Friday October 31st, 2014
Friday October 31st, 2014
Latest

FG grants energy firms N20bn waivers

  /   in Energy 2:25 am   /   Comments

Electricity-new

The Federal Government granted about N19.662 billion in waivers and exemption to energy firms in the country in five months, between January and May 2014.

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Latest

Ghana to cut gas import from Nigeria

  /   in Energy   /   Comments

gas tanks

Ghana has announced plans to significantly reduce the quantity of gas it purchases from Nigeria in the next couple of months through increased local gas production.

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Latest

Power supply: Instability suffocates polymer industries

  /   in Energy   /   Comments

*A major power grid

The incessant poor electricity supply experienced over time in Nigeria has left polymer industries in comatose, Mr. Joseph Imanah, National President of Polymer Institute of Nigeria, PIN, said.

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Latest

Rights group condemns neglect of host communities

  /   in Energy   /   Comments

*Oil Vandals

An international organisation, Global Rights, has slammed the Federal Government over the Mineral and Mining Act by not protecting and providing basic amenities for host communities.

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Latest

Vandalism can increase risk in oil price instability — NAPE

  /   in Energy   /   Comments

*Oil Vandals

The Nigerian Association of Petroleum Explorationists, NAPE, has called for stricter sanctions on oil vandals, if the target in production of crude in the country has to be met.

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Latest

NERC gives Discos ultimatum to meter customers

  /   in Energy   /   Comments

Nigerian Electricity Regulatory Commission, NERC, has given the distribution companies, Discos, two weeks within which to provide electricity consumers whose meters are yet to be delivered months after payment with the products.

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Latest

FG inaugurates committee on Ogoniland

  /   in Energy   /   Comments

OIl spill

The Federal Government has established a Multi-stakeholder Consultative Committee aimed at fast tracking the environmental restoration of Ogoni land, as proposed in the United Nations Environment Programme, UNEP Report.

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Latest

Oil prices: Save for rainy days, expert tells govt

  /   in Energy   /   Comments

A refinery

The impact of the falling oil prices may not be felt much on the Nigeria economy, if the government imbibed saving culture, said Mr. Bekuochi Nwawudu, the Director of CBO Capital, a Lagos-based investment advisory and project development.

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Latest

CASE FOR LEGALISATION OF ILLEGAL REFINERIES: We can make petrol sell below N97 per litre – Titi Governor

  /   in Energy 12:16 am   /   Comments

oil-suspects

Activities of operators of illegal refineries have been blamed for the drastic drop in crude oil production. Illegal refining and crude theft have grown beyond the Niger Delta. To stop the trend, several billions of Naira has been expended to secure pipelines and fight oil bunkerers.

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Latest

Nigeria, sub-Saharan Africa, account for 30% global oil discoveries

  /   in Energy 1:54 am   /   Comments

Africa

Almost 30 percent of global oil and gas discoveries made over the last five years were in sub-Saharan Africa, reflecting growing global appetite for African resources, the World Energy Outlook Special Report said.

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Latest

India to pay Iran $500m next week

  /   in Energy   /   Comments

Indian refiners will pay $500 million to Iran next week, the second installment in an interim deal that allows Tehran to recover part of overseas frozen oil revenues that are payments for oil it has sold, two industry sources said in Friday.

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Latest

Minister tasks Abuja Disco on power supply

  /   in Energy   /   Comments

electricity

The Minister of Power, Prof. Chinedu Nebo, has charged the Abuja Electricity Distribution Company, AEDC, to urgently address the epileptic power supply in the entire Federal Capital Territory, FCT, Abuja and its environs.

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Latest

Nigeria earns N69bn from LPG sales

  /   in Energy   /   Comments

Offshore gas facility

Nigeria earned about N68.957 billion from lifting Liquefied Petroleum Gas, LPG, for both export and domestic consumption in 2013, the Nigerian National Petroleum Corporation, NNPC, has revealed.

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Latest

Lagos flags off energy academy

  /   in Energy   /   Comments

Lagos-Oil

Lagos State Governor, Babatunde Fashola, has formally commissioned the Lagos Energy Academy, to groom electricity professionals while inducting the first batch of its students.

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Latest

FG signs MoU with 3 power companies

  /   in Energy   /   Comments

*The Federal Government has failed on its promise to achieve the target of 6,000 Mega Watts (MW) of electricity generation last December

The Federal Government has signed Memoranda of Understanding, MoU, with three power firms – 3D Hitech System Ltd, SEPCOIII Electric Power Construction Corporation, and CGC Nigeria Ltd, with a view to boosting generation, distribution, and supply in Nigeria.

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Latest

FG ready to declare power transition market

  /   in Energy   /   Comments

Electricity-new

After being postponed for a number of times, the Federal Government has indicated strong readiness to declare the commencement of the Transitional Electricity Market, TEM.

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Latest

Nipco identifies workers as key to success

  /   in Energy   /   Comments

refinery-7

Nipco Plc, an integrated indigenous operator in the nation’s oil and gas industry, has identified its staff as a key component in its success story since it commenced commercial operations in 2004.

