Shell Executive Notes Significant, Though High, Reduction in Global LNG Prices
Steve Hill, the Executive Vice President at Shell, acknowledged a significant but still historically high reduction in liquefied natural gas…
Category: Energy
Shell Signs Letter of Intent for Floating Production Unit in U.S. Gulf of Mexico
Shell Offshore, a subsidiary of Shell, has entered into a letter of intent (LOI) with Seatrium Oil and Gas International,…
Ukraine and Russia Clash Over Black Sea Oil and Gas Platforms; Military Activity Intensifies
The UK Ministry of Defence has reported that Ukraine and Russia are engaged in a conflict over strategic oil and…
Uncertain Prospects for Port Harcourt Refinery Restart as Doubts Surface Over Deadline
The hopes for the Port Harcourt refinery’s resumption of fuel production by December 2023, following its Turn Around Maintenance (TAM)…
Equinor’s Milestone Floating Wind Power Project Amidst Industry Challenges
Equinor, a leading energy company from Norway, has achieved a groundbreaking feat by unveiling the world’s largest floating wind power…
Transcorp Group: A Driving Force for Nigeria’s Energy Transformation
Transcorp Group, under the leadership of Chairman Tony Elumelu, is emerging as a pivotal force in propelling Nigeria and Africa…
Nigeria Requires $20 Billion Annual Investment for Gas Expansion Projects
The Nigerian government has stated that approximately $20 billion in annual investments will be necessary to achieve the desired expansion…
Nigerian Electricity Supply to Niger Faces Payment and Political Challenges
According to the Nigerian Electricity Regulatory Commission’s (NERC) first-quarter report, Niger currently owes Nigeria N4.22 billion ($5.48 million) for power…
World Bank, Clean Technology Fund, and Dutch Cooperation to Finance $338.7 Million Solar Power Projects in West Africa
A consortium comprising the World Bank, Clean Technology Fund, and the Dutch Cooperation is set to finance solar power projects…
Seplat Energy Records 10.21% Growth in Gas Revenue for H1 2023
Indigenous energy company, Seplat Energy Plc, reported a 10.21% increase in its gas revenue for the first half of 2023,…
Nigerian Electricity Consumers to Receive Compensation for Poor Service Delivery
The Nigerian Electricity Regulatory Commission (NERC) has introduced a compensation scheme for electricity consumers who receive poor service from their…
Globeleq Expands Renewable Portfolio in Africa with Acquisition of Mocuba Solar Plant in Mozambique
Globeleq, the leading independent power company in Africa, has reached an agreement to acquire Scatec A.S.A.’s 52.5% stake and KLP…
Federal Government Faces Revenue Shortfall from Gas Flaring Penalties
The Federal Government recorded a revenue shortfall of N13.33 billion in January and February 2023 from gas flaring penalties issued…
Geregu Power Makes N8.78bn Advance Payment to Italian Firm for Turbine Overhaul
Geregu Power Plc, a power generating company in Nigeria, revealed that it has made advance payments totaling N8.783 billion to…
Amea Power Secures $75 Million Funding from SoftBank Group for Expansion
Dubai-based renewable energy company, Amea Power, has successfully secured a $75 million equity funding round from SoftBank Group, a renowned…
Concerns Mount Over Power Tariff Review Amid Rising Subsidy Costs
The Nigerian Electricity Regulatory Commission (NERC) has reported that the Federal Government’s spending on electricity subsidy has soared to N2.8tn,…
Nigerian Power Distribution Companies Apply for Tariff Review
The Federal Government has announced that the 11 power distribution companies (Discos) in Nigeria have submitted applications for the review…
New Gas Pricing Template and Clearing Power Sector Debts: Boosting Nigeria’s Decade of Gas
A new gas pricing template for the power sector and gas-based industries in Nigeria is awaiting approval from President Bola…
Nigeria’s Dominance in Africa’s Gas Market: A Promising Future
Nigeria’s gas reserves have positioned the country as a dominant player in Africa’s gas market, accounting for 33 percent of…
50 New Power Generation and Metering Licenses are Issued by NERC.
The Nigerian Federal Government granted 50 new power generation and metering permits in the last quarter of last year, according…
According to NBS, Discos made N480 billion in Six Months.
According to the National Bureau of Statistics’ latest Electricity Report for the first quarter of 2023, despite a 1.74 percent…
States start the process of establishing utility commissioners under the Electricity Act of 2023.
There are significant signs that the state governments, which are considered to be federating units under the constitution, may have…
As Billing Revenues Reach N842 billion in a Year, Discos’ Collection Efficiency Increases.
According to the most recent data made available by the Nigerian electrical Regulatory Commission (NERC), the collection efficiency of the…
Electricity Act: Manufacturers Predict a Sharp Decline in the Cost of Alternative Energy.
The new Electricity Act, according to the Manufacturers Association of Nigeria (MAN), will result in a sharp decrease in the…
NBET and Transcorp Sign 726MW Power Purchase Agreement.
Transcorp Power, the mother company of TransAfam Power Plant Ltd, and Nigerian Bulk Electricity Trading (NBET) inked a power purchase…
The $1.3 billion Zungeru Hydroelectric Plant has been completed and is ready for commissioning.
Abubakar Aliyu, Minister of Power, has announced that the 700 megawatt Zungeru Hydroelectric Power Project has been finished, emphasizing that…
FG Disconnects Discos from National Grid Over Debt.
Millions of electricity consumers could be plunged into darkness in the coming weeks as the federal government, through Nigeria’s transmission…
Nigeria Loses Contracts for Gas Export Due to Inadequate Investment.
Nigeria has lost gas export contracts worth billions of dollars due to a lack of investment in the sector. It…
Nigeria’s Gas Demand is Predicted to Increase by 50%.
The Nigerian Liquefied Natural Gas Limited predicts a 50% rise in gas demand in Nigeria over the next 30 years.…
FG Removes Power Companies from the National Grid.
The Federal Government said that it had started removing some power companies from the national grid because they were not…