric reiterates commitment to safety of staff

One of Nigeria’s leading Electricity Distribution Companies, Ikeja Electric Plc (IE), has reiterated the commitment of the company to the safety of its staff across its network area. The firm’s Head of... Read more »

Deepwater struggles to make its case

The oil price recovery has not yet translated into a rush of cash into challenging offshore environments The world’s largest listed oil and gas firms are continuing to stress their financial discipline,... Read more »

Waiting for the dust to settle in Algeria

Political turmoil is unsettling Algeria’s energy sector and its IOC investors Algeria’s energy sector finds itself in the firing line once more. Following the ousting of president Abdelaziz Bouteflika after mass street... Read more »

Contract inflation: Reps ask Total to refund $592m to FG …Order NNPC/NAPIMS staff to refund $1m

Damilola Shittu – Abuja The House of Representatives, on Thursday, asked Total Exploration and Production Nigeria to refund $592m to the Federal Government. The decision was taken following the consideration of the... Read more »

Recruitment: NNPC schedules CBT for shortlisted candidates, June 1

By Oke Peter The Nigerian National Petroleum Corporation, (NNPC), on Thursday, said its ongoing recruitment exercise has entered the third phase following the conclusion of the shortlist of the candidates. The NNPC,... Read more »

Nigeria’s oil exports threatened as fire hits 250,000bpd pipeline

Nigeria’s crude oil exports have suffered a fresh setback following a fire outbreak on the Trans Forcados Pipeline, one of the nation’s key export routes. One of our correspondents learnt that the... Read more »

UNIDO, AECF to support SMEs, entrepreneurs in clean energy and agri-business in Africa

The United Nations Industrial Development Organisation (UNIDO) and the Africa Enterprise Challenge Fund (AECF) signed a memorandum of understanding (MoU) to promote inclusive and sustainable industrial development in Africa. Under this MoU,... Read more »

NNPC removes NPDC boss, 49 others in major shake-up

There has been a massive reorganisation of the top management staff of the Nigerian National Petroleum Corporation, as about 50 senior personnel of the oil firm and its subsidiaries have either been... Read more »

Ethiopia begins rationing electricity for homes, industries

Agency Report Ethiopia has started to ration electricity for domestic and industrial customers after a drop in water levels in hydroelectric dams led to a production deficit. Ethiopia’s minister for water and... Read more »

Sahara Energy, Brooge Petroleum partner to build 250,000bpd refinery in Fujairah

Sahara Energy Resources DMCC Dubai and Brooge Petroleum and Gas Investment Co (BPGIC) and have signed a partnership agreement to set up an oil refinery capable of producing bunker fuel with a... Read more »

Egypt to develop a 600MW Photo-Voltaic Solar complex

The Egyptian Electricity Transmission Company (EETC) has signed an agreement with the International Finance Corporation (IFC) to develop a 600 MW solar power complex in Egypt’s West Nile province. Muneer Ferozie, IFC’s... Read more »

Shell, Eni and the Nigerian corruption quagmire of OPL 245

In its latest legal moves, the Nigerian government has raised the stakes in the legal battles over the highly prospective OPL 245 oil block. The Africa Report delves into the background of... Read more »

Go to Cotonou and look at their distribution networks, TCN boss tells Discos

Damilola Shittu – Abuja Nigeria supplies about 80 per cent of the total quantum of electricity consumed in the Republic of Benin but power is more stable in the neighbouring country than... Read more »

Nigerians should expect petrol price increase —Rewane

The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at... Read more »

Nigeria’s oil output rises by 5.3% in April

Oke Peter with Agency Report Nigeria oil output has risen from 1.7 million barrels per day, mbpd, in March to 1.8 mbpd in April, 2019, indicating an increase a 5.3 percent improvement,... Read more »

Public buildings, institutions to go on solar —FG

THE Federal Government has started plans to connect all public buildings and institutions to solar (off grid) power, in a bid to achieve its electrification programme for the country. Minister of State... Read more »

Investment platform open for solar plants in West Africa

West African solar energy company, Daystar Power, has partnered with Trine a Swedish investment platform to finance solar plants in West Africa. The partnership opens up investments in Daystar Power’s solar power... Read more »

World’s largest refinery shuts down crude unit for a month

India’s Reliance Industries will shut for up to four weeks a 330,000-bpd crude oil processing unit at its 660,000-bpd Jamnagar refinery, beginning in the middle of June for planned maintenance, Reuters reported... Read more »

NERC has power to revoke licenses of non-performing DisCos —Fashola

Damilola Shittu – Abuja The Minister of Power, Works and Housing, Mr Babatunde Fashola says the power to revoke licenses of non-performing electricity Distribution Companies is vested in the Nigerian Electricity Regulatory... Read more »

Slovak firm plans to assemble electric cars in Nigeria

Oke Peter with Agency Report Sirieco, a Slovak company plans to set up a plant in Nigeria, to assemble electric cars and manufacture the new-generation incandescent bulbs, the company’s CEO, Groidis Peter,... Read more »

DPR approves One-million-barrel capacity onshore terminal project in Rivers

Construction of a one-million-barrel capacity onshore terminal in Nigeria has been approved by the Department of Petroleum Resources (DPR). Chairman of Green Energy International Ltd. (GEIL), Professor Anthony Adegbulugbe revealed the reports... Read more »

80 deepwater oil blocks not producing —NNPC …Puts deepwater operations’ revenue at $180bn

Only seven out of the 87 deepwater oil blocks in Nigeria are producing, while six are at different phases of development, the Group Managing Director of the Nigerian National Petroleum Corporation, Dr... Read more »

FG makes N10.97bn in mining fees, royalties in four years

Jumoke Adelabu – Abuja Even though the Federal Government had anchored a significant part of its diversification programme on the mining sector, it made only N10.97bn from fees and royalties paid by... Read more »

FG indicts Shell, Eni executives in $1bn bribery case

Oke Peter with Agency Report Royal Dutch Shell Plc and Eni SpA face additional corruption allegations over a Nigerian oil deal, after the Federal Government said in a London lawsuit that it... Read more »

Nigeria to receive $21m grant for solar power projects

Nigeria is set to receive US $21m from the United Kingdom and Africa Enterprise Challenge Fund (AECF) to support the deployment of solar generated electricity small businesses in the country. The funds... Read more »

South Africa, South Sudan sign exploration and production sharing agreement

The agreement is the second EPSA signed since South Sudan gained independence in 2012 and shows progress for the country’s oil industry as production resumes at existing oilfields and new exploration begins.... Read more »

NECA joins global debate on management of e-waste

The Nigeria Employers’ Consultative Association (NECA), has joined the Global Dialogue Forum on Decent Work in the management of electrical and electronic waste (e-waste), which took place in Geneva recently, as part... Read more »

Renewable energy fund achieves $227m in Africa

An investment fund focused on the development of renewable energy projects in sub-Saharan Africa, Frontier Energy II, has achieved final close at $227 million. The capital raised so far has been mainly... Read more »

Africa Energy Forum organises football match to raise fund for Cyclone Idai victims

By Oke Peter The organiser of the forthcoming Africa Energy Forum (AEF), EnergyNet Limited has teamed with KOHLER, principal partner of Manchester United, and Clarke Energy, a KOHLER company, to raise £50,000... Read more »

Norway’s $1trn oil earnings, world’s largest sovereign wealth fund in Q1 —Report

By Tsvetana Paraskova The world’s largest sovereign wealth fund—Norway’s US$1-trillion fund that has amassed its wealth from oil. The country earned US$84 billion in Q1 in the “strongest quarter ever”, boosted by... Read more »

Rwanda set to establish nuclear power plant center

Rwanda has announced plans to establish a Centre for Nuclear Science and Technology (CNST) within the next five years. Robert Nyamvumba, the Energy Division Manager at the Ministry, revealed the reports and... Read more »

Power finance: Electricity sector in turmoil —Penny Herbst

Penny Herbst is the Strategy Director at Africa GreenCo. She is also a moderator of a session on financing renewable projects, during the Energy Revolution Africa conference session at the forthcoming African... Read more »

Netherlands turns to LNG

The Dutch reign as a pivotal European gas supplier is officially over, as supply from the Groningen gas field declines. The Netherlands is now officially a net gas importer, as dwindling domestic... Read more »

132 firms bid to buy 14 cargoes of Nigerian crude monthly

By Oke Peter ONE hundred and thirty-two local and international companies yesterday offered to buy 14 cargoes of Nigerian crude oil monthly in the Nigerian National Petroleum Corporation (NNPC) 2019/2020 Direct Sale... Read more »

Gas-to-power facing socio-economic challenges

Vested interest opposition to wider natural gas use for electricity generation discussed as Petroleum Economist holds its first Gas to Power forum in London. Using natural gas to generate electricity as the... Read more »

We ‘ll support AfDB’s $10bn power initiative in Nigeria, says UN

Damilola Shittu – Abuja The United Nations has thrown its weight behind the quest of the African Development Bank to provide electricity to 250 million people in Africa through its ‘Desert to... Read more »

DPR deploys technology to halt $2.8bn loss to oil smuggling

Esther Ajibola – Lagos The Department of Petroleum Resources (DPR) has turned to French data firm Kpler to help it ferret out smugglers from the thousands of ships plying Nigerian waters. The... Read more »

Shell, Total declare force majeure on Bonny Light

Two oil majors, Shell Petroleum Development Company of Nigeria and Total, have declared force majeure on exports of crude on each of their trunk lines, spokespersons for the firms have said. According... Read more »

Transcorp Consortium wins bid for Afam Power Plc

Damilola Shittu – Abuja Transcorp Power Consortium has emerged the bid winner for Afam Power Plc. The consortium submitted a bid of N105.3 billion to beat two other companies that wanted to... Read more »

Tesla begins price war in solar panel market

By Irina Slav There are strong indications that the foremost electric vehicle maker, Tesla, will cut the prices of its solar panels by as much as 38 percent below the national average... Read more »

Oil tops $73 on Venezuela turmoil, Saudi support for OPEC cuts

Agency Report Oil prices topped $73 on Tuesday as Venezuela’s opposition leader called on the military to back him to end Nicolas Maduro’s rule and after Saudi Arabia said a deal between... Read more »

FG, investors open financial bids for Afam Power, Yola Disco

By Oke Peter The Federal Government has invited four firms for financial bids opening for Afam Power Plc, an electricity generation company, and Yola Electricity Distribution Company in Abuja on Tuesday (today).... Read more »

Gas leakage responsible for shutdown of four power plants, says TCN

THE Transmission Company of Nigeria (TCN) at the weekend, disclosed that a leakage on the Escravos-Lagos gas Pipeline had led to the shutdown of four power generating plants last Wednesday. As a... Read more »

Morocco’s energy sector investments exceed US$13bn

Moroccan minister for energy, mines and sustainable development, Aziz Rabbah, has announced that the amount of investments in the country has exceeded US$13.7 billion. He noted that in selecting projects, the government... Read more »

US firm to build 900MW solar plant in Zimbabwe

An American company, Labacorp Power Company America, has expressed interest in developing a 900MW solar project in Zimbabwe. The US-based corporate has applied to the Government, through their local partners Craft Properties... Read more »

Nigeria loses $29.3bn yearly to erratic power supply —GenCos

Damilola Shittu – Abuja The Electricity Generation Companies (GenCos) at the weekend said the country loses $29.3 billion yearly to low supply resulting from load shedding and inadequate facilities. The Executive Secretary,... Read more »

Saudi Arabia set to invest in Nigeria’s refineries, build new plant —FG

Damilola Shittu — Abuja The government of Saudi Arabia has expressed readiness to sign a memorandum of understanding with Nigeria for the revamp of Nigerian refineries and for the construction of a... Read more »

US gives boost to Korea’s $1bn electricity project in Africa

The United States government has further shown commitment towards the Republic of Korea’s $1 billion contribution to boost electricity supply to African countries, as a way of ensuring that the dream to... Read more »

Chevron’s oil wells catch fire in Ondo

No fewer than five oil wells, belonging to Chevron Nigeria Limited, in some communities in Ilaje Local Government Area of Ondo State, caught fire on Thursday. A source disclosed that the fire... Read more »

NNPC postpones 40 billion oil reserves target

Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) has said it seeks to increase the nation’s crude oil reserves to 40 billion barrels and production capacity to four million barrels... Read more »

Sensational reporting affecting power sector investment —NBET boss

Damilola Shittu – Abuja The Managing Director / CEO of Nigeria Bulk Electricity Trading Plc (NBET), Marilyn Amobi, has charged journalists to ensure responsible and balanced reportage of the power sector in... Read more »

Come and invest in our refineries, Kachikwu tells Saudi Arabia

By Oke Peter In its determination aimed at ensuring that Nigerian refineries are functional, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the Federal Government is asking Saudi... Read more »

TCN begins construction of $170m ‘Abuja Feeding Scheme’

The Transmission Company of Nigeria (TCN) has disclosed that it has begun the execution of the $170m power transmission project called the ‘Abuja Feeding Scheme’. The revelations were made by the Managing... Read more »

Firm sues NCDMB, ExxonMobil for local content laws violation

An indigenous oil servicing company in Akwa Ibom State, The Pioneer Divers Int’l Limited, has dragged the Nigeria Content Development and Monitoring Board (NCDMB) to court for alleged breach of local content... Read more »

NERC issues permits to meter providers of four Discos

Damilola Shittu – Abuja The Nigerian Electricity Regulatory Commission (NERC) has issued permits to Meter Asset Providers to provide meters to customers who receive electricity supply from four power distribution companies. According... Read more »

Nigeria’s oil exports threatened as Aiteo declares force majeure

The nation’s crude oil exports have suffered a setback as Aiteo Eastern Exploration and Production Company Limited declared force majeure on Nembe Creek Trunk Line following a fire outbreak. The NCTL, a... Read more »

Oil price hits six-month high of $74

Oke Peter with Agency Report The international oil benchmark, Brent crude, surged on Monday to its highest level since late October 2018 after the United States President, Donald Trump, announced the decision... Read more »

Our cars will be self-driving soon —Telsa

By Michael J. Coren Elon Musk stood up in front of a room of investors today (April 22) to announce the era of the self-driving car had arrived—at least for Tesla. At... Read more »

Malabu oilfield licence, nine others set to expire in 2020, 2021

Ten oil block licences, including the controversial Oil Prospecting Licence 245, held by international and local firms will expire in 2020 and 2021. The Punch has reported. OPL 245, better known as... Read more »

Oil exports: Nigeria slashes selling prices to attract buyers

Nigeria has cut its official selling prices of a basket of May-loading crude oil grades in a bid to attract buyers. The nation’s crude oil has had a difficult time clearing in... Read more »

Texas and its new favourite energy source

By Tim Daiss Wind power capacity in the United States increased by 8 percent last year, soaring to an impressive cumulative total of 96.5 gigawatts (GW), the American Wind Energy Association (AWEA)... Read more »

Easter holiday: Ikeja Electric assures customers of efficient service delivery

In a move that demonstrates its readiness to deliver efficient services to customers, leading Electricity Distribution Company, Ikeja Electric Plc (IE), has assured customers across its network of its commitment to ensuring... Read more »

Portugal Prime Minister to address investors at 21st Africa Energy Forum in Lisbon

Prime Minister of Portugal, His Excellency António Costa, has confirmed to meet investors at the Africa Energy Forum (AEF) at the Lisbon Congress Center, Lisbon, Portugal from 11-14th June 2019. According to... Read more »

Niger begins construction of $167m Kandadji Hydroelectric dam

Construction process of the Kandadji hydroelectric project on the Niger River set to cost US $167m, has been officially launched by President of Niger, Mahamadou Issoufou and works has commenced. President Mahamadou... Read more »

System collapse: Power generation drops to 1,675MW

By Oke Peter The nation’s power generation fell to a record low on Tuesday following the collapse of the national grid on Monday night. Data from the Nigeria Electricity System Operator (NESO),... Read more »

$1.2bn Malabu oil deal: Court orders arrest of Adoke, Etete, others

A High Court of the Federal Capital Territory (FCT) in Jabi has ordered the arrest of two former ministers – Mohammed Adoke (Justice) and Deazia Louya Etete (aka Dan Elete) (Petroleum Resources).... Read more »

Senate bows to President, reviews, passes PIGB …Rejects Bill on Electric Vehicles

Damilola Shittu with Agency Report The Senate, Wednesday bowed to President Muhammadu Buhari’s positions on Petroleum Industry Governance Bill (PIGB) and six others he had vetoed, reviewing and passing them in accordance... Read more »

NNPC’s financial records insufficient for govt oversight —Report

A New York-based Natural Resource Governance Institute (NRGI) yesterday stated that the financial reports of the Nigerian National Petroleum Corporation (NNPC) do not contain systematic financial information that would enable the Federal... Read more »

‘This new Oil hotspot is replacing Venezuelan crude’

By Tsvetana Paraskova The United States sanctions on Venezuela’s oil industry have tightened the global heavy to medium crude oil market, sending oil buyers scrambling for alternatives to the heavy Venezuelan oil.... Read more »

FG shortlists four firms for Afam Power, Yola Disco’s sale

Damilola Shittu – Abuja The Federal Government has given its nod to three firms to proceed with the financial bids opening in the bid to acquire Afam Power Plc, an electricity generation... Read more »

NNPC pays $1.5bn cash call debt to IOCs

Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) says it has reduced cash call arrears owed to international oil companies, its Joint Venture partners, by $1.5bn. The corporation has cash... Read more »

FG seeks $1bn World Bank loan for power sector

Agency Report The Minister of Finance, Mrs. Zainab Ahmed has disclosed that the federal has commenced discussion with the World Bank with a view to take a $1 billion loan for the... Read more »

Construction of US $75m liquefied petroleum gas plant in Kenya begins

Construction of a US $75m liquefied petroleum gas (LPG) plant in Liwatoni area of Mombasa, a coastal city in Kenya, has commenced. According to the Construction Review, the onshore storage and filing... Read more »

TCN implements power transmission project

The managing director of the Transmission Company of Nigeria (TCN), Usman Mohammed, has revealed that the company has begun the execution of a $170 million power transmission project called the Abuja Feeding... Read more »

Nigeria launches first organic waste power plant

Nigeria has launched its first organic waste power-generating plant in the University of Nigeria, the first indigenous university in the country, located South East of the country with the aim of cubing... Read more »

Nigeria’s daily petrol supply hits 56 million litres —PPPRA

Damilola Shittu – Abuja The Petroleum Product Pricing Regulatory Agency (PPPRA) has put the country’s daily supply of Premium Motor Spirit, otherwise known as petrol, at 56 million litres. In a statement... Read more »

South Africa to receive $300m to boost energy and gas projects

South Africa is set to receive the US $300 boost from the Development Bank of Southern Africa (DBSA) and New Development Bank (NDB) after they the signed a loan agreement to facilitate... Read more »

Nigeria mismanaging Excess Crude Account —IMF

The International Monetary Fund has criticised the government of Nigeria for mismanaging the Excess Crude Account and not saving enough for the rainy day. The News Agency of Nigeria (NAN) has reported.... Read more »

Chevron buys Anadarko in $33 billion bet on shale, LNG

Chevron agreed to buy Anadarko Petroleum in a $33 billion bet on the Permian shale-oil region and liquefied natural gas, intensifying a battle with Exxon Mobil to be America’s top energy company.... Read more »

