Nigeria’s state oil and gas company is planning to jumpstart an industrial boom in the north of the country thanks to a much-delayed gas pipeline, Reuters has reported, citing the chief executive of the Nigerian National Petroleum Company. “This is not just about energy,” Bashir Ojulari said. “It’s about industrialisation – fertiliser plