Monday May 25th, 2015
Monday May 25th, 2015
Latest

Streamline electricity tariff to reflect actual consumption, MAN urges Buhari

  /   in Energy, News 12:23 am   /   Comments

Buhari

The Manufacturers Association of Nigeria (MAN), yesterday, urged the incoming government to streamline electricity tariff to reflect the actual consumption by the industries instead of the current use of estimated bills. The president of MAN, Dr. Frank Jacobs, made this call at the media luncheon held at MAN’s house, adding that, if the electricity tariff is streamlined, it will drive further improvement in power supply and create a special electricity tariff lines for heavy users of electricity like steel, cement and other strategic sub-sector.

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Fashola to commission Candel’s agrochemical plant

  /   in Energy, News   /   Comments

Buhari

Lagos State Governor, Mr. Babatunde Fashola will tomorrow commissioned Candel Company Limited’s integrated manufacturing facility for crop protection chemicals and foliar fertilizers at the Lekki Free Zone, Lagos. Candel Company Limited, which is an agricultural inputs development and distribution company, said that the multi-billion naira project, which is in its first phase, when completed will deliver a facility with capacity for 80 million litres of formulated products per annum.

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Indorama, OIS partner on $130m port terminal

  /   in Energy, News 12:50 am   /   Comments

Port-Terminal

INDORAMA and OIS, said they planned to build a world-class port terminal complex estimated at over $130 million, about N25.7 billion at the Onne Port, Port Harcourt, in Rivers state. In its latest in-house publication made available to Vanguard, the Managing Director/CEO, Indorama-Nigeria, Mr. Manish, said that the port complex will be used for exporting of dry bulk Urea fertilizer from Indorama’s fertilizer plant.

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Mining: Group seeks involvement in developing sector

  /   in Energy, News   /   Comments

Sand mining

ABUJA- THE Nigerian Mining and Geosciences Society, NMGS, has expressed readiness to be part of the effective development of the nation’s mineral resources as the incoming government takes over leadership of the country soon. This was made known by President, NMGS, Prof. Olugbenga Okunlola, at a press conference held in Abuja. Okunlola said with the society’s membership of over 6,000, this enormous human resource will add value in the harnessing of the abundant mineral resources in the oil and gas, solid minerals, metallurgical, geotechnical, water and environmental sectors of the economy.

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Operators call for intervention on costs cut, CBN dollar policy

  /   in Energy, News   /   Comments

*Diezani

OPERATIONS in Nigeria’s oil and gas industry have cried out against a recent directive by the international oil companies, IOCs, compelling them to cut project costs by at least 30 per cent to cushion the effects of the slump in global oil prices. They have equally complained about recent Central Bank of Nigeria, CBN policy against the dollarisation of in-country services, as a way of strengthening the falling value of the Naira, saying that both policies are inimical to their survival.

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Vandalism: Sambo urges protection of power facilities

  /   in Energy, News   /   Comments

Vice President Sambo

HOST communities of power stations have been told to protect such installations against vandals so as to reap the benefits for which the projects were built. Vice President Namadi Sambo gave the charge last weekend at the commissioning of the 330/132/33kv at Oke-aro, a border line community between Lagos and Ogun states, built under the National Integrated Power Project, NIPP, of the Niger Delta Power Holding Company, NDPHC.

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Oil glut worsens as OPEC market share battle begins – Report

  /   in Energy, News   /   Comments

Alison-Madueke, Petroleum Minster

NiGERIA may find it difficult to finance the 2015 budget going by the impending global oil glut. At a benchmark of $65 per barrel, it will be hard to fulfill its budgetary obligations due to the dwindling revenue occasioned by the oil glut. According to the International Energy Agency, IEA, a global oil glut is building as the Organisation of the Petroleum Exporting Countries, OPEC kingpin, Saudi Arabia, pumps near record highs in an attempt to win a market share battle against stubbornly resistant U.S. shale production.

