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NNPC Blames Fuel Scarcity On Vandals, Unscrupulous Oil Marketers


The Nigerian National Petroleum Corporation, NNPC, yesterday blamed the persistent fuel crisis on the continuous vandalisation of the System 2B pipeline at Arepo, sharp practices by oil marketers and the delay in the payment of outstanding subsidy claims to the marketers. The NNPC in a statement in Abuja, after honouring the invitation of the Senate Committee on Petroleum Downstream, also ...

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EKEDC To Double Grid Supply With 474MW Embedded Project


Eko Electricity Distribution Company (EKEDC), at the weekend, declared that works are on-going on its embedded power generation programme, through which it planned to generate 474 Mega watt (MW). Chief Executive Officer of the company, Engineer Oladele Amoda, who said this during a post-privatisation visit of the Bureau of Public Enterprises (BPE) to the company in Lagos stated that the ...

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Electricity: Local Manufacturers Lose Out On One Million Meters

Electricity meter

The Federal Government’s intention of injecting one million new electricity meters into the country through local manufacturers may be reversed due to recent developments. The immediate administration of President Goodluck Jonathan had initiated the scheme with the funds for the meters deposited upfront in one of the banks. On January 15 this year, the then Minister of Power, Prof. Chinedu ...

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Presidency Orders Reassessment Of Gencos, Discos


BPE’s Fact-Finding Team Arrives Lagos President Muhammadu Buhari has ordered the reassessment of privatised power assets in Nigeria. A source at the Presidency, who disclosed this to our corressepondent, stated that the reassessment order was given based on some “mind-boggling” terms reached with new owners on behalf of government. These terms, the source said, allegedly put the government at the ...

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N’Assembly Halts 40% Electricity Tariff Hike


Over 60 million Nigerians who are connected to the national grid have been freed from the proposed 40 per cent hike in electricity tariff following the failure of the electricity distribution companies (discos) across the country to implement the tariff review last Sunday. Investigations by New Telegraph revealed that the failure to implement the plan was buoyed by an order, ...

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DPR Seals 2 Petrol Stations Selling Above Official Pump Price In Kwara


The Department of Petroleum Resources (DPR), Kwara Branch, on Saturday sealed two petrol stations in Offa Local Government Area of Kwara for selling above the official pump price. The State Controller of the DPR, Mr Philip Salvation, disclosed this in an interview in Ilorin. He listed the affected stations as AB Lawal Petroleum and De- Oduwoye brothers limited petrol both ...

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Why FG Has Not Paid N413bn Oil Subsidy – Kachikwu


The Minister of State for Petroleum, Dr. Ibe Kachikwu, yesterday justified the delay in the payment of N413 billion oil subsidy promised marketers two weeks ago. The minister, who addressed the heads of parastatals and directors of the ministry in Abuja after assuming office, stated that the payment has not been effected because the approval of the National Assembly is ...

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Nigeria’s Loss To Pipeline Vandalism Hits N2.8trn

Crude-Oil-Theft pipeline

The Federal Government and oil companies in Nigeria have lost a cumulative amount of N2.8 trillion ($14 billion) to oil pipeline vandalism in a year. The vandalism also resulted in the devastation of about 52,000 hectares of land in 2014, according to a report yesterday by The Guardian of London. Quoting data prepared by the Stakeholder Democracy Network (SDN) released ...

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Investment In Nigeria’s Oil,Gas Industry Is Down By 20 Per Cent – Chevron Boss


Mr Ali Moshiri,, the President of Chevron Africa and Latin America Exploration and Production, has said that the total investment in Nigeria’s oil and gas industry, which stood at 20 billion dollars in 2014, has dropped by 20 per cent in 2015. Moshiri disclosed this in Lagos at the 33rd annual conference of the Nigerian Association of Petroleum Explorationists (NAPE). ...

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Refineries Grounded, Hit Zero Output

Ibe Kachikwu

The nation’s refineries combined output has been completely grounded at zero, as the PortHarcourt refinery, which holds forth for the four refining assets also shut down. The Group Managing Director, Nigerian National Petroleum Corporation (NNPC) Dr. Ibe Kachikwu, who disclosed this at the Luncheon of the Petroleum Club in Lagos yesterday, said the the Port Harcourt refinery has been shut ...

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Nigeria’s Loss To Gas Flaring Exceeds $2.5bn Per Annum

Oil and gas installation

Highest body of stakeholders in the Liquefied Petroleum Gas (LPG) industry in Nigeria, the Nigerian Liquefied Petroleum Gas Association (NLPGA), released a new data on gas flaring in Nigeria at the weekend, declaring that the country’s loss to the air pollution is now over $2.5 billion per annum. President of the association, Mr. Dayo Adesina, who gave this data during ...

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Egbin Power Generation To Peak 2,670 MW By 2019


Egbin Power Plc at the weekend declared plans to double its generation to 2, 670 mega watt by 2019. Chairman of the company, Mr. Kola Adesina, who said this at a media briefing to assess activities of the firm, two years after it took over the assets of the unbundled Power Holding Company of Nigeria (PHCN) in Lagos, maintained that ...

