Clean-energy innovation essential to meeting climate goals
A CONCERTED push for clean-energy innovation is the only way the world can meet its climate goals, the International Energy Agency said in its flagship energy technology report. The report, Energy Technology Perspectives 2015 (ETP 2015), showed that despite a few recent success stories, clean-energy progress is falling well short of the levels needed to…
Afren targets $105m in recapitalisation programme
HAVING waded through tough times in recent times, Afren Plc has commenced a recapitalisation programme expected yield of about $105 million for the company in the next two months. Interim Chief Executive, Toby Hayward, who disclosed this in its financial statement, said: “Afren faced an unprecedented set of challenges in 2014, compounded by a decline…
Global upstream investment hits $100 billion
GLOBAL investment in upstream oil production in 2015 has declined by almost 20 per cent to settle at $100 billion, according to International Energy Agency’s chief economist Fatih Birol. He said that the biggest portion of this decline is in the US, Canada and Brazil. Biro stated: “Especially for shale oil, the decline rates are…
‘Gas-to-power challenges may confront incoming government’
INDICATIONS have emerged that the incoming government would need a strong political-will to tackle the challenges of gas supply to the power plants, due to huge infrastructure deficit. The Minister for Finance and Coordinating Minister of the Economy, Ngozi Okonjo-Iweala, who disclosed this as an international forum recently, said the solving the gas-to-power problem would…
Indigenous firms, multinationals tap latest global technology at OTC
OPERATORS and service companies in the upstream oil and gas sector face many technology and innovation challenges in developing existing and future oil reserves to their full potential. They need to make important investment decisions on technology to enable them work in deeper water, develop subsea operations, extend the life of oil and gas fields,…
Kolo Creek oil spill incident worries farmers
No fewer than 50 farmers impacted by the April 15 oil leak incident from Shell’s Kolo Creek oil fields in Otuasega, Bayelsa have decried damages they suffered from the incident.
Boosting Nigeria’s crude oil production through marginal fields development
When the Federal Government introduced the local content law in April, 2010, the strategy was to ensure that indigenous companies play a greater part in developing oil and gas assets.
'How Africa can power 500 million people with renewable energy'
The need for the African continent to fully exploit the renewable energy sources for power generation as once again hit the front burner, as the United Nations Educational, Scientific and Cultural Organisation (UNESCO), declared that energy insecurity is a key challenge to growth and development in Africa.
New PCC board to interface with PHCN, service providers
AIMED at ensuring that it protects the interest of Nigerian consumers and reduce the number of public complains that would be directed to it, the new board of the Public Complains Commission (PCC), has disclosed that it plans tp meet with the management of the Power Holding Company of Nigeria as well as other service providers to guarantee improved services to their users.
Seven Energy facilitates 560MW of additional generation capacity in Calabar
Seven Energy International Limited (Seven Energy), the indigenous Nigerian integrated gas Company has commenced the supply of gas to the 560 MW Calabar National Integrated Power Project (NIPP).