The federal government has written off the bulk of legacy debts owed by the Nigerian National Petroleum Company Ltd. (NNPCL) to the federation account, wiping out about $1.42 billion and N5.57 trillion following a reconciliation exercise approved by President Bola Tinubu. The decision, contained in a regulatory document prepared by the Nigerian Upstream Petroleum Regulatory...
Author: Energy Crossroad (Energy Crossroad)
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GOIL Honours Long-Serving and Retiring Staff at Durbar and Service Awards Ceremony
The GOIL Staff Durbar, Service Awards and Thanksgiving ceremony was a significant occasion marked by pride, gratitude and reflection, as employees and management gathered to celebrate the company’s collective journey.The event provided an opportunity to recognise and honour long-serving staff who have dedicated between 10 and 30 years of service to the organisation, acknowledging their...
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Sustained financing vital for TOR’s future operations – COPEC
The Chamber of Petroleum Consumers (COPEC) has underscored the need for consistent financial backing to safeguard the long-term operations of the Tema Oil Refinery (TOR). Speaking on Channel One News on Saturday, December 27, COPEC’s Executive Secretary, Duncan Amoah, welcomed the resumption of refining activities at TOR after several years of inactivity, describing it as...
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African Development Fund Approves $23 Million to Boost Clean Energy Access in Somalia
The Board of Directors of the African Development Fund has approved a grants package worth $23.36 million to bring clean and reliable electricity to the city of Bosaso, Somalia. The Rehabilitation and Expansion of Bosaso Power Grid and Strengthening of Energy Sector Institutions project, funded through the African Development Fund ($9.62 million) and the Transition...
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Tema Oil Refinery officially resumes operations
The Tema Oil Refinery (TOR) has restarted crude oil refining operations after several years of inactivity, marking a major step in efforts to revive Ghana’s downstream petroleum sector. The resumption follows the successful completion of extensive Turnaround Maintenance (TAM) works on the refinery’s Crude Distillation Unit (CDU), carried out between August 1 and October 30,...
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Public Ownership Won’t Cure Power Market Volatility
There are at least two places, San Francisco and the mid-Hudson Valley in New York, where political activistss are currently advocating for a public takeover of the local investor-owned utility. Pacific Gas and Electric is owned by utility holding company PG&E Corporation and the service territory of the former Central Hudson Gas & Electric Company...
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National Oil Companies Quietly set the Pace for the Next Decade
The prevailing structural theme right now is that national oil companies (NOCs), in some cases and across some segments, are moving faster than the majors, outspending them, beating them in locking up supply chains, and building cash cows faster for the future. You can see it directly in upstream spending trends highlighted by the IEA...
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US, Russia Allegedly Discuss Nuclear Plant Crypto Mining
Russian media claimed on Friday that the Trump administration held talks with Russia over joint management of Ukraine’s Zaporizhzhia Nuclear Power Plant, including the potential to use its power for crypto mining, Russian newspaper Kommersant has revealed. The discussions, which have not been independently confirmed, were allegedly held without Ukraine’s participation, and likewise proposed resuming...
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Gov’t targets 99.9% electricity access by 2030 – Deputy Energy Minister
Government has reaffirmed its commitment to achieving near-universal access to electricity, pledging to raise the national access rate from the current 89.03 per cent to about 99.9 per cent by 2030. Deputy Minister for Energy and Green Transition, Richard Gyan Mensah, said the goal is central to accelerating socio-economic development, particularly in underserved communities. Government...
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Deputy Energy Minister Inspects 141MW AKSA Power Plant at Anwomaso in the Ashanti region.
The Deputy Minister of Energy and Green Transition, Richard Gyan-Mensah, on behalf of the Sector Minister, Dr. John Abdulai Jinapor, has led a working visit to the 141-megawatt AKSA Power Plant at Anwomaso to inspect ongoing commissioning works. The visit forms part of the government’s broader efforts, under the leadership of President John Dramani Mahama,...