Reduced hydrocarbon investments cannot guarantee energy security in Africa, says NNPC
Innocent ObasiFebruary 15, 2023
By Innocent Obasi The Nigerian National Petroleum Company (NNPC) Ltd has said that decreasing investments in hydrocarbon ventures cannot guarantee energy security in Africa. NNPC Ltd made this disclosure in a statement released by Mele Kyari, the group CEO of the company, during the ongoing sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC) in Lagos. […]
IEA advocates reduction in global reliance on oil & gas despite $4 trillion industry growth
Innocent ObasiFebruary 15, 2023
By Innocent Obasi The International Energy Agency (IEA) has urged countries around the world to lessen their reliance on oil and gas, notwithstanding the $4 trillion gain recorded by the industry in 2022. IEA made the call in a statement released by Fatih Birol, the executive director of the agency, during the Oslo Energy Forum […]
Ministers tell UK energy firms they must pass on price savings to customers
Businessam StaffFebruary 14, 2023
After a turbulent year of energy costs rising, ministers have warned energy firms that they must pass on the benefits of lower wholesale prices to consumers. Wholesale gas prices have fallen sharply in recent months, but this drop is yet to feed through into household bills because suppliers buy their energy months in advance. […]
NNPC Ltd, Sahara Group deliver 24-hours electricity to Ajoki community in Edo state
Innocent ObasiFebruary 13, 2023
By Innocent Obasi Enageed Resource Limited, a Sahara Group upstream company and the Nigerian National Petroleum Corporation Ltd (NNPCL) have delivered a 24 hours gas powered electricity project to boost socio-economic growth prospects in Ajoki community,Edo State. The Enageed Resource Ajoki Gas-to-Power project generates a combined capacity of 1 Megawatt electricity from gas, which is […]
NDDC pursues reconciliation of accounts with oil giant Shell
BEN EGUZOZIEFebruary 13, 2023
By Ben Eguzozie As EFCC said collected company’s financial commitment Energy giant paid out $2bn in 16 years to commission Osagie Okunbor, the managing director of Shell Petroleum Development Company of Nigeria Limited (SPDC) and country chair of Shell Companies in Nigeria, has said his company will work with officials of the Niger Delta Development […]
GE Power recommends full optimisation of Nigeria’s national grid for energy sustainability
Habeeb AdamuFebruary 9, 2023
By Habeeb Adamu General Electric Power, an energy technology company, has recommended that full optimisation of Nigeria’s national grid should be a critical part of the discourse around achieving sustainable energy. The energy company noted this in a statement by Mohammed Mijindadi, the company’s managing director, Gas Power Plant (Anglophone West Africa). Mijindadi said energy […]
Stakeholders advocate policy review, use of technology to curb corruption in electricity sector
Business a.m.February 9, 2023
By Business A.M. Worried by the issues of corruption affecting the electricity sector, stakeholders have called on the federal government to deploy technology, legislation and strengthen the regulatory institution to address the situation. Tunji Adeyeye, the regulatory manager at the Association of Nigerian Electricity Distributors (ANED), led the call during an anti-corruption radio programme tagged […]
FEC approves N117bn for oil museum in Bayelsa
Innocent ObasiFebruary 9, 2023
By Innocent Obasi The Federal Executive (FEC) has approved N117 billion for the construction of the Oloibiri oil museum and research centre in Bayelsa state. Oloibiri located in the Ogbia local government area of the state is the first oil well discovered in Nigeria in 1958. Timipre Sylva, the minister of state for petroleum resources, […]
NNPC chief, Kyari blames rising cost of transferring vessels, forex scarcity for Nigeria’s fuel crisis
Onome AmugeFebruary 9, 2023
By Onome Amuge The lingering struggle for fuel availability and the hike in the price of the commodity in Nigeria is as a result of the rising cost of transferring vessels, which has increased from $21 in early January to about $80 in some locations in the country. Mele Kyari, the Group chief executive […]
PETAN targets expansion of local content agenda at SAIPEC 2023
Innocent ObasiFebruary 3, 2023
By Innocent Obasi The Petroleum Technology Association of Nigeria (PETAN) has announced that its partnership with the Nigerian Content Development and Monitoring Board (NCDMB), and the Nigerian National Petroleum Company (NNPC) to host the seventh edition of the Sub-Saharan Africa International Petroleum Exhibition and Conference (SAIPEC),scheduled for February 13-16, 2023 at the Eko Convention Center, […]