Ekperikpe Ekpo, State Minister of Petroleum Resources (Gas), announced yesterday that the federal government has finalized an agreement with Shell to provide gas for the proposed Brass methanol plant, estimated at $3.8 billion. Ekpo disclosed that the Gas Supply and Purchase Agreement (GSPA) crucial to the project will be signed in May 2024 after fruitful […]Read More
The United States has increased its production of oil and gas dramatically during the past two years, even as it has increased its capacity for renewable energy. Energy shortages and threats to numerous countries’ energy security occurred worldwide when Russia invaded Ukraine and sanctions were imposed on Russian energy. Because of this, a large number […]Read More
Savannah Energy, the British independent energy company, has sealed a deal worth $60 million to acquire the remaining 49 percent stake in the Stubb Creek oil and gas field from Sinopec International Petroleum Exploration and Production Corporation (SIPC). The acquisition solidifies Savannah Energy’s complete ownership of the Stubb Creek asset, adding to its already existing […]Read More
In a significant move to address the persistent challenges in Nigeria’s power sector, the eleven Electricity Distribution Companies (DisCos) have secured a credit facility totaling N273.34 billion from the Central Bank of Nigeria (CBN). This substantial sum, allocated under the Nigerian Electricity Market Stabilization Facility intervention project, aims to bolster the country’s electricity infrastructure and […]Read More
In a bid to confront the mounting challenges posed by debt burdens and climate emergencies, the International Development Association (IDA), the World Bank’s fund dedicated to the world’s most impoverished nations, is pushing for an unprecedented surge in financial support. Dirk Reinermann, the head of resource mobilisation at the World Bank, stressed the critical importance […]Read More
In a landmark ruling, the Niger State High Court in Minna has awarded a staggering N1.1 trillion in compensation to the Samboro community in Rafi Local Government Area. This compensation is for the severe hardships endured due to the Zungeru Hydroelectric Power Project situated in the region. Justice Mohammed Mohammed, presiding over suit no: NSHC/6/2023 […]Read More
Mele Kyari, the Group Chief Executive Officer of the Nigerian National Petroleum Company Limited (NNPCL), has provided assurances that the long-awaited revival of the Port-Harcourt refinery is imminent, with operations slated to commence within the next two weeks. Kyari made these remarks during a crucial interaction with the Senate Ad-hoc Committee on Investigation of Turn […]Read More
The Honorable Minister of Power, Adebayo Adelabu, has commended the company’s noteworthy performance and pledged unwavering support towards improving the nation’s power landscape. He made this known while visiting Ikeja Electric Plc on Thursday, March 14, 2024, marking a significant step towards addressing Nigeria’s power challenges. During his visit, Minister Adelabu emphasised the crucial need […]Read More
In a bid to enhance the nation’s power supply, the Federal Government has issued a directive to the Nigerian Electricity Regulatory Commission (NERC) to revoke licenses of non-performing electricity distribution companies (DisCos). Adebayo Adelabu, Minister of Power, made this known during a crucial meeting with agency heads held in Abuja on Monday. Addressing the gathering, […]Read More
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