Damilola Shittu – Abuja The United Nations has thrown its weight behind the quest of the African Development Bank to provide electricity to 250 million people in Africa through its ‘Desert to Power’ electricity initiative. A statement made available to our correspondent in Abuja on Wednesday revealed that the United Nations Secretary-General, António Guterres, threw…
Esther Ajibola – Lagos The Department of Petroleum Resources (DPR) has turned to French data firm Kpler to help it ferret out smugglers from the thousands of ships plying Nigerian waters. The United Nations Security Council estimates that Nigeria lost $2.8 billion of revenue to oil theft in 2017, although Kpler says the minimum 100,000…
Two oil majors, Shell Petroleum Development Company of Nigeria and Total, have declared force majeure on exports of crude on each of their trunk lines, spokespersons for the firms have said. According to The Punch, Mr Bamidele Odugbesan, Manager, Media Communications for Shell, told newsmen in Lagos that the force majeure was declared on Bonny…
Damilola Shittu – Abuja Transcorp Power Consortium has emerged the bid winner for Afam Power Plc. The consortium submitted a bid of N105.3 billion to beat two other companies that wanted to acquire the electricity generation company (100 percent equity). Similarly, Quest Electricity won the bid for 60 per cent equity in Yola Electricity Distribution…
By Irina Slav There are strong indications that the foremost electric vehicle maker, Tesla, will cut the prices of its solar panels by as much as 38 percent below the national average in a bid to regain ground in the solar market, the New York Times reported today, noting the official announcement will be made…
Agency Report Oil prices topped $73 on Tuesday as Venezuela’s opposition leader called on the military to back him to end Nicolas Maduro’s rule and after Saudi Arabia said a deal between producers to curb output could be extended beyond June to the end of 2019. The situation in Venezuela, an OPEC member whose oil…
By Oke Peter The Federal Government has invited four firms for financial bids opening for Afam Power Plc, an electricity generation company, and Yola Electricity Distribution Company in Abuja on Tuesday (today). Three firms – Diamond Stripes Consortium, Transcorp Power Consortium and Unicorn Consortium – are expected to slug it out in the bid to…
THE Transmission Company of Nigeria (TCN) at the weekend, disclosed that a leakage on the Escravos-Lagos gas Pipeline had led to the shutdown of four power generating plants last Wednesday. As a result, it said power generated to the national grid reduced due to emergency maintenance conducted by the Nigerian Gas Company (NGC) on the…
Moroccan minister for energy, mines and sustainable development, Aziz Rabbah, has announced that the amount of investments in the country has exceeded US$13.7 billion. He noted that in selecting projects, the government has adopted a ‘national preference’ approach. Speaking at a press conference on energy and sustainable development, Rabbah stressed that Morocco has made notable…
An American company, Labacorp Power Company America, has expressed interest in developing a 900MW solar project in Zimbabwe. The US-based corporate has applied to the Government, through their local partners Craft Properties (Pvt) Ltd, for the implementation of the gigantic and game-changing project. Construction Review has reported. Craft Properties (Pvt) Ltd founder chief executive, Mr…
