Drilling slows in Nigeria but oil production rose

September 19, 2018

Nigeria recorded a downtick in active drilling oil rigs to 13 in August after a record high of 16 in the month before. According to Baker Hughes, a leading oil and gas services firm, drilling activities seems to have slowed down despite an increase in crude production. Crude output by Nigeria increased by 74,000 barrels […]

Analysts weigh in on NERC tariff review delay on metering claim

September 19, 2018

Analysts have weighed in on Nigerian Electricity Regulatory Commission’s (NERC) comment that it would not review electricity tariff unless Electricity Distribution Companies (DisCos) meter all their customers, and theri verdict is that it is unrealistic for DisCos to meter over four million customers anytime soon. Metering continues to be the bone of contention between DisCos […]

BP vs Vitol: Class of oil trading giants lands on West African turf

Agency ReportSeptember 17, 2018

Vitol

Oil major BP has clashed with rival Vitol in the once-languid West African crude market, buying up cargoes and taking a big derivative position that may have raised costs for European refiners. The West African crude market typically sees cargoes of Nigerian and Angolan change hands in back-to-back deals outside the Platts window, a system […]

BP to invest $2bn in Egypt come 2019, says regional head

Businessam StaffSeptember 12, 2018

BP

British Petroleum’s North Africa Regional President,  Hesham Mekawi said on Wednesday, that BP is looking to invest $2 billion in developing its gas fields in Egypt within 2019. “The company invested $4 billion (in Egypt) during 2017 and around $2.5 billion for 2018, and are planning to pump $2 billion next year,” local newspaper Al-Shorouk […]

Qatar eyes Germany’s energy, finance sectors with €10bn investment

Businessam StaffSeptember 10, 2018

OPEC, Oil, Qatar

The Gulf state of Qatar said Friday it would invest €10 billion (8.9 billion pounds) to strengthen its ties with Germany over the next five years, including the possible creation of a liquefied natural gas (LNG) terminal. Qatar’s Emir Tamim bin Hamad al-Thani announced the funding boost for its long-term trading partner and Europe’s largest […]

Nigeria’s NNPC thinks clean fuel, signs MoUs with consortium of local, Chinese firms to build on 10 biofuel plants

September 6, 2018

Nigeria is looking to build more than ten large biofuel plants as the country’s oil corporation, Nigerian National Petroleum Corporation (NNPC) announced that it has signed a memorandum of understanding (MoUs) with a consortium of Nigerian and Chinese companies to develop biofuel plants that will blend fuel ethanol with petrol to boost the supply of […]

EKEDC opens complaint resolution centres in its branches

Bukola OdufadeSeptember 3, 2018

EKEDC

Eko Electricity Distribution Company (EKEDC) has established first contact resolution centers at its district offices, in a bid to serve its customers better. According to a statement issued by the company, starting from last Saturday September 1, 2018, all complaints would now be directed to and resolved at the customers’ respective district offices. “Only complaints […]

N2.8trn market beckons in Nigeria’s fledgling mini grid electricity

Bukola OdufadeSeptember 3, 2018

Mini-grids

With a revenue potential of N2.8 trillion ($8 billion) annually, Nigeria has barely begun to scratch the surface of mini grids development. However, this doesn’t mean that the country is not making some efforts in scaling up its electricity access through mini grids, but it is still lagging behind. Nigeria, according data from the World […]