By Darrell Proctor A study from a London-based group focused on financial aspects of the energy industry said up to $60 billion of coal-fired power generation assets may be stranded in South East Asia in the next 10 years. The study released this week by Carbon Tracker said renewable energy resources and more-stringent environmental policies…
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) on Wednesday announced that its crude oil and gas export sale in August 2018 was $470m, indicating an upsurge of about $78m in comparison to July oil and gas export figures of $391.91m. The NNPC monthly financial and operations report for August 2018, which was…
Damilola Shittu – Abuja Nigeria lost $416.224 million, about N127.78 billion to gas flaring in the first five months of the year, as oil and gas companies operating in the country flared a total of 130.07 billion standard cubic feet of gas from January to May 2018. A gas flare site in Niger Delta. According…
By Oke Peter The Economic and Financial Crimes Commission (EFCC) has removed Mr Benedict Peters’ name from the wanted persons’ list published on the official website of the commission. The delisting of the Executive Vice Chairman of AITEO Group, came about seven months after an Abuja High Court, Bwari, presided by Justice Othman Musa, declared…
By Oke Peter The leading business intelligence and transaction platform for Africa’s Oil and Gas sector, Africa Oil Week commenced its 25th anniversary on Monday, as delegates converged to celebrate successes recorded in the oil and gas discussion and investment drive in Africa. The first session on Economic Outlooks opened with key speakers including the…
Damilola Shittu – Abuja The Majority Leader of the Senate, Senator Ahmad Lawan, said the probe of the 1.05 billion dollar NLNG dividend fund should be left for the ad hoc committee The Senate on Tuesday mandated its Committee on Gas Resources to investigate an alleged diversion of $1.05 billion by the Nigerian National Petroleum…
In its efforts aimed at maximising local content, advancing employment opportunities as well as patronising competent Nigerian contractors to provide technical and non-technical services and support that would contribute to national economic development and that of stakeholders, clients, companies, employees and contractors in the country, the Federal Government has set a minimum local content target…
A scientific paper led by two researchers at Harvard University made a splash this week by claiming that a cigar-shaped rock zooming through our solar system may have been a spacecraft sent by aliens. The researchers noted in a pre-print of the article that it was an “exotic scenario,” but that “Oumuamua may be a…
The Department of Petroleum Resources (DPR) says government is leaving no stone unturned to ensure surplus of Premium Motor Spirit (PMS) and stall the speculated end-of-the-year scarcity. The Zonal Operations Controller of DPR, Lagos Zonal Office, Mr Wole Akinyosoye, stated this at the 2018 Annual DPR and Petroleum Marketers Meeting in Ibadan on Tuesday. News…
Damilola Shittu – Abuja Current power supply limitation in Sokoto, Talata-Mafara, Gusau and Birnin–Kebbi is caused by the collapse of 132KV transmission tower located between Funtua and Gusau, a statement from Transmission Company of Nigeria (TCN) says. The statement, issued by Mrs. Ndidi Mbah, TCN’s General Manager, Public Affairs in Abuja on Tuesday, said the…
