Eterna Plc assures shareholders at AGM ratifies Abiola Lawal As MD/CEO Eterna Plc, a leading integrated energy provider in Nigeria, has reassured stakeholders of its commitment to remaining competitive despite the challenging economic environment. This assurance was given by the Chairman of Eterna Plc, Dr. Gabriel Ogbechie, OON, during the company’s 31st Annual General Meeting…
Oil Bidding: Why NUPRC Prefers Production Bonus over Signature Bonus By Ibrahim Musa The Federal Government has emphasized production bonus, which refers to the payment by an operator to a host country upon achievement of oil and gas production, as a strategy for attracting investors to bid for Nigeria’s oil blocks. Previously, the government relied…
FG re-engineers Nigeria’s oil bidding process, focuses on production bonus The Federal Government has re-engineered Nigeria’s oil bidding process with emphasis on production bonus, targeted at enabling investors to channel their scarce resources into immediate development and early production. In the past, emphasis was placed on the high signature bonus, a development that discouraged local…
Shell Wins FRCN Award Shell Petroleum Development Company of Nigeria Limited (SPDC) has received the Federal Radio Corporation of Nigeria (FRCN) Award for Consistent Media Partner, reaffirming its commitment to the socio-economic development of Nigeria, particularly in the Niger Delta. The award was presented at a dinner in Port Harcourt celebrating the 21st anniversary of…
AGIS Ignites Urgent Need for Innovation in Africa’s Energy Landscape The Africa Gas Innovation Summit (AGIS) 2024 held recently in Abuja has emphasized the urgent need for innovation in Africa’s energy landscape. With new players like Ghana, Tanzania, Senegal, Mauritania, Mozambique, Namibia, and Uganda joining traditional leaders such as Nigeria, Egypt, Algeria, Gabon, and Angola,…
NOG Energy Week 2024: West African Countries Harnessing Gas for Industrialisation to Boost Economic Development Abuja, Nigeria – Many African countries are harnessing gas and other cleaner and greener energies to drive their industrialisation journey. African countries including Ghana and Nigeria are investing in gas infrastructure and promoting its utilisation, and by extension are addressing…
India’s Oil Imports Surge: Russia Hits Record High, Saudi Arabia Drops India’s oil imports from Russia have reached an unprecedented high of approximately 2.1 million barrels per day (bpd) in May, driven by widening discounts on Russian oil due to decreased demand from China. This surge has pushed Russia’s share in India’s oil market to…
NERC Approves N21 Billion for DisCos to Procure Meters for Customers The Nigerian Electricity Regulatory Commission (NERC) has announced the approval of N21 billion for 11 electricity Distribution Companies (DisCos) to provide meters for end-use customers. This funding, part of the Presidential Metering Initiative under the Meter Acquisition Fund (MAF), aims to address the persistent…
TCN Boosts Transmission Capacity with New Transformer in Benin The Transmission Company Nigeria, TCN, has commissioned a new 300MVA power transformer at its Benin Transmission Substation, increasing power transmission capacity in the South-South and Southwest regions. According to TCN General Manager, Public Affairs, Ndidi Mbah, the new transformer, one of two delivered to the substation, is…
Oyetola Unveils Ambitious Plan to Modernize Nigeria’s Ports The Minister of Marine and Blue Economy, Adegboyega Oyetola, has announced a comprehensive plan to modernize Nigeria’s ports, aiming to enhance efficiency, attract investors, and position the nation as a key player in the global maritime industry. Oyetola detailed the government’s commitment to upgrading port infrastructure and…