AMCON, oil firm in out-of-court settlement agreement
The Asset Management Corporation of Nigeria, AMCON and Pan Ocean Oil Corporation Nigeria Limited alongside Newcross Petroleum Limited have agreed to a settlement agreement...
Sustaining NNPC's drive toward transparency, profitability
Transparency is critical, especially for extractive companies. Apart from ensuring that information about operations and finances is made available to the public, a transparent company allows stakeholders to measure performance.
‘Government retaining equity stakes in GenCos, DisCos counter-productive’
The Chief Executive Officer of Century Power Generation Limited, Dr Chukwueloka Umeh has said the Federal Government’s retention of 60% equity stake in the power generation companies and 40% equity stake in the Distribution Companies ...
‘Mining revenue should be shared from federation account like oil’
Olamilekan Adegbite is the Minister of Mines and Steel Development. In an interactive session during his visit to Rutam House, headquarters of The Guardian Newspapers Lagos, he talked about a range of issues bordering mineral resource development and the programmes of President Muhammadu Buhari’s administration, as captured by Kehinde Olatunji. What is your Ministry doing to exploit…
NDPHC to evacuate 690MW stranded power from Olororunsogo plant
The Niger Delta Power Holding Company (NDPHC), has announced plans to evacuate about 690 megawatts (MW) of electricity stranded at the Olorunsogo power plant due to poor infrastructure.
‘FG’s 40 billion barrels target without exploration, a mirage’
Nigeria’s quest to grow her crude oil reserves to 40 billion barrels by 2025, according to the Executive Director, Commercial and Strategy, Total Exploration and Production Nigeria, George Oguachuba, will remain a mirage without adequate exploration activities.
Lagos targets increased local capacity to address metering gap
The Lagos State Ministry of Energy and Mineral Resources, has said efforts are underway to develop a partnership with local meter manufacturers to bridge the huge metering gap in the State.
Community seeks reversal of fuel price, electricity tariff
The Igbo Speaking Community in Lagos, has urged economic managers to reverse the proposed plan to increase electricity tariff, noting that the policy would only bring untold hardship to the already-impoverished masses.
Nigerian firm stakes $450 million in Cote d’ Ivoire to boost LPG supply
Sahara Energy Resource Limited, a member of the energy conglomerate, Sahara Group, has staked over $450 million into facilitating the supply of Liquefied Petroleum Gas (LPG), to Cote d’Ivoire since 2014 as the nation continues its quest for cleaner cooking fuel options.
Stakeholders seek solution to haulage of petroleum products
Key stakeholders in the petroleum, transport and logistics sector have raised concerns about the recurring cases of tanker accidents in Nigeria, and called for an end to the development.
FG to leverage gas utilisation for flare reduction, petrol divestment
With Nigeria flaring 321.29 billion cubic feet (bcf) of gas, about 11 percent of gas produced, the Federal Government has said its agenda under the National Gas Expansion Programme (NGEP), will reduce flaring and aid divestment from use of dirty fuels like petrol and diesel. According to the Minister of State for Petroleum Resources, Timipre…
Oil coy pledges support for renewed global cooperation, corporate governance
Indigenous energy solutions provider, Oando, has pledged support for the United Nations (UN’s) inclusive multilateralism Statement for Renewed Global Cooperation, by endorsing the development agency’s 75th anniversary on corporate governance.