Sahara Group’s SAPET GAS sails into Cote d’Ivoire to promote energy transition
Grace AirhuleJuly 29, 2022
By Grace Airhule. SAPET GAS, the pioneer Liquefied Petroleum Gas (LPG) vessel to be named under Ivorian origin and carry the national flag, has made its historic maiden voyage to Cote d’Ivoire, ushering a whiff of clean energy into the country. The 23,000-cubic metre capacity vessel which cost CFA 26 billion was received by Ivorian […]
Geregu Power closes N40.1bn corporate bond issuance, Nigeria’s largest by a GenCo
Habeeb AdamuJuly 29, 2022
By Habeeb Adamu. Geregu Power Plc, a power company primarily engaged in the generation and sale of electric power in Nigeria, has announced its successful issuance of a N40.085 billion Senior Unsecured Bonds under its N100 billion multi-instrument issuance programme. The transaction, which represents Geregu’s debut bond issuance in the debt market, is the largest […]
Algeria, Niger, Nigeria position as EU seeks alternatives to Russian energy
Habeeb AdamuJuly 29, 2022
By Habeeb Adamu. Forty years after the idea was first suggested, Algeria, Niger and Nigeria have signed a Memorandum of Understanding (MOU) to build a mega gas-transport project linking the three countries with a pipeline spanning more than 4,000 km (2,500 miles). The MoU was signed in Algeria on Thursday by Algerian Minister of Energy […]
Seplat Energy records 238% growth in PBT to $209.9m in H1 2022
Anita OkoroJuly 29, 2022
By Anita Okoro. Seplat Energy Plc, a leading Nigerian independent energy company, has reported a rise of 238 percent in its half year 2022 profit before tax (PBT) to $209.9 million from $62.1 million recorded in the corresponding period of 2021. The company, listed on both the Nigerian Exchange and the London Stock Exchange, also […]
Crtve DEVELOPMENT launches WE!ARE movement to promote climate justice
Onome AmugeJuly 29, 2022
By Onome Amuge. Pan-African social agency, Crtve DEVELOPMENT (CD), has launched the WE!ARE movement to build a pan-African voice on climate justice ahead of the United Nations Climate Change Summit (COP 27). During the virtual launch, executives of the agency explained that the WE!ARE movement aims to inspire young people across Africa to share their […]
MOSOP rejects NPDC-Sahara Energy deal to resume oil production in Ogoni land
Maduabuchi EfegadiJuly 28, 2022
BY MADUABUCHI EFEGADI Movement for the Survival of Ogoni People (MOSOP) has again rejected a new deal in which the National Petroleum Development Company (NPDC) got Sahara Energy to resume production in the oilfields in Ogoni land from where Shell Petroleum Development Company of Nigeria was forced out in 1993 following years of anti-Shell protests […]
IMF, AfDB experts underscore urgency of addressing Africa’s $108bn climate finance shortfall
Onome AmugeJuly 27, 2022
By Onome Amuge African countries receive $18.3 billion worth of fundings annually to curb the devastating effects of climate change, but the continent currently faces a financing gap of $108 billion annually from the $1.6 trillion needed between 2022 and 2030 to meet the Nationally Determined Contributions (NDCs) to address climate change. Experts from the […]
NMMP: Mojec, Protogy deny CBN’s allegation of fund diversion
CHUKS OLUIGBOJuly 27, 2022
BY CHUKS OLUIGBO. Some Meter Asset Providers in the country have strongly denied the allegation by the Central Bank of Nigeria (CBN) that they diverted funds meant for mass metering of electricity consumers. Mojec International Limited and Protogy Global Services Limited on Tuesday described the accusation as baseless, unfounded, and capable of hurting the Nigerian […]
NERC, BPE name Ahmed Dangana new MD of KEDCO
Adeola AjakaiyeJuly 26, 2022
By Adeola Ajakaiye, in Kano. Power sector regulators, Nigerian Electricity Regulatory Commission (NERC) and Bureau of Public Enterprises (BPE) have approved the reconstitution of the board of directors of Kano Electricity Distribution Company Plc (KEDCO). The approval followed the federal government’s restructuring of five electricity distribution companies (DisCos) as a result of a takeover of […]
Nuclear power sees resurgence on decarbonisation, energy security
Maduabuchi EfegadiJuly 26, 2022
By Maduabuchi Efegadi. With fuel prices skyrocketing and energy supply and security concerns continuing, interest in nuclear power is gaining momentum around the world, according to a summary of recent developments. The International Energy Agency’s (IEA) report in June this year, titled, “Nuclear Power and Secure Energy Transitions”, acknowledged the unique opportunity for nuclear energy […]