The Nigerian Maritime Administration and Safety Agency has said that it achieved a level of success on the discussion around the migration from Free On Board to Cost, Insurance and Freight trade terms for the nation’s crude oil. The agency added that this migration would enable indigenous shipowners and the economy benefit from the nation’s…
OVH energy marketing Limited has announced its acquisition of brand new aircraft fueling bowsers as part of its expansion plans to deepen its service offerings in providing fueling solutions to players in the aviation industry. Manufactured by Flightline UK, the bowsers are equipped with latest technological and safety standards certified by the Joint Inspection Group…
THE country first wind powered electricity is expected to be set in Makambako in Njombe Region and the project development, spearhead by Windlab Development Tanzania, is progressing well. The project, Miombo Hewani Wind Farm, is a planned 300 megawatts in wind-powered power station in three phases of 100MW each. The project phase one set to…
Consumers are in for a shock at the pumps as the price of petrol is set to increase by 74 cents a litre from Wednesday. The Department of Energy on Monday announced fuel hikes of 74 cents a litre for both grades of petrol 93 (ULP and LRP) and 95 (ULP and LRP). In its…
The Nigerian National Petroleum Corporation (NNPC) has expressed its preparedness to build additional Independent Power Plants (IPP) in Abuja, Kaduna and Kano which is expected to add 4, 0000 megawatts of power to stabilize the national grid. The National Oil Company also disclosed that it would construct a Fertilizer Project in Brass, Bayelsa State. Chief…
Nigeria earned a total of N5.54tn from oil revenue last year, figures obtained from the Central Bank of Nigeria revealed. The N5.54tn revenue was earned through three major oil revenue sources. They are crude oil/gas sales, petroleum profit tax/royalties and others. A breakdown of the N5.54tn oil revenue showed that the sum of N1.28tn was…
Three years after the Kenya Pipeline Company took over the Kenya Petroleum Refinery Ltd in a government-forced merger, the lease under which the union was created is set to expire in March. This creates uncertainty about the operations of KPRL, which was converted into a storage facility after halting refining operations in 2013. Since the…
Eco (Atlantic) Oil & Gas Ltd, an oil exploration-focused company with licences in offshore Guyana and Namibia, has been granted a one-year extension to the first renewal exploration period on all of its Namibia Licenses to March 2019 by the Namibian Ministry of Mines and Energy. Each license will automatically enter the second renewal period,…
Africa’s first solar-powered seawater desalination plant, the OSMOSUN plant, designed by Mascara and located in Witsand, in the Hessequa municipality, in the Western Cape, has produced more than 10 000 kℓ of drinkable water. The plant has been fully operational since December 20, 2018, providing the local population with a steady water supply, especially over…
FluidOil and National Oil Corporation (NOC) are pleased to announce that a Memorandum of Understanding (“MOU”) has been signed between FluidOil and National Oil Corporation of Libya to evaluate the development of the Haram heavy oil field. This evaluation will focus on using the latest heavy oil production techniques in conjunction with FluidOil’s VHTL on-site…
