Noble Corp. plc and ExxonMobil have executed a commercial enabling agreement for drilling services in the Guyana-Suriname basin. The ultra-deepwater drillship Noble Bob Douglas. (Courtesy Noble Corp.) Offshore staff LONDON – Noble Corp. plc and ExxonMobil have executed a commercial enabling agreement for drilling services in the Guyana-Suriname basin. The agreement defines contract terms for the continuation of drilling services using…
Investors are starting to question whether there is a need for further exploration in light of the huge resource base that has yet to be developed, according to consultant Wood Mackenzie. LONDON – Investors are starting to question whether there is a need for further exploration in light of the huge resource base that has yet to be…
By Oke Peter Organisers of the global investment meeting for Africa’s power, energy, infrastructure and industrial sectors, Africa Energy Forum (AEF), EnergyNet Limited has announced that the 22nd edition of the Africa Energy Forum will address SDG7 and Impact of Energy Investment. Africa Energy Forum brings together stakeholders in Africa’s energy sector to identify opportunities,…
The Chairman of Major Oil Marketers Association of Nigeria (MOMAN), Mr Tunji Oyebanji, who is also the Managing Director/Chief Executive Officer of 11 Plc (formerly Mobil Oil Nigeria Plc), has restated the need for the Federal Government to enthrone the right environment for the survival of the downstream arm of the petroleum industry. The downstream…
The Nigeria Electricity Regulatory Commission (NERC) has directed the 11 electricity distribution companies (DisCos) to hike their tariffs by average of 50 per cent on April 1. Ikeja Electric (IE) Plc, which made this known in a memo to the commission, noted that the directive is “in order to meet the tariff shortfall funding target…
Niger Delta Power Holding Company Limited (NDPHC) is partnering the Lagos State Government to improve supply of electricity. The agency will evacuate more than 300 stranded megawatts (Mw) and distribute it to consumers. However, there are concerns among stakeholders about its implementation. Niger Delta Power Holding Company Limited (NDPHC) and the Lagos State Government are…
The federal government has asked electricity distribution companies (DisCos) in the country to either show they have capacity or step aside for other investors. Sale Mamman, minister of power, gave the warning at the end of the federal executive council (FEC) meeting in Abuja on Wednesday. Mamman said the government cannot continue to subsidise electricity…
Mr Seun Ashamu, Oyo State Commissioner for Energy and Mineral Resources, says the state has begun efforts toward achieving independent power supply. Ashamu, who made the disclosure on Wednesday while speaking with newsmen in Ibadan, maintained that the options of building an independent power station were already being explored by the state. He also said…
The Department of Petroleum Resources (DPR) says no fewer than nine new Liquefied Petroleum Gas (LPG) plants will commence operation in Sokoto and Kebbi states soon. Mr Muhammad Makera, DPR Operations Controller in charge of Sokoto and Kebbi states on Tuesday in Sokoto. Makera said that DPR is the only statutory body responsible for registering…
Enugu State House of Assembly has urged the Federal Ministry of Power to review the monopoly being enjoyed by the Enugu Electricity Distribution Company (EEDC) in the South-East. The assembly also urged EEDC management to adhere to the Nigerian Electricity Regulatory Commission’s (NERC) provision on the rights of consumers in adherence to Part III, Section…
