EnergyNet Limited has announced that the co-located ‘Africa Energy Forum: Off the Grid’, and ‘Regional Energy Co-operation Summit’ meetings taking place in Addis Ababa, Ethiopia between 27 and 29 March will welcome the launch of the updated version of Ethiopia’s National Electrification Program (NEP 2.0), presented by the Government of Ethiopia. According to a statement…
By Oke Peter Power distribution companies in the country failed to remit a total of N325.54bn to the Nigerian Bulk Electricity Trading (NBET) for the electricity sold to them from January to October last year. The government-owned NBET buys electricity in bulk from generation companies through Power Purchase Agreements and sells through vesting contracts to…
Nigeria, Africa’s top oil producer, pumped more crude oil in February than the quota given by the Organisation of Petroleum Exporting Countries (OPEC), a new survey has shown. OPEC and 10 non-OPEC countries agreed in December to cut oil production by 1.2 million barrels per day effective from January for an initial period of six…
Azuri Technologies, a leader in pay-as-you-go solar in Africa and crowdfunding platform, Energise Africa yesterday announced the latest phase of debt financing from United Kingdom (UK) impact investors to deliver affordable, clean energy and help solve the energy crisis in Nigeria and other sub-Saharan Africa countries. The Azuri and Energise Africa collaboration plans to raise…
Esther Ajibola – Lagos The Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote has said that next two years promises to be bright for operators in the Nigerian oil and gas industry with an investment opportunities of $25 billion underway. Addressing journalists in Lagos yesterday, Wabote revealed that within the past…
Damilola Shittu – Abuja President Muhammadu Buhari has approved the 2019 operational budget of the Nigerian National Petroleum Corporation (NNPC), the Group Managing Director of e state oil company, Dr. Maikanti Baru, disclosed Wednesday. Although Baru did not state how much the corporation’s budget for 2019 was worth, he however disclosed that Buhari was gracious…
Royal Dutch Shell has disclosed that it does not have plans to declare force majeure on Bonny Light exports after a fire in an area around a key pipeline. A force majeure is usually declared to protect an oil exporter against any liability with buyers because of its inability to meet obligation. Shell stated that…
By Oke Peter The Nigerian National Petroleum Corporation (NNPC) on Tuesday announced that it had recovered assets worth over N771 million from some oil marketers who under-paid for petroleum products supplied to them from the Kaduna depot of the Petroleum Products Marketing Company. NNPC’s Anti-Corruption Committee Chairman, Mike Balami, said the committee, in collaboration with…
In the wake of growing uncertainty in the price of crude oil, Nigeria faces the challenge of losing its market in Asia as Saudi Arabia has concluded plans to invest $100 billion in India, Nigeria’s major oil importer, thus threatening future importation of the country’s crude by India. According to Thisday The move by Saudi…
Oil prices rose on Monday, buoyed by output cuts by OPEC and reports that the United States and China are close to a deal to end a year-long tariff row. International Brent futures were at 65.25 dollars a barrel at 07:13 GMT, up 18 cents, or 0.3 per cent, from their last close. U.S. West…
