National Oil Companies (NOCs) are diversifying beyond their upstream oil and gas core, with major NOCs forecast to spend over US$116 billion in new petrochemicals projects, according to GlobalData, a leading data and analytics company. The company’s analysis of NOCs’ portfolios shows that while many NOCs have historically diversified internationally, this strategy was generally not adopted…
In a move to speed up the development of its local subsidiary (Entrepose DBN), and widen its reach in the nation’s Oil, Gas and industrial sectors, Entrepose Group has formed a strategic partnership of being an EPC contractor with Shoreline through the sale of 51 per cent of the company’ share capital. Engineering, Procurement and…
• Nigeria records $3.038b, N60.997b loss in oil sector • Oil prices fall as Russia promises high output • We expect OPEC to hold firm on $70, says Kachikwu President Muhammadu Buhari (right); ECOWAS President, Jean Claude Brou; Special Representative of UN Secretary General on West Africa and Sahel, Dr. Mohammed Ibn Chambers and ECOWAS…
The federal government has disclosed plan to re-sell the Yola Electricity Distribution Company as well as privatise the Afam Power Plant. The proceeds from the sale are expected to be utilised in funding part of the 2018 budget. The Director General of the Bureau of Public Enterprises (BPE), Mr. Alex Okoh, revealed this in Lagos…
A project to boost self-help initiatives shows Japan’s long-standing connection to helping South Africans THE GRANT Assistance for Grassroots Human Security Project (GGP) is one of various development co-operation schemes that Japan has been implementing in Africa. To date, more than 630 GGP projects amounting to approximately R559 million have been implemented throughout South Africa….
JOHANNESBURG, Oct 29 (Reuters) – UK-based off-grid power company BBOXX is looking to enter two new African markets in partnership with France’s EDF Group next year as it capitalises on growing interest in the sector from large energy companies, its chief executive said on Monday. The two companies announced last week that the French power…
South Africa’s national electricity supplier is finally making good on its promises to take renewable energy seriously. Eskom has released a 19-page report (pdf) outlining how it planned to implement its battery storage program. The two-phase program will start with an 800 megawatt-capacity distributed battery network. This first phase, due by December 2019, will see…
An Industrial and Energy Consultant at the Energy Foundation of Ghana, Mr. Andrew Quayson says providing varied sources of electricity for consumers should not be a national priority. He was of the view that the nation must first ensure that the power system becomes efficient by putting in place measures to reduce the cost of…
lbe Kachikwu, minister of state for petroleum resources, says Nigeria has the strongest economy in Africa. He described the country as the most profitable investment destination in the world. Kachikwu made the remark during the Nigerian oil and gas core strategic investors’ meeting in the US. The meeting is aimed at presenting investment opportunities in…
As part of the first oil and gas licensing round, the Ministry of Energy has invited bids from Oil and Gas companies, for direct negotiations without a public tender in respect of two of the Blocks GH__WB_05 and GH_WB_06, offshore Ghana. Interested companies as per the requirement must have relevant experience in ultra-deepwater exploration and…
