REA delivers 100kW hybrid solar mini grid to Edo community
Tobias Pius
21 hrs
By Tobias Pius As part of its determination to further push renewable energy solutions as the way forward for bridging the electricity gap in the country, Nigeria’s Rural Electricity Agency (REA) has delivered a 100kW hybrid solar mini-grid to the Adebayo Community in Ovia South East local government of Edo state, in line with […]
OPL 310: LEKOIL engages Optimum Petroleum over CRSA agreement
Ben EguzozieFebruary 25, 2021
Seeks mutually agreed interpretation of agreement LEKOIL, an oil and gas exploration and production company with focus on Nigeria and West Africa region has announced that Mayfair Assets and Trusts Limited, in which it has a 90 per cent economic interest, has received a letter from Optimum Petroleum Development Company OPDC), the operator […]
Nigeria still losing 200,000bpd crude daily as NNPC enlists army’s intervention
Ben EguzozieFebruary 25, 2021
CDS pledges to galvanize military to protect oil assets Nigeria is still losing 200,000 barrels of crude oil daily to vandalism, especially from its System 2B Pipeline, Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC), has revealed. Another set of huge loses comes from theft from the […]
Nigeria to sell 170MW electricity capacity to Togo from Calabar plant
Ben EguzozieFebruary 24, 2021
To sell additional 100MW to Paradise City, Calabar Power part of Nigeria’s 3,742MW stranded power Nigeria is to sell 170 megawatts of electricity capacity to Republic of Togo, a West African and ECOWAS neighbour. The power described as “excess capacity,” is coming from the Niger Delta Power Holding Company (NDPHC) plant in […]
NCDMB extends ‘transitional’ equity to Waltersmith’s expanded refinery
Tobias PiusFebruary 19, 2021
By Tobias Pius Nigeria’s National Content Development Monitoring Board (NCDMB), a 30 per cent participant in the first phase of the 5,000 barrels per day and 271 million litres of petroleum products per year Waltersmith Refinery facility in Ibigwe, Imo State, has declared its willingness to further invest in the next phase of the […]
Global solar PV demand to reach 150 GW in 2021
Ben EguzozieFebruary 18, 2021
Growth to be driven by China, Europe’s favourable policies, adding 77 GW India to add 9 GW motivated by its auctions for utility-scale projects IEA says PV growth to hit 880 GW by 2024, from 635 GW in 2019 Global demand for photovoltaics, otherwise called PV, is set to witness an uptick […]
Biting power tariff back in disguise
Charles AbueFebruary 17, 2021
By Charles Abuede, Onome Amuge, Zainab Iwayemi & Tobias Pius Hit Nigerians hard with outrageous bills, rapid depletion of energy units Consumers blame the government, regulatory authority The power sector in Nigeria has had its myriads of challenges prior to the Covid-19 pandemic. But the health crisis only made it more glaring as Nigerians […]
Brent crude passes $63 as risk-on sentiment soars, FXTM analyst
Ben EguzozieFebruary 15, 2021
As Bonny Light crude rallies at $60.52 Oil prices kicked off the week on a strong footing, hitting a new 13-month high in early Asian trade. The robust recovery in oil prices and industrial metals over the past couple of months is driving the idea of a new commodities supercycle in which […]
BUA’s 200,000bpd refinery project on track for 2024 commercial operations
Onome AmugeFebruary 11, 2021
By Onome Amuge The proposed 200,000 barrels per day BUA refining and petrochemical plant in Akwa Ibom is on course towards full commercial operation in 2024, barring any unforeseen developments in the local and international economy. Abdul Samad Rabiu, founder and executive chairman of the leading foods and infrastructure conglomerates made the disclosure while […]
NNPC rallies operators on production cost optimization as Nigeria targets $10 per barrel
Ben EguzozieFebruary 10, 2021
Sylva, petroleum minister, launches NUCOP At current $30 for its JV, and $20 for PSC, Nigeria far outshoots Saudi Arabia’s $2.80 The Nigerian National Petroleum Corporation (NNPC) has called on stakeholders in the oil and gas industry to join in working towards reducing operations cost to achieve the $10 or less per barrel […]