The European Union (EU) and All On – an impact finance outfit, would launch a €30 million worth of electrification financing initiative for off-grid and commercial and industrial captive power projects in Nigeria, organisers of the upcoming fourth Nigeria Energy Forum (NEF 2019) have disclosed. According to a statement by the NEF organisers, the funding…
By Oke Peter The Managing Director/Chief Executive Officer of Niger Delta Power Holding Company (NDPHC), Mr. Chiedu Ugbo, on Tuesday met with the Chairman of AMEA Power, His Excellency, Hussain Nowais, at the ongoing Annual Investment Meeting (AIM2019) in Dubai, United Arab Emirate (UAE). They both discussed investment opportunities in the Nigerian energy sector. The…
By Tim Daiss China has long been criticised for imposing massive debt on developing countries as well as securing their natural resources to help them build up infrastructure with funding by Beijing, something about which the U.S. has been especially vocal, particularly in Africa and South Asia. Now, that criticism will likely be taken to…
By Oke Peter The Shell Petroleum Development Company (SPDC) has unveiled a $15 billion investment in the oil and gas sector in the next five years. Its Managing Director, Osagie Okunbor, broke the news at the second edition of the Nigerian Oil and Gas Opportunity Fair (NOGOF) organised at the weekend by the Nigerian Content…
The international oil benchmark, Brent crude, extended its gains on Monday, rising to a five-month high. Brent, against which Nigeria’s crude oil is priced, hit a high of $70.86 per barrel, with instability in Libya raising the prospect of further supply constraints at the same time that the Organisation of Petroleum Exporting Countries (OPEC) has…
Symbion Power has signed an agreement with the Rwandan government for the construction of a 56 MW power plant on Lake Kivu in the Eastern African nation. The 56 MW power plant will be operational in fourteen months with a cost estimated at $200 million. The construction of the plant is part of the Rwandan…
More than 50 per cent of Nigeria’s oil and gas blocks remain untapped even as crude oil production continues to hover around two million barrels per day while gas shortages persist in the country over the years, ’FEMI ASU reports Out of 390 oil blocks in the country, 211 are yet to be allocated by…
The Nigerian Electricity Regulatory Commission (NERC) will begin mass metering for electricity consumers by May 1, to bridge the metering gaps in the country. Dr Usman Arabi, NERC General Manager Public Affairs in a statement said the metering will be executed under the Meter Asset Providers programme of the Federal Government. “The commission issued permits…
The Abuja-Kaduna-Kano (AKK) gas pipeline project received a major boost on Thursday as the Kaduna State government pledged to join forces with the Nigerian National Petroleum Corporation (NNPC) to ensure effective optimisation of the project by stakeholders across the state. Kaduna State governor, Mallam Nasur el-Rufai, declared the support while receiving the Group Managing Director…
Damilola Shittu – Abuja The Senate has directed the Shell Petroleum Development Company to respect its earlier resolution which mandated it to pay N6, 936,899,900 to some oil producing communities in the Niger Delta region. The fresh directive followed the protest by people of the affected communities who lamented the refusal of the SPDC to…
