Agency Report Ethiopia has started to ration electricity for domestic and industrial customers after a drop in water levels in hydroelectric dams led to a production deficit. Ethiopia’s minister for water and electricity Seleshi Bekele said that the drop in water levels at the country’s Gibe 3 dam led to a deficit of 476 megawatts…
Sahara Energy Resources DMCC Dubai and Brooge Petroleum and Gas Investment Co (BPGIC) and have signed a partnership agreement to set up an oil refinery capable of producing bunker fuel with a capacity of up to 250,000 barrel per day (bpd) in the Emirate of Fujairah. Sahara Energy and BPGIC said the facility will be…
The Egyptian Electricity Transmission Company (EETC) has signed an agreement with the International Finance Corporation (IFC) to develop a 600 MW solar power complex in Egypt’s West Nile province. Muneer Ferozie, IFC’s Regional Manager revealed the reports and said that the project will go in a long way to realising the government’s renewable energy plan…
In its latest legal moves, the Nigerian government has raised the stakes in the legal battles over the highly prospective OPL 245 oil block. The Africa Report delves into the background of what could be one of the most important corporate fraud cases in Africa’s history. On a biting cold day in Milan in January,…
Damilola Shittu – Abuja Nigeria supplies about 80 per cent of the total quantum of electricity consumed in the Republic of Benin but power is more stable in the neighbouring country than it is in Nigeria, the Transmission Company of Nigeria (TCN) has said. Aside from the Republic of Benin, Nigeria, through the TCN, supplies…
The Managing Director and Chief Executive Officer, Financial Derivatives Company Limited, Mr Bismarck Rewane, has said fuel subsidies are a huge drain on government’s revenue. Rewane stated this in his presentation at the Lagos Business School Breakfast Session on May 8, a copy of which was obtained by The Punch on Tuesday. He noted that…
Oke Peter with Agency Report Nigeria oil output has risen from 1.7 million barrels per day, mbpd, in March to 1.8 mbpd in April, 2019, indicating an increase a 5.3 percent improvement, month-on-month. In its market report obtained by our correspondent yesterday, the Organisation of Petroleum Exporting Countries (OPEC), indicated that its report was based…
THE Federal Government has started plans to connect all public buildings and institutions to solar (off grid) power, in a bid to achieve its electrification programme for the country. Minister of State for Power, Works and Housing, Mr. Mustapha Shehuri, made this known to newsmen, while speaking on investment on solar development in the country….
West African solar energy company, Daystar Power, has partnered with Trine a Swedish investment platform to finance solar plants in West Africa. The partnership opens up investments in Daystar Power’s solar power installations, previously limited to large-scale investors, to the wider public. ESI Africa reports that Daystar Power and Trine initiated their partnership by opening…
India’s Reliance Industries will shut for up to four weeks a 330,000-bpd crude oil processing unit at its 660,000-bpd Jamnagar refinery, beginning in the middle of June for planned maintenance, Reuters reported on Friday, citing two industry sources with knowledge of the company’s plans. The refinery predominantly supplies refined oil products to the domestic market….
