Federal Government, States to Partner on Electricity Following the new law decentralising electricity, the Federal Government has expressed willingness to partner with states on power generation. The Fifth Alteration Bill No. 33 (Devolution of Powers) allows states to generate, transmit and distribute electricity in areas covered by the national grid. Commissioner, Legal, Licensing and Compliance,…
Norway Makes Biggest Hydrocarbon Discovery In 10 Years Norwegian oil and gas operator, DNO ASA, has made a significant gas and condensate discovery on the Carmen prospect in the Norwegian North Sea. Preliminary evaluation of comprehensive data indicates gross recoverable resources in the range of 120-230 , making millionCarmen ranks as the largest discovery on…
Energy Evolution is driven by hydrocarbon and renewables In her welcome speech at the 16th Nigerian Association for Energy Economics (NAEE), held in Abuja, President of the association, Professor Yinka Omorogbe (SAN), said the topic was apt in line with energy evolution and transition. The topic of the conference is Energy Evolution, Transition and Reform: Prospects for African…
Samsung Heavy Industries Completes 1,500km Autonomous Voyage South Korean shipbuilder Samsung Heavy Industries (SHI) has successfully tested its autonomous navigation technology on board a 15,000 TEU containership. The autonomous voyage covered a distance of approximately 1,500km from Jeju Island, South Korea to Kaohsiung Port in Taiwan, across the East China Sea and parts of the…
Nigeria’s Petrol Use Down 28% After Subsidy Scrapped – Regulator Nigeria’s average daily petrol consumption has fallen by 28% since President Bola Tinubu scrapped a popular but costly subsidy on the fuel at the end of May, data from the industry regulator shows. Average daily petrol consumption fell to 48.43 million litres in June, down…
DisCos intensify efforts for electricity tariffs hike approval There is no respite yet for electricity consumers with Distribution Companies (DisCos) still pushing ahead with their bid for Federal Government’s approval to raise the tariffs. Last week, the National Electricity Regulatory Commission (NERC) halted the 40 per cent tariff hike planned by the DisCos following…
Niger, China Discuss Uranium Mine and Other Deals The West African nation of Niger and China have been discussing deals that include an industrial park, an oil pipeline and a uranium mine. The Chinese ambassador to Niger, Jiang Feng, said China would build an industrial park that would impact industries including agro-food, manufacturing, mining and…
No fuel subsidy payments have been made to marketers since 2016 – NNPC Limited The Nigerian National Petroleum Company Limited has said that it will reconcile fuel subsidy deductions with the Federal Government, after stating that no fuel subsidy payments were made to marketers since January 2016. The company stated this on Tuesday, July 4 when it…
Offshore Rigs Tracker Sub-Saharan Africa June 2023 The Offshore Rigs Tracker offers the African petroleum industry the opportunity to track rigs’ movements and drilling campaigns offshore sub- Saharan Africa. It is released every quarter by the Caverton Offshore Support Group (COSG) Plc in partnership with Hawilti Ltd. The tracker is an important tool and business barometer for…
Publish Spending Details of N400bn Fuel Subsidy Savings, SERAP tells Tinubu Socio-Economic Rights and Accountability Project (SERAP) has urged President Bola Ahmed Tinubu to publish details of spending of about N400bn so far saved as a result of the removal of subsidy on Premium Motor Spirit (PMS), popularly known as petrol. SERAP also asked Tinubu…