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Latest

Why Afren CEO was sacked

  /   in Energy 12:54 am   /   Comments

dollars

Facts have emerged that failure by the Chief Executive Officer, CEO, of Afren Plc, Mr. Osman Shahenshah, to report the company’s $400 million payment to Oriental Energy Resources, OER, may have led to his sack.

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Latest

PPMC exports N117bn fuel oil in one year

  /   in Energy 1:24 am   /   Comments

Gas Pipeline

The Pipelines and Product Marketing Company, PPMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, exported 1.33 billion litres of petroleum products, valued at N116.672 billion in 2013.

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Latest

Lagos educates residents on energy conservation

  /   in Energy   /   Comments

Electricity-new

As part of activities marking the 2014 Energy Conservation Month, the Lagos State Government has embarked on a community sensitisation road show to educate people on how to conserve energy.

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Latest

Nigeria needs 6.5m pre-paid meters in five years — Onyema

  /   in Energy   /   Comments

gas tanks

Techno Gas and Power, a subsidiary of Techno Oil Limited has hinted that Nigeria’s power sector needs at least 6.5 million prepaid meters to meet the energy needs of electricity consumers and help investors in the sector recoup their investment.

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Latest

Forcados Terminal records 14-year export safety milestone

  /   in Energy   /   Comments

Gas pipeline

The Forcados Terminal operated by the Shell Petroleum Development Company, SPDC-operated Joint Venture in the western Niger Delta recently recorded a 14-year safety operation in oil exports.

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Latest

Aiteo acquires Shell’s OML 29, Nembe pipelines

  /   in Energy   /   Comments

refinery 7

The Aiteo Group has finally confirmed the acquisition of 85 per cent equity in Oil Mining Lease, OML 29, being divested by the Shell Petroleum Development Company, SPDC.

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Latest

Tanker drivers explain suspension of strike in Rivers

  /   in Energy   /   Comments

Standstill at Mile-2 to Tincan, along Oshodi-Apapa expressway yesterday. Photo: Joe Akintola, Photo editor.

The Petroleum Tanker Drivers, PTD, branch of the National Union of Petroleum and Natural Gas, NUPENG, said it has directed its members currently on strike to suspend the two-week industrial action following the intervention of some relevant authorities.

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Latest

Angola to overtake Nigeria as highest crude producer by 2016

  /   in Energy 12:40 am   /   Comments

File Photo: Crude Oil

Angola will overtake Nigeria as the largest crude oil producing country in Africa by 2016, the International Energy Agency, IEA, declared yesterday.

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Latest

WAGPCo shares pipeline with gas shippers

  /   in Energy 12:34 am   /   Comments

A refinery

The West African Gas Pipeline Company, WAGPCo, said it has opened its pipeline to be accessed by independent gas shippers to maximize the asset potential, which has remained underutilised for years.

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Latest

Nigeria loses N78bn to crude, petroleum products theft

  /   in Energy 8:52 am   /   Comments

*Oil Vandals

Nigeria lost N77.87 billion worth of crude oil and other petroleum products in 2013, the Nigerian National Petroleum Corporation, NNPC, has revealed.

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Latest

DPR to sanction marketers for adulteration, under-dispensing

  /   in Energy   /   Comments

Fuel-dispenser

The Department of Petroleum Resources, DPR, the regulator of the nation’s petroleum industry, said it will sanction petroleum marketers who engage in the manipulation of their pumps and adulteration of products.

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Latest

First Bank to fund Kaztec’s $1.3bn Addax contract

  /   in Energy   /   Comments

rom left: Group Head Energy, First Bank Plc, Mr. Olalekan Adelekan; Chief Finance Officer, Chrome Group, Mr. Nixon Alanza; Group Managing Director/Chief Executive Officer, First Bank,  Mr. Olabisi Onasanya; and Project Manager Kaztec Engineering Ltd, a subsidiary of Chrome Group, Mr. Kingsley Nnodu,  when the First Bank team visited Chrome’s Fabrication Yard at the Snake Island, in Lagos.

First Bank Plc has expressed willingness to support the funding of a $1.3billion fabrication contract by Kaztec Engineering, a subsidiary of the Chrome Group, awarded by Addax Petroleum.

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Latest

FG to establish 1,000MW coal power plant in Enugu

  /   in Energy   /   Comments

File Photo

The Federal Government has announced plans to establish a 1000 mega watts coal power plant in Enugu state.

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Latest

We are dying of hunger — NUP, Electricity sector

  /   in Energy   /   Comments

Electricity-new

The Nigerian Union of Pensioners, Electricity Sector, Rivers/Bayelsa Chapter has protested against the non-payment of their arrears and pension for over nine months.

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Latest

Shell campaigns against building on gas pipelines

  /   in Energy   /   Comments

refinery-7

Shell Nigeria Gas, SNG, has alerted members of the public on the dangers of encroaching on the pathway of gas pipelines in a campaign targeting its business areas in Ogun, Rivers, and Abia states.

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