Nigeria is considering co-sharing refineries likewise operating joint ventures, JVs, with other African countries, according to a top official of the Ministry of Petroleum Resources. Dr. Folasade Yemi-Esan, Permanent Secretary in the ministry, revealed this as Head of the Nigerian delegation to the recent 176th meeting of the Organization of the Petroleum Exporting Countries, OPEC,…
The Nigerian National Petroleum Coeporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of Crude oil contract for 2019/2020. The corporation disclosed this in a statement issued by its spokesman, Mr Ndu Ughamadu, in Abuja, on Sunday. He said that the announcement was in line with the corporation’s…
The Association of Nigerian Electricity Distributors (ANED), has restated the commitment of Distribution Companies (DisCos) and the Federal Government to tackling challenges affecting retail electricity distribution in the country. Mr Sunday Oduntan , the Executive Director, Research and Advocacy of ANED made this known in a statement in Abuja on Sunday. Oduntan said the Federal…
The Nigerian Content Development and Monitoring Board (NCDMB) has inaugurated a Community Interface Committee (CIC) for the Nigerian Oil and Gas Park Scheme NOGaPS) located at Emeyal 1 in Ogbia LGA of Bayelsa State. The committee was set up to enhance the interface between the communities, the contractors and the Board and would ensure community…
Nigeria’s Federal Ministry of Petroleum Resources is set to host the 3rd Annual Nigeria Petroleum Summit (NIPS 2020). According to Dr. Folasade Yemi-Esan, Permanent Secretary, Ministry of Petroleum Resources in Nigeria, the countdown for the 3rd edition of the annual NIPS conference/exhibition has officially begun. The event which will take place in Abuja, the capital city of…
Nigeria Computer Society (NCS) has concluded plans to set up Innovation Development Fund to transform initiatives for sustainable entrepreneurship in ICT. The newly elected President of the group, Prof. Adesina Sodiya, said this on Friday in an interview in Abuja. He said the fund would be used to provide educational scholarships and sponsorship to attend…
Vice President Yemi Osinbajo says the Federal Government’s power sector reforms are already yielding results as steady progress is being recorded in power generation, transmission and distribution capacities on the national grid. Osinbajo’s spokesman, Laolu Akande, in a statement in Abuja, said the vice president spoke at the commissioning of the 2x60MVA, 132/33KV substation and…
Crude oil prices rose more than two per cent on Friday, recovering from two days of declines after data showing a rise in U.S. retail sales helped to ease concerns about a recession in the world’s biggest economy. Brent crude LCOc1 was up two at $59.48 a barrel at early trading, after falling 2.1% on…
Some experts in the oil and gas industry have identified style of governance, bad policies and lack of transparency, among the many challenges hindering development of Nigeria’s oil rich Niger Delta. The experts spoke after a documentary screening on the “Impact of Corruption and Conflict on Investments, in Energy Rich Niger Delta Communities’’, in Abuja,…
US Patent Office grants AW-Energy’s Patent Application for WaveRoller® technology. 20 year system fatigue life rating failsafe design maximises reliability, reducing maintenance and costly downtime next generation digital hydraulics provide efficient power generation to extract energy machine learning enabled to control and optimise system performance Finland, August 15, 2019: AW-Energy Oy, the world-leading Finnish…