Friday August 1st, 2014
Friday August 1st, 2014
Latest

Sharp practices: Eko DISCO develops code of conduct

  /   in Energy 12:45 am   /   Comments

electricity

Eko Electricity Distribution Company, EKEDC (Eko Disco) said it has developed a new code of conduct for its staff, warning that it will not hesitate to sanction any of its personnel engaged in unethical conducts, especially against its customers.

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Latest

FG lauds Nigerian content achievements

  /   in Energy   /   Comments

refinery1

The Federal Government has commended the achievements of the Nigerian Content Development and Monitoring Board, NCDMB, within its four years of existence, describing the agency as a major contributor to the transformation agenda of President Goodluck Ebele Jonathan.

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Latest

NERC explains revision of fixed charges

  /   in Energy   /   Comments

electricity-NIGERIA

The Nigerian Electricity Regulatory Commission, NERC, has said the order to revise the conditions for the fixed charge was made in response to complaints by electricity customers on irregular supply with agitations on the cost of providing such service, arising from the MYTO 2.

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Latest

ALSCON: BPE absolves Russian investor of asset-stripping

  /   in Energy 12:09 am   /   Comments

The National Council on Privatisation (NCP)’s Fact-Finding Committee on Aluminum Smelting Company of Nigeria (ALSCON), has said that the allegation of asset stripping against UC Rusal–owners of the company was untrue as ALSCON’s machines and structures were intact.

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Latest

Nigeria earns N475bn from India, Netherlands, Brazil in one month

  /   in Energy 12:51 am   /   Comments

File Photo: Crude Oil

Three countries – India, the Netherlands, and Brazil, spent $2.97 billion, about N475.08 billion in the purchase of crude oil from Nigeria in the month of February 2014, data released from the Nigerian National Petroleum Corporation, NNPC, has revealed.

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Latest

IKEDC deploys N1bn for system upgrade

  /   in Energy   /   Comments

Solar powered community water project at Uturu Abia State

The Chief Executive Officer, CEO of Ikeja Electricity Distribution Company, IKEDC, Mr Abiodun Ajifowobaje, said that over N1 billion had been deployed to drive various projects within the company.

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Latest

FG tasks firm on embedded generation in South-East

  /   in Energy   /   Comments

Electricity-new

The Federal Government has challenged the Genesis Electricity Company, to take advantage of the enormous gap in energy need of industries especially in the area of embedded power generation to light up the South-East zone.

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Latest

Northern Nigeria gets N3.4bn EU grant for solar, wind farms

  /   in Energy   /   Comments

Small-Business222

ABUJA: The Federal Government has explained that a chunk of N3.4 billion grant by the European Union, EU, will be used to boost renewable energy specifically solar and wind farms in the northern part of the country.

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Latest

Nigeria’s offshore rig count reduces by 7

  /   in Energy   /   Comments

Oil-Report

Apparently influenced by the diminishing global rig count and the cash crunch being experienced by the Nigerian National Petroleum Corporation, NNPC, in the execution of its joint venture projects, Nigeria’s rig count reduced by seven in June 2014, the International Association of Drilling Contractors, IADC said.

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Latest

Nigerians to control 50% of domestic gas market — Seplat

  /   in Energy 12:26 am   /   Comments

oil-gas

Going by the wave of divestments in the Nigerian oil and gas sector, half of the domestic gas market will be in the hands of Nigerians by 2018, Mr. Austin Avuru, Managing Director, Seplat Petroleum has said.

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Latest

Why fuel subsidy must go — NNPC

  /   in Energy   /   Comments

SUBSIDY-EXPRESS

The Nigeria National Petroleum Corporation, NNPC, has said the only way to encourage investors to build more refineries in the country, is to create favourable business environment through deregulation of the downstream sector.

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Latest

We don’t have $218m to remit — NNPC

  /   in Energy   /   Comments

USDollar

The Nigeria National Petroleum Corporation, NNPC, has absolved itself of owing the Federal Government the sum of $218 million oil revenue.

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Latest

Rivers plans investment in oil sector

  /   in Energy   /   Comments

File Photo: Crude Oil

The Rivers State Government has announced plans to invest in the upstream and downstream sectors of the oil and gas industry, and also to boost gas supply in the state and across the country.

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Latest

UN to sanction multinationals over rights abuses in Nigeria

  /   in Energy   /   Comments

Oil spill

The United Nations Human Rights Council sitting in Geneva, has passed a resolution to hold transnational companies, especially in the oil and gas sector, accountable for environmental and human rights abuses in Nigeria, and anywhere in the world that they operate.

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Latest

NDDC gets N593.96bn in 4 years — NEITI

  /   in Energy   /   Comments

Niger Delta Development Commission, NDDC, is said to have received about N593.96 billion over a four-year period between 2007 and 2011.

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Latest

FDIs into Nigeria drop to $5.6bn in 2013

  /   in Energy 1:54 am   /   Comments

naira-Dollar

By SEBASTINE OBASI Foreign direct investments, FDIs, into Nigeria reduced from $7.1 billion in 2012 to $5.6 billion in 2013, as a result of divestments by the International oil companies,IOCs, said the United Nations Conference on Trade and Development, UNCTAD. In its latest World Investment Report 2014, UNCTAD said that Nigeria led West Africa’s 14

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Latest

Abuja residents lament drop in power supply

  /   in Energy   /   Comments

Electricity-new

SOME residents of Bwari, Karu, Kubwa, and Kuje, have lamented the huge drop in electricity, claiming that they hardly get up to six hours of power in a day in the Federal Capital Territory, FCT.

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Latest

N8.22trn accrued to 9 states in 4 years — NEITI

  /   in Energy   /   Comments

refinery-7

The Nigeria Extractive Industries Transparency Initiative, NEITI, has disclosed that nine state governments received a total sum of N8.22 trillion accrued from oil and gas revenue from the federation account between 2009 and 2011.

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Latest

Marginal field round: FG cautioned against discretionary allocations

  /   in Energy   /   Comments

Ahead of the forthcoming bid round, and to institute transparency and boost marginal field contribution to Nigeria’s crude output, the Federal Government has been cautioned against the award of oil fields on discretionary basis.

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Latest

IHS to determine viability of GGOEX’s $1.1bn methanol facility

  /   in Energy   /   Comments

The promoters of the Gulf of Guinea Methanol have appointed IHS Global Limited United Kingdom, to conduct a detailed feasibility study on the proposed $1.1 billion (N176 billion) methanol plant at the Ogidigben Industrial Gas Park, in Delta State.

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Latest

Oando to conclude ConocoPhilips’ assets acquisition by July end

  /   in Energy   /   Comments

Oando Energy Resources has announced a shift in the date for the acquisition of ConocoPhilips’ upstream assets in Nigeria till July 31, 2014.

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Latest

Italian prosecutors probe Eni’s Nigeria oil block deal

  /   in Energy 12:04 am   /   Comments

Italian prosecutors have opened a probe into alleged corruption relating to the 2011 acquisition of a big oil field in Nigeria by Italian oil group, Eni and Shell, judicial sources with direct knowledge of the matter told Reuters.

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Latest

Russian businessmen urged to invest in petroleum value chain

  /   in Energy 12:59 am   /   Comments

economy

Nigeriahas opened invitation to the Russian business community to take advantage of its enormous human and natural resources, and invest in its petroleum value chain – upstream, downstream, and gas.

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Latest

FG plans renewable energy for rural areas

  /   in Energy   /   Comments

electricity

ABUJA: The Federal Government has disclosed that accelerated rural electrification will henceforth be driven by renewable energy because of its sustainability and environmental friendliness.

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Latest

Nigeria to host investment forum in Russia — Envoy

  /   in Energy   /   Comments

economy

The Nigerian Embassy in Moscow, Russia, said it has concluded plans to host an investment forum focused mainly on energy for the business community in Russia.

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Latest

Dangote gets $300m facility for refinery construction

  /   in Energy   /   Comments

*Alhaji Aliko Dangote

Dangote Industries Limited has secured a $300 million facility from African Development Bank, AFDB to finance the construction of its crude oil refinery and Greenfield fertilizer manufacturing plant.

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Latest

PIB, key to assessing capital investments — Alison-Madueke

  /   in Energy   /   Comments

Petroleum minister, Mrs Diezani Alison-Madueke

The Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke, has said that the passage of the long-awaited Petroleum Industry Bill, PIB, will enable Nigeria to access capital investments in the oil and gas sector.

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Latest

Total pays N5.7bn to 468 staff in one year

  /   in Energy   /   Comments

Total Nigeria Plc’s employees, totaling 468, received about N5.698 billion as salaries, wages and other benefits in 2013.

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Latest

Shell moves to secure Trans Niger Pipelines in Ogoni

  /   in Energy   /   Comments

PORT HARCOURT: SHELL Petroleum Development Company, SPDC, has introduced what it termed community surveillance to protect its Trans Niger Pipelines, TNP, running across some communities in Rivers state.

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Latest

Marginal fields licensing round 2013: Prospects, delays (3)

  /   in Energy 12:52 am   /   Comments

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

The evaluation criteria includes: information on shareholding of Applicant Company; technical and managerial skills; ability to pay the signature bonus; compliance with provisions under the Nigerian Content Act; extent of compliance with local corporate social responsibility; and experience / technical ability in operating oil fields.

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Latest

Lagos lawmakers flay FG on importation of generating sets

  /   in Energy 12:50 am   /   Comments

generator

The Lagos State House of Assembly has criticised the increasing rate of importation of generating sets into Nigeria, saying that it is as a result of the Federal Government’s ineptitude and inability to provide adequate power supply to the people.

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Latest

Oando’s woes heighten with N6.4bn loss in 3months

  /   in Energy   /   Comments

Yomi Awobokun ( L) , CEO, Oando Marketing PLC providing product information on the 3kg OGAS cylinder, a plug and play cooking gas stove aimed at switching low income households from dirty fuels, to the Senator Magnus Abe ( M) led Joint Committee on Petroleum Resources (Downstream), Finance and Appropriation during a facility tour of the  Oando Marketing Terminal in Apapa, Lagos.

Oando Energy Resources, OER’s woes continued as the company announced a loss of $39.9 million about N6.384 billion, in its first quarter 2014 financial performance bringing its total loss for two consecutive quarters – first and second to $80.889 million, about N12.94 billion.

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