Tanzania and Zambia plan to build a refined products pipeline to transport petroleum between the two countries at a cost of $1.5 billion, Tanzania’s Energy minister said on Tuesday. Zambia, Africa’s top copper producer, imports most of its petroleum requirements, mainly from the Middle East, through the port of Dar-es-Salaam in Tanzania. Medard Kalemani said…
Nigerian crude oil differentials were underpinned on Tuesday due to recent outages in the country but tenders continued to dominate activity. Less than 10 June-loading cargoes of Nigerian crude were still available. Nigeria’s major Trans Forcados pipeline resumed normal operations on Friday after being shut down for a few days due to a nearby fire….
The Federal Government on Tuesday said it will reduce all shares in Joint Ventures (JVs) to 40 per cent this fiscal year. President Muhammadu Buhari, according to budget document, said the Nigerian National Petroleum Corporation (NNPC) will own 40 per cent shares in the JVs. “Buhari ordered the government to reduce all shares in joint…
Wife of the President, Aisha Buhari, says the Social Investment Programmes (SIP) coordinated by Maryam Uwais, a Special Adviser to the President on Social Investment, failed in the North. The SIPs are; the N-Power, Conditional Cash Transfers, National Home-Grown School Feeding and Government Enterprise and Empowerment Programmes (GEEP). Speaking at an interactive forum at Aso…
The 28th World Gas Conference (WGC 2021) takes place in Daegu, the energy city of Korea and home to the headquarters of KOGAS, in June 2021. Owned by the International Gas Union (IGU) and hosted by the Korea Gas Union, the event’s core aim is to promote the role of natural gas in a sustainable…
Townhall engagements to sensitize shop owners on the solar power system deployed at the market, its benefits, productive usage and energy conservation was conducted across Ondo, Edo and Ogun state markets under phase 1 of the Energizing Economies Initiative. The townhall engagement kicked off at Edaiken market in Edo State on 14th May, 2019 while…
Nigeria will issue a green bond of up to 15 billion naira ($49 million) to fund environmental projects, the country’s debt office said on Monday. The government had previously said it was planning a bond programme for environmental projects as part of its move to align with a global push to expand the market for…
The Nigerian Electricity Regulatory Commission has highlighted the need for electricity distribution companies to develop plans to improve their performance. NERC has released guidelines for the preparation of performance improvement plans by Discos. “In pursuit of the Power Sector Recovery Programme, the commission is implementing a more robust tariff review process aiming at improving the…
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…