Says Azura supplies 10% output to national grid By Udeme Akpan THE management of Azura Power Plant, Tuesday, said the Financial Guarantees, signed by the Federal Government was an essential document, which paved way for the raising of almost $900 million loans from the World Bank and other institutions for the construction of the Azura-Edo […]

By Johnbosco Agbakwuru Many Nigerians have come to the conclusion that inadequate electricity supply in the country is one of the factors inhibiting national growth. Moreso is the fact that electricity is vital to most, if not all, modern development sectors and routes. Successive governments have made efforts to bridge the power gap, especially given […]

Total suffered its first net loss in five years in the second quarter due to the plunge in crude prices triggered by the coronavirus pandemic, the French oil company said Thursday. The $8.4 billion loss included $8.1 in writedowns in asset values due to the drop in oil prices, in particular for its oil sands […]

THE Federal Government has approved Siemens’ pre-engineering contract, thus enabling the company to start work on Nigeria’s 25,000 megawatts expansion project.

…Says Fashola not part of Azura power deal By Chris Ochayi More details are emerging on the agreement reached between the Federal Government and the Azura Power Plant indicating that the Power Purchase Agreement became operational in April 2013 with the execution of the Power Purchase Agreement followed by several other aspects of the deal […]

By Ediri Ejoh Nigeria has started the export of 950,000 metric tones of the Liquefied Natural Gas (LNG), worth N354 billion to the global market. According to the Nigerian Port Authority, NPA’s shipping data; the product was exported through the use of 16 vessels to various ports around the world in the past few months. […]

C40 Cities, a network of the world’s mega cities committed to addressing climate change, has released C40 Mayors and Governors Agenda for a Green and Just Recovery outlining bold steps to deliver an equitable and sustainable recovery from the COVID -19 pandemic and an end to fossil fuel subsidies.

THE Chief Operating Officer (COO), Nestoil Group and Managing Director/CEO, Century Power Generation Limited, Dr. Chukwueloka Umeh, has identified cost reflective tariff as the necessary ingredient for the realisation of adequate and steady power supply in Nigeria.

Nigeria lost $779.9 million in six months, as oil and gas companies operating in the country flared 222.8 billion standard cubic feet (bscf) of gas from January to June 2020, according to data obtained, yesterday, from the Federal Government’s gas flare tracker.

By Michael Eboh Nigeria lost $779.9 million in six months, as oil and gas companies operating in the country flared 222.8 billion standard cubic feet (bscf) of gas from January to June 2020, according to data obtained, yesterday, from the Federal Government’s gas flare tracker. Using the Central Bank of Nigeria’s (CBN) average exchange rate […]

The attention of Sahara Energy Resource Limited (“SERL”) has been drawn to a false and misleading media report initially published by an online news portal, on July 15, 2020 under the headline: “How Late Abba Kyari Illegally Shared $200million From $1.099billion Oil Bloc Money To Sahara Energy”, which has also been re-hashed in other online […]

By Udeme Akpan Barely, a few hours after the Joint Ministerial Monitoring Committee (JMMC) of the Organisation of Petroleum Exporting Countries (OPEC) and its non-OPEC allies, popularly known as OPEC+, had put conformity to their output cut in June 2020 at 107 per cent, oil prices have recorded a marginal increase in the global market. […]

Chevron Nigeria Limited (CNL), operator of the joint venture between the Nigerian National Petroleum Corporation (NNPC) and CNL, has sealed an agreement, directed at buying Sasol Middle East and India (Pty) Limited shares in Chevron Sasol EGTL Limite

THERE are indications that oil theft and illegal refining have attain new heights in Nigeria as Shell Petroleum Development Company Limited (SPDC), with over 600,000 barrels daily output, recorded 39 oil spill cases in the second quarter (April – June) of 2020, according to data obtained from SPDC.

Loan to be repaid from pipeline transmission tariff, sovereign guarantee Set August 2020 for financial closure By Michael Eboh The Federal Government, Tuesday, disclosed that funding for the $2.6 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline would be provided by the Bank of China and SINOSURE, while two Chinese firms would be working along with their Nigerian […]