Friday March 27th, 2015
Friday March 27th, 2015
Latest

Nigeria, others, have world’s worst energy access — Report

  /   in Energy 6:30 am   /   Comments

economy

Nigeria and other countries of the Sub-Sahara African region have the world’s worst access to electricity, the International Energy Agency, IEA, said in its latest report.

Read More →
Latest

Shell lists challenges undermining transformation success

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

Abuja — As robust as Federal Government’s current transformations in the energy sector may appear, the Shell Group has identified a number of challenges undermining the success of the reforms.

Read More →
Latest

AFDB commits $200m to coal-to-power

  /   in Energy   /   Comments

File Photo

ABUJA — In its determination to deepen the development of renewable energy, the African Development Bank, AFDB, has offered to provide a support to the tune of about $200 million towards the growth of coal-to-power projects in Nigeria.

Read More →
Latest

Operators call for resolution of PIB, NOSDRA bills conflicts

  /   in Energy   /   Comments

Oil spill in the river

ABUJA — Industry stakeholders have called for a thorough amendment of the National Oil Spill Detection and Response Agency, NOSDRA Bill currently before the National Assembly, to remove any conflict between it and the Petroleum Industry Bill, PIB.

Read More →
Latest

Access Bank tasks local companies on good governance

  /   in Energy   /   Comments

The surest way indigenous oil and gas operators or any company operating in Nigeria can continue to have support from the banks is by instituting a culture of good corporate governance, while also pooling resources together.

Read More →
Latest

Chevron, others invest in eradication of tuberculosis in Nigeria

  /   in Energy   /   Comments

doctors1

Chevron Nigeria Limited, its affiliate, Star Deep Water Limited and partners in the Agbami project, have further increased their investment in the eradication of tuberculosis in the country to boost sound healthcare delivery in Nigeria, with the donation of a fully equipped chest clinic to Katsina state.

Read More →
Latest

Chinese firm to set up $50m steel plant

  /   in Energy   /   Comments

ABUJA — A Chinese firm, Tongyi Allied Mining Limited, said it planned to set up a $50 million steel smelting plant in Nasarawa State.

Read More →
Latest

Vandalism: Why NNPC, NLNG adopt community-based strategies

  /   in Business, Energy 5:25 pm   /   Comments

NNPC Towers, Abuja

In a bid to nip the growing scourge of pipeline vandalism in the bud, the Nigerian National Petroleum Corporation, NNPC, and Nigerian LNG Limited, NLNG, have resolved to involve the various communities in their areas of operation to provide security for their infrastructure.

Read More →
Latest

World coal demand to reach 9bn tonnes annually – Report

  /   in Business, Energy   /   Comments

File Photo

World demand for coal over the next five years is expected to increase exponentially breaking the 9-billion-tonne level by 2019, the International Energy Agency, IEA, said in its report.

Read More →
Latest

Nigeria loses N8bn to gas pipeline vandalism

  /   in Energy 7:30 am   /   Comments

Gas pipeline

Nigeria has lost a minimum of N8.04 billion since January, to the incessant vandalism of the country’s gas pipelines, according to the Nigerian Gas Company, NGC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC.

Read More →
Latest

Nigeria to account for 60% power investment in W/Africa

  /   in Energy   /   Comments

Electricity-new

Nigeria is expected to account for about 60 percent of the projected investments in power in the West African sub-region by 2040, the International Energy Agency, IEA, has said.

Read More →
Latest

NCDMB tasks Petrolog on capacity building

  /   in Energy   /   Comments

Fuel-dispenser

To foster capacity building in the nation’s petroleum industry, the Nigerian Content Development Monitoring Board, NCDMB, has charged the management of Petrolog Group to adopt one of the tertiary institutions in order to integrate the youths in marine engineering and allied disciplines.

Read More →
Latest

Statoil to delay development of Johan Castberg, Snorre projects

  /   in Energy   /   Comments

Statoil ASA and its respective partners have reported the post ponement of the development of both the Johan Castberg and Snorre 2040 field projects to cut costs.

Read More →
Latest

US running out of room to store oil, gas

  /   in Energy 8:04 pm   /   Comments

crude-oil-pipe-702x336-436x336

The U.S. has so much crude that it is running out of places to put it, and that could drive oil and gasoline prices even lower in the coming months.

Read More →
Latest

Power: How vandals constrained generation to 4,500MW— Minister

  /   in Energy 12:58 am   /   Comments

Minister-of-Power-Prof.-Chinedu-Nebo-

The Federal Government has expressed grave concerns over the sustained vandalism of gas pipelines, noting that the incidents have constrained gas supply to power plants and held generation at less than 4,500 megawatts, MW. The Minister of Power, Prof. Chinedu Nebo, who stated this while speaking at an event in Abuja, regretted that once the power generation was approaching 5,000MW, the vandals struck and brought it down to about 3,000MW

Read More →
Latest

NERC issues licences to companies to generate 590MW

  /   in Energy   /   Comments

powerpix-new

The Nigerian Electricity Regulatory Commission has issued two on-grid licences to KVK Power Nigeria PVT Limited, and Aluminium Smelter Company of Nigeria, ASCON Plc to generate 590 megawatts, MW, of electricity from solar and gas respectively. The Commission in a statement issued last week in Abuja, explained that KVT Power would be located in Yabo, Sokoto State, adding that the firm had met the requirements for the granting of 50MW on-grid generation licence with no objection received from the general public to its application.

Read More →
Latest

‘Falling oil price may not affect $3.8bn Egina project’

  /   in Energy   /   Comments

oil platform

THE current economic impact of global downtrend in the prices of oil that is already taking its toll on key sectors of the Nigerian economy may not have adverse effect on the country’s Egina oil platform project valued at $3.8 billion. The project was awarded by Total E&P Nigeria to Samsung Heavy Industries, with a mandate to integrate a Floating Production Storage and Offloading, FPSO platform at the LADOL base in Lagos, as the local content partner.

Read More →
Latest

Nigeria’s gas demand to hit 10bcf — NNPC

  /   in Energy   /   Comments

gas

The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that Nigeria’s domestic gas demand will rise to about 10 billion cubic feet, bcf, per day within the next five years, from current demand of about two billion cubic feet per day. Group Managing Director of the NNPC, Mr. Joseph Dawha, was quoted in a statement by the Corporation as saying that the increased demand will be driven by the growth in the country’s power sector.

Read More →
Latest

Lower oil price’ll not stop rise of solar panels

  /   in Energy   /   Comments

*PSC Solar generator

New analysis from Frost & Sullivan indicates that lower oil prices will not stop the “dazzling rise of solar photovoltaic.” In a release, the firm indicated that lower oil prices would have an impact on petrol prices and manufacturing costs, but would also have implications on the power generation sector – coal, gas, nuclear, hydro, wind, solar, bioenergy, grid modernization, energy storage and microgrids.

Read More →
Latest

Learn to cut prices in dwindling sector, service providers told

  /   in Energy   /   Comments

NNPC Towers, Abuja

Service providers in the oil and gas industry should learn how to cut costs in the face of dwindling resources in the sector, if they desire to remain afloat.This is as the Nigerian National Petroleum Corporation, NNPC, said it is committed to promoting local capacity in the sector.

Read More →
Latest

Forensic Audit: Alison-Madueke declares NNPC’s accounting most transparent

  /   in Energy   /   Comments

Diezani Alison-Madueke

Despite various allegations of financial impropriety levelled against the Nigerian National Petroleum Corporation, NNPC, on a continuous basis, the Federal Government has defended the Corporation, saying it is the most transparent organisation in terms of its processes and accounting. Speaking in an interview in Abuja, the Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, said the NNPC is today more transparent than it has ever been over the last 25 years.

