Egypt signed a deal on Thursday with Saudi Arabia’s ACWA Power to build a power plant in southern Egypt involving investment of $2.3 billion, the Egyptian electricity minister said. The plant, which will have capacity of 2,250 megawatts (MW), would be built in Luxor province in southern Egypt, the minister told a news conference. He…
By Oke Peter The African Development Bank (AfDB) Country Director for Nigeria, Ebrima Faal; West African Power Pool (WAPP) Secretary General, Siengui Apollinaire KI, and Nigeria’s power sector recovery experts will attend the opening session of the Future Energy Nigeria, on Tuesday, 13 November, 2018. The 15th edition of the longstanding conference and exhibition will take…
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…