Anxiety as fuel queues return …NNPC, marketers allay scarcity fears

By Oke Peter Filling stations in some parts of Lagos experienced queues on Friday amid a supply hitch that slowed down the distribution of the Premium Motor Spirit (petrol). Our correspondent learnt... Read more »

800 companies bid for 176 gas flare points, says Kachikwu

Efforts of the Federal government to eliminate gas flaring in the country got a boost on Thursday as the Minister of State, Petroleum Resources, Dr Ibe Kachikwu disclosed that over 800 Expression... Read more »

IMF urges Nigeria to remove fuel subsidy

Agency Report The Managing Director, International Monetary Fund (IMF), Mrs. Christine Lagarde, has advised the Nigerian government to jettison spending on fuel subsidy and expend the money on health, education and infrastructural... Read more »

ESQ Energy and Power School: Charting the way forward on viable power projects

By Oke Peter In its determination aimed at ensuring a functional power sector, foremost legal practitioner committed to the promotion of excellence in the Nigerian legal practice, ESQ Legal Practice, recently organised... Read more »

Fuel subsidy, Nigeria’s biggest fiscal burden, says LCCI

Esther Ajibola – Lagos Lagos Chamber of Commerce and Industry, (LCCI), has described fuel subsidy which the World Bank said cost Nigeria N731 billion in 2018, as the biggest fiscal burden currently... Read more »

European Union to launch €30m power finance scheme in Nigeria

The European Union (EU) and All On – an impact finance outfit, would launch a €30 million worth of electrification financing initiative for off-grid and commercial and industrial captive power projects in... Read more »

NDPHC boss Chiedu Ugbo attends AIM2019 in Dubai

By Oke Peter The Managing Director/Chief Executive Officer of Niger Delta Power Holding Company (NDPHC), Mr. Chiedu Ugbo, on Tuesday met with the Chairman of AMEA Power, His Excellency, Hussain Nowais, at... Read more »

China-South Sudan oil deal raises red flags

By Tim Daiss China has long been criticised for imposing massive debt on developing countries as well as securing their natural resources to help them build up infrastructure with funding by Beijing,... Read more »

Shell proposes $15bn five-year investment plan in Nigeria

By Oke Peter The Shell Petroleum Development Company (SPDC) has unveiled a $15 billion investment in the oil and gas sector in the next five years. Its Managing Director, Osagie Okunbor, broke... Read more »

Libya civil war threatens oil supply as oil rises above $71

The international oil benchmark, Brent crude, extended its gains on Monday, rising to a five-month high. Brent, against which Nigeria’s crude oil is priced, hit a high of $70.86 per barrel, with... Read more »

Rwanda, Symbion Power set to construct $200m 56MW power plant

Symbion Power has signed an agreement with the Rwandan government for the construction of a 56 MW power plant on Lake Kivu in the Eastern African nation. The 56 MW power plant... Read more »

211 Nigerian oil blocks remain idle —Report

More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in... Read more »

NERC begins mass metering on May 1

The Nigerian Electricity Regulatory Commission (NERC) will begin mass metering for electricity consumers by May 1, to bridge the metering gaps in the country. Dr Usman Arabi, NERC General Manager Public Affairs... Read more »

Kaduna govt to support AKK Pipeline Project

The Abuja-Kaduna-Kano (AKK) gas pipeline project received a major boost on Thursday as the Kaduna State government pledged to join forces with the Nigerian National Petroleum Corporation (NNPC) to ensure effective optimisation... Read more »

Senate orders Shell to pay N6.9bn to Niger Delta communities

Damilola Shittu – Abuja The Senate has directed the Shell Petroleum Development Company to respect its earlier resolution which mandated it to pay N6, 936,899,900 to some oil producing communities in the... Read more »

FG tasks local firms on IOCs’ divestments, others …Targets 4mbpd oil production

By Esther Ajibola The Minister of State for Petroleum Resources, Ibe Kachikwu has tasked indigenous operators to step up their investments and take over major operations from international oil companies, especially as... Read more »

High business costs weighed on Total Nigeria’s Q4 2018 results review

Total Nigeria’s Q4 2018 earnings of N295m were disappointing. Although sales were up 21 percent y/y, significantly higher cogs and operating expenses weighed on profitability. The operating environment was tough in 2018... Read more »

MYTILINEOS signs new power plant EPC contract in Slovenia

Foremost metallurgy, power and gas projects company, MYTILINEOS SA has announced the signing of a contract with JAVNO PODJETJE LJUBLJANA, Ljubljana’s energy company engaged in electrical and thermal production, transmission and distribution,... Read more »

Dangote refinery ’ll boost Nigeria’s trade balance by $2bn annually —IMF

By Oke Peter The International Monetary Fund (IMF) has said the crude oil refinery being built by Dangote Industries Limited will improve the trade balance by $2bn per year after coming on... Read more »

NERC wins World Bank Award

By Oke Peter Chairman of the Nigerian Electricity Regulatory Commission (NERC), Professor James Momoh, receiving an Award on behalf of the Commission, under the World Bank Category — ‘2019 Doing Business Ranking’... Read more »

Nigeria neglects OPEC quota again, boosts crude oil production

Oke Peter with Agency Report Nigeria has failed to comply with the new quota given by the Organisation of Petroleum Exporting Countries (OPEC) as it produced far in excess of its cap.... Read more »

NNPC expresses commitment to zero gas flare regime

Mayowa Okekale – Abuja The Nigerian National Petroleum Corporation (NNPC) has expressed its commitment to a zero gas flare regime for every new gas project, even as it trains its sights on... Read more »

ExxonMobil considers sale of Nigerian oil, gas fields for $3bn

Nearly two and a half years after exiting Nigeria’s downstream oil sector, ExxonMobil is weighing the sale of some oil and gas fields in the country. The United States-based oil major recently... Read more »

NERC ‘ll ensure quality, affordable services —Commissioner …Tasks journalists on investigative journalism

By Oke Peter The Commissioner, Legal, Licensing and Compliance, Nigerian Electricity Regulatory Commission (NERC), Barrister Dafe Akpeneye has disclosed that NERC would leave no stone unturned at ensuring quality and affordable services.... Read more »

The persistent delay in Ogoni Clean-Up

The restoration of Ogoni land in Rivers State from environmental degradation occasioned by decades of careless oil exploitation in the area has continued to suffer from the customary official lethargy. Almost eight... Read more »

Nigeria spends N10trn on petrol subsidy —Report

By Oke Peter At the backdrop of the continued comatose state of the Nigeria’s local refining capacity, the country may have spent about N10 trillion in the provision of pump price subsidy... Read more »

NNPC partners MOMAN on steady supply of petroleum products

Mayowa Okekale – Abuja Better days are ahead for petroleum products consumers across the Country as the Nigerian National Petroleum Corporation (NNPC) and the Major Marketers Association of Nigeria (MOMAN) exchanged vows... Read more »

Ikeja Electric, SLOT Foundation to empower 40 youths

Leading Electricity Distribution Company, Ikeja Electric (IE), has partnered with foremost mobile phones sales/support services company, Slot Foundation, to train 40 youths on repairs of Phones, Laptops and other mobile devices. The... Read more »

Nigerian crude oil grades get a boost in Europe

Damilola Shittu with Agency Report The narrowing spread between Northwest European diesel and petrol cracks has helped support some Nigerian crude grades which have suffered from a lack of European demand, traders... Read more »

Denham Capital’s backed Themis to develop Kingline power project

Themis, an Africa-focussed power company backed by Denham Capital, has partnered with Kingline Development Nigeria (Kingline) to develop a 550MW natural gas-fired power plant in Ondo State, Nigeria. Themis, an Africa-focussed power... Read more »

EAC to provide 7,480 megawatts of electricity by 2022

The East African Community (EAC) has secured $2.5 billion loan from the African Development Bank (AfDB) to provide an additional 7,480 megawatts (MW) of electricity by 2022. The regional bloc comprises six... Read more »

FG issues 21 hydropower, other licences

The Nigeria Integrated Water Resources Management Commission has issued licences to Nestle Water and Winners Power Gardens companies for water supply and hydropower construction respectively. The Executive Director, Reuben Habu, who confirmed... Read more »

World’s largest EV market loves gas guzzling trucks

While China may be the world’s largest market for electric vehicle sales, Chinese car buyers have a new love affair: pickup trucks. As in the U.S., pickups are ideal for construction, farm,... Read more »

FEC approves N1.4b for DPR building design

Damilola Shittu – Abuja The Federal Executive Council (FEC) meeting yesterday approved N1.4 billion for the design of 12-floor building design for the Department of Petroleum Resources (DPR). The Minister of State... Read more »

Is the nuclear industry abusing subsidies?

By Haley Zaremba Although nuclear is often touted as an ultra-efficient and therefore affordable as well as clean alternative to fossil fuels, some states are beginning to discover that this is not... Read more »

Power problem: Some states have almost 24 hours supply —Fashola

Mr Babatunde Fashola, the Minister of Power, Works and Housing has said that some cities in Nigeria can now boast of constant power supply. He made the assertion on Channels Television’s Sunrise... Read more »

No incentive to increase power generation —Gencos

By Oke Peter As households and businesses continue to lament the nation’s electricity woes, power generation companies in the country have said there is no incentive for them to increase output from... Read more »

NNPC ongoing recruitment enters second phase

Mayowa Okekale – Abuja The Phase One of the ongoing recruitment exercise by the Nigerian National Petroleum Corporation (NNPC) which kicked off via nationwide advertisements in the national dailies and online media... Read more »

Police, power sector most corrupt in Nigeria —Survey

The police in Nigeria have emerged as the most corrupt public institution in the country, according to a new survey released today by Socio-Economic Rights and Accountability Project (SERAP). The News Agency... Read more »

DisCos got N438bn energy revenue in 2018, hit 66% efficiency

The Association of Nigerian Electricity Distributors (ANED) said 10 Distribution Companies (DisCos) reached 66 percent collection efficiency as they collected N438 billion revenue for energy served to consumers in 2018. The Director... Read more »

Six transmission towers vandalised in Delta —TCN

By Oke Peter Electricity supply in Delta State has been threatened following the vandalisation of six towers belonging to the Transmission Company of Nigeria (TCN). In a statement issued in Abuja on... Read more »

Gas flaring: Nigeria loses N302bn in one year

Damilola Shittu – Abuja Gas flaring has continued to take its toll on the Nigerian economy, the environment and the lives of the people of oil-producing communities, as the country lost $987.175... Read more »

Port Harcourt refinery bags Africa’s first ISO 9001:2015 Certification

Port Harcourt Refining Company (PHRC) Limited, a subsidiary of the Nigerian National Petroleum Corporation (NNPC), has attained the International Organization for Standardisation (ISO) 9001:2015 Quality Management System (QMS) certification, the first by... Read more »

Transcorp okays $2.5bn for Nigeria’s power sector

The Transnational Corporation of Nigeria Plc yesterday said it plans to invest $2.5 billion in the power sector to boost power supply across the country. The investment will be made through its... Read more »

Don’t renew licences of oil block owners in Nigeria, Falana warns Buhari

Femi Falana, Senior Advocate of Nigeria (SAN) and human rights lawyer, has urged President Muhammadu Buhari not to renew the licences of oil block owners in the country. Sahara Reporters has reported.... Read more »

Ikeja Electric sets up panel to tackle disputed bills

In a responsive approach to mitigate customer complaints arising from estimated bills, Ikeja Electric has set up a Bill Dispute Resolution Panel (BDRP) across its undertaking offices to help expedite cases of... Read more »

‘Why no one is interested in building EV infrastructure’

By Haley Zaremba Across the United States, gas stations outnumber charging stations for electric vehicles by a ratio of approximately seven to one. Large stretches of highway without charging stations and a... Read more »

Shell increases contractor support fund to $2.4bn …Sign $200m local vendor support with UBA

Shell Petroleum Development Company of Nigeria Limited says it has increased the size of its contractor support fund by $200m in a bid to boost the financial capacity of vendors and suppliers... Read more »

EITI confers highest disclosure status on NNPC

Mayowa Okekale – Abuja The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend... Read more »

Concern as power generation drops from 4,708.3MW to 2,938MW

By Oke Peter The national power grid lost 1,770 megawatts in two days as generation fell below the 3,000MW mark on Friday, the latest data obtained by our correspondent on Saturday revealed.... Read more »

NNPC begins rehabilitation of Port Harcourt refinery …Milan-based Maire Tecnimont S.p.A to revamp 210,000bpd plant

By Oke Peter Nigeria’s effort at ensuring local sufficiency in refined petroleum products was bolstered Thursday with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per... Read more »

OMV turns Austrian Airline’s plastic cups into synthetic crude oil

By Tsvetana Paraskova Amid growing global concern about the overuse of plastic, Austria’s oil and gas group OMV and Austrian Airlines have partnered to turn the plastic cups the airline’s passengers have... Read more »

India stops taking in Venezuelan oil

By Irina Slav A senior United States government official has told Indian media that private local refiners had stopped importing crude oil from Venezuela, noting the cooperation of Indian companies in this... Read more »

Port Harcourt refinery: Our ultimate target is 100% —NNPC GMD, Baru

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, disclosed on Thursday, in Port Harcourt, Rivers State, during the kick-off of the rehabilitation of the Port Harcourt... Read more »

NLNG to sign $1bn Train 7 project local content plan

The Nigerian Content Development and Monitoring Board (NCDMB) and the Nigeria LNG Limited will on Friday (today) sign the Nigerian content plan for the NLNG’s Train 7 project, estimated to cost $1bn.... Read more »

US sanctions, OPEC deal to push oil prices higher —Experts

Supply cuts by the Organisation of Petroleum Exporting Countries (OPEC) and United States’ sanctions against Iran and Venezuela will push the oil market into undersupply and boost the cost of crude in... Read more »

Refineries lost N132bn in 2018 —NNPC

By Oke Peter The operating deficit recorded by the nation’s refineries rose by 39 percent to N132.5bn in 2018, compared to the previous year, data from the Nigerian National Petroleum Corporation (NNPC)... Read more »

Electricity: Why we are not connecting new GENCOs —TCN

With over 90 million households yet to be connected to the national grid, the Transmission Company of Nigeria (TCN), yesterday, disclosed that it has been unable to connect new Electricity Generating Companies... Read more »

UK’s LNG imports jump to highest since 2015

By Tsvetana Paraskova The United Kingdom is on track to import this month its highest volume of liquefied natural gas (LNG) since October 2015, as a wave of new global LNG supply... Read more »

Five firms bid for Afam, Yola power companies

Damilola Shittu – Abuja Five firms have submitted financial and technical bids to purchase a 51 percent stake in the Afam Power Plc – an electricity generation company – and Yola Electricity... Read more »

NNPC records 34% increase in pipeline breaches nationwide …Enjoys ₦12.13bn trading surplus in December

There appears to be no let-up in the activities of vandals who in December last year pushed pipeline breaches across the Country by a whopping 34 percentage point, NNPC Group General Manager,... Read more »

Hydrogen cars struggle to compete with electric vehicles

By Vanand Meliksetian The electrification of most industrialized societies has taken off in a big way. In the EU and China government support such as regulations and subsidies are pushing automakers towards... Read more »

Shell outlines first short-term carbon emission

By Tsvetana Paraskova Royal Dutch Shell has set its first-ever short-term goals to cut the carbon footprint of its operations and product sales as the oil and gas industry is under intense... Read more »

Nigeria’s oil exports face further threat, 30 cargoes unsold

With India signing an agreement to import 0.6 million barrels of oil from the United States, Nigeria’s crude exports could further be threatened if new markets are not explored, a new report... Read more »

Is Nigeria’s energy sector becoming investable?

Full-year 2018 results from Seplat Petroleum Development Co. the indigenous oil and gas company dual-listed in Lagos and London, may have encouraged some investors that the Nigerian energy sector is turning the... Read more »

AfDB pledges $25bn to climate finance

By Oke Peter The African Development Bank (AfDB) will double its climate finance commitment for the period 2020-2025, the Bank’s President, Dr. Akinwumi Adesina announced Thursday. He said the Bank would commit... Read more »

Nigeria, US bilateral trade hit $33bn

Ajibola Esther – Lagos The Nigerian National Petroleum Corporation (NNPC) has disclosed that Nigeria and the United States of America had been very good partners with about $35billion worth of trade between... Read more »

Top US refiner: Venezuela sanctions won’t disrupt refining —Marathon Petroleum CEO, Gary Heminger

By Tsvetana Paraskova – The United States sanctions on Venezuela’s oil industry have not had a significant impact on the operations of the largest U.S. refiner Marathon Petroleum Corp, chairman and chief... Read more »

SWITCH to Green initiatives show how to build sustainable societies

United Nations Environment and the European Union (EU) came together at UN Environment in Nairobi, Kenya today to share insights on SWITCH to Green — a major global initiative that supports governments... Read more »

Buhari orders NNPC to take over operation of OML 11 from Shell

By Oke Peter President Muhammadu Buhari has ordered the Nigerian National Petroleum Corporation (NNPC) to take over the operatorship of the entire Oil Mining Lease 11 from Shell Petroleum Development Company (SPDC).... Read more »

Nigerian oil region crisis threatens Buhari’s economic plans

Fresh from his comfortable re-election, Nigerian President Muhammadu Buhari faces a huge hurdle to keep his vow to end the economy’s addiction to oil: win a lasting peace in the crude-rich Niger... Read more »

Uncertainty trails FID on $4.3bn NLNG Train 7

Eight months after the signing of the Front End Engineering Design contract for Train 7 of the Nigeria LNG Limited, there is still uncertainty as to when the shareholders will take the... Read more »

We must drastically reduce our climate-warming emissions —President, Fourth UN Environment Assembly, Siim Kiisler

Being a text of an address by Mr. Siim Kiisler, President of the fourth UN Environment Assembly and Ms. Joyce Msuya, Acting Executive Director of UN Environment at the opening plenary of... Read more »

European backing for €142 million Gambia renewable energy programme

Access to clean energy in the Gambia is set to be transformed under a new €142 million initiative to harness solar power and supply clean energy across the country, backed by the... Read more »

US slashes imports of Nigerian crude by 43%

By Oke Peter The United States cut its imports of Nigerian crude oil by 48.87 million barrels or 43 percent in 2018, according to the latest data released by the Energy Information... Read more »

East Africa conferences: Ethiopia to launch 2nd National Electrification Program March 27

EnergyNet Limited has announced that the co-located ‘Africa Energy Forum: Off the Grid’, and ‘Regional Energy Co-operation Summit’ meetings taking place in Addis Ababa, Ethiopia between 27 and 29 March will welcome... Read more »

Discos failed to remit N325.54bn in 10 months —NBET

By Oke Peter Power distribution companies in the country failed to remit a total of N325.54bn to the Nigerian Bulk Electricity Trading (NBET) for the electricity sold to them from January to... Read more »

Nigeria to benefit from Azuri technologies £2.5m solar in Africa project

Azuri Technologies, a leader in pay-as-you-go solar in Africa and crowdfunding platform, Energise Africa yesterday announced the latest phase of debt financing from United Kingdom (UK) impact investors to deliver affordable, clean... Read more »

