Plans by Nigerian government to fix Nigeria’s moribund refineries and make them work in utmost capacity will not materialise until 2020, Ibe Kachikwu, Nigeria’s oil minister has said. Dr Kachikwu spoke in Lagos on Monday at the 18th edition of the International Biennial Health Safety and Environmental (HSE) Conference on the oil and gas industry…
Nigeria will lose an estimated $6 billion in revenue to international oil companies, Shell and Eni, over the deal on the controversial oil block, widely known as Oil Prospecting License (OPL) 245. icirnigeria.org reported the new findings quoting a report by Global Witness called Take The Future. According to icir.org, leaked emails and confidential documents…
Damilola Shittu – Abuja The over N60bn revenue shortfall in the books of power distributors is slowing down the distribution of electricity across the country. According to the Nigerian Electricity Regulatory Commission (NERC) in its most recent quarterly report released in Abuja, power distributors recorded a revenue shortfall of N64.5bn in the first quarter of…
By Oke Peter The President-General of the Senior Staff Association of Electricity and Allied Companies (SSAEAC), Dr Chris Okonkwo has charged members of the association to always address their grievances in a civilised manner to ensure harmonious relationship with their employer. Dr Okonkwo gave the charge in his opening remarks, during a day seminar themed:…
In recognition of its Health, Safety and Environment (HSE) initiatives and innovative approach in educating Nigerians through the use of its proprietary Power Play game, Ikeja Electric Plc (IE) has won the Corporate Pacesetter (Power Sector) and HSE Campaign of the Year awards. The prestigious awards were presented to the company at the 2018 Nigeria…
The sustainability of Africa’s marginal oil field producers came under evaluation in London at the weekend, where an energy expert, Professor Anthony Adegbulugbe harped on the need to leverage on other unique opportunities in the oil and gas business beyond only upstream activity. Adegbulugbe, who doubles as the Chairman of Green Energy International Limited, gave…
The downward slide of crude price may hamper current economic prospects in the country, particularly if the development refuses to abate, oil and gas analysts have said. The prices of oil had fallen on Friday with Brent oil inventory for January delivery, sliding 6.1 percent to $58.80 per barrel, while West Texas Intermediate (WTI) dropped…
Nuclear technology experts on Friday urged African countries to accelerate development of Nuclear Power Plants (NPP) and other technologies to reduce energy deficit and speed up development of the continent. The experts made the call in an interview with the News Agency of Nigerian (NAN) in Tomsk, Russia. They said it was cheery, African countries…
Although the Nigerian Government is yet to prosecute and convict many individuals and entities involved in the alleged monumental fraud running into billions of Naira in the controversial Oil Prospecting Lease 245, the United Kingdom has returned the sum of $73 million seized in connection with the fraud to the Nigerian Government. However, the name…
By Oke Peter The Director General, Bureau of Public Enterprises (BPE), Mr Alex Okoh, has declared that contrary to insinuations in some quarters, there is nothing ongoing in terms of contract or license renewal for any of the Distribution Companies (Discos), including Benin Electricity Distribution Company (BEDC) Plc. Speaking during a press briefing in Benin,…
