By Tsvetana Paraskova Nigeria will raise its crude oil production to 1.8 million bpd in 2019 from around 1.6 million bpd currently, the head of the Nigerian National Petroleum Corporation (NNPC) told Reuters on Tuesday. The African OPEC member also aims to increase its production of condensate—a type of ultra light oil—to 500,000 bpd…
Nigeria’s 3, 050 Megawatts Mambilla Power Plant will cost US$5.72 billion, the minister of Power, Works and Housing, Mr. Babatunde Fashola has said. He said arrangements were at an advanced stage to secure the funds from the Chinese government in the form of loans. The News Agency of Nigeria (NAN) has reported. Fashola said at…
By Tsvetana Paraskova Nigeria is looking for the extradition of former oil minister and the first female president of OPEC from the UK to face trial in her home country, because a corruption investigation in Britain is taking too long, the head of Nigeria’s Economic and Financial Crimes Commission (EFCC) said on Monday. Diezani Alison-Madueke…
Investigation has revealed that the total electricity generation in the country has remained below 4,000 megawatts in recent months as low load demand by distribution companies tops the list of factors causing idle capacity in power stations. Data obtained from the Ministry of Power, Works and Housing on Monday showed that 2002.8MW was unused as…
An international end-to-end solar provider headquartered in Dubai, UAE, Phanes Group, has announced Mr Mbaye Hadj and his Gossas Solar Farm Project (30 MW) as the winner of the second edition of its solar incubator. The announcement was made at the “Unlocking Solar Capital: Africa” conference in Kigali, Rwanda, where three finalists presented their proposal…
By Tsvetana Paraskova Nigeria’s crude oil and condensate production stood at 2.09 million bpd in October, oil ministry data showed on Friday, with output down by some 70,000 bpd compared to September, due to increased sabotage attacks on oil infrastructure by oil thieves. In September, Nigeria’s crude oil and condensate production was 2.158 million…
By Oke Peter The Pre-Conference of Parties 2018 (Pre-COP 24) organised ahead of the United Nations Climate Change Conference (UNCCC) will hold at the United Nations Information Center (UNIC), Rewane Road, Ikoyi, Lagos, Nigeria on Wednesday, November 14 by 9.00 am. The event themed: NDCs score cards of nations: Nigeria at COP 24. The dialogue…
As part of its strategic aspirations to drive maximum value from Nigeria’s abundant natural gas resources, the Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Mailkanti Baru, has said the Federal Government was targeting 10 percent of the world’s market share in traded Liquefied National Gas (LNG). Baru, who stated this at NNPC…
No fewer than 500 employees are about to be dropped from the payroll of the Nigerian National Petroleum Corporation (NNPC) for reportedly failing to scale through a mandatory personnel assessment and promotion examinations the corporation recently conducted, THISDAY has gathered. Very reliable sources within the state oil company said the issue was already causing disquiet…
The estimated monetary loss in Nigeria’s power sector has risen to N460.3bn in 2018 alone. The data obtained from the Federal Ministry of Power, Works and Housing in Abuja on Friday showed that between January 1 and November 8, 2018, the sector lost N460.253bn. The Punch has reported. The FMPWH explained that the huge financial…
