The government of UK is set to invest over US $65.7m into renewable energy projects in Africa, as it works with selected African countries to develop sustainable energy sources. The approved projects include solar farms in Kenya, geothermal power stations in Ethiopia and clean energy storage in sub-Saharan Africa. The countries will receive funding and…
Jersey Oil and Gas is back on the hunt for partners to develop its Verbier discovery after energy giant Equinor decided to sell back its 70% stake. Equinor bought into the P2170 licence in the outer Moray Firth in 2016, but has decided to sell after “disappointing” results from an appraisal of the field in April. The…
Weak natural gas and LNG prices will put a dent in the full year earnings of Shell and BP when the supermajors report their results in the next two weeks, an analyst has said. Iain Armstrong, equity analyst at Brewin Dolphin, said prices had been driven down by a global glut of LNG, while slower…
Construction works on Kunzvi Dam project in Zimbabwe is set to commence this year. Mashonaland East Provincial Affairs Minister Aplonia Munzverengwi made the revelations and said feasibility studies on the project is complete. The Provincial Affairs Minister also pointed out that US $259m has been allocated for the project in the 2020 National Budget. Overall…
The Standard Chartered, an international banking group, has issued a study that looks at the most impactful opportunities for investing in three infrastructure-focused Sustainable Development Goals, SDGs in five high-growth markets in Africa. The Opportunity2030 reveals a $197 billion opportunity for private-sector investors in five high-growth markets in Africa to help achieve the UN’s Sustainable…
Stakeholders will sign an agreement with Chinese lenders by Q2 2020 to fund the country’s biggest pipeline project Nigeria will close a $2.5bn financing agreement with Chinese lenders by the start of the second quarter of 2020 to fund the single biggest gas pipeline project in the country’s history, after months of holding talks with China on financing a project seen as being central…
Port Harcourt Electricity Distribution Company (PHED) will on Feb. 1 begin the implementation of 7.5 per cent Value Added Tax (VAT) to customers in four states. The states are Akwa Ibom, Bayelsa, Cross River, and Rivers states. PHED Manager, Corporate Communications of the company, John Onyi, confirmed this in a statement issued in Port Harcourt…
*******Warns discos against unlawful meter decommissioning Caption: L-R: Engr. Aliyu Tukur, GM, Technical Standard and Inspection Services, NEMSA, Director-General of NAPTIN, Mr Ahmed Nagode, Patel Dharmedrakumar, System Engineer Trainer, ZERA limited, MD/ Chief Electrical Inspector of the Federation, NEMSA Mr Peter Ewesor and MD/CEO, Turbo Energy Ltd., Zera GMPH Germany Representative in…
Chibuike Rotimi Amaechi, minister of Transportation, has announced that Ship owners will now benefit directly from the $200 million Cabotage Vessel Financing Fund (CVFF). A committee chaired by Dr. Dakuku Adol Peterside, director general, Nigerian Institute of Maritime Safety and Administration (NIMASA), has also been set up with guidelines for disbursement of the funds. Amaechi…
By Ikenna Omeje The Nigerian Electricity Regulatory Commission (NERC) has urged electricity customers denied opportunity of acquiring meters under the new regulatory framework, on account of outstanding estimated bills, to report their Distribution Company (DisCo) to the commission. The commission said that it is committed to closing the metering gap in the country by eliminating…