Nigeria’s oil sector to record $25bn investment in two years –NCDMB

Esther Ajibola – Lagos The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has said that next two years promises to be bright for operators in the Nigerian... Read more »

Buhari approves NNPC’s operational budget for 2019

Damilola Shittu – Abuja President Muhammadu Buhari has approved the 2019 operational budget of the Nigerian National Petroleum Corporation (NNPC), the Group Managing Director of e state oil company, Dr. Maikanti Baru,... Read more »

Shell rules out force majeure on oil export after Nembe fire …As Aiteo begins investigation

Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. A force majeure... Read more »

NNPC recovers N771m assets from defaulting marketers

By Oke Peter The Nigerian National Petroleum Corporation (NNPC) on Tuesday announced that it had recovered assets worth over N771 million from some oil marketers who under-paid for petroleum products supplied to... Read more »

Saudi’s $100bn investment in India threatens Nigeria’s oil export

In the wake of growing uncertainty in the price of crude oil, Nigeria faces the challenge of losing its market in Asia as Saudi Arabia has concluded plans to invest $100 billion... Read more »

Oil: OPEC output cut, US/China tariff truce force prices up

Oil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are close to a deal to end a year-long tariff row. International Brent... Read more »

Nigeria’s oil exports drop as Aiteo shuts pipeline

The nation’s crude oil export has suffered a setback following the shutdown of the Nembe Creek Trunk Line, one of the major crude oil transportation channels used for export. The NCTL, which... Read more »

Nigeria’s refineries post N114.3bn loss in 11 months

By Oke Peter Nigeria’s refineries posted a cumulative loss of N114.3 billion in the first 11 months of 2018, the latest industry data have revealed. Figures obtained from the Nigerian National Petroleum... Read more »

African Utility Week, POWERGEN Africa partner CNN

The organizers of African Utility Week (AUW) and POWERGEN Africa, have announced a media partnership with the global news organization and broadcaster, CNN, in the run-up to the event that will hold... Read more »

KenGen gets contract with Ethiopian Electric Power for geothermal drilling

Kenya’s Electricity Generation (KenGen) on Monday, said it secured a multi-million shillings contract to provide geothermal drilling services to state-run Ethiopian Electric Power. The power producer’s contract with East Africa’s largest power... Read more »

Dutch prosecutors target Shell over Nigeria oil deal

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that... Read more »

Scores missing as gas explosion causes panic in Bayelsa community

Scores of persons are still missing in Nembe community, Bayelsa State, after a gas explosion from the Creek Trunk Line operated by the Aiteo Eastern Exploration and Production Company in the community.... Read more »

FG unveils $48bn oil, gas investment opportunities in the UK

To deepen offshore investments in the nation’s oil and gas industry, the Federal Government on Wednesday unveiled Nigeria’s $48 billion investment opportunities available in emerging capital projects expected on stream soon. The... Read more »

AfDB begins electricity cooperative feasibility studies in Nigeria, Ethiopia

The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bank’s goal... Read more »

Nigeria earns N3.72trn from royalties, petroleum tax in one year .Begins fuel import from China

Nigeria earned N3.72 trillion from royalties and petroleum profit tax (PPT), in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, (CBN). The CBN,... Read more »

Africa Energy Forum at 21, announces major rebranding

By Oke Peter The organizer of the longest running meeting for senior level decision makers in African energy, EnergyNet Limited has launched a new brand identity to better represent Africa Energy Forum... Read more »

1.67m electricity customers metered as at Q4 2018 –NBS

The power generation statistics for Q4 2018 reflected that a total average of 68,625 MWh of energy was generated daily by thermal power stations while thermal power stations generated an average of... Read more »

Shell inducts 30 graduates for industry internship

Thirty engineering graduates have been inducted to the fifth batch of the Shell Nigeria internship programme, a four-year old scheme designed to help young graduate engineers upscale their skills in readiness for... Read more »

Nigeria hits oil majors with billions in back taxes

Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could... Read more »

FG plans new finance scheme to bridge oil sector funding gaps

Damilola Shittu – Abuja The Nigerian Content Development Monitoring Board (NCDMB), has announced plans to introduce a new financing scheme to address the gaps witnessed under the Bank of Industry (BoI) funding... Read more »

Buhari backs oil cut by OPEC …Atiku insists on selling NNPC if elected

President Muhammadu Buhari has pledged the cooperation of Nigeria to the reduction of oil output to attract higher prices in the global market. Speaking with Mr Ahmad Qattan, Special Envoy of King... Read more »

ENGIE begins Kathu 100 MW Concentrated Solar Plant in South Africa

ENGIE has announced that a commercial operation was achieved on 30 January, 2019 for the 100 MW Kathu Solar Park in South Africa. This state of the art plant is a greenfield... Read more »

Gas flare commercialisation to attract $3.5bn investments –FG

The ongoing gas flare commercialisation programme of the Federal Government will attract $3.5 billion worth of investments to Nigeria. In a reply to enquiries on the status of the programme, senior officials... Read more »

FG committed to N701bn power generation intervention fund

Damilola Shittu – Abuja The Ministry of Power, Works and Housing has pledged commitment to pay N701 billion Payment Assurance fund to power Generation Companies (GenCos). Reacting to a media report, which... Read more »

FG’s 5,375mw inadequate for electricity consumers —Experts …Propose 180,000mw to meet national demand

Despite the Transmission Company of Nigeria’s (TCN) attainment of 5,375 megawatts, MW peak generation, stakeholders said the nation still has a long way, considering the 180,000 megawatts, MW requirement. The General Manager,... Read more »

Valentine’s Day: Ikeja Electric celebrates with kids at Igbobi Orthopaedic Hospital

It was an atmosphere of joy and excitement at the Children’s Ward of National Orthopaedic Hospital, Igbobi, Lagos (NOHIL), when the staff of leading electricity distribution firm, Ikeja Electric Plc (IE), visited... Read more »

$16bn power project: Buhari vows to probe Obasanjo

President Muhammadu Buhari has vowed to probe the $16 billion spent on failed power project by the administration of former President Olusegun Obasanjo. The News Agency of Nigeria (NAN) has reported. He... Read more »

DisCos dispute 2,000MW stranded electricity as GenCos kick

Damilola Shittu – Abuja The power Distribution Companies (DisCos) have insisted that there is no 2,000 megawatts (MW) stranded in the Nigerian Electricity Supply Industry (NESI) that can’t be delivered. But the... Read more »

Ashaka Cement set to inaugurate N11bn 16MW power plant

Ashaka Cement Company, a subsidiary of Lafarge Africa Plc has unveiled plans to inaugurate a 16-megawatt power plant in order to improve and solve the country’s energy problem. The Managing Director, Ashaka... Read more »

Royalties: FG to revoke licenses of debtor oil firms

By Oke Peter The Federal Government, has warned it would revoke the licenses of oil producing firms that failed to pay up their royalties. Minister of State for Petroleum Resources, Dr Ibe... Read more »

FirstBank, Azuri partner to provide reliable power, deepen financial inclusion in Nigeria

By Alfred Akuki First Bank of Nigeria Limited and Azuri Technologies, a leader in pay-as-you-go solar technology, today announced a unique partnership that will help deepen financial inclusion in Nigeria while bringing... Read more »

Eskom deepens South Africa power cuts as Moody’s Flags Risk

By Colleen Goko, Paul Burkhardt and Prinesha Naidoo South Africa’s debt-laden power utility raced to stabilise the grid by resorting to the most intense supply cuts in four years while Moody’s Investors... Read more »

Uncertainties, security, price to affect Nigeria’s oil sector

The oil and gas sector in Nigeria, particularly upstream, will be affected by policy uncertainties, security, and slump in the price of crude oil, stakeholders have said. Players in the industry, in... Read more »

Nigeria: Oil firms get 12,383 service permits in one year

Oil and gas companies operating in Nigeria got a total of 12,383 service permits in 2018 for the services rendered in the sector. The Punch has reported. The Department of Petroleum Resources... Read more »

2019 elections: Will African countries get investors’ vote?

By Laurie Hammond and Thibaut Hollanders The world, including investors, will keep a close eye on the various national elections to be held in Africa this year. The lead up and aftermath... Read more »

TCN raises $1.62bn for power transmission projects

The Transmission Company of Nigeria said on Thursday that it had raised a total of $1.623bn for power transmission projects across the country. The News Agency of Nigeria (NAN) has reported. The... Read more »

Five killed in South African coal mine gas explosion

Five people have been killed by a gas explosion in an unused coal mine in South Africa’s eastern province of Mpumalanga and several others remain trapped, police said on Thursday. State broadcaster... Read more »

Egbin Power Plant to inject 1,320MW into national grid

Esther Ajibola – Lagos The management of Nigeria’s largest power generation company, Egbin Power Plc, is increasing both technical and engineering works to generate power at installed capacity before end of this... Read more »

Commercialising flared gas in Nigeria (Part 1)

Introduction The Nigerian Gas Flare Commercialization Programme (NGFCP) was launched by President of the Federal Republic of Nigeria, Muhammadu Buhari, in his capacity as the Minister of Petroleum Resources (Minister) on 13th... Read more »

Crude oil production by NPDC increases by 57,000bpd

Crude oil production by the Nigerian Petroleum Development Company (NPDC), the flagship subsidiary of the Nigerian National Petroleum Corporation (NNPC), has increased by 57,000 barrels per day. The NNPC, in its January... Read more »

African Power, Energy and Water Industry Awards to hold in Cape Town

The power and water industries on the continent have responded with enthusiasm to the latest call for nominations for the sixth edition of the annual African Power, Energy and Water Industry Awards... Read more »

