Several global investors who have shown interest in investing in the rehabilitation and even building of refineries in Nigeria have been shut out on the back of the Federal Government’s firm stance on securitisation of the funding options for the would-be investors. The Federal Government is seeking a guarantee and securitisation of funding options of…
The federal government has begun renegotiating Production Sharing Contracts (PSC) on deep offshore oil blocks with Royal Dutch Shell, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said. A report yesterday by Financial Times quoted Kachikwu as saying that Shell’s current PSC would expire in 2023, while the PSCs of other international…
Lekela, the renewable power generation company that delivers utility-scale projects across Africa, today welcomed a landmark delivery of Vestas wind turbine components into Port Autonome de Dakar. The parts, which are now being transported by road, represent the delivery of generation equipment for Parc Eolien Taiba N’Diaye (PETN). This milestone for the 158.7MW wind farm…
Local entrepreneurs will get special seminar to build their capacity for utilizing business opportunities that will be availed by the 2,100-MW hydroelectric project at Stiegler’s Gorge on the Rufiji River. The seminars would be organised by the Tanzania Private Sector Foundation (TPSF), the National Economic Empowerment Council (NEEC) and Energy and Water Utilities Regulatory Authority…
The Nigerian independent Conoil Producing, is struggling with declining production, less than a year it all seemed that the only way the company’s output could go was up. Conoil’s current daily crude production is 14,000 Barrels Per Day, a 30% drop from the 20,000BOPD it achieved in April 2018 and which it maintained for most…
Niger Delta Exploration and Production plc, an indigenous oil company and marginal field operator, says its upgraded 11,000 barrels per day capacity modular refinery will go into full production in July this year with Jet A fuel as one the additions to its production. If the plan carries through, it will come as great relief…
Lagos — Minister for Power, Works, and Housing, Babatunde Fashola, has, in the long run, bowed to Distribution Companies, DisCos’ pressure over allowing potential customers under their jurisdictions, to independently source for electricity outside theirs, a process is widely known as Eligible Customers, EC. The DisCos had since the introduction of EC, argued that the process…
London –– Asian liquefied natural gas (LNG) prices slumped this week on a flood of spot volumes amid subdued demand. Prices for delivery into northeast Asia in July are estimated at $4.50 per million British thermal units (mmBtu), the lowest level in seven weeks. The August price is in a slight contango but is also…
Shanghai/Singapore — PetroChina is bucking normal practice and raising its wholesale natural gas prices during the weak-demand spring season, several sources said, preparing for the coming consolidation of China’s pipeline assets and trying to recoup huge fuel import losses. The increases from PetroChina – which supplies more than 70 percent of China’s gas – come as…
THE National Bureau of Statistics (NBS) on Friday announced that 4.87 billion litres of Premium Motor Spirit (PMS), popularly known as petrol were imported into the country in the first quarter of this year. The NBS made the disclosure in its Petroleum Products Imports and Consumption (Truck Out) Statistics for First Quarter, 2019, posted on…
