The Federal Government has paid a total of $3.22billion as cash call arrears to international oil companies (IOC), with a balance of $1.46billion as outstanding. This is contained in a document on Joint Venture repayment agreement status presented by the…
A United Kingdom citizen who had worked as a trader at Glencore Plc pleaded guilty in the U.S. to participating in an international scheme to bribe officials in Nigeria to win favourable treatment from the state-owned oil company. Anthony Stimler…
The Nigerian Association for Energy Economics (NAEE) has called for more clarification on the 30% NNPC Limited transfer of oil and gas profit to frontier exploration in the just-passed Petroleum Industry Bill (PIB). This was charge was made known by…
By Uthman Salami The international Energy Agency (IEA) has revealed that over seven hundred seventy million Africans have no access to electricity. In this population of Africans without access to electricity, Nigeria accounts for about 10 per cent. According to…
Nigerians, and by extension, their businesses, expend about N7 trillion annually on power generation, a Renewable Energy expert, Mr Stephen Ogboko, has said. Ogboko, also the Executive Director and Chief Operating Officer, Off Grid Tech Solutions Ltd., made this known…
By Uthman Salami The Nigerian Bulk Electricity Trading (NBET) Plc has said the federal government is aggressively introducing liquidity and stability back into the Nigerian moribund power sector. The company said various initiatives and interventions as contained in the Power…
Sirius Petroleum, the Africa focused oil & gas production and development company, has signed a Memorandum of Understanding (‘MOU’) with Baker Hughes. The MOU appoints Baker Hughes as the approved services provider to Phase 1 of the approved work programme…
By Gloria Akudoro, Abuja The Nigerian National Petroleum Corporation (NNPC) has said that the Port Harcourt Refinery, currently undergoing a $1.5 billion rehabilitation spree, will start delivery of refined products by September 2022. This followed the official signing of contract…
By Gloria Akudoro The Enugu Electricity Distribution Company (EEDC) has begun the distribution of meter to the electricity users of Umuahia metropolis, Abia State, bringing to an end the unscrupulous power billing every month. The reports from Niger Delta Connect…
Gloria Akudoro, Abuja The Minister of State, Petroleum Resources, Mr. Timipre Sylva, said the federal government has lost revenue in taxes, royalties and other payments on the Atala oilfield located in Bayelsa including 10 others revoked in April 2020. The…