Nigeria’s oil revenue rises by 129% to N9.4trn in 2018 …Records N3.4trn deficit

Damilola Shittu with Agency Report Nigeria’s oil revenue shop up by 129 per cent to N9.4 trillion in 2018 buoyed by increased crude oil price. Investigations revealed that average price of Nigeria’s... Read more »

France to double renewables capacity under 10-year energy plan

France plans to double its renewable energy capacity with a system of regular tenders under a draft 10-year energy strategy plan published on Friday. According to Reuters, the so-called PPE plan, which... Read more »

Lightsource BP to build US university solar project

By Susanna Twidale Lightsource BP, Europe’s biggest solar energy developer, will build a 70 megawatt (MW) solar project for Penn State university in Pennsylvania, the company said on Tuesday. The project is... Read more »

ExxonMobil, Qatar Petroleum to proceed with Golden Pass LNG Export Project

ExxonMobil and partner Qatar Petroleum said today they have made a final investment decision to proceed with development of the Golden Pass LNG export project located in Sabine Pass, Texas. Construction will... Read more »

Atiku promises to complete Mambilla Power Project if elected

Nigeria’s former Vice President and presidential candidate of the People’s Democratic Party (PDP) Alh Atiku Abubakar, on Tuesday, promised to complete the Mambilla Dam if elected president in the forthcoming presidential election.... Read more »

NUPENG, PENGASSAN urge Buhari to accelerate PIB assent

By Oke Peter The leadership of Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) and Petroleum and Natural Gas Senior Staff Association (PENGASSAN) has again appealed to President Muhammadu Buhari to... Read more »

Power generation increased by 100% in three years —Fashola •TCN figures contradict minister’s claim

Damilola Shittu – Abuja The Minister of Power, Works and Housing, Babatunde Fashola, has stated that power generation in Nigeria increased by 100 per cent within a space of three years. Fashola,... Read more »

Ministry revokes 4,176 mining titles in 8 years

Damilola Shittu – Abuja The Ministry of Mines and Steel Development said it revoked 4,176 mining titles between 2011 and 2018. The Ministry disclosed this in a report made available to newsmen... Read more »

Oil rises 18% in best January on record

Oil prices gained roughly 18 per cent in January, the largest gain for that month of the year on record. “A break through $55 in WTI and $65 in Brent would be... Read more »

Hungary unveils $70m Bridge Power Project in Ghana

Hungary’s Ambassador to Ghana, András Szabó, has unveiled $70 million worth of power generation investment from Hungary for the first stage of the 400+ megawatt (MW) Bridge Power Project. This investment includes... Read more »

Fourth United Nations Environment Assembly holds in Nairobi March 11

Heads of State, environment ministers, environmental activists and innovators, non-governmental organisations and chief executive officers of multinational companies will once again gather to discuss and make global commitments to environmental protection at... Read more »

Buhari flags off oil exploration in Bauchi

By Esther Ajibola The long awaited dream of oil and gas exploration in the northern part of Nigeria became a reality, yesterday, as President Muhammadu Buhari flagged off the spud-in of Kolmani... Read more »

30 fuel vessels, others stuck on Lagos high sea

The Nigerian Customs Service (NCS) cumbersome documentation process may have delayed about 25 vessels currently stuck on the Lagos high sea, laden with petroleum products, and other goods waiting to berth and... Read more »

The rise and rise of Powering Africa Summit

By Oke PeterIn its determination to make a difference in the world’s dwindling energy resources and tackling energy poverty, EnergyNet Limited United Kingdom has been proffering workable solutions through generation of ideas,... Read more »

FG targets $2bn from oil, gas lease licence renewal …Says there’s need to concession NNPC refineries –ICRC DG

Damilola Shittu – Abuja The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, yesterday said the Federal Government was targeting about two billion dollars from oil and gas lease licences renewal.... Read more »

Another petrol tanker explosion causes disaster in Lagos

Oke Peter with Agency Report No fewer than two persons and five vehicles were burnt on Wednesday morning at Barracks Bus Stop, along Mile 2 on Badagry Expressway after a 33,000 litre... Read more »

Another EV giant enters the battery business

German auto maker giant Volkswagen has just upped its bet on electric vehicles (EVs) by announcing it will begin manufacturing batteries and charging stations for those cars, which the company plans to... Read more »

ExxonMobil to proceed with new crude unit as part of Beaumont Refinery

ExxonMobil said today that it has reached a final investment decision and started construction on a new unit at its Beaumont, Texas refinery that will increase crude refining capacity by more than... Read more »

Samsung sets new record in Nigerian content, trains female welders

Esther Ajibola – Lagos In line with its belief that the future of Nigeria should be in Nigerian hands, Samsung Heavy Industries (SHI) has set a new record on Nigerian content in... Read more »

Political crisis in Venezuela to reshape OPEC

By Cyril Widdershoven The political power struggle in Venezuela is heating up, and there seems to be no real solution on the horizon yet. The surprise move by Venezuela’s opposition leader Juan... Read more »

Dangote explains investment in refinery, petrochemicals

By Oke Peter The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the... Read more »

Oil blocks renewal: Experts raise concerns over 42 leases

Despite recent assurance by the Federal Government that there were no irregularities in the ongoing renewal of over 42 oil licences, stakeholders in the oil and gas sector, yesterday, raised the alarm... Read more »

Suspected vandal suffers burns while stealing electric cables

A suspected vandal, Saifullahi Sa’idu, of the Kadangaru Quarters, Dutsin-ma Local Government Area of Katsina State, is now in police custody after suffering serious burns while allegedly attempting to steal cables from... Read more »

Egypt set to build one of the world’s largest solar parks

By Sean Fleming At a site in the Western Desert, some 650 kilometre south of Cairo, one of the world’s largest and most ambitious solar energy projects is underway. The Benban Solar... Read more »

Aramco to build first hydrogen fueling station

By Irina Slav Saudi Aramco, in partnership with United States Air Products and Chemicals, will build the first hydrogen fuel cell station in the Kingdom, leveraging Air Products’ SmartFuel hydrogen fueling technology,... Read more »

Hybrid power solutions market to cross $60bn by 2024

By Prajakta Khandagale The hybrid power solutions market is forecast to register its name in the billion-dollar fraternity down the line of six years, by exceeding a revenue of $55 billion by... Read more »

No irregularities in oil block licence renewal —DPR, MPR

Oke Peter with Agency Report The Department of Petroleum Resources and the Ministry of Petroleum Resources have said there are no irregularities in the ongoing renewal of oil and gas leases. A... Read more »

World Economic Forum: Oil industry considers options to combat climate change, investors’ pressure

When the global oil industry held its biggest annual gathering this week in the Swiss town of Davos, it invited banking bosses and fund managers to discuss two key topics – climate... Read more »

The most important oil factor in 2019

By Nick Cunningham The oil market is heading towards rebalancing this year, most analysts seem to think, with OPEC+ production cuts, combined with a potential slowdown in U.S. shale eating away at... Read more »

Oil prices rise over turmoil in Venezuela

Oil prices rose by more than one percent on Friday as turmoil in Venezuela triggered concerns that its oil exports could soon be disrupted. Reuters has reported. Washington on Thursday, signalled it... Read more »

Environmental laws record growth despite weak enforcement —UNIPCC

The first-ever global assessment of environmental rule of law finds weak enforcement to be a global trend that is exacerbating environmental threats, despite prolific growth in environmental laws and agencies worldwide over... Read more »

Ikeja Electric begins electronic tagging of poles to enhance operations

In its determination to further optimise operations through adequate maintenance of installations and reduction of downtime, Nigeria’s leading electricity distribution company, Ikeja Electric Plc (IE), has commenced the electronic tagging of electricity... Read more »

‘Willing-buyer, willing-seller arrangement will solve Nigeria’s power challenges’

The Federal Government has declared the willing-buyer- willing-seller policy as one of the surest steps to addressing Nigeria’s power challenges. The Guardian has reported. Vice President, Professor Yemi Osinbajo, noting that power... Read more »

CNOOC announces 2019 business strategy, development plan

CNOOC Limited today announced its business strategy and development plan for the year 2019. The Company’s net production target for 2019 is 480 million to 490 million barrels of oil equivalent (BOE),... Read more »

Reps pass bill criminalising estimated billing

Esther Ajibola – Abuja A bill seeking to amend the Electric Power Reform Act, prohibit and criminalise estimated billing of consumers passed the third reading at the House of Representatives on Tuesday.... Read more »

DPR generates N1.3tn revenue in 2018 –Official

By Oke Peter Mr Mordecai Ladan, Executive Director, Department of Petroleum Resources (DPR) says the organisation generated N1.3 trillion as revenue and additional 200 million dollars from legacy indebtedness in 2018. Ladan... Read more »

Refinery: PENGASSAN calls for revocation of licences

4 mins ago 0 8 0 The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged government to revoke the licences issued to non-practising companies and individuals on modular... Read more »

Egypt to invest $9bn refineries’ upgrade over four years —Minister

Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, the petroleum minister said. “We... Read more »

NNPC partners African Transportation Union to halt cross-border leakages

The Nigerian National Petroleum Corporation (NNPC) has sought effective collaboration with members of the African Union of Transportation and Logistics Organisation to halt incidents of cross-border leakages of petroleum products. The corporation... Read more »

Our Concentrated Solar Power has the world’s highest storage hours —Cerro Dominador CEO, Fernando Gonzalez

Fernando Gonzalez is the Chief Executive Officer (CEO) of Cerro Dominador, a Concentrated Solar Power (CSP) Photovoltaic Plant in Chile, Latin America. He has over 20 years experience in the power industry,... Read more »

BBOXX secures $31m for expansion into Kenya, Rwanda and Congo

By Kimani Chege United Kingdom renewable energy company, BBOXX, has landed a USD 31 million financing deal with Africa Infrastructure Investment Managers (AIIM) to expand operations in East Africa. Also, 10 million... Read more »

55% of electricity consumers lack meters —NERC

More than five years after the nation’s power sector was privatised, 55 per cent of electricity consumers are still being subjected to estimated billing. The Punch has reported. The Nigerian Electricity Regulatory... Read more »

World Bank launches $50bn for climate change

The World Bank Thursday, unveiled its approved Action Plan on Climate Change Adaptation and Resilience covering a period of five years. Under the plan, the bank will ramp up direct adaptation climate... Read more »

Saudi Arabia set to build oil refinery in South Africa

By Paul BurkhardtSaudi Arabia is in talks to build an oil refinery in South Africa as part of a pledge to invest as much as $10 billion in Africa’s most developed economy.... Read more »

Like in Nigeria, 20 Mexican oil pipeline thieves die in fire

Stealing fuel from oil pipelines appears not to be a peculiar Nigerian habit. It is also a problem in Mexico, where the theft cost the government about $3 billion in 2018. The... Read more »

DisCos disconnect 1,205 premises under high-tension power lines —NEMSA

Damilola Shittu – Abuja Between June 2018 and January this year, power distribution companies have disconnected a total of 1,205 premises that were constructed under high-tension power lines across the country, the... Read more »

Refineries want access to loan

Eko Refinery and Petrochemical Company has appealed to the Federal Government to support local refiners with sovereign guarantees loans for the completion of their modular refineries. The News Agency of Nigeria (NAN)... Read more »

Ikeja Electric warns public against activities around power lines …Restates commitment to safety of lives and property

In a renewed commitment to its high safety standards, Nigeria’s leading electricity distribution company, Ikeja Electric Plc (IE), has warned the public under its network against building structures and engaging in social... Read more »

NNPC generates N2.6tr revenue …Records increase in pipeline vandalism

The Nigerian National Petroleum Corporation (NNPC) on Tuesday said total revenues generated from the sales of white products for the period October 2017 to October 2018 stands at ₦2.684 trillion, while petrol... Read more »

11 investors bid for Ajaokuta steel

Eleven companies have indicated interest to operate the troubled Ajaokuta Steel Company but the federal government was not yet ready to hand over the facilities. The News Agency of Nigeria (NAN) has... Read more »

Tension as Gencos threaten to shut down power plants

By Oke Peter Electricity generation companies in the country have said they will be forced to shut down their power plants if the challenges facing them are not addressed. The Association of... Read more »

No budgetary provision for 3,050MW Mambila project —Fashola

Damilola Shittu – Abuja There is no budgetary provision for the construction of the 3,050 megawatts Mambila hydropower project, the Federal Government declared on Sunday. The government said the claims that the... Read more »

No need for extraordinary OPEC meeting, says Saudi oil minister

By Irina Slav There is no need for the Organisation of Petroleum Exporting Countries (OPEC) to schedule an extraordinary meeting before April, Saudi Arabia’s Energy Minister, Khalid al-Falih, told media, as quoted... Read more »

Morocco-Nigeria gas pipeline: Penspen chosen to conduct Front-End Engineering study

Morocco’s state-owned Company “Office National des Hydrocarbures and des Mines (ONHYM) and Nigerian National Petroleum Corporation (NNPC) have chosen Penspen to carry out the 1st phase of the FEED (Front-End Engineering) of... Read more »

FG completes construction of eight multi-million dollar power plants

Nigeria has successfully completed 8 multi million power plants under the Federal Government’s National Independent Power Project (NIPP) with an aim of increasing electricity generation in the highly populated country. According to... Read more »

Samsung targets future opportunities in Nigeria after $3.3bn Egina FPSO success

With the successful completion of the Egina Floating Production Storage Offloading (FPSO) unit and the achievement of First Oil in the facility, Samsung Heavy Industries, along with partners, could be justified in... Read more »

19 firms conduct due diligence on Afam Power, Yola Disco

Nineteen prospective investors are currently conducting due diligence on Afam Power Plc and Yola Electricity Distribution Company, The PUNCH has learnt. While seven of the companies are currently examining the data on... Read more »

NNPC, DPR, stakeholders mull new measures to sanitise oil sector

By Oke Peter Stakeholders in the nation’s oil and gas sector on Thursday, in Abuja, called for collaborative measures to end sharp practices that could undermine safety of lives, investments and properties... Read more »

NNPC to crash price of cooking gas

The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of propane and butane which are major components in the production of Liquefied Petroleum... Read more »

22 Nigerian academics conduct research in Shell programme

Twenty-two members of the academia from 12 Nigerian universities have begun research attachments at The Shell Petroleum Development Companies of Nigeria (SPDC), in several fields of study in the latest phase of... Read more »

Electric Jaguar I-Pace voted Norway’s ‘Car of The Year’

By Bennett OghifoThe all-electric Jaguar I-PACE has been awarded Norwegian Car of the Year 2019. Eight expert jurors voted for Jaguar’s first electric vehicle (EV) against eight other finalists, including the Volvo... Read more »

GenCos accuse NERC of crippling power sector

Damilola Shittu – Abuja Executive Secretary of the Association of Power Generation Companies (APGC), Dr Joy Ogaji, on Tuesday, in Abuja said the investment made by operators, especially power generation firms, was... Read more »

JP Morgan says payments to Libya Oil-Fund Fixer weren’t bribes

By Jonathan Browning JPMorgan Chase & Co. acknowledged that Bear Stearns made millions of dollars of payments to a friend of the son of Libyan dictator Moammar Al Qaddafi around the time... Read more »

Power: Greenlight Planet targets 30m Nigerians by 2030

Greenlight Planet, a solar home energy company, said it has delivered clean energy to more than two million individuals in Nigeria, while focusing on rapid innovation of its product and distribution strategy.... Read more »

We generated over $2bn from oil block licences to fund 2019 budget —Kachikwu

Oke Peter with Agency Report Nigeria’s Minister of State for Petroleum Resources, Mr Ibe Kachikwu, has said the Federal Government generated over $2 billion from the renewal of oil block licences. The... Read more »

ExxonMobil begins drilling Haimara-1 exploration well offshore Guyana

ExxonMobil said today that it has begun drilling the Haimara-1 exploration well offshore Guyana, the first of two planned wells in January. The Stena Carron drillship is drilling the well, which is... Read more »

Obaseki inspects 55 MW CCETC/Ossiomo Power Plant in Edo

Edo State Ggovernor, Godwin Obaseki yesterday inspected progress of work and equipment at the 55 Megawatts CCETC/Ossiomo Power plant facility in the state. The plant is located at Ologbo on Benin-Sapelr road... Read more »

Nigeria loses N197bn to gas flaring in nine months —Report

Oil and gas firms operating in the country flared a total of 215.9 billion standard cubic feet of natural gas in the first nine months of last year, amounting to a potential... Read more »

Militants blow up Conoil facility in Bayelsa

Oke Peter with Agency Report A Niger Delta militant group, known as the Koluama Seven Brothers, has blown up a crude oil pipeline owned by Conoil in Bayelsa State. The group launched... Read more »

FG to spend N1.149trn on petrol subsidy in 2019

Damilola Shittu – Abuja A sum of N1. 149, 385 trillion is estimated to go into the payment of subsidy on petrol imported into the country this year. With the provision of... Read more »

Iran bracing for economic contraction as oil exports crumble

By Julianne Geiger Iran’s Parliament Research Center is predicting negative growth for Iran in the current fiscal year that ends March 20 due to its falling exports, Radio Farda reported on Friday.... Read more »

CSR: Eko Disco donates food items to orphanages

The General Manager, Corporate Communications, Eko Electricity Distribution Company (EKEDC), Mr Godwin Idemudia, said the company distributed food items to orphanages in 10 districts within its network. Idumudia said on Thursday, in... Read more »

Oil cargoes from Nigeria, others to US plunge

Damilola Shittu with Agency Report Crude oil cargoes leaving for the United States from Nigeria and other members of the Organisation of Petroleum Exporting Countries (OPEC) dropped in December to the lowest... Read more »

The next big step in oil and gas tech

By Irina Slav The oil industry, it seems, has gone all-in on digital technology, having gotten an early taste of how much various solutions can influence its cost discipline and bottom lines.... Read more »

India Nigeria’s biggest trading partner, buys N719.2bn of crude

India was Nigeria’s biggest trading partner in the third quarter of 2018, gulping N719.2 billion of crude and N37.7 billion of natural gas exports from the country. India also bought cashew nuts... Read more »

Moreira Franco wins Petroleum Economist’ ‘Minister of the Year’ award

Brazil’s Mines and Energy Minister, Moreira Franco, has emerged the winner of the Petroleum Economist’ ‘Minister of the Year’ award. The Petroleum Economist Award was created in 2014. Energy Ministers from around... Read more »

Petrol subsidy hits N2.43bn daily as NNPC takes over calculation from PPPRA

The task of determining the daily consumption and subsidy on petroleum products has been taken over by the Petroleum Products Marketing Company (PPMC), a subsidiary of the Nigerian National Petroleum Corporation (NNPC).... Read more »

Nigeria: Total’s Egina Field begins production

Total has started up production on December 29, 2018 from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At plateau, the Egina... Read more »

Crude oil production recorded 9% increase in 2018 —NNPC

By Oke Peter The Nigerian National Petroleum Corporation (NNPC) on Tuesday said daily crude oil production recorded an upward swing of about 2.09million barrels in the outgone 2018. The increase, which translates... Read more »

We wish our clients a prosperous New Year

We appreciate your patronage: EnergyNet UK; Power Nigeria; Federal Ministry of Power; Future Energy Nigeria; Centre for Agriculture & Climate Change; UNDP; FCMB; NNPC; Ikeja Electric; EKEDC; Total Nigeria; Shell; Abuja Disco;... Read more »

Oil prices close higher on last day of 2018

Oil prices climbed on the last trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first yearly decline in three years amid lingering... Read more »

‘Nigeria is the only producer of high-voltage cables in West Africa’

In the whole of West Africa, Nigeria is the only producer of high-voltage cables and the sixth country to adopt the technology in the Africa. The Managing Director, Coleman Wires and Cables... Read more »

Decision to privatise is a matter of policy and policies take time to take effect –Fashola

The Minister of Power, Works and Housing, Babatunde Raji Fashola, has call for consistency and understanding in the privatized power sector, saying decision to privatize is a matter of policy and policies... Read more »

Is solar growth really lagging?

