The Electricity Distribution Companies (DisCos), have appealed to the National Assembly to intervene in the current liquidity crisis in the power sector. Mr Sunday Oduntan, the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED) made the appeal in a statement in Abuja on Wednesday. The Nigeria Electricity Regulatory Commission (NERC) had recently…
The U.S. has canceled 190 million dollars in grants to Ghana under the “Power Africa” initiative in response to the Ghanaian government’s termination of a contract with a private utility provider, the U.S. embassy said. The Millenium Challenge Corporation (MCC), a U.S. government foreign assistance agency, agreed in 2014 to provide 498 million dollars in…
A power expert, Mr Kola Balogun, has urged the new ministers to setup a team of experts to create a performance driven criteria for the entire power sector value chains mostly especially the Discos Balogun said there is need for the Federal Government through the Ministers to set a roadmap to address generation, distribution and…
Seplat Petroleum Development Company Plc last week sent positive signals to the capital market community and other stakeholders indicating the company’s determination to be a leading player in the oil and gas industry. The indigenous company, which listed on the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE) in 2014, said its board had…
The Deputy Leader of the Senate, Senator Robert Ajayi Borofice, told JOHN AKUBO that the commended Deep Offshore and Inland Basin Production Sharing Contract (PSC) law will give Nigeria additional US$1.5 billion for funding the 2020 budget, and warned that the National Assembly will resist attempts by oil companies to create crisis in order to disrupt concurrence…
Sudanese Minister Adel Ali Ibrahim will meet with his South Sudanese counterpart Minister Awow Daniel Chuang at South Sudan Oil & Power 2019. On the agenda will be the resumption of Block 5A and logistics corridors between the two countries. Sudan has been a key role player in facilitating peace in South Sudan. In…
23 October 2019, Production from French oil major TOTAL’s 205,000b/d EGINA oil field off the coast of Nigeria started in December 2018, resulting in a 10% rise in the country’s oil output. Located some 130km offshore at depths of more than 1,500m, EGINA is an ambitious, ultra-deep project. Samsung Heavy Industries (SHI)’s wholly owned subsidiary-…
Oil prices fell on Monday on concerns about slackening global demand that outweighed bullish signals from Europe, where fears of an economically damaging no-deal Brexit have eased. Global benchmark Brent crude oil LCOc1 was down 30 cents to 59.12 dollars a barrel by 0905 GMT. U.S. West Texas Intermediate crude oil CLc1 declined 11 cents…
The Department of Petroleum Resources (DPR), Ibadan, says it has sealed 167 filling stations in Oyo State within 10 months for various infractions. The DPR Operations Controller, Ibadan, Engr. Oluyemi Olaonipekun, disclosed this on Tuesday in Ibadan during a surveillance carried out by the management team of the agency. Olaonipekun said it is pertinent for…
Insists Navy, NIMASA, statutorily required to secure country’s waters Shipping companies hail move Concerned by threat to national security and the cost of doing business at the country’s seaport, the Nigerian Ports Authority (NPA) has notified the Nigerian Navy of its decision to dismantle the Secure Anchorage Area (SAA), operated on behalf of the Navy…
