Category: Business News

By Energy Worth The Minister of Information, Lai Mohammed, on Thursday, in Abuja, said both the Ministry of Petroleum Resources and the Nigerian National Petroleum Corporation (NNPC) were working assiduously to put paid to the lingering fuel shortage ravaging the country. Mohammed made the submission while responding to a question on government decision on the…

By Oke Peter Nigeria’s first project-financed independent power plant – the 459 megawatts (MW) capacity Azura-Edo power plant wednesday started generating electricity to the national grid, following the successful completion of the first-fire on one of its generation turbines – the 153MW GT-11, and subsequent synchronisation of same to the national grid by the Transmission…

Energy Worth with Agency Report A judge in Milan, Italy, has ordered Royal Dutch Shell and Italian energy giant, Eni, to stand trial in Italy over allegations of bribery and corruption in the 2011 purchase of Oil Prospecting Lease (OPL) 245 from Malabu Oil in Nigeria. The judge also ordered the other key figures such…

The recently approved contract for the construction of Ajaokuta-Abuja-Kaduna-Kano Gas Pipeline project, dubbed AKK Pipeline, has started yielding early benefits with the commitment by NNPC to build power generating plants with combined capacity of 4600 megawatts in Abuja, Kaduna and Kano States. The NNPC’s Group Managing Director, Dr. Maikanti Baru, who disclosed this during a…

By Energy Worth The Nigerian Electricity Management Services Agency on Tuesday announced the commencement of a nationwide technical monitoring and evaluation of power lines and sub-stations. It stated that the exercise was for the primary 33KV feeder lines and associated 33/11KV injection sub-stations with supply source from 330/132/33KV transmission sub-stations. NEMSA said the exigency of…

The Nigerian National Petroleum Corporation (NNPC) has 21 days sufficiency of Premium Motor Spirit otherwise called petrol. The 21 day sufficiency of petrol translates into 750million litres of the white product. NNPC has also increased the amount of PMS truck supplies to cities across the country, with Abuja receiving additional 100 trucks of petrol from…

By Oke Peter Following the federal government’s approval of its power purchase agreement (PPA) with the Nigeria Bulk Electricity Trading Plc (NBET), promoters of the 550 megawatts (MW) capacity Ondo gas-fired Independent Power Project (IPP), have said the plant is projected to supply power to the national grid from the fourth quarter (Q4) of 2020. Speaking…

By Oke Peter There was shoot-out between Naval personnel and vandals at Ilado-Odo/Inagbe beach in Idi-Mangoro area of Lagos, weekend. It lasted for over an hour. Jerrycans and charms (inset) recovered by Naval personnel at the site of pipeline vandalism in Lagos.  The Naval personnel had stormed the island, based on intelligence that vandals were …

By Oke Peter THE Senate has taken a swipe at the Transmission Company of Nigeria, TCN, for spending a whopping N738 million to clear abandoned goods at the port. The attack came when TCN Managing Director, Usman Gur Mohammed, disclosed the expenditure at a budget defence session with the Committee on on Power, Steel Development…

The two countries signed a €100 million ($118 million) bilateral Investment and Reform Partnership agreement to promote private investment in renewable energy and vocational training in Ghana. According Ghanaian government, the agreement is part of Germany’s G-20 Compact with Africa for sustainable economic development. The partnership with Ghana is aimed towards improving conditions for sustainable…