PHED Makes Profit of N6.3bn Revenue in May 2023 In what is considered a rare situation with electricity management in Nigeria, The Port Harcourt Electricity Distribution Plc, PHED, has recorded revenue of N6.3billion from electricity bills collection in the month of May 2023, the highest revenue collection ever in its history. The N6.3billion revenue…
EU Won’t Extend Emergency Energy Measures, Despite Soaring Inflation. Emergency energy price measures implemented by the European Union in 2022 will not be extended further, the European Commission said earlier this week, bringing to an end hundreds of billions of dollars in tax cuts, subsidies and other incentives. Citing electricity prices that have dropped to…
UK Grid Operator Enables Renewables Producers to Connect New Projects Developers of new renewable energy projects could be empowered to build their own connections to the grid, as part of a series of reforms unveiled recently by National Grid’s electricity system operator (ESO). To help frustrated firms beat the extensive queues for connections, ESO has…
Lukoil Raises Oil Output at Iraq’s West Qurna 2 To 480,000 Bpd -Oil Official Russia’s Lukoil has increased oil production at Iraq’s southern West Qurna 2 oilfield by 80,000 barrels per day (bpd) to a total of 480,000 bpd, an oil official told Reuters last week. Production rose after the completion of the connection of…
OPEC+ Meets June 4 in Vienna amid Conflicting Messages Members of the Organization of Petroleum Exporting Countries, OPEC, producers and their main allies, together known as OPEC+, will meet in Vienna, Austria, to set out their next oil policy moves. Ahead of the meeting, however, top OPEC producer, Saudi Arabia’s Energy Minister Prince Abdulaziz bin…
Government Poverty Alleviation Subsidy linked to Seplat Energy is fraudulent – Company Seplat Energy says its attention is drawn to a false Poverty Alleviation Subsidy claim linked to Seplat Energy Plc on social media and other digital platforms. In an official statement released on its website, the company stated that it is note behind the…
Lloyd’s Register Punishes Indian Shipping Company for Carrying Russian Oil Lloyd’s Register has removed the certification of 21 vessels operated by Indian shipping company Gatik Ship Management, which is one of the biggest shippers of Russian oil abroad. “Lloyd’s Register is committed to facilitating compliance with sanctions regulations on the trading of Russian oil,” Lloyd’s…
Nigeria Completes 700MW Zungeru Hydro Power Project Nigeria’s Minister of Power, Abubakar D. Aliyu has announced the completion of construction of the 700MW Zungeru Hydropower Project, adding that that the Transmission Company of Nigeria, TCN, is ready to accept power transmitted from the plant. The hydropower project is located on the Kaduna River near Zungeru…
Chevron Recommits to Advancing Investment in Nigeria Chevron Nigeria Limited has said it is committed to advancing investment in Nigeria with a key focus on environmental sustainability. The Company is also committed to advancing a lower carbon future, one that meets the global needs of all people, through affordable and reliable, ever-cleaner energy towards achieving…
Wärtsilä LNG Reliquefication Retrofit Contract Reduces Costs & Emissions Technology group Wärtsilä will supply the reliquefication system for a retrofit project on an LNG carrier vessel converted to operate as a floating storage unit (FSU). The vessel, the ‘Energos Grand’ is owned by Connecticut, USA based operator Energos Infrastructure, and is being chartered by New…
