The former Minister of State for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu has said the federal government’s reforms in the petroleum sector in the last four years yielded over $130 billion foreign investments and commitments aimed at growing the sector. Speaking in an interactive session with a group of editors in Abuja, Dr. Kachikwu said…
The Mini Grid Minimum Subsidy Tender aims to kick-start the Nigerian market and catalyze mini grid deployment at scale. mini grid developers will compete on the basis of quality (technical proposal) and price (minimum subsidy requirement) to build, own, and operate solar hybrid mini grids. The REA will provide the minimum subsidies required to the…
The Country Manager, Eaton Nigeria, Temitayo Awojole, has expressed the desire of the company to provide cheap and alternative source of electricity through its micro grid solution as part of measures to address the country’s poor power supply. Awojole, who disclosed this at a meeting in Lagos, noted that the micro grid solution was a system that works…
Mozambique’s Rovuma LNG project has secured government approval, ExxonMobil’s Mozambique Rovuma Venture announced on Tuesday. The project involves construction of two LNG trains with a combined capacity of 15.2 million tonnes per year and will be fed by gas from Mozambique’s offshore Area 4 block. A final investment decision for the project is expected later…
Italian player Eni has found 45 metres of net light oil pay offshore Angola, the super-major said in a press release on Tuesday. The discovery was made in deepwater Block 15/06 through the Ndungu-1 NFW well, drilled to a total depth of 4,050 metres by the Poseidon drillship. The well could produce more than 10,000 bopd. “Being…
The Federal Government is coming up with a policy that will remove the ownership of Liquefied Petroleum Gas (cooking gas) cylinders from consumers. It stated that the move would help deepen the use of LPG, popularly known as cooking gas, adding that the government had reached an agreement with two original cylinder manufacturers to deliver…
There is tension in the Nigerian National Petroleum Corporation (NNPC) over the retirement and deployment of 30 officials, which was approved by the Group Managing Director, Dr. Maikanti Baru. There were fears that the corporation was losing good hands to mediocrity and subservience. It was also alleged that the ongoing recruitment, if it follows a…
A fresh indication has emerged that a final Investment Decision, FID, for Amukpe to Escravos 160,000 barrels of oil per day (bopd), alternate export pipeline has been taken. This will provide a third export option for liquids production at Oil Mining Licences, OMLs, 4, 38 and 41 and will be coming on stream in the…
The humanitarian crisis in the North-east part of the country has received the attention of the United Nations (UN) Nigerian Humanitarian Fund- Private Sector Initiative (NHF-PSI) made up of some key private sector operators, as they have initiated moves to galvanize a new wave of donor support for the displaced persons in the volatile region….
Lawmakers in Nigeria’s upper house of parliament on Thursday approved a 129 billion naira ($422 million) payment to cover debts to local oil firms related to a fuel subsidy programme. The Senate listed 67 companies that will get a portion of the payment. The government has struggled for years to make timely subsidy payments to…
