The federal government has revealed that the 378.3 megawatts (MW) Egbema power plant in Imo state is near completion, assuring the acceleration of the project. Adebayo Adelabu, Minister of Power, who made this known over the weekend commended Hope Uzodinma, the State Governor, for his dedication to collaborating with Niger Delta Power Holding Company (NDPHC) […]Read More
French oil major TotalEnergies has planned to invest $600 million to strengthen exploration and production activities in the Republic of Congo in 2024, snubbing the Nigerian oil and gas sector for the second time in a week. Patrick Pouyanne, TotalEnergies’ CEO, stated last week in Kenya that the company chose to invest $6 billion in […]Read More
The Nigerian National Petroleum Corporation (NNPC) Limited has signed an agreement with American oilfield company, Schlumberger, to boost upstream operations in Nigeria’s oil and gas sector. The state-owned oil company made this known in a release signed by Olufemi Soneye, chief corporate communications officer of the NNPC on Thursday in Abuja. Speaking after the signing, […]Read More
John Anim, managing director of Platform Petroleum Limited, highlighted this improvement during a panel on ‘Investment Opportunities in Nigeria’ at the Invest in Africa Energy 2024 conference in Paris, France. He said that security challenges in the Niger Delta have significantly lessened. Anim attributed previous security issues to the exclusion of host communities from the […]Read More
EnAccess Foundation and the World Resources Institute (WRI), are championing the inaugural open-source in energy access initiative that fosters data-driven decision making. The World Bank, Energy Sector Management Assistance Program (ESMAP), and Prospect supported the inaugural Open Source in Energy Access Symposium (OSEAS), which took place in Abuja from May 7-10, 2024. Abba Aliyu, Acting […]Read More
Patrick Pouyanne, the chief executive officer of TotalEnergies, has revealed that the company is investing $6 billion in energy projects in Angola over Nigeria, citing inconsistency in policymaking in Nigeria as the primary reason for this decision. During the Africa CEO panel in Kigali, Rwanda, Pouyanne said that despite the Niger Delta’s status as West […]Read More
Oil and gas stocks, along with banking stocks, were among the biggest losers on the Nigerian Exchange (NGX) for the week ending May 18, 2024. The NGX Oil/Gas Index, which monitors the performance of five oil and gas stocks—Conoil, MRS, Eterna Plc, Seplat Energy, and TotalEnergies—dropped by 6.49 percent, ending the week at 1,177.92 points, […]Read More
Adebayo Adelabu, the Minister of Power, announced on Friday that the Nigerian government has paused granting regulatory autonomy to state governments. He explained that this decision stems from the necessity for state governments and power sector stakeholders to fully comprehend the requirements for operating an electricity market. The minister made this announcement during his speech […]Read More
Aliko Dangote, President of Dangote Petroleum Refinery, announced that the refinery will provide refined products like petrol, diesel, and aviation fuel to both the Nigerian market and other African countries once it is fully operational. Speaking at the Africa CEO Forum in Kigali, Rwanda, on Friday, Dangote stated that the 650,000 barrels per day (bpd) […]Read More
Dangote Refinery, Africa’s largest refinery, has turned to the United States for its crude oil supply, seeking a substantial shipment of 24 million barrels in the next 12 months starting July 2024. A Bloomberg report said the $20 billion refinery, established by Africa’s richest man Aliko Dangote, has issued a term tender to buy two […]Read More
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