Nigeria’s privatisation agency assures House committee on PSRP capacity to tackle liquidity issues in power sector

Nigeria's Privatisation Agency

Nigeria’s privatization agency, the Bureau of Public Enterprises (BPE) has assured the House of Representatives’ committee on Privatisation and Commercialisation on the capacity of the Power Sector Recovery Programme (PSRP) to tackle the lingering liquidity issues in the power sector. “PSRP is robust enough to ensure viability of the power sector and manage the liquidity […]

Total signs agreement with Tata to improve its refinery performance

Total

International oil company, Total of France, Tuesday announced a partnership agreement with Indian based Tata Consultancy Services (TCS) aimed at improving its refinery performance, by building an innovative center in the country. According to a statement released by the oil giant, the partnership will initially focus on the use of disruptive technology to revamp the […]

Oil prices could hit $100 despite increased production from OPEC, allies

OPEC

The highly volatile oil market might be faced with more volatility in the coming months as oil analysts say that there is a chance crude prices might hit triple digits. Increased production from OPEC and its allies can’t replace production from Iran, which would reduce by 500,000 to one million barrels per day once sanctions […]

We are ready for lower-than $60 oil price, says Austin Avuru, Seplat CEO

Austin Avuru, CEO of Seplat Petroleum Development Company Plc

Austin Avuru, Seplat chief executive officer says the company’s strategy in combatting near to midium-term challenges such as decline in price of crude oil will be met with adequate preparedness. “Our work programme for the year and for 2019 is not based on oil prices as high as even $60” Avuru stated while speaking on […]

Acquiring SCADA system in Nigeria’s electricity industry might solve its pressing challenges

SCADA Systems

The increasing deployment of SCADA system in Africa is growing as it reduces losses and optimizes production, especially in the electricity sector and Nigeria is trying to catch up with its peers. The Nigerian electricity transmission company, TCN recently said it had begun the acquisition of Supervisory Control and Data Acquisition System (SCADA)/Energy Management System […]

Nigeria’s state oil firm eyes capital market to fund at least 8 new projects

Capital Market

The Nigerian National Petroleum Corporation (NNPC) is set to hit the Capital market to fund its new projects, which include the NNPC/NAOC JV Idu-Re-development, South Gas Project, North Gas Project and Central Gas Project. Maikanti Baru, group managing director of the corporation, disclosed this at the ongoing Nigeria Oil and Gas Strategic Conference and Exhibition […]

Schlumberger to provide $724m as NNPC concludes JV financing deal

Schlumberger

Nigeria’s state owned oil corporation, NNPC has announced that it has completed the final stage of the financing and technical services arrangement between NNPC/First E&P JV and Schlumberger for the Anyalu and Madu fields under oil mining license OML 83 and OML 85 offshore Nigeria. According to the signed agreement, global oil services giant, Schlumberger […]