Oil prices rose on Monday as markets were expected to tighten once U.S. sanctions against Iran’s crude exports are implemented next month. Front-month Brent crude oil futures were at $79.99 a barrel at 0558 GMT, up 21 cents, or 0.3 per cent, above their last close. U.S. West Texas Intermediate (WTI) crude futures were at…
Nigeria will miss out on a total planned capital expenditure (capex) of US$3.3 trillion across the oil and gas value chain from 2018 to 2025 unless it carries out over due reforms of the sector. The country is already missing out as total capex of US$545 billion is expected to be spent in 2018 but…
The anti-vandal unit of the Lagos state command of the NSCDC has so far arrested 59 suspected vandals in the last 9 months Of 2018. According to the state commander, Tajudeen Balogun, out of the number, 14 convictions have so far been secured this year and the sentences ranged from 6 months to 10 years…
The International Atomic Energy Agency (IAEA) said Nigeria’s economy will develop on completion of its nuclear energy power plant, which will provide at least 4,000 megawatts (Mw) in the country. The firm, based in United States, in a study said the Nuclear Energy Plant (NPP), which will be located in the eastern and other parts…
Managing Director/ CEO of Eroton E&P, Ebiaho Emafo, in an interview with BusinessDay, speaks about the dynamics of Nigeria’s gas sector and Eroton’s plans to grow its gas reserves. Eroton E&P won the bid for the 45% total interest in OML 18 previously held by Shell Petroleum Development Company, Total E&P Nigeria Limited and Nigerian Agip Oil…
Welcome, Majorwaves Readers. Here’s a sneak peek into last week’s energy events around what transpired in the three major sub-Saharan countries in Africa: Coming on the heels of the just-concluded Nigeria Gas Association’s conference, Abuja, where Nigeria’s gas players strategized on how to refocus the country on gas with the use of innovations, we are…
According to the Commission, out of about 17 oil blocks sold between 2013 and 2016, 13 of the blocks still exist without any exploration activity making the country lose huge investments in the sector. Answering questions on the development at a press briefing, Chief Executive of the Petroleum Commission, Egbert Faibile Junior disclosed that the…
Ghana may not be able to flourish like other oil producing countries even after a century, if the proceeds from its oil and gas sector are not properly accounted for. That’s according to the Chairman of the Public Interest and Accountability Committee (PIAC), Dr. Steve Manteaw. According to him, the lack of transparency and accountability…
Ghanaian President Nana Addo Dankwa Akufo-Addo revealed last week that the country was now a net exporter of electricity. Akufo-Addo made the announcement in Burkina Faso’s capital, Ouagadougou, at the inauguration of the Bolgatanga-to-Ouagadougou Power Interconnection Project. The project will see up to 100 MW per day of electricity supplied from northern Ghana to Burkina…
The Minister of power, works and housing, Babatunde Fashola, on Thursday, said the electricity problem in Nigeria “is slowly being solved, one by one” and cannot be solved by magic. Fashola disclosed this during the inauguration of the 2x100MVA, 132/33kV power transformers at the Ejigbo Transmission Substation in Lagos and the handover of the expanded…
