Power distributors have declared that they are no longer responsible for the provision of meters to electricity consumers across the country. It was also gathered from the Discos that the monetary shortfall in Nigeria’s power had risen to over N1.4tn despite the marginal improvement in revenue collection by the electricity distributors on behalf of the…
The Ministry of Power, Works and Housing has asked the Nigerian Electricity Regulatory Commission (NERC) to admit new operators into the distribution and generation sectors of Nigeria’s electricity industry, to primarily stimulate competition in the two segments. According to a communique following a retreat, which was organised for its staff last week in Owerri, Imo…
… Confers Highest Disclosure Status On Corporation The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend with the conferment of the highest discloser status by the global extractive industries watchdog, Extractive Industries Transparency Initiative (EITI). The…
Despite increasing concerns, pipeline vandalism constitutes a major problem in Nigeria’s oil and gas industry. In this interview with Udeme Akpan, the chief technical officer, Nestoil and Neconde Energy Limited, urges oil companies to embrace Alternative Evacuation Technology, AET, to enable them sustain operations. How did you arrive at the Alternative Evacuation Technology? In February…
The Nigerian National Petroleum Corporation (NNPC) has again announced plans to revamp the nation’s four refineries to help the country save billions of dollars it expends annually on fuel imports. To this end, the corporation has awarded a contract worth about $50 million to Italy’s Maire Tecnimont to carry out checks and equipment inspections of…
ExxonMobil sponsors Smithsonian exhibition that celebrates Victor Green and his publication that allowed African-Americans to travel with dignity across a segregated country, and also highlight the success of many black-owned businesses that made these journeys possible EXXONMOBIL is to sponsor a Smithsonian Institution traveling exhibition showcasing the history of The Green Book, a guide…
Major oil and gas companies are increasingly highlighting the alignment of their corporate strategies with climate change goals. They are also pursuing major production growth projects, but the value risk to these investments from the energy transition is limited, according to GlobalData, a data and analytics company. The company’s latest analysis shows that planned and announced…
A new report by a non-governmental organisation, Global Witness, has blamed Shell and Eni for their alleged roles in the acquisition of OPL 245 in the oil-rich Niger Delta which is linked to Malabu oil scandal. The report alleged that Shell executives knew the deal they were asking for was not a Production Sharing Contract,…
Maikanti Baru, group managing director of the Nigerian National Petroleum Corporation says the country’s cash cow will be able to produce 2.3 million barrels per day which is the benchmark for budget 2019 THE Nigerian National Petroleum Corporation, NNPC, has said that the oil industry would achieve the 2.3 million barrel per day production volume-target for…
The Nigerian National Petroleum Corporation is considering extending the ongoing Ajaokuta-Kaduna-Kano gas pipeline system across the Sahara to Algeria in North Africa. NNPC’s Group Managing Director, Dr Maikanti Baru, disclosed this while receiving an award from the Petroleum Technology Association of Nigeria in Abuja. Baru said the consideration for the extension of the gas pipeline…