Category: Energy

What ND Western, Partners’ Completion of SPDC’s $2.4 Bn Acquisition Means For Nigeria – Kalejaiye

ADEOLA YUSUF

      More facts have emerged on the completion of historic acquisition of pioneer oil and gas firm in Nigeria, Shell Petroleum Development Company (SPDC). Platforms Africa has, in an exclusive story, earlier reported the re-christening of SPDC, a company established in 1979, after the Renaissance Africa Energy Company (RAEC) finalised the deal. Chief Executive Officer of ND Western Limited, Mr. Lanre Kalejaiye told Platforms Africa in a statement at the weekend that that $2.4 billion “landmark acquisition marks a significant milestone in Nigeria’s energy sector.” Kalejaiye’s Company, ND…

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NERC Moves Oversight To Plateau State Regulatory Commission

ADEOLA YUSUF

The Nigerian Electricity Regulatory Commission, has issued an order to transfer its regulatory oversight of the electricity market in Plateau State to the Plateau State Electricity Regulatory Commission (PSERC). The development is in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended),the Commission said in a statement on Friday. With the EA 2023, the Commission retains the role as a central regulator with regulatory oversight of inter-state/international generation, transmission, supply, trading and system operations. The EA also mandates any state that…

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SPDC Renamed After 46 Years As Renaissance Seals $2.4Bn Acquisition

ADEOLA YUSUF

Historic: Everything Tony Okonedo said about the deal that led to the re-christening of SPDC, the pioneer of petroleum industry in Nigeria + NEW NAME   Shell Petroleum Development Company of Nigeria (SPDC) has been renamed Renaissance Africa Energy Company Limited after 46 years of operation in Nigeria. Platforms Africa reports that this was sequel to the acquisition of the company’s entire stake by Renaissance Africa Energy Holdings today, Thursday, March 13, 2025. Renaissance announced that it had successfully completed the landmark transaction between itself and Shell for the acquisition…

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Angry Trump Calls Canada ‘Tariff Abuser’ After Electricity Surcharge

ADEOLA YUSUF

President Donald Trump called Canada a “tariff abuser” Monday and claimed the United States did not need Canadian energy after the province of Ontario imposed an electricity surcharge on three US states. The leader of Ontario, Canada’s most populous province, said earlier Monday that it was adding a 25 percent surcharge on electricity exports to Michigan, Minnesota and New York — where it powers 1.5 million homes and businesses. “Ontario just announced a 25% surcharge on ‘electricity,’ of all things,” Trump said, claiming the province was “not even allowed to…

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FACT CHECK: Did NNPC Suspend Naira-For-Crude Sale With Local Refiners?

ADEOLA YUSUF

      Words like suspension and termination have been used by a section of the media to describe a six-month contract billed to expire at the end of March 2025     A section of the Nigerian media was on Monday awashed with a report that the Nigerian National Petroleum Company Limited (NNPC Ltd) has suspended the naira-for-crude contracts with local refineries. The report published by BusinessDay and a few online newspapers claimed that the said decision affected refiners, “including Dangote Refinery and other private operators.” The decision, which…

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‘2nd Time In Two Months,’ National Grid Collapses

ADEOLA YUSUF

The National Grid has collapsed on Friday with Nigeria experiencing black out. Reacting to the development in a statement, the Ikeja Electricity Distribution Company said, “please be inform that we experienced a system outage today 07/03/2025 at about 14.00hrs, affecting supply within our network.” Urged customers to bear with them as restoration of supply is ongoing. ‘Money Cannot Buy You Health o,’ Singer Teni Reveals Struggle With Illness ‘Significant’ Oil Volume Discovered in Nigeria’s Songhai Field Recall that the Minister of Power, Adebayo Adelabu, had on March 2nd 2025 assured…

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‘Significant’ Oil Volume Discovered in Nigeria’s Songhai Field

ADEOLA YUSUF

‘How, when we hit the Jackpot from eight reservoirs, logging over 1,000 feet on OML 85,’ NNPC Limited and FIRST E&P JV gives details The Nigerian National Petroleum Company Limited (NNPC Limited) and FIRST Exploration & Petroleum Development Company Limited (FIRST E&P) Joint Venture (JV) have confirmed a significant hydrocarbon discovery in the Songhai Field, located in OML 85. Platforms Africa reports that the well was spudded on November 18, 2024, as part of efforts to increase and sustain the JV’s oil production over the next five years. It was…

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FULL STORY: How, Why Military Invaded Ikeja Electric Offices

ADEOLA YUSUF

A viral video shows military personnel armed within the premises, with over seven staff members kneeling while others are being assaulted   Military personnel on Thursday stormed the offices of Ikeja Electricity Distribution Company. Platforms Africa reports that the uniformed men forced their way into the company’s headquarters, located opposite MITV in Ikeja, Lagos, around 7:40 a.m. Similar incident occurred at the Ikeja Electric office on Ago Palace Way, Okota, Isolo, Lagos. A viral video shows military personnel armed within the premises, with over seven staff members kneeling while others…

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‘We Don’t Want Peace,’ Nigerians Want NNPC, Dangote Price War To Continue

ADEOLA YUSUF

. How the ‘beneficial price war’ crashed petrol price to N860 per litre   The prevailing competition in fuel refining appears to be bringing succour to petroleum products consumers across the country, as the major refining firms Dangote Petroleum Refinery & Petrochemicals and the Nigerian National Petroleum Company Limited (NNPC), engage in price slash game in a bid to dominate the market. The marketing strategy, popularly referred to as “price war” by stakeholders, is forcing the prices of Premium Motor Spirit (PMS) down at the filling stations. Already, some marketer…

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NNPC Reduces Petrol Price To ₦‎860/Litre

ADEOLA YUSUF

The Nigerian National Petroleum Company Limited, NNPCL, has announced a reduction in the pump price of Premium Motor Spirit (PMS), commonly known as petrol, to N860 per litre. This development is the latest in a price war among oil marketers and independent petroleum dealers. It is also influenced by fluctuations in global crude oil prices. The new NNPCL price, which takes effect on Monday, marks a significant drop from the previous average of N920 per litre. Former UNILAG Chief Imam Prof. Murtala Bidmos Is Dead DevReporting Takes Off, Names Mojeed…

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