The Nigerian Electricity Regulatory Commission (NERC) says only three out 11 Electricity Distribution Companies in the country had metered more than 50 per cent of electricity customers under their coverage areas as at June 2019. NERC, the regulator of the power industry, said the DisCos were Abuja Electricity Distribution Company , Benin Electricity Distribution Company…
Throughout 2019 Africa has led licensing round activity; looking forward to 2020 this is set to continue, however results of the recent rounds have had limited success in a global context, according to GlobalData, a leading data and analytics company. The company’s report, ‘Q4 2019 Global Bid Round Outlook – US Dominating Current & Upcoming…
By Ikenna Omeje President Muhammadu Buhari has appointed Sarki Auwalu as the substantive director of the Department of Petroleum Resources (DPR). He is to replace Ahmed Shakur who was appointed Acting Director of the regulatory body in June this year following the expiration of the tenure of the former Director, Mordecai Ladan. This was contained…
French oil major Total said production at its 253,000 barrel-per-day Gonfreville Normandy refinery in northern France was partially halted following a fire that broke overnight. Deliveries of refined products are continuing and petrochemical units are operating normally, the group said in a statement. The fire that broke out at 0300 GMT at Gronfreville, Total’s biggest…
Indigenous oil and gas companies have accessed 70 percent of the Nigerian Content Development Monitoring Board, NCDMB’s, $200 million local content fund. This was revealed by the Board’s General Manager, Corporate Communications & Zonal Coordination, Dr. Ginah O. Ginah at the capacity building workshop for media stakeholders in Lagos. The Nigerian Content Intervention, NCI, fund…
The National Inland Waterways Authority, NIWA, has commenced moves to reduce the rate of boat accidents across the country with a view to making water transport a preferred mode of transport. The agency also said that it will sanction owners of rickety boats and enforce the laws on boats that not compliant to safety standards….
A call has been made to the Federal Government to reduce the cost of establishment of the proposed modular refinery, in order to enable repentant artisanal refiners in the Niger Delta own the facilities. Non-governmental groups known as Youths and Environmental Advocacy Centre, YEAC, and the Society for Women and Youths Affairs, SWAYA, said…
FOLLOWING the institution of the Marine Vessel Categorization Scheme with a view to increasing local participation in the marine service sector, the Nigerian Content Development and Monitoring Board, NCDMB has said that Nigerian ownership of marine vessels currently stands at 40 percent. Speaking at the just concluded naming ceremony of a newly acquired marine vessel…
Nigerian oil and gas company Seplat has completed its purchase of Aberdeen based company Eland Oil & Gas for £382m. The deal was first announced in October 2019, with Seplat valuing Eland at 166p a share. Following that announcement, the acquisition had to be approved by 75% of Eland shareholders. It also had to be…
Minister of State for Transportation, Gbemisola Saraki, has said that the Federal Government will continue to create the enabling environment for businesses to strive just as it will also continue to remove hurdles that will not allow for smooth business operations in the maritime sector. Speaking at the christening of a newly acquired vessel, Team…