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…
Qatar is to leave OPEC next month, the Gulf state’s new energy minister, Saad al-Kaabi, announced on Monday. “Qatar has decided to withdraw its membership from OPEC effective January 2019,” Kaabi said at a Doha press conference. He added that OPEC was told of the decision on Monday ahead of the announcement.
Damilola Shittu – Abuja The Shell Petroleum Development Company of Nigeria Limited and its joint partners have signed a gas supply and aggregation agreement that will support the 140-megawatts Aba Integrated Power Project in Abia State. The agreement, which is between the SPDC, Geometric Power Aba Limited, and Gas Aggregation Company of Nigeria, was signed…
Zambia is seeking proposals from potential developers of solar power projects with a combined 200 megawatt (MW) capacity as it tries to diversify its energy mix away from hydroelectric power. Energy Minister Matthew Nkhuwa said in a statement at an investment conference on Tuesday that the 200 MW would be split into small projects, each…
Oil marketers on Sunday in Lagos issued a seven-day ultimatum, demanding that the Federal Government settle the outstanding debts totalling N800 billion, failing which depots would cease operation across the country. The marketers, comprising Major Oil Marketers Association of Nigeria, Depot and Petroleum Products Marketers Association and Independent Petroleum Products Importers, said failure to meet…
Esther Abiola – Lagos Nigeria is planning to supply electricity to Burkina Faso, a West African country, amid cries of acute power deficit by Nigerians. Managing Director/Chief Executive Officer, Mainstream Energy Solutions Limited, operators of Kainji and Jebba Hydro power plants, Mr Lamu Audu, said this at the Annual Power and Utilities Roundtable organised by…
Damilola Shittu – Abuja Minister of State, Mines and Steel, Abubakar Bwari, has said Nigeria still imports an estimated $3.3 billion worth of steel and associated derivatives annually. Bwari said at the 16th Edition of Mines and Money, in London, that Nigeria needed about 17 million tonnes of steel, but local production of the products…
Theme: NDCs Implementation by Nations: Nigeria’s Progress The Center for Agriculture and Climate Change was supported by the United Nations Information Center (UNIC) Lagos, in hosting the first ever Preparatory Conference of Parties (Pre-COP 24) Dialogue in Lagos, Nigeria’s and West Africa’s largest economic center. This was ahead of the UN Conference of Parties at…
By Darrell Proctor A new study from BloombergNEF (BNEF) says developing countries lead the way on new investments in clean energy, with those nations taking advantage of lower project costs for solar and wind power as they move away from fossil fuel-powered generation. Today’s report, from a survey by BNEF’s annual Climatescope project, says “emerging…
The House of Representatives has raised the alarm that Nigeria may have lost up to $10bn in the controversial Malabu oil deal in one transaction on Operating Licence 245. According to The Punch, the lower chamber said available data indicated that the deal was never in the interest of the country. The Chairman, House of…
