Experts say mini-grids, powered by renewable, can move Nigerians from poverty
Bukola Odufade
September 24, 2018
The conversation around mini-grids powered by renewable energy has been unceasing in Nigeria as the industry stakeholders continue to express optimism about the scalability of this alternative energy system, and as a result, this relentless push for mini grids is gaining traction as the sector continues to grow and expand. In Nigeria, energy access and […]
Drilling slows in Nigeria but oil production rose
Bukola OdufadeSeptember 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
Bukola OdufadeSeptember 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
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
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
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
Bukola OdufadeSeptember 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
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
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 […]
Total agrees sale of interest in Joslyn oil sands project to Canadian firm for C$225 mn
Businessam StaffAugust 31, 2018
Total and its partners have agreed to sell the Joslyn oil sands project in northern Alberta, Canada to Canadian Natural Resources (CNR) for C$225 million, due to low oil prices. Following the oil price fall in 2014, the project partners decided to put further development on hold as activities have since been limited to fulfilling […]