Category: Business News

Niger State Governor, Alhaji Abubakar Sani-Bello has expressed optimism that the 700 megawatts Zungeru Hydro-electricity Generation Project will be delivered on scheduled by December 2019. Also, former Chairman of the Senate Committee on Power, Senator Philip Aduda has said that the nation’s fourth hydro-electricity generating station would grossly improve power supply when completed in the…

Siemens has announced a cut about 6,900 jobs, or close to 2% of its global workforce, mainly at its power and gas division, which has been hit by the rapid growth of renewables. Most of the cuts, about 6,100, will be made before 2020 at Siemens’s Power and Gas division, which once thrived on supplying…

Halliburton has announced that it is working with the Akwa Ibom State government to inaugurate and open Nigeria’s first oil and gas training center fully-equipped with oilfield operations tools. The Akwa Ibom Oil and Gas Training and Research Center will provide courses in field development, drilling and completions engineering, well intervention solutions and digital technologies…

A relentless flow of natural gas from America’s shale basins is drawing bears to the market—and that’s music to the ears of at least one Asia-backed investor. Kalnin Ventures LLC—an investment company with funding from Thailand’s largest coal miner, Banpu Public Company Ltd.—has spent about $417 million over the past two years snapping up 55,000…

Over 40 illegal refineries were uncovered by men of the Edo State Police Command at a forest in Egono village, near Auchi, headquarters of Estako West local government area of the state. The policemen, who were combing the forest in search of criminals and kidnappers hideout in the forest, stumbled upon the illegal refineries. The…

The Energy Storage Association (ESA) has announced its “35×25: A Vision for Energy Storage” white paper, which maps a clear and actionable pathway to reaching 35 gigawatts (GW) of new energy storage systems installed in the United States by 2025. Created in conjunction with Navigant Research, the white paper outlines the market drivers that are…

The Federal Government is proposing to spend a total of N158m for the maintenance and fuelling of generators at the Federal Ministry of Power, Works and Housing. According to the budget proposal for the ministry in the 2018 Appropriation Bill that is currently before the National Assembly, part of the N158m is to be used…

The Group Managing Director of the Nigerian National Petroleum (NNPC), Dr. Maikanti Baru, is set to deliver the pre-convocation lecture at the 40th Convocation of the Ahmadu Bello University, Zaria, Kaduna State. Dr. Baru is an alumnus of the prestigious university. The title of the lecture is: “Oil and Gas Industry and the Nigerian State: Enduring…

The Power Sector Recovery Programme (PSRP) recently developed by the federal government and the World Bank to revive Nigeria’s ailing power sector, has come up with an action plan for the sweeping restructuring of the 11 electricity distribution companies (Discos) that would enable government to take over any Disco found to be insolvent. Details of…

The Power Sector Recovery Programme (PSRP) recently developed by the federal government and the World Bank to revive Nigeria’s ailing power sector, has come up with an action plan for the sweeping restructuring of the 11 electricity distribution companies (Discos) that would enable government to take over any Disco found to be insolvent. Details of…