Read More →
Latest

Petrolog acquires ocean diving vessel

  /   in Energy   /   Comments

Bonga oil field ...alleged source of the massive spill

Oil service giant, Petrolog Group, has acquired an ocean diving support vessel to boost its operations and advance the local content policy of the Federal Government, thereby setting the pace in its area of operations. The brand new 100 per cent Nigerian flagged, ABS classed Dynamic Positioning, DP2, dive support system vessel, which is currently in Nigerian waters is the largest indigenous owned vessel in its class and is capable of providing diving, offshore construction and field support.

Read More →
Latest

Scarcity mars FG’s ‘Kero Correct’ initiative lConsumers express frustration

  /   in Energy   /   Comments

Oil spill in the river

Four weeks after the Nigerian National Petroleum Corporation, NNPC launched its kero correct project, aimed at making kerosene available to all corners of the country, the exercise appears to have been marred by non-availability of the product. This is as Nigerians, who had expressed relief with the seeming reduction in price are frustrated by their inability to access the product.

Read More →
Latest

Europe set for LNG supply surge after premiums top Asia

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

Europe is luring twice as many liquefied natural gas (LNG) tankers as last year and more are expected in what is now the premium-priced market after a year-long demand slump in Asia. In just a week, seven new LNG tankers embarked for Belgian, British and Dutch ports and six more may arrive in the next month, attracted by the widest and most consistent premium to Asian prices in at least five years, price data on Reuters Eikon shows.

Read More →
Latest

Petrol marketers induce fuel scarcity

  /   in Energy 1:46 am   /   Comments

Abuja-Scarcity

There are indications that petrol marketers are out to inflict hardship on Nigerians by hoarding the product six weeks to the general elections. This may not be unconnected with the apparent cold war between marketers and the management of the Petroleum Products Pricing Regulatory Agency, PPPRA.

Read More →
Latest

Oil prices to experience partial rebound — IEA report

  /   in Energy   /   Comments

CRUDE-OIL

Global oil prices will recover only partially from spectacular lows, which are unlikely to spur economic growth or kill off United States, U.S. shale gas production, the International Energy Agency, IEA, has said.

Read More →
Latest

Oil price fall: MOMAN cautions against panic

  /   in Energy   /   Comments

CRUDE-OIL

Major Oil Marketers Association of Nigeria, MOMAN, has called on Nigerians not to panic, as the crude oil price will still rise again.

Read More →
Latest

Eaton vows to drive energy growth in Nigeria

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

Eaton, a United States power management company said it is out to drive energy growth in Nigeria’s emerging economy.

Read More →
Latest

Nigerian content: Egina attracts $1bn investment — Nwapa

  /   in Energy   /   Comments

refinery1

The Nigerian Content Development and Monitoring Board, NCDMB, said that over $1bn has been invested in the Nigerian oil and gas industry to create capacity and execute Nigerian Content scopes provided on the Egina deep water project.

Read More →
Latest

Oando rig achieves 5 years without lost time

  /   in Energy   /   Comments

Oando Energy Services Limited, OESL, an Oando Plc subsidiary and operator of swamp drilling rigs services, said it has successfully achieved five years of continuous operations without Lost Time Injury, LTI, on its flagship rig, OES Teamwork.

Read More →
Latest

Shell restates commitment to Bonga South West/Aparo project

  /   in Energy   /   Comments

The Shell Nigeria Exploration and Production Company Limited, SNEPCo, has restated its commitment to the implementation of the SNEPCo-operated Bonga South West/Aparo, BSWA project. It therefore denied recent reports that it has stopped the development due to the slump in oil price.

Read More →
Latest

Price slump: Nigeria prone to uncompetitive investment — Report

  /   in Energy 12:54 am   /   Comments

oil2

Analysts at ARM Research have projected that the slump in the prices of crude oil in the international market will make Nigeria uncompetitive for investments in 2015.The analysts, in their report titled, “Oil Stains on Economic Growth Picture,” also projected further crisis regarding Nigeria’s fiscal savings, saying that state governments will resist any attempt to save some money in the Excess Crude Account, or Sovereign Wealth Fund.

Read More →