Nigeria Electricity Regulatory Commission (NERC) Chairman Prof. James Momoh yesterday vowed to review the prevailing electricity tariff. Speaking with reporters after the Minister of Power, Works and Housing, Babatunde Fashola inaugurated him in Abuja, he said the commission would look into the computation of the tariff. He said: “The tariff is not a challenge you […]
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Investors in Aje oilfield, offshore Lagos, have announced a significant increase in its reserves as well as a confirmation of the viability of the Aje gas development. Yinka Folawiyo Petroleum Company Limited, a wholly-owned indigenous firm, is the operator of the Oil Mining Lease 113, where the field is located. Other partners are Pan Petroleum […]
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The Petroleum and Natural Gas Senior Staff Association of Nigeria on Tuesday asked the Federal Government to make it mandatory for international oil companies operating in the country to build refineries. In his May Day 2018 message, PENGASSAN’s President, Olabode Johnson, said there should be a legal framework that would compel the IOCs to refine […]
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The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has announced it would exit gas flaring in two years time. Baru made the announcement while delivering the lead paper on a panel session at the ongoing 50th Offshore Technology Conference (OTC), in Houston, United States of America. The corporation’s Group […]
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The Federal Government has disclosed that it has concluded arrangement to establish five oil and gas parks in five oil producing states. Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, stated this at the weekend while performing the ground-breaking of the Nigerian Oil and Gas Park being developed by the Nigerian Content Development and […]
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Bahrain on Wednesday announced its newly discovered shale oil reserve was estimated to contain more than 80 billion barrels, making the once-marginal oil producer potentially a major player in the market. The amount of recoverable oil — or oil that can be extracted — is still under study, Oil Minister Sheikh Mohammed bin Khalifa Al-Khalifa […]
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An oil spill off Borneo island that led to five deaths and the declaration of a state of emergency was caused by a ruptured undersea pipe, Indonesia’s national oil company Pertamina said Wednesday. The leakage, which started in waters near Balikpapan city early Saturday, has spread at least 26 kilometres (16 miles) and coated large […]
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Emissions regulated under Europe’s carbon market rose for the first time in seven years in 2017 due to stronger industrial output, data published on Tuesday by the European Commission and examined by carbon analysts at Thomson Reuters showed. Around 45 percent of the European Union’s output of greenhouse gases is regulated by the Emissions Trading […]
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About four power generation plants that are capable of adding 1,262MW of electricity to the power grid are primed to commence operations in the next two months, operators of the facilities have disclosed. It was gathered that three of the plants, under the National Integrated Power Projects currently being managed by the Niger Delta Power […]
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Nigeria’s refining capacity may soon be increased by 10,000 barrels per day (bpd) as Energia Limited has reopened talks with investors over its planned refinery project. Managing Director and Chief Executive Officer (CEO) of the company, Mr. Felix Amieye-Ofori, stated this when Executive Members of the National Association of Energy Correspondents (NAEC) paid a courtesy […]
Read More Total’s renewable energy unit said on Monday it had opened the world’s largest solar-thermal hybrid plant in Burkina Faso, the first of what it hopes will be many projects supplying the African mining industry’s growing need for power. Total Eren and Africa-focused independent power producer AEMP inaugurated Essakane Solar over the weekend, adding 15 megawatts […]
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Fishing boats look like specks alongside Egina, which has been moored for the last month in Lagos. Even the container ships that normally dominate the port look like small boats. The floating production storage and offloading facility (FPSO), developed by the French group Total, looks a lot like a giant Lego set. Everything about it […]
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