Heirs Energies, Renaissance Africa collaborate to drive Nigeria’s oil and gas devt
Heirs Energies Limited and Renaissance Africa Energy Company have expressed mutual commitment to strategic collaboration following a high-level courtesy visit by Osa Igiehon, CEO of Heirs Energies, to Renaissance's leadership team, led by the Managing Director, Tony Attah.
Hard time for consumers as LPG price rises 33%
By Ediri Ejoh Consumers are facing a difficult time as the price of Liquefied Petroleum Gas, LPG, otherwise known as cooking gas, has risen by over 33 percent month-on-month from N360/kg in July to N480/kg in August. Investigations by Energy Vanguard showed that a 12.5kg cylinder which sold in Lagos for N4,500 in June and […]
Investment in Data centre to hit $174bn by 2023 — Schneider Electric
Schneider Electric, weekend, disclosed that investment in the data centre would hit $174 billion by 2023 following increasing demand.
Bonny Light slides further to $69.77 per barrel on Delta variant, others
By Udeme Akpan The price of Bonny Light, Nigeria’s premium crude oil grade, weekend, dropped to $69.77 per barrel from $72 recorded the previous day, over fears of increasing United States stock and the spread of Delta variant. The price of Bonny Light and other crudes, had risen to over $75 per barrel in July […]
Nigeria’s gas flare falls 0.33% in Q1 2021 to 45.33BCF
By Obas Esiedesa Gas flare in Nigeria’s oil fields fell by 0.33 per cent in the first quarter of 2021 to 45.33 billion cubic feet, BCF, compared to 45.48BCF of gas flared in the fourth quarter of last year, latest data from the industry have shown. Data also showed that on a year-on-year basis, gas […]
Oil Market: Bonny Light slides to $71.24 per barrel on U.S. stock, Delta variant
THE price of Bonny Light, Nigeria’s premium crude oil grade, Wednesday, dropped to $71.24 per barrel from $72 recorded the previous day, over fears of increasing United States stock and the spread of Delta variant.
Oil Exploration: Investment dips as Nigeria suffers major setback
By Udeme Akpan There are indications that limited investment has impacted negatively on exploration, as Nigeria’s rig count, fell by 61.5 per cent, year-on-year, YoY, to 35 in the first half of 2021, H1’21, from 91, recorded in the corresponding period of 2020. The rig count, a major index for measuring level of activities in […]
Regional Collaboration: Senegal turns to Nigeria for oil, gas development
By Prince Okafor The Senegalese government has reached out to Nigeria to support its development of oil and gas industry. The country looks foward to assistance in the areas of security management, national oil company (NOC) organisation, local content regulation and NOC strategies. Senegalese Energy Minister, Aissitou Sophie Gladima, who disclosed this during a courtesy […]
FG reduces Gas to Power price from $2.50 to $2.18
The Federal Government has on Thursday reduced gas to power prices from $2.50 to $2.18 with immediate effect.
PIB: $500m fund will be utilised to transform oil, gas communities ― Host Communities
By Udeme Akpan THE Host Communities Producing Oil and Gas in Nigeria, HOSCOM, weekend, disclosed that the three per cent, about $500 million, provided for in the Petroleum Industry Bill, PIB, would be utilized to achieve sustainable development in the oil and gas communities. In a telephone interview with Energy Vanguard, Chairman, HOSCOM, Dr Mike […]
Slash Frontier Basin Development to 10% — HOSCOM tells National Assembly
THE Host Communities of Nigeria Producing Oil and Gas, HOSCOM, weekend, proposed the dedication of 10 per cent of the Nigerian National Petroleum Corporation, NNPC, profit for oil activities in the Frontier basins.
NLNG Train 7 will increase output by 30% to 30 million tonnes yearly — Report
By Udeme Akpan When the Liquefied Natural Gas, LNG, Train 6 was completed in 2008, close observers had anticipated that Nigeria would immediately go ahead with the construction of Train 7, expected to increase the LNG output to 30 million metric tonnes, MT per annum, from 22 million MT. A number of reasons accounted for this […]
NNPC provides insight into alleged N3.8trn under-remittance from crude oil sales
By Deborah Oghenebrume The Nigerian National Petroleum Corporation, NNPC, has explained issues involving the alleged under-remittance of N3.8 trillion from crude oil sales to the Federation Account between January and December 2015. The Senate had Wednesday, faulted the NNPC over alleged under-remittance of N3.8 trillion revenue from domestic crude oil sales to the Federation Account […]
Metering: NERC names 99 companies as suppliers, installers
By Obas Esiedesa – Abuja The Nigeria Electricity Regulatory Commission, NERC, on Monday named 99 companies as metering service providers for the power sector. The commission in a notice posted on its website said the companies have been certified with some companies whose licences had expired, renewed. A breakdown showed that 15 companies including Turbo […]
Power generation improves to 4,823MW
By Obas Esiedesa – Abuja After several weeks of poor performance, power generation in Nigeria picked up at the weekend, reaching 4,823.60 megawatts on Saturday. Data from the National System Operator, an independent unit in the Transmission Company of Nigeria, TCN, showed that it was a 19.32 per cent higher than the 4,042.40MW generated on […]
Slash frontier basin development to 10%, host communities tell NASS
By Udeme Akpan THE Host Communities of Nigeria Producing Oil and Gas, HOSCON, weekend, proposed the dedication of 10 per cent of the Nigerian National Petroleum Corporation, NNPC, profit for oil activities in the Frontier basins. In the Petroleum Industry Bill, PIB, which seeks to provide Legal, Governance, Regulatory and Fiscal Framework for the Nigerian […]
