Esther Ajibola – Abuja A bill seeking to amend the Electric Power Reform Act, prohibit and criminalise estimated billing of consumers passed the third reading at the House of Representatives on Tuesday. The Majority Leader, Mr Femi Gbajabiamila, sponsored the bill in protest against the “crazy bills” Electricity Distribution Companies force their customers to pay….
By Oke Peter Mr Mordecai Ladan, Executive Director, Department of Petroleum Resources (DPR) says the organisation generated N1.3 trillion as revenue and additional 200 million dollars from legacy indebtedness in 2018. Ladan made this known at the opening of a workshop on Revenue Generation, Accounting and Reporting Process to the Federation Allocation Accounting Committee (FAAC)…
4 mins ago 0 8 0 The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has urged government to revoke the licences issued to non-practising companies and individuals on modular and private refineries. The News Agency of Nigeria (NAN) has reported. The association in a statement urged the government to immediately revoke and…
Egypt plans to upgrade six oil refineries at a cost of about $9 billion over four years to increase domestic production to 41 million tonnes a year, the petroleum minister said. “We are trying to secure crude oil supplies for Egyptian refineries to increase local production of refined products,” the minister, Tarek El Molla, said…
The Nigerian National Petroleum Corporation (NNPC) has sought effective collaboration with members of the African Union of Transportation and Logistics Organisation to halt incidents of cross-border leakages of petroleum products. The corporation said smuggling of petroleum products remained a blight in the nation’s fuel supply and distribution matrix. NNPC Group Managing Director, Dr Maikanti Baru,…
Fernando Gonzalez is the Chief Executive Officer (CEO) of Cerro Dominador, a Concentrated Solar Power (CSP) Photovoltaic Plant in Chile, Latin America. He has over 20 years experience in the power industry, having worked at Private Equity, Fortune 500 and accounting firms in the United States of America (USA), United Kingdom and Argentina. Fernando will…
By Kimani Chege United Kingdom renewable energy company, BBOXX, has landed a USD 31 million financing deal with Africa Infrastructure Investment Managers (AIIM) to expand operations in East Africa. Also, 10 million people will gain energy access following a deal between BBOXX, a next generation utility platform, and Africa Infrastructure Investment Managers (AIIM). AIIM, though…
More than five years after the nation’s power sector was privatised, 55 per cent of electricity consumers are still being subjected to estimated billing. The Punch has reported. The Nigerian Electricity Regulatory Commission, in its latest quarterly report, said the provision of meters would improve revenue collection by the distribution companies. It said, “Metering gap…
The World Bank Thursday, unveiled its approved Action Plan on Climate Change Adaptation and Resilience covering a period of five years. Under the plan, the bank will ramp up direct adaptation climate finance to reach $50 billion over FY21–25. According to the bank, this financing level, an average of $10 billion a year is more…
By Paul BurkhardtSaudi Arabia is in talks to build an oil refinery in South Africa as part of a pledge to invest as much as $10 billion in Africa’s most developed economy. Joint studies for a refinery and petrochemical complex will be conducted by state oil giant Saudi Aramco and South Africa’s Central Energy Fund,…
