Damilola Shittu – Abuja A multi-billion dollar investment opportunity in the nation’s deep-offshore frontiers was unveiled on Wednesday, at the 10th World Energy Capital Assembly in London, United Kingdom. It was part of the drive by the Nigerian National Petroleum Corporation (NNPC) to raise Nigeria’s crude oil reserve. Delivering an address at the panel session…
The Nigerian National Petroleum Corporation (NNPC) has reiterated that it has no plan to carry out mass retirement of staff. The corporation’s spokesman, Mr Ndu Ughamadu, disclosed this in a statement in Abuja on Wednesday. He said that Group Managing Director of the corporation, Dr Maikanti Baru, gave the assurance at a programme – CS…
German solar battery maker, Sonnen, has won approval to join the lucrative market for keeping the country’s power network in balance, giving a boost to its drive to reach profitability. Jean-Baptiste Cornefert, head of Sonnen’s eServices retail unit, told media it had been accepted by Germany’s biggest power grid firm TenneT to join the so-called…
By Bertrand Piccard Dear COP24 Negotiators, during these next couple of weeks, in Katowice, Poland, you will have to decide on measures urgently needed to ensure the future quality of life on earth for humanity. That is what COP24 is all about. You understand better than most the dramatic consequences of even a small increase…
Energy Worth Online with Agency Report United Nations Secretary-General António Guterres has warned that the world is in “deep trouble’’ due to climate change. Guterres gave the warning at the 24th Conference of Parties (COP24) Climate Change Conference in Katowice, Poland on Monday. He told parties to the UN Climate Change Convention (UNFCCC) that the…
Oil prices jumped on Monday after the United States and China agreed a 90-day truce in a trade dispute, Canada’s Alberta province ordered a production cut, and as exporter group Organisation of Petroleum Exporting Countries (OPEC) looked set to reduce supply. US light crude oil last traded $1.31, or 2.6 per cent, higher at $52.24….
The Federal Government has been granted $200 million loan for the funding of the nation’s electrification project. “The Board of Directors of the African Development Bank Group has approved a $150 million sovereign loan to the Federal Government of Nigeria to finance the Nigeria Electrification Project (NEP),” AfDB said in a statement. “The Africa Growing…
Africa50, an infrastructure investment platform founded by the African Development Bank and African States, in partnership with Energy Futures Initiative (EFI) has announced the United States launch of the gas report on “Investing in Natural Gas for Africans: Doing Good and Doing Well” at a ceremony held recently at the Atlantic Council Headquarters. In June…
Nigeria’s leading electricity distribution company, Ikeja Electric Plc (IE), has won the 2018 SERAS Innovation Prize at the SERAS Awards, held at the MUSON Centre, Onikan, Lagos, last weekend. The company bagged the prestigious award, in a category that focused on innovative and sustainable ideas with positive environmental impact on society, which was keenly contested…
By Irina Slav Mexico’s state oil company Pemex said it produced an average 1.76 million bpd of crude in October, down 7 percent from October last year, Reuters reports, citing data released by the company. This is also one of the lowest monthly production rates since 1990 when records began. The decline was attributed to…
