Oando PLC Completes $783 Million Acquisition of Eni’s Subsidiary, NAOC Oando PLC, Nigeria’s leading energy solutions provider, has successfully completed the acquisition of 100% of the shareholding interest in Nigerian Agip Oil Company (NAOC) from the Italian energy giant, Eni. The transaction, valued at $783 million, includes both the asset consideration and reimbursement, marking a…
Axxela and NGML Commission First Gas Pipeline in Lagos, Connecting Eko Atlantic City Axxela Limited, a leading gas and power company in sub-Saharan Africa, in partnership with NNPC Gas Marketing Limited (NGML), has successfully commissioned a 5km natural gas pipeline network in Lagos. This newly completed segment, which connects Eko Atlantic City to piped natural…
Dangote Refinery Set to Begin Petrol Production in September The Dangote Petroleum Refinery is gearing up to commence petrol production by mid-September 2024, following ongoing test runs, according to a report by Reuters. However, there is a possibility of further delays, as indicated by industry monitor IIR Energy, which informed clients that the start date…
Nigeria’s Electricity Generation Hits 4,915MW in July 2024, Marking a 12% Increase Electricity generation in Nigeria saw a significant boost in July 2024, with power plants across the country generating a total of 4,915 megawatts (MW), according to the Nigerian Electricity Regulatory Commission (NERC). This marks a 12% increase from the 2,760 gigawatt-hours (GWh) generated…
At Windhoek Conference, NCDMB Lists Gains of NOGICD Act, Urges Namibia to Prioritise Local Content The Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 and its astonishing success in resetting oil and gas industry spending and in-country capacity development was the fulcrum of a presentation by the Executive Secretary of the Nigerian Content…
SPE Nigeria furthers the drive to boost oil, gas output to meet global energy demands …unveils conference theme for 2025 The Society of Petroleum Engineers (SPE) Nigeria Council has reaffirmed its commitment to advancing the oil and gas sector, underscoring its crucial role in meeting the global energy needs in a safe, secure, and sustainable…
Smart Video Surveillance: A Key to Safety at Major Sporting Events, Says Western Digital Expert Ghassan Azzi As the world gears up for another season of major sporting events, concerns about safety and crowd management are once again at the forefront. According to Ghassan Azzi, Sales Director for Africa at Western Digital, smart video surveillance…
Diesel Price Drops yy 5.71% in July to N1, 379/Litre The average retail price of diesel has decreased by 5.71% on a month-on-month basis from N1,462.98 in June 2024 to N1,379.48 in July 2024, according to data from the National Bureau of Statistics, NBS. on a year-on-year basis, the average retail price of diesel increased…
NNPC Ltd Does Not Owe $6.8bn The attention of the Nigerian National Petroleum Company Limited (NNPC Ltd.) has been drawn to a media report that the company is indebted to international oil traders to the tune of $6.8bn and that it has not remitted revenues to the Federation Account since January, among other allegations. Consequently,…
Ministers Lokpobiri, Uzoka-Anite, Dangote Endorse Inaugural Nigerian Crude Oil Refining Summit The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, the Minister of Industry, Trade and Investment, Dr. Doris Uzoka-Anite, and Alhaji Aliko Dangote, President/Chairman of the Dangote Refinery, have formally endorsed the inaugural Nigerian Crude Oil Refining Summit set to take place…