Damilola Shittu – Abuja The Electricity Generation Companies (GenCos) at the weekend said the country loses $29.3 billion yearly to low supply resulting from load shedding and inadequate facilities. The Executive Secretary, Association of Power Generation Companies (APGC), Joy Ogaji, in an emailed response to questions, urged the Transmission Company of Nigeria (TCN) to upgrade…
Damilola Shittu — Abuja The government of Saudi Arabia has expressed readiness to sign a memorandum of understanding with Nigeria for the revamp of Nigerian refineries and for the construction of a new one. This was revealed by the Federal Ministry of Petroleum Resources. It said based on the proposed MoU, Saudi Arabia had expressed…
The United States government has further shown commitment towards the Republic of Korea’s $1 billion contribution to boost electricity supply to African countries, as a way of ensuring that the dream to light up the African subregion becomes a reality. An indication to this emerged on Wednesday in Washington, during an ongoing United States/Korea reporting…
No fewer than five oil wells, belonging to Chevron Nigeria Limited, in some communities in Ilaje Local Government Area of Ondo State, caught fire on Thursday. A source disclosed that the fire started in the Ajegunle Ikorigho community and spread to communities like Ojumole, which is located in Ikorigho land in the local government. According…
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) has said it seeks to increase the nation’s crude oil reserves to 40 billion barrels and production capacity to four million barrels per day by 2025. The Federal Government in 2010 set the target of 40 billion barrels of crude oil reserves and production of…
Damilola Shittu – Abuja The Managing Director / CEO of Nigeria Bulk Electricity Trading Plc (NBET), Marilyn Amobi, has charged journalists to ensure responsible and balanced reportage of the power sector in order to grow the industry. Amobi who made this know in Abuja, while receiving the executives of the Nigeria Union of Journalists (NUJ)…
By Oke Peter In its determination aimed at ensuring that Nigerian refineries are functional, the Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has said the Federal Government is asking Saudi Aramco for some investment into the nation’s refineries. Kachikwu stated this on Wednesday while speaking with ‘Bloomberg Daybreak: Americas’ on the sidelines of…
The Transmission Company of Nigeria (TCN) has disclosed that it has begun the execution of the $170m power transmission project called the ‘Abuja Feeding Scheme’. The revelations were made by the Managing Director of TCN, Mr. Usman Mohammed during the ground breaking ceremony for the projects in Abuja. “The main purpose of this project is…
An indigenous oil servicing company in Akwa Ibom State, The Pioneer Divers Int’l Limited, has dragged the Nigeria Content Development and Monitoring Board (NCDMB) to court for alleged breach of local content laws. The Punch has reported. In a suit number HEK/96/2019, filed before the Akwa Ibom State High Court in Eket, the plaintiff, Divers…
Damilola Shittu – Abuja The Nigerian Electricity Regulatory Commission (NERC) has issued permits to Meter Asset Providers to provide meters to customers who receive electricity supply from four power distribution companies. According to NERC, the permits were issued to meter asset providers that are to supply meters to customers in the franchise areas of Port…
