Category: Energy

EFCC offers $9.7m, £74, 000 seized from NNPC ex-GMD for Court inspection

Dawood Rabiu

  The Nigeria’s anti-graft agency, Economic and Financial Crimes Commission (EFCC), has urged the Federal High Court, Abuja, to visit the Kano branch of the Central Bank of Nigeria (CBN) to inspect the hard currency ( $9.7 million and £74, 000) seized from the former Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Andrew Yakubu. Counsel to the EFCC, Mohammed Abubakar, while moving a motion filed on Nov. 17, 2020, before Justice Ahmed Mohammed, also urged the court to conduct proceedings in the premises of the bank…

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96 foreign, local firms jostle as race for NNPC’s key downstream Contracts begins

Efe Wellington

  96 prominent and reputable companies from various jurisdictions have indicated interest in undertaking the rehabilitation of the Nigerian National Petroleum Corporation’s (NNPC) downstream infrastructure ranging from critical pipelines to depots and terminals through the Build, Operate and Transfer (BOT) financing model. The corporation confirmed this at a virtual public bid opening exercise which held at the NNPC Towers, Abuja for the pre-qualification of companies for the contract. Group General Manager, Group Public Affairs Division of the NNPC, Dr. Kennie Obateru, in a statement sent to Platforms Africa, stated that…

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NNPC alters revenue streams as OPEC+ quota cut weighs-in on revenue

Efe Wellington

    The Nigerian National Petroleum Corporation (NNPC) has announced a major shift in focus to gas, condensate and other revenue streams to tackle the revenue challenge arising from the OPEC+ production cut arrangement. The corporation stated this in a statement to Platforms Africa quoting its Group Managing Director, Mallam Mele Kyari, to have informed an ongoing virtual Gulf Intelligence “Global” UAE Energy Forum 2021 of the plan. “NNPC reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its…

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Nigeria’s Power transmission hits all-time peak of 5,552.80MW

Dawood Rabiu

  The Transmission Company of Nigeria (TCN) says it has successfully transmitted an enhanced all-time peak of 5,552.80 Mega Watts (MW) on Wednesday at 8.15pm. General Manager, Public Affairs of the company, Mrs. Ndidi Mbah, who said this in a statement in Abuja on Thursday, added that this latest all-time peak transmitted, surpassed the last peak generation of 5,520.40MW which was effectively transmitted by TCN on Oct. 30, 2020 by 32.40MW. The new peak, she said, was an indication of the gradual but consistent growth in the capability of the…

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Nigeria shifts electricity tariff hike implementation to January End

Aliyu Aliyu

  The Nigerian Government has shifted the implementation of fresh electricity tariff hike for its citizens to the end of January 2020. Country’s Minister of Power, Mr Saleh Mamman, who stated this in a statement obtained by Platforms Africa, maintained that he had directed the Nigerian Electricity Regulatory Commission (NERC) to inform all Electricity Distribution Companies(DISCOs) to revert to tariffs that were applicable in Dec. 2020 pending the time. Speaking through the statement by Mr Aaron Artimas, his Senior Special Adviser, Media and Communications, Mamman declared that the reversal to…

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Nigeria Slams Fresh Electricity Tariff hike on Consumers

Efe Wellington

  Here is why DisCos Customers should expect  hike in January bill, two months after the last tariff increase implementation  Electricity consumers in Nigeria are to pay as much N4 per kilowatt hour (/KwH) more for the January bill as the Nigerian Electricity Regulatory Commission, NERC, has approved a minor hike in electricity tariff payable by customers of the 11 Distribution Companies, (DisCos) in the country. This is coming just two months after the Commission finally implemented a much opposed hike in November 2020. According to a revised Multi Year…

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Nigeria Disqualifies 439 Firms In Oil Blocs’ Bid Round

Efe Wellington

  161 companies now in race for 57 marginal fields – DPR The Department of Petroleum Resources (DPR) has disqualified 439 firms as bid round for marginal oil fields entered the final stage. Over 600 companies applied for pre-qualification, but spokesman for the DPR, Mr. Paul Osu, who confirmed the screening to Platforms Africain phone, declared that only 161 companies are now in race for the licensing round. “One hundred and sixtyone successful companies have been shortlisted to advance to the next and final stage of the bid round process…

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Gas Flaring: Buhari Commissions NPDC’s 200m scuf Waste-to-Wealth Facility

Efe Wellington

  Nigerian National Petroleum Corporation (NNPC) has recorded a major feat in gas flaring reduction as it announced completion of integrated gas handling installation designed to function as a waste-to wealth facility that converts hitherto flared gas to valuable lean gas that is LPG cum domestic cooking gas. President Muhammadu Buhari has already been slated, according to the Corporation for the commissioning of the 200 million scuf per day capacity plant. The IGHF via its LPG Storage and Dispensing Unit, dispenses at full throughput about 330 tonnes of LPG per…

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NCDMB offers $30m loans, crashes interest rate to 8% for local oil firms

admin

NCDMB offers $30m loans, crashes interest rate to 8% for local oil firms     The Nigerian Content Development and Monitoring Board (NCDMB) and the Petroleum Technology Association of Nigeria (PETAN) on Monday signed an agreement on US$30m Working Capital Scheme that will support the operations of oil companies against the adverse effects of COVID-19 Pandemic and loss of contracts due to low oil price. The Executive Secretary of NCDMB, Engr. Simbi Kesiye Wabote and the Chairman of PETAN, Mr. Nicolas Odinuwe signed the Memorandum of Understanding (MoU) on the…

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Shell dismisses alleged staff involvement in pipeline vandalism

Efe Wellington

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has dismissed a report alleging that its staff were involved in crude oil pipeline vandalism for a gain, describing the report as lacking substance and without proof. “SPDC does not have any formal report of named SPDC staff members or contractors involved in pipeline vandalism or crude oil theft,” SPDC’s Media Relations Manager, Bamidele Odugbesan, said in a statement on Thursday. “SPDC, like other Shell companies globally, investigates all credible reports it receives of misconduct or unethical behaviour and takes robust action…

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