Eleven companies have indicated interest to operate the troubled Ajaokuta Steel Company but the federal government was not yet ready to hand over the facilities. The News Agency of Nigeria (NAN) has reported. Alhaji Abubakar Bwari, the Minister of State, Mines and Steel Development, announced while giving a three-year account of his stewardship (2016-2018) in…
By Oke Peter Electricity generation companies in the country have said they will be forced to shut down their power plants if the challenges facing them are not addressed. The Association of Power Generation Companies, the umbrella body for the Gencos, said on Monday that the recent decline in available generation capability could be traced…
Damilola Shittu – Abuja There is no budgetary provision for the construction of the 3,050 megawatts Mambila hydropower project, the Federal Government declared on Sunday. The government said the claims that the loan negotiations for the project had stalled since 2017 because of an attempt to utilise $600m (N219 billion) from the project for an…
By Irina Slav There is no need for the Organisation of Petroleum Exporting Countries (OPEC) to schedule an extraordinary meeting before April, Saudi Arabia’s Energy Minister, Khalid al-Falih, told media, as quoted by Reuters. At the same event, an industry conference taking place in Abu Dhabi, Al-Falih also said the market was moving in the…
Morocco’s state-owned Company “Office National des Hydrocarbures and des Mines (ONHYM) and Nigerian National Petroleum Corporation (NNPC) have chosen Penspen to carry out the 1st phase of the FEED (Front-End Engineering) of the gas pipeline project to run from Nigeria upto Morocco. The FEED first Phase consists of a detailed review of the feasibility study…
Nigeria has successfully completed 8 multi million power plants under the Federal Government’s National Independent Power Project (NIPP) with an aim of increasing electricity generation in the highly populated country. According to the company behind the construction of the plants, the Niger-Delta Power Holding Company (NDPHC), the plants installed include; 750MW Olorunsogo 11, 450MW Sapele,…
With the successful completion of the Egina Floating Production Storage Offloading (FPSO) unit and the achievement of First Oil in the facility, Samsung Heavy Industries, along with partners, could be justified in spending time looking back with pride. The Sun has reported. According to a statement by the company, at the weekend, the completion of…
Nineteen prospective investors are currently conducting due diligence on Afam Power Plc and Yola Electricity Distribution Company, The PUNCH has learnt. While seven of the companies are currently examining the data on Afam Power Plc, twelve are examining the data and assets of Yola Electricity Distribution Company in order to determine what exactly is on…
By Oke Peter Stakeholders in the nation’s oil and gas sector on Thursday, in Abuja, called for collaborative measures to end sharp practices that could undermine safety of lives, investments and properties in the country. The Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru; Chairman, House of Representatives Committee on Petroleum…
The Nigerian National Petroleum Corporation (NNPC) is set to implement effective commercial framework that would halt the export of propane and butane which are major components in the production of Liquefied Petroleum Gas (LPG), also known as cooking gas. The Corporation explained in a press release by its Group General Manager, Group Public Affairs Division,…
