The Transnational Corporation of Nigeria Plc yesterday said it plans to invest $2.5 billion in the power sector to boost power supply across the country. The investment will be made through its subsidiary, Transcorp Power Limited. Transcorp Power has so far injected about $1 billion in projects with a combined capacity of 700Mw, Chairman, United…
Femi Falana, Senior Advocate of Nigeria (SAN) and human rights lawyer, has urged President Muhammadu Buhari not to renew the licences of oil block owners in the country. Sahara Reporters has reported. In a letter addressed to the President, dated March 20, 2019, Falana commended him for taking the decision to revoke the licences of…
In a responsive approach to mitigate customer complaints arising from estimated bills, Ikeja Electric has set up a Bill Dispute Resolution Panel (BDRP) across its undertaking offices to help expedite cases of disputed bills. The panel, which comprises selected staff with expertise in the business operations and customer services, will meet with customers, once in…
By Haley Zaremba Across the United States, gas stations outnumber charging stations for electric vehicles by a ratio of approximately seven to one. Large stretches of highway without charging stations and a general scarcity of places to plug in give many potential EV adopters cold feet, and understandably so. This means that building more charging…
Shell Petroleum Development Company of Nigeria Limited says it has increased the size of its contractor support fund by $200m in a bid to boost the financial capacity of vendors and suppliers in Nigeria’s oil and gas industry. The oil major said in a statement on Sunday that with the latest move, the fund size…
Mayowa Okekale – Abuja The gale of transparency and probity which has pervaded the operations of the Nigerian National Petroleum Corporation (NNPC) under the current dispensation received global affirmation over the weekend with the conferment of the highest discloser status by the global extractive industries watchdog, Extractive Industries Transparency Initiative (EITI). The accolade is the…
By Oke Peter The national power grid lost 1,770 megawatts in two days as generation fell below the 3,000MW mark on Friday, the latest data obtained by our correspondent on Saturday revealed. The total available electricity generation fell to 2,938.5MW as of 6am on Friday from 4,708.3MW on Wednesday. Data from the Nigeria Electricity System…
By Oke Peter Nigeria’s effort at ensuring local sufficiency in refined petroleum products was bolstered Thursday with the formal commencement of the first phase of the rehabilitation of the 210,000 barrels per day capacity Port Harcourt Refinery complex that comprises the 60,000 barrels per day old Refinery built in 1965 and the 150,000 barrels per…
By Tsvetana Paraskova Amid growing global concern about the overuse of plastic, Austria’s oil and gas group OMV and Austrian Airlines have partnered to turn the plastic cups the airline’s passengers have used into synthetic crude that could be later processed into fuels or other plastic products. OMV said on Friday that it had started…
By Irina Slav A senior United States government official has told Indian media that private local refiners had stopped importing crude oil from Venezuela, noting the cooperation of Indian companies in this respect. “My understanding is that Indian private companies, who were importing Venezuelan oil, have stopped,” the official, whose name was not disclosed, said…
