FG dismisses World Bank’s report on Nigeria’s electricity consumption

April 26, 2021

Wale Ameen Online Editor   The Federal Government has dismissed with a wave of hand the recent World Bank’s report which states that over 78% of Nigerian electricity consumers have access to less than 12 hours of supply daily. According to the Federal Government, the report is grossly inaccurate. This stand was made known by […]

New gas deal to boost Nigeria’s 1.2 tcf

April 26, 2021

COVID-19 lockdown: NLNG, Total, NGC, others ask Rivers State for exemption

…GDA, Nigeria’s first agreement separating gas development from oil production   Ben Eguzozie, in Port Harcourt   A new gas commercialization deal signed by the Nigerian National Petroleum Corporation (NNPC) and Sterling Oil Exploration and Production Company (SEEPCO), a private operator of the Oil Mining Lease (OML) 143, is set to boost Nigeria’s 1.2 trillion cubic […]

Nigeria tops electricity-deficient countries – World Bank

April 26, 2021

  …Down from 2017 ranking after Yemen …Global lender approved $1.25bn financing to support Nigeria reset power sector …Businesses lose $29bn annually to power unavailability     Ben Eguzozie, in Port Harcourt   Nigeria, Africa’s top oil producer and the continent’s biggest economy by GDP, has unenviably slipped into first-from-bottom in electricity-deficient countries index, according […]

Poor electricity costs Nigerian businesses $29bn per year – World Bank

Online EditorApril 22, 2021

Arakunle Kayode   The World Bank has disclosed that approximately $29 billion is lost every year for Nigerian businesses as a result of the country’s unreliable electricity. According to the bank, Nigeria also has the most people without access to electricity in the world, with one out of every ten people without access to electricity […]

France’s Axens Group acquires Denmark’s Flowvision, a nitrogen oxides reduction solutions company

April 22, 2021

Ben Eguzozie, with wire copy As global energy companies diversify investments to cleaner, renewable energy systems amid global tightening of measures to curtail carbon emission, Axens Group of France has announced the signature of a Share Sale and Purchase Agreement (SSPA) for the acquisition of Flowvision (Denmark, Odense), an engineering company specialized in emission abatement […]

President Macron lauds Abdul Samad Rabiu as BUA, Axens of France make progress on BUA’s 200,000 bpd refinery in Akwa Ibom

April 16, 2021

  …As Abdul Samad Rabiu named chairman, French Nigeria Investment Club …French foreign trade minister, Riester, visits BUA Lagos hqtrs …France-Nigeria relations continue to soar, despite language, historical differences     Ben Eguzozie, in Port Harcourt   French President, Emmanuel Macron, has commended the chairman of BUA Group, Abdul Samad Rabiu for his commitment to […]

Nigeria’s exact crude oil production volume unknown – NEITI

April 16, 2021

Arakunle Kayode   According to the Nigeria Extractive Industries Transparency Initiative, no one knows the exact volume of crude oil generated in Nigeria, especially in deep offshore fields. Orji Ogbonnaya-Orji, NEITI’s Executive Secretary, revealed this during a courtesy call on Mansur Liman, Director-General of the Federal Radio Corporation of Nigeria, in Abuja. He said this […]

Explosion at TCN’s station plunges Port Harcourt into power outage

Online EditorApril 15, 2021

… Businesses count losses in millions Ben Eguzozie, in Port Harcourt A massive explosion at a transformer of Transmission Company of Nigeria’s (TCN) transmission station in Port Harcourt, Rivers State capital has plunged most parts of the Port Harcourt metropolis into severe power outage. Management of TCN said its engineers were working to repair the […]