Energy

Nine varsities to get powered with solar energy

The Federal Government is to power nine universities with solar energy, the Minister of State for Environment, Ibrahim Usman Jibril, has said. He said this is in line with government’s efforts to ensure a clean and healthy environment through the issuance of sovereign green bonds. He made the submission last week when he paid a […]

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It is time to prioritise gas in Nigeria, says NLNG chief

The Managing Director and Chief Executive Officer of Nigeria Liquefied Natural Gas Limited (NLNG), Tony Attah, has said time has come for the country to use gas as catalyst for industrial and economic transformation and become a great gas producing country. Attah stated this when the Minister of Information and Culture, Alhaji Lai Mohammed, paid […]

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Nigeria’s oil production crunches, active rigs rise

Nigeria, which again lost its Africa’s top oil producer status to Angola in January, has recorded further decline in its crude oil production, a new report from the Organisation of Petroleum Exporting Countries has indicated. OPEC, in its Monthly Oil Market Report for March 2017, put crude oil production from Nigeria at 1.526 million barrels […]

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Nigeria investigation into ENI unlikely to affect mandate – CEO

The CEO of Italian oil and gas producer ENI says he does not expect that corruption investigations into a Nigerian oil field contract will impact a decision on renewing his mandate. CEO Claudio Descalzi said Wednesday that he didn’t think investigations in Milan and Nigeria would impact the decision, but added “you need to ask […]

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Transcorp Power inaugurates $28 million gas turbine plant

Transcorp Power Limited, a subsidiary of Transcorp Plc, on Monday inaugurated the 115-megawatts Gas Turbine 15 at its Ughelli Power Plant, bringing the capacity of the plant to 620MW. The company said in a statement that the inauguration of the $28.3m turbine was part of its commitment to generate 25 per cent of Nigeria’s total […]

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Fayemi

Nigeria to sell Ajaokuta to private operators

The Federal Government has said it will sell the Ajaokuta Steel Complex to a private sector operator with the capacity to turn around the fortunes of the beleaguered company. The Minister of Mines and Steel Development, Dr. Kayode Fayemi, said this during a visit to the Abuja Steel Mill, according to a statement issued on […]

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Military, others top power firms debtors with N51 billion

The top 100 customers of power distribution companies in Nigeria owe the firms N51bn, the Federal Government has said. It stated that the main debtors were the military and defence installations across the country, adding that the amount was arrived at after the verification team on the ongoing audit of the debt owed the power […]

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Oil drops to 3-month low as Crude Stock rise globally

Oil tumbled on Tuesday after OPEC reported a rise in global crude stocks and a surprise output jump from its biggest member, Saudi Arabia, further pressuring prices that have now erased nearly all gains since OPEC announced output cuts in November. Even though OPEC made an upward revision to its global demand outlook, signs of […]

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Saudi says ‘committed’ to global oil market stability

Saudi Arabia is committed to stabilising the global oil market, the energy ministry of the world’s biggest oil exporter said on Tuesday, as prices fell below $48 a barrel. OPEC and non-OPEC countries last year pledged to reduce output by around 1.8 million barrels per day (bpd) as part of a concerted effort to curb […]

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Vandalization to hinder Nigeria from OPEC‘s oil production exemption

Nigeria may lose the oil production exemption granted it and Libya by the Organisation of Petroleum Exporting Countries (OPEC) as a result of production disruptions, report revealed. These disruptions were occasioned by attacks on infrastructure in the two countries. Nigeria’s exemption may have to go because the peace moves of the Federal Government in the […]

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Century begins construction of 2000Mw thermal plant

Century Power Limited, a subsidiary of the Obijackson Group, owners of Nestoil Limited, plans to start the construction of a-2000megawatts (Mw) thermal power plant in Anambra State. According to report, the power plant, which will be sited at Okija in Anambra State, has been structured in such a way that the first phase, which will […]

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Rivers state support call to move oil firms to Niger delta

Nigeria’s southern oil-rich Rivers state on Saturday backed a government call for major oil companies to move their offices to the Niger delta region, as part of measures to stem unrest in the oil-rich area. Attacks by rebels seeking a fairer share of Nigeria’s multi-billion-dollar oil wealth for local residents have slashed output and hammered […]

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