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75% Nigerians Lack Access To Regular Power

Electricity POWER PLANT

Despite the huge investments made in the energy sector since the privatisation of the Power Holding Company of Nigeria, PHCN, about 75 percent of the Nigerian population still live without access to regular electricity supply. According to The Nigerian Association of Energy Economists, NAEE, despite statistics indicating that 45 percent of the country’s population is currently connected to the national ...

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FUEL SCARCITY: No Solution In Sight After N413 Billion Subsidy Approval


The scarcity of Premium Motor Spirit (PMS), commonly known as petrol, which hit the country few days ago, is beginning to subside following the approval of N413billion by the Federal Government for immediate payment of outstanding subsidy claims to oil marketers in the country . The payment according to government was to facilitate importation of petroleum products to ease scarcity, ...

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Epileptic Power: Abuja Residents Petition Presidency, Reps

Electricity intallation

Residents of Shebwokpma and Karu Extension layout Communities, a suburb in the Federal Capital Territory (FCT) have petitioned President Muhammadu Buhari and the leadership of the National Assembly over incessant power outage and alleged extortion by officials of the Abuja Electricity Distribution Company (AEDC). The petition jointly signed by the community leaders, Chief Sunday Eze, John Onoja, Isah Suleiman and ...

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Shell Commences Production From Bonga Phase 3 Project


Stories By Phillip Oladunjoye, Lagos Shell Nigeria Exploration and Production Company Limited (SNEPCo) has announced the start-up of production from the Bonga Phase 3 project. Shell’s Upstream International Director, Andrew Brown, said: “This new start up is another important milestone for Bonga, adding valuable new production to this major facility.” The company explained that Bonga Phase 3 is an expansion ...

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Ikeja Electric Begins Mass Roll Out Of Pre-Paid Meters

Electricity meter

By Olamide Bakare, Lagos With the completion of the pilot scheme of the advanced meter installation phase, which began in June this year, Ikeja Electric is set to commence the second phase of the project. Speaking at a press conference held at the head office of the distribution company, Chief Executive Officer, Mr. Abiodun Ajifowobaje, said the decision to embark ...

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Erin Energy Discovers Oil Offshore Ghana

Sinopec workers at work

Erin Energy Corporation has said that it has completed the resource volume assessment of the three previously discovered fields (Tano North, Tano West, and Tano South) in the Expanded Shallow Water Tano (ESWT) Block, located offshore Ghana. The company said in its production update that the ESWT block is operated by its subsidiary company, Camac Energy Ghana Limited, noting that ...

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Stakeholders Move To End Gas Flaring

By Phillip Oladunjoye, Lagos The recent pronouncement by Shell that it would focus its future investment in the country on gas should be welcome development. Industry observers are of the opinion that the move would also assist to reduce the volume of gas being flared in the country. The managing director of Shell’s joint venture in Nigeria, Osagie Okunbor, said ...

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COPL, Shoreline JV Eye More Asset Acquisition In Nigeria

Canadian Overseas Petroleum Limited (COPL), an offshore Africa-focused oil and gas exploration and development company, has said that the 50/50 JV partnership with Shoreline Energy, through its 50% owned affiliate Shoreline Canadian Overseas Petroleum Development Corporation (“ShoreCan”), was formed with the objective of acquiring upstream oil and gas exploration, development and producing assets in sub-Saharan Africa. The company stated this ...

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DISCOs To Commence Customers’ Enumeration To Prevent Electricity Theft

By Laide Raheem, Abeokuta Determined to tackle unaccountable commercial and collection losses being recorded by 11 electricity distribution companies operating in Nigeria’s power sector, Association of Nigeria Electricity Distributors (ANED) has disclosed that power distribution firms would soon begin customers’ enumeration exercise across the country to arrest irregularities and malpractices in electricity distribution. According to ANED, the customers’ enumeration became ...

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Alternative Funding Panacea To Joint Venture Operations

By Phillip Oladunjoye, Lagos In what seems to be an answer to the prayers of local players in the oil and gas industry for the federal government to explore other means of funding its joint venture operations with the International Oil Companies (IOC), the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Emmanuel Ibe Kachikwu, has said ...

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Spear Partners IHS Energy On Reservoir Management Services In Nigeria

Spear Engineering Consulting Services has said that it is partnering IHS Incorporated, owners of the Fekete Reservoir Management to provide efficient reservoir and well performance management services to Oil and Gas industry operators in Nigeria, Egypt and Equatorial Guinea. According to the Group Chief Operations Officer of Spear Ventures, parent company of Spear Engineering Consulting, Remi Akano, the partnership will ...

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Erin Energy Records Operational Progress Across Asset Portfolio

Erin Energy Corporation has said that it has continued to make steady progress across its asset portfolio. The Chairman and Chief Executive Officer of the company, Kase Lawal, who made this disclosure, said in a recent update of the company’s current operations that: “With the success of the Oyo-8 well and impending tie-in of the Oyo-7 well, we are very ...

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Examining Potentials In Renewable Energy

By Phillip Oladunjoye, Lagos There are indications that the Federal Government should focus more on developing the potentials in the renewable energy sub sector for it to meet the electricity requirement of Nigerians. Industry analysts believe that the constant drop in electricity generation and distribution usually occasioned by the vandalisation of gas pipelines by hoodlums would no longer affect electricity ...

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