An energy expert, Dr Damola Omole, Head, Power and Energy Strategy, Dangote Industries, says increasing electricity tariff will not solve the problems bedeviling the power sector in Nigeria. Omole said this on Wednesday at the ongoing Power Nigeria Agenda Exhibition organised by Informa markets in Lagos. He said that increasing the tariff would only amount…
The Lagos State Government has called on private investors to assist the state in the provision of 9,000 megawatts to enable it transform the economy of the state. Gov. Babajide Sanwo-Olu made the call at the Corporate Council on Africa Forum on the sideline of the ongoing 74th Session of the United Nations General Assembly…
The Nigerian National Petroleum Corporation (NNPC) has signed a novation agreement with Nigerian Agip Oil Company (NAOC) on Oil Mining lease (OML) 60,61,62 and 63. Nigerian Agip Oil Company (NAOC) Limited operates in the Niger Delta, under a joint venture arrangement with NNPC (60 per cent), NAOC (20 per cent), and Oando (20 per cent), The Group Managing Director of…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Malam Mele Kyari, said fossil fuel would remain relevant in the global energy mix. He said that this was contrary to assumptions that crude oil demand would be very high even beyond 2040. Kyari made the declaration, in a statement on Wednesday in Abuja by…
The Federal Competition and Consumer Protection Commission (FCCPC), has urged Kano Electricity Distribution Company (KEDCO) to stop extorting electricity consumers in the state. The Commission’s Executive Director, Mr. Babatunde Irukera disclosed this on Wednesday during a town hall meeting between consumers, electricity distribution company and stakeholders at BMC Event Centre in Dawakin Dakata in Kano….
Mr Nduka Ohaeri, the President of Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), has called on Abia government to expedite action in boosting infrastructure in the state. Ohaeri made the call on Wednesday when he led members of his association’s Central Planning Committee on a courtesy visit to Gov. Okezie Ikpeazu at the…
The Nigerian Content Development and Monitoring Board (NCDMB) has partnered with the Nigerian Maritime Administration and Safety Agency (NIMASA) and the National Inland Waterways Authority (NIWA) in the introduction of a revised Marine Vessel Categorization Scheme, designed to increase indigenous participation, manning and ownership in marine operations of the oil and gas industry. The scheme…
Mr Tein Jack-Rich, Founder and President, Belema Oil Producing Ltd., has assured OML-25 host communities of effective Corporate Social Responsibility (CSR) when operation resumes on the oil facility. Jack-Rich gave the assurance on Thursday in Kula, Akuku-Toru Local Government Area of Rivers, when he visited traditional rulers, leaders and women of OML-25 host communities. It…
The U.S. on Tuesday announced the imposition of sanctions against four companies operating in Venezuela’s oil sector as part of an ongoing pressure campaign against the government of Venezuelan President, Nicolas Maduro. The U.S. State Department disclosed this in a statement in Washington. According to the statement, sanctions target the mechanisms for exporting oil from…
Dr Cyrus Nkangwung, the South-South Zonal Director, National Oil Spill Detection and Response Agency (NOSDRA), says the agency is preparing its report on the possible cause of fire outbreak at an oil facility in Rivers. Nkangwung, who made this known on Monday in Port Harcourt, also gave an assurance that the findings would soon be…
