Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor’s Office (DPP) that it had nearly concluded its investigation and is preparing to prosecute…
Scores of persons are still missing in Nembe community, Bayelsa State, after a gas explosion from the Creek Trunk Line operated by the Aiteo Eastern Exploration and Production Company in the community. According to The Punch, the explosion caused tension among indigenes of the seven communities of Nembe in Nembe Local Government area of the…
To deepen offshore investments in the nation’s oil and gas industry, the Federal Government on Wednesday unveiled Nigeria’s $48 billion investment opportunities available in emerging capital projects expected on stream soon. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, while speaking at a panel session on the topic “Insights…
The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bank’s goal of achieving universal electricity access across Africa by 2025, having realised that power shortages diminishes the region’s Gross Domestic Product (GDP) growth between…
Nigeria earned N3.72 trillion from royalties and petroleum profit tax (PPT), in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, (CBN). The CBN, in its Economic Report for the Fourth Quarter of 2018, stated that the amount the country earned from royalties and PPT in 2018…
By Oke Peter The organizer of the longest running meeting for senior level decision makers in African energy, EnergyNet Limited has launched a new brand identity to better represent Africa Energy Forum (AEF) core values of innovation, integrity and stakeholder collaboration. The event attracts over 2,000 attendees annually to discuss the financing and development of…
The power generation statistics for Q4 2018 reflected that a total average of 68,625 MWh of energy was generated daily by thermal power stations while thermal power stations generated an average of 27,913 MWh of energy within the same period. According to the report made available by the National Bureau of Statistics ((NBS), thermal stations…
Thirty engineering graduates have been inducted to the fifth batch of the Shell Nigeria internship programme, a four-year old scheme designed to help young graduate engineers upscale their skills in readiness for employment in the energy sector. The internship programme, run in collaboration with the Petroleum Technology Association of Nigeria (PETAN), places the interns with…
Nigeria has ordered foreign oil and gas companies to pay nearly $20 billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy. In a letter sent to the companies earlier this year via a debt-collection arm of the government,…
Damilola Shittu – Abuja The Nigerian Content Development Monitoring Board (NCDMB), has announced plans to introduce a new financing scheme to address the gaps witnessed under the Bank of Industry (BoI) funding initiative for companies operating in the Nigerian oil and gas industry. Speaking in Abuja, Executive Secretary of the NCDMB, Mr. Simbi Wabote, stated…