By Haley Zaremba Solar makes sense. It’s cost efficient, it’s eco-friendly and has no carbon footprint, electricity is generated in the same grid where it is consumed, and the price of installing... Read more »

NNPC records trading surplus of N9.85bn

The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure which is higher than the previous month’s deficit of ₦3.90 billion.... Read more »

World’s largest floating LNG platform begins production in Australia

Royal Dutch Shell said on Wednesday it has begun output at its Prelude Floating Liquefied Natural Gas facility in Australia, the world’s largest floating production structure. It is also the last of... Read more »

NNPC reserves three billion litres of PMS for Yuletide

Damilola Shittu – Abuja Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Monday assured of uninterrupted supply of fuel during the Christmas and New Year celebrations... Read more »

Oil magnate Otedola to sell Forte Oil shares, exit fuel business

The Chairman of Forte Oil Plc, Mr Femi Otedola, has announced his decision to sell all his shares in the firm’s downstream business. The Punch newspaper has reported. This is coming more... Read more »

Wishing our esteem readers a Merry Christmas!

Read more »

Controversy trails $5.8bn Mambilla Power Project, as Chinese investor stalls funding

The $5.8bn Mambilla hydropower project, a 3.05GW hydroelectric facility that is to be developed on the Dongo River near Baruf in Kakara Village of Taraba State has suffered a setback which will... Read more »

UK pledges £100m to renewable energy projects in Africa

By Simone RenschThe UK has pledged £100m extra funding to renewable energy projects in Africa giving hundreds of thousands access to electricity, the government has announced. This triples the funds for the... Read more »

Gas production: Shell announces FID on project

Shell Petroleum Development Company of Nigeria Limited (SPDC) has announced the Final Investment Decision (FID) on the Assa North Gas Development Project in Imo State, the News Agency of Nigeria (NAN) has... Read more »

Swiss close to revealing Nigerian beneficiaries of $1.1bn Malabu oil bribes

Materials in a suitcase seized nearly three years ago by Swiss authorities may unlock the identities of the Nigerian recipients of the $1.1 billion in corrupt payments by Shell and ENI over... Read more »

Financial flow from oil, gas sector drops to $17.05bn in 2016 –NEITI

The Nigeria Extractive Industries Transparency Initiative (NEITI) says that total financial flows from Nigeria’s oil and gas sector reduced to $17.05 billion in 2016, indicating a 31 per cent decline on the... Read more »

Between Gencos, TCN and Discos

The blame game over the electricity shortage across the country continued last week when government accused Electricity Distribution Companies (Discos) of low investment in their networks. Minister of State for Power, Works... Read more »

Total to launch oil exports from new Nigerian field February

By Tsvetana Paraskova Just as the Organisation of Petroleum Exporting Countries (OPEC) and partners will have started the new round of production cuts to reduce oversupply, France’s Total is set to begin... Read more »

FAAC: Shocker as $1.68bn is withdrawn from ECA in 3 weeks

Oke Peter with Agency Report The Federal Account Allocation Committee (FAAC) rose from its last meeting in 2018 with a startling disclosure that the Excess Crude Account (ECA) crashed from $2.319 billion... Read more »

Ikeja Electric expands network maintenance to ensure stable supply during yuletide

The management of Ikeja Electric (IE) has announced the expansion of network patrol teams and field operations preemptive maintenance across its network to ensure customers have an enjoyable yuletide. In a statement... Read more »

Nigeria, others need $250bn investment to resolve power deficit —NERC boss

  To resolve the power deficit situation in Africa and reach the United Nations’ (UN) target of Universal Access by 2030, the continent will need to add around 250GW capacity, which will... Read more »

Shell Bonga attains 800m barrels oil production

Esther Abiola – Lagos In 13 years of deep-water exploration, the Bonga vessel of the Shell Nigeria Exploration and Production Company (SNEPCo) has produced over 800 million barrels of crude oil. In... Read more »

Malabu Scam: Eni, Shell aware of corrupt payments, Judge rules

An Italian judge, Giusy Barbara, found out on Monday that Eni and Royal Dutch Shell were fully aware that their 2011 purchase of Nigeria’s Oil Prospecting Lease (OPL 245) would result in... Read more »

Manufacturers spend N43bn on alternative energy —Report

Oke Peter with Agency Report With electricity supply, particularly from the distribution companies remaining at an average of nine hours a day in the first half (H1) of 2018, local manufacturers’ expenditure... Read more »

Huge desert solar initiative to make Africa renewable power-house

The details of the “Desert to Power Initiative” have been outlined as part of the Paris Agreement climate change talks at COP24 in Katowice, Poland last week.Energy poverty in Africa is estimated... Read more »

Zambia denies China taking over power company over debt

Zambia has denied the fake news by a US official that China is about to take over its state power utility to recover $6-10 billion debt, noting the utility was never provided... Read more »

Subsidy: FG pays oil marketers, freezes interest on loan

Mr Henry Ikem-Obih, Chief Operating Officer, Downstream, Nigerian National Petroleum Corporation (NNPC) says the Federal Government has paid the agreed N236 billion as first tranche of the outstanding subsidy claims to oil... Read more »

Nations agree rule book on Paris Climate treaty

Delegates from nearly 200 countries on Sunday finalised a common rule book designed to deliver the Paris Climate treaty goals of limiting global temperature rises to well below two degrees Celsius (3.6... Read more »

$12m LPG plant ready 2019 –GEIL

Damilola Shittu – Abuja Barring the unforeseen, the $12 million Liquefied Petroleum Gas plant (LPG) currently under construction in Ikuru in Rivers State, by Green Energy International Limited (GEIL), operator of Otakikpo... Read more »

Nigeria’s first gold refinery on stream

Nigeria’s first gold refinery being built by Kian Smith Trade & Co Limited is billed to be completed by the end of June next year.There was already a significant monthly supply of... Read more »

Nigeria saves $1bn through crude oil, refine products exchange

Nigeria has so far saved over $1 billion through the application of the Direct Sales, Direct Purchase (DSDP) agreement, the architect of the system, Engr. Salihu Garba Aliyu has said. The Nation... Read more »

Shell, Eni face $1.1bn Nigerian lawsuit over 2011 oil deal

The government of Nigeria is suing Royal Dutch Shell, Eni and othotherer companies for more than $1 billion over a 2011 oil deal it says was tainted by corruption. According to the... Read more »

PTDF to leverage NNPC, NCDMB capacity to boost R&D

Nigeria’s Petroleum Technology Development Fund (PTDF), has said it would leverage existing in-country capacity available at the Nigerian National Petroleum Corporation (NNPC), and Nigerian Content Development Monitoring Board (NCDMB), to address the... Read more »

ExxonMobil donates $50,000 to Family Compass to build healthy families

Darren Woods, ExxonMobil chairman and chief executive officer, presented $50,000 to Family Compass today to further the organization’s goals of ending child abuse and neglect. The grant marks the 13th annual ExxonMobil... Read more »

NCDMB unveils list of profitable vessels for Nigerian shipowners

The Nigerian Content Development and Monitoring Board has identified the types of vessels that local operators in the shipping business should purchase that can guarantee good business and return on investment. The... Read more »

Recipients of UN Climate Action Award honoured in Poland

Fifteen game-changing initiatives in fourteen countries were honoured as winners of the United Nations Climate Action Award at a special ceremony at the UN Climate Change Conference (COP 24) in Katowice, Poland,... Read more »

COP24: Leading international organisations commit to climate neutrality

Today, at the United Nations Climate Change Conference (COP 24) in Poland, 15 international organisations jointly announced a commitment to make their operations climate neutral. The organizations will measure their greenhouse gas... Read more »

$44bn Aramco/ADNOC Indian mega refinery delayed

By Tsvetana Paraskova  The commissioning of a mega refinery and petrochemical complex worth US$44 billion and involving Saudi Aramco and ADNOC has been pushed out by two years to 2025, a top... Read more »

Total grooms 1,000 Rivers pupils in English Language

The Total E & P Nigeria Limited (TEPNG) recently sponsored quiz, spelling and comprehension competition for over 1,000 primary five and six pupils as well as students at the junior secondary school... Read more »

A solar tech flying under the radar

By Haley Zaremba Solar energy is no longer a cutting-edge technology. The public is well-acquainted with the sight of solar panels dotting the rooftops of their cities, and the sight is only... Read more »

Will Mexico choose oil over clean energy?

By Haley Zaremba On Tuesday, just days after president Andrés Manuel López Obrador took office in Mexico, the Mexican government announced that it would be suspending a scheduled auction of long-term, clean-energy... Read more »

DAPPMAN suspends depot closure, gives FG five-day ultimatum

Damilola Shittu – Abuja The Depot and Petroleum Products Marketers Association of Nigeria has suspended its earlier directive to shut down depots nationwide and has given the Federal Government a five-day grace... Read more »

Avoid panic buying, NNPC urges Nigerians

Damilola Shittu – Abuja Despite threats by petroleum depot owners to shutdown operations if their unpaid N800 billion subsidy claims were not cleared, the Nigerian National Petroleum Corporation (NNPC) says it has... Read more »