The Nigerian Liquefied Natural Gas Limited (NLNG) is planning to hire Nigerian companies to develop Train 7 gas project expected to commence soon to increase gas production to 30 million tonnes yearly. The project which would cost over $4 billion dollars is designed to improve on the present production of 22 million tonnes per annum…
Oil prices slumped to 2018 lows on Friday in thin but volatile trading, dropping over concerns of a global supply overhang amid a bleak economic outlook. Even plans by the Organisation of the Petroleum Exporting Countries (OPEC) producer group to start withholding supply in 2019 to rein in any glut did not provide much support…
By Oke Peter The Nigerian National Petroleum Corporation (NNPC) says it is devising new ways to attract more funding for operators in Nigeria’s oil and gas industry to launch them into a new phase of exploration. The operators have been grappling with funding challenges which has cut down investment in oil exploration. Group Managing Director…
By Esther Abiola The Benin Electricity Development Company (BEDC) on Wednesday blamed its inability to provide services to about 200,000 customers on the failure of Transmission Company of Nigeria (TCN’s) to fix some of its faulty transformers. Its Managing Director, Mrs. Funke Osibodu, who disclosed this while interacting with newsmen in Benin City, listed the…
By Tsvetana Paraskova The UK’s Business, Energy and Industrial Strategy Minister Claire Perry said on Tuesday that “solar power should not be provided to the grid for free,” signaling that the UK government may introduce changes to its plans to end the generation tariff and the route to market tariff, the so-called export tariff, for…
French oil giant Total has called for enforcement of use of life jackets by sea farers before embarking on trips on waterways to minimise accidents. The Executive General Manager, Corporate Social Responsibility of Total Upstream Companies in Nigeria, Mr Vincent Nnadi, made the call at the 2018 Marine Safety Awareness Campaign for River Niger waterways…
Since the adoption of a global agreement on the reduction of climate change, popularly called ‘Paris Agreement’ at the 21st annual session of the Conference of Parties (COP) to the 1992 United Nations Framework Convention on Climate Change (UNFCCC), in December 2015 in Paris, France. Negotiators have been struggling with the aim of setting in…
Damilola Shittu – Abuja Nigerian power sector said it lost approximately N1.287 billion on Saturday due to insufficient gas supply, distribution and transmission infrastructure. On the same day, average energy sent out was 4,157 megawatts/hour, which was down by 89.19MW from the previous day. This was contained in the Nigerian power sector daily data…
Russia is planning to sign a partnership agreement with Organisation of Petroleum Exporting Countries (OPEC), Energy Minister Alexander Novak said on Monday. Novak said the deal would be discussed at the OPEC December 6 meeting. The News Agency of Nigeria (NAN) reports that on September 11, Novak said that he believed OPEC and their allies within…
Oil marketers on Sunday appealed to Federal Government to effect quick payment of its outstanding N800 billion subsidy debts. The marketers, under the aegis of Major Oil Marketers Association of Nigeria (MOMAN) and Depot and Petroleum Products Marketers Association (DAPPMA), made the appeal in a joint interactive session with journalists in Lagos. They urged government…