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OTC: Cautious optimism, commendation trail participation

  /   in Energy, News   /   Comments

Offshore gas facility

PARTICIPANT at the just concluded Offshore Technology Conference, OTC, in Houston, Texas, have expressed cautious optimism at the level of attendance by Nigerians to the conference, regarded as the biggest oil and gas event in the world. The Managing Director of Kaztec Engineering Limited, Mr. John Niezner, said that though the low oil prices may have affected the attendance, focus should be on how to reduce cost in the industry.

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GE completes Shell’s subsea tree refurbishment …Achieves 40% growth

  /   in Energy, News   /   Comments

* Lekki model sea port

GE Oil & Gas said it has completed the first refurbishment of subsea production trees for Shell Nigeria Exploration and Production Company, SNEPCo at its service base in Onne, Rivers State. The feat, reputed as the first-of-its-kind to be done in Nigeria, highlights GE’s commitment to investing in Nigeria and demonstrating the high-value services offered to its customers.

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FG reiterates commitment to regulate use of explosives

  /   in Energy, News   /   Comments

Bauchi State Commissioner of  Police, Alhaji Mohammed Ladan briefing newsmen on the suicide bomb attack on harvest field church in Yelwan, bauchi on sunday (3/6/12) beside is a detonated bomb discovered at the blast scene. NAN Photo

ABUJA- THE Federal Government has reiterated its commitment to the regulation for the use of explosives in mining activities by operators in the sector. The reassurance was made by the Minister of Mines and Steel Development, Mr. Musa Sada, while delivering a keynote address at the Stakeholders Forum on the Draft Explosives Act and Regulations held in Abuja. Sada said that the ministry deemed it necessary to convey the meeting to take stock of views and inputs by stakeholders in the mining industry on the Explosives Act, as it concerns new provisions for export, use, and security of explosives.

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Universal Energy commences commercial oil production at Stubb Creek

  /   in Energy, News   /   Comments

oil platform

UNIVERSAL Energy Resources Ltd said it has commenced crude oil production from its Stubb Creek Field in Akwa Ibom State. The development followed the approval to embark on delivery of oil through the ExxonMobil’s Qua Iboe Terminal, which came on stream in early February 2015.

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Ethiopia’s electric power coverage reaches 55%

  /   in Energy, News   /   Comments

nuclear-power

Addis Ababa — The Ethiopian Electric Power (EEP) said that electric power coverage in Ethiopia has now reached 55 per cent from only 17 per cent 24 years back. EEP External Public Relations Director, Miskir Negash, said that the coverage rose significantly during the past years owing to the due attention given by the ruling party- The Ethiopian People’s Revolutionary Democratic Front (EPRDF).

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The power sector and the incoming Buhari administration (2)

  /   in Energy, News 12:20 am   /   Comments

Buhari-oil

There are many power sector projects that are being executed by the Niger Delta Power Holding Company, NDPHC. Over the years, the public had been told to expect improvements in the power supply available on the national grid and these improvements were to come from NDPHC projects. The NDPHC has as its owners the Federal Government, FGN, the State Governments, and the Local Governments. The NDPHC projects are collectively described as the National Integrated Power Projects, NIPP.

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Mixed reactions trail proposal to sell 30% JV assets

  /   in Energy, News 12:30 am   /   Comments

POWER-EQUIP

MIXDD reactions have followed the advice given by Governor of the Central Bank of Nigeria, CBN, Mr. Godwin Emefiele, to the President-elect, Gen. Muhammadu Buhari, over the sale of about 30 per cent out of the 55 percent stakes held by the Federal Government in Nigeria’s Joint Venture, JV operations with international oil companies, IOCs, to enable the new government raise funds for developmental purposes.

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NPL: Sterling Bank grants energy firms N253bn … As Conoil struggles to pay N19.5bn

  /   in Energy, News   /   Comments

*A major power grid

Sterling Bank exposures to energy firms in a two year period between 2013 and 2014 stood at also N253.33 billion. The development comes as Conoil Plc, one of the beneficiaries of the loans struggles to pay off about N19.5billion borrowed from the bank during the period, thereby reinforcing the Central Bank of Nigeria, CBN’s fears over the huge debts owed Nigerians banks.

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PIB: Legislators have failed Nigerians — Okwuosa

  /   in Energy, News   /   Comments

nuclear-power

The Executive Chairman of Oilserv Limited, an indigenous oil service group, Chief Emeka Okwuosa, has accused the legislators of failing in their responsibilities to Nigerians and the country by deliberately refusing to pass the Petroleum Industry Bill, PIB, which is meant to boost the fortunes of Nigeria’s petroleum economy. Okwuosa, who spoke to journalists on the sidelines of the just concluded Offshore Technology Conference, OTC 2015, in Houston Texas, spoke against the backdrop of the fact that the PIB has remained at the National Assembly for over a decade without being passed into law.

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Nebo, Elumelu, others listed as drivers of Africa’s power sector

  /   in Energy, News   /   Comments

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

THE successes recorded in Nigeria’s electricity reform process have been recognised by stakeholders in the African power sector, as the Minister of Power, Prof. Chinedu Nebo; Chairman, Heirs Holdings, Mr. Tony Elumelu, and other chief executives were listed among ‘ESI Most Influential Figures of African Power’, by ESI-Africa, a power journal.

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Katsina 10MW wind farm attains 98% completion — FG

  /   in Energy, News   /   Comments

power plant

ABUJA: The Federal Government disclosed last weekend that the 10 mega watt, MW, Katsina wind farm has attained 98 percent completion. The Permanent Secretary, Ministry of Power, Amb. Godknows Igali, who said this in Abuja noted that the test running of the 37 turbines in the facility had since begun with five already successfully test-run. He also said the transmission line for the evacuation of the power to be produced is ready through the Transmission Company of Nigeria, TCN, as confirmed by their officials.

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Mines Sector: President-elect urged to consolidate on success

  /   in Energy, News   /   Comments

Buhari-oil

ABUJA- THE President-elect, Gen. Muhammadu Buhari (rtd), has been urged to consolidate on the success recorded in the mines sector as he takes over leadership of the nation on May 29. Speaking on expectations from the solid minerals sector, the Managing Director, Promethean Resources, Mr. Demola Gbadegesin, said it will be good for the sector if the incoming administration continued with the development and attraction of investors into the nation’s mining business.

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Chinese firm to establish meter assembly plant in Calabar

  /   in Energy, News   /   Comments

prepaid-meters

ABUJA: A Chinese company, Skyrun Meter Solution, said it has completed plans to establish an electricity smart-meter in the Free Trade Zone, FTZ, in Calabar, the Cross River State capital. This development was one of the fruitful results of several Memoranda of Understanding, MoUs, signed between the Ministry of Power and some Chinese companies since the successful privatisation of the power sector by the outgoing administration.

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BUHARI GOVT: Eyeing Lagos template to solve power crisis

  /   in Energy, News 6:50 am   /   Comments

LIGHT-of-B

OVER the years, the issue of power generation has been Nigeria’s biggest problem. Since the advent of the Fourth Republic in 1999, power has been in the front burner, without an end to the problem. Past administrations proffered solutions to tackling the hydra in the power sector but have virtually failed in this regard. Interestingly, politicians have had to dwell more on providing solutions to this during electioneering campaigns.

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How to make Nigeria’s electricity work’

  /   in Energy 9:12 am   /   Comments

Power

A Renewable Energy expert, Prof. Sylvester Egwu, has advised the President-elect, Gen. Muhammadu Buhari, to tackle the epileptic power supply in the country by dismantling all generators in Aso Rock Villa. He also urged Buhari the President elect to order the Power Holding Company, PHCN, and Distribution Companies, DISCOs, to give the Villa power supply to save huge money spent on generating sets.

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Nebo meets Gencos, Discos over worsening power supply

  /   in Energy   /   Comments

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

Abuja: Worried by the worsening state of electricity supply nationwide, the Minister of Power, Prof. Chinedu Nebo, has met the owners of generation and distribution companies with a view to finding a solution. The meeting, which held in Abuja is coming on the heels of additional generation capacity occasioned by the recent commissioning of two National Integrated Power Projects, NIPPs, in Alaoji and Olorunsogo.

