Energy

In fact, the Budget Director General revealed that in the 2015 plan, non-oil revenue was for the first time projected to be higher slightly than oil mineral revenue, which makes the plan a non-oil economy Budget.

Electricity consumers may have to wait till the end of 2018 for their homes to be metered as the National Electricity Regulatory Commission (NERC) has said it might not sanction distribution companies for not providing their customers with prepaid meters until the end of the five-year agreement they signed with the government to make the…

“In the last few days the country has been experiencing shortages of fuel, particularly petrol but we have enough stocks to meet demand,” Yaluma said.

THERE are indications that the nation’s oil and gas market would bounce back in the next four years, as a recent report by an international agency predicts a significant growth in the market value to about $7.5 billion by 2019.   The new market research report released at the weekend stated that the market values…

THE Federal Government has signed a Memorandum of Understanding (MoU) with TBEA Co Ltd of China to fast track the development of transmission lines and substations in Nigeria.    This was done with the understanding that power transmission infrastructure is critical to the continued growth of the sector.   Represented by the Minister of State…

…OPEC predicts 3.89mbpd consumption level THE expected growth in the economies of the African nations would drastically shoot up oil demand by about 2.47 per cent to 3.89 million barrels per day (mbpd), according to the Organisation of Petroleum Exporting Countries (OPEC).   The cartel, in its latest edition of its Monthly Oil Market Report,…

APPARENTLY not satisfied with the current level of electricity supply to its network, the Eko Electricity Distribution Company (EKEDC), has blamed the situation on low energy allocation from the national grid.    The company, in a statement recently, noted that the company would continue to invest massively to upgrade its facility in other to meet…

MALAYSIAN energy firm Petronas expects to make a final investment decision (FID) on an $11 billion liquefied natural gas (LNG) export terminal in British Columbia by June, after postponing the decision late last year, its chief executive said.    Shamsul Azhar Abbas said the state-owned company had agreed to farm-out about 38 percent of the…

 SEQUEL to the Federal Government’s directive on full local content implementation in the power sector, indigenous operators under the aegis of Electricity Meter Manufacturers Association of Nigeria (EMMAN), has expressed their readiness to take up the challenge and play critical role in growing the sector.     The Executive Secretary of the association, Muideen Ibrahim, who…

TWO trailers fully loaded with illegal oil and diesel have been arrested by the Nigeria Security and Civil Defense Corps (NSCDC) in Delta State.   The Delta State Commandant of NSDC, Adesuyi Clement, who disclosed this recently said that eight persons -Salisu Mohammed, Adamu Seidu, Sylvester Irabor and five others were currently being detained by…

Mr Dickson Okotie is the Chief Executive Officer of  Eunisell Solutions, an indigenous oil and gas service company. In this interview with Roseline Okere, he spoke on the challenges facing full optimization of marginal oil fields in the country and the solutions. Excerpts. WHAT type of services is Eunisell rendering to the oil and gas…

. As NIPP’s contribution hits 2,500MW THE Federal Government has commissioned new Turbine Unit of Egbin Power station and Olorunsogo power plant to boost electricity supply in the country.   Besides, the Nigerian National Integrated Power Project (NIPP) contribution to the national grid has reached 2,500MW on regular basis.   Speaking at the commissioning, President…