By Oke Peter Nigeria’s refineries posted a cumulative loss of N114.3 billion in the first 11 months of 2018, the latest industry data have revealed. Figures obtained from the Nigerian National Petroleum Corporation (NNPC) on Friday in Abuja showed that the Kaduna Refining and Petrochemical Company, Port Harcourt Refining Company and Warri Refining and Petrochemical…
The organizers of African Utility Week (AUW) and POWERGEN Africa, have announced a media partnership with the global news organization and broadcaster, CNN, in the run-up to the event that will hold between 14 and 16 May 2019, in Cape Town, South Africa. In a release signed by the organization’s Senior Communications Manager, Annemarie Roodbol,…
Kenya’s Electricity Generation (KenGen) on Monday, said it secured a multi-million shillings contract to provide geothermal drilling services to state-run Ethiopian Electric Power. The power producer’s contract with East Africa’s largest power producing company is being funded by the World Bank through a loan to the Ethopian government for 7.6 billion shillings ($76.8 million), KenGen…
Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3 billion acquisition of Nigerian offshore oilfield OPL 245 in 2011. Shell said in a statement on its website that it had been informed by the Dutch Public Prosecutor’s Office (DPP) that it had nearly concluded its investigation and is preparing to prosecute…
Scores of persons are still missing in Nembe community, Bayelsa State, after a gas explosion from the Creek Trunk Line operated by the Aiteo Eastern Exploration and Production Company in the community. According to The Punch, the explosion caused tension among indigenes of the seven communities of Nembe in Nembe Local Government area of the…
To deepen offshore investments in the nation’s oil and gas industry, the Federal Government on Wednesday unveiled Nigeria’s $48 billion investment opportunities available in emerging capital projects expected on stream soon. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, while speaking at a panel session on the topic “Insights…
The African Development Bank (AfDB) has kicked off a feasibility study to explore the potential of electricity cooperative business models in Nigeria and Ethiopia. The effort is part of the Bank’s goal of achieving universal electricity access across Africa by 2025, having realised that power shortages diminishes the region’s Gross Domestic Product (GDP) growth between…
Nigeria earned N3.72 trillion from royalties and petroleum profit tax (PPT), in the oil and gas sector in 2018, according to data obtained from the Central Bank of Nigeria, (CBN). The CBN, in its Economic Report for the Fourth Quarter of 2018, stated that the amount the country earned from royalties and PPT in 2018…
By Oke Peter The organizer of the longest running meeting for senior level decision makers in African energy, EnergyNet Limited has launched a new brand identity to better represent Africa Energy Forum (AEF) core values of innovation, integrity and stakeholder collaboration. The event attracts over 2,000 attendees annually to discuss the financing and development of…
The power generation statistics for Q4 2018 reflected that a total average of 68,625 MWh of energy was generated daily by thermal power stations while thermal power stations generated an average of 27,913 MWh of energy within the same period. According to the report made available by the National Bureau of Statistics ((NBS), thermal stations…