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Oil workers are operating under great risk —Shell

  /   in Energy, News   /   Comments

*Oil rig

Despite efforts by the Joint Task Force in the Niger Delta code-named, Operation Pulo Shield, to stem crude oil theft and pipeline vandalism in the delta, oil companies operating in the blighted region are still operating under grave danger. The oil industry is not only troubled by the activities of thieves and vandals, but also have to contend with activities of armed criminal gangs, who are always on the prowl to snatch oil workers with a view to demanding ransom from their employers.

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Digital oilfield offers new model for production optimization

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

Technology continues to evolve at a record pace, causing oil and gas producers to increasingly rely on a secure, robust communication network to support exploration, production, and wellhead operations. Transitioning to a digital oilfield is paramount for these companies to help realize and establish an effective connected enterprise and continue to drive innovation both offshore and onshore.

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Nigeria’s Tin: catalyst for industrialisation

  /   in Energy   /   Comments

*File Photo: Activity at a vandalised oil pipe

The key thing missing is the investment to follow and actually enter the sector. What we need now are more investors like ourselves to move and take advantage and develop the opportunities with the backing of government. This is an area government should step in to play more aggressive roles by identifying the serious players and boosting them to become champions in different sectors.

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Social investment, key to sustainable development – Shell

  /   in Energy   /   Comments

The International headquarters of Royal Dutch Shell, Netherland.

Shell Companies in Nigeria, SCiN, have identified social investment as key to sustainable development of the Niger Delta region and fast track the economic growth of the country. In line with its corporate social responsibility, CSR, the Groupis work with government, communities and civil society to implement programmes that have a lasting impact on lives in the Niger Delta and beyond.

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NDPHC board re-jigs management ahead of Phase 11 start off

  /   in Energy   /   Comments

nuclear-power

The Niger Delta Power Holding Company (NDPHC) board has advised the general public to disregard reports insinuating that the board was making spirited attempts to make hurried appointments ahead of May 29 for a promised seamless handover by the present administration. This was contained in a statement signed by Mr Yakubu Lawal, General Manager, Communications and Public Relations of the company.

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Don’t be deterred by dwindling crude price: foreign investors told

  /   in Energy, News   /   Comments

crude-oil-pipe-702x336-436x336

Despite the instability in the price of crude in the international market, insurance operators have appealed to foreign investors not to be deterred from investing in and doing business with Nigerian insurance industry because the sector is well structured. According to these operators, series of transformation programmes have been ongoing in the insurance sector which have helped to structure the industry very well.

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Crazy bills: NERC calls for consumers’ coalition to tackle operators

  /   in Energy   /   Comments

Solar powered community water project at Uturu Abia State

The Nigerian Electricity Regulatory Commission, NERC has called on electricity consumers to be organised and challenge the operators in the sector in order to effectively address complaints arising from electricity tariff setting, metering and billing by power firms. The Chairman, NERC, Dr. Sam Amadi, who stated this in Abuja during the inaugural meeting of the Nigerian Electricity Consumer Advocacy Network, noted that there is need for consumer advocacy organisation in the system.

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Power: Nigeria to expect tougher times head …as Egbin delivers 300MW

  /   in Energy 8:28 am   /   Comments

Geregu power

Following the significant decline in power supply witnessed across the country in the last couple of days and the untold hardship it has brought upon Nigerians, there are indications that the power situation is far from improvement. Vanguard learnt that power generation had dropped from 3,000 megawatts to about 2,988.72MW. In a telephone interview with Vanguard, Chief Executive Officer, Egbin Power Plc, Mr. Mike Uzoigwe, said Egbin plant produced 300 megawatts, as against the expected 1000 megawatts it needs to deliver to Nigerians.

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Energy firms borrow N548bn from UBA

  /   in Energy   /   Comments

Energy-Pix-3-gas_processing

United Bank for Africa Plc’s (UBA) exposure to the energy sector stood at N548.35 billion for two years, 2013 and 2014. According to the information obtained from bank’s Annual Report and Accounts for the 2014 financial year, the energy sector accounted for 27.26 per cent of its total loans and advances to customers in the two year period. Specifically, in 2014, energy firms borrowed N287.88 billion from the bank, while in 2013, they borrowed N260.479 billion.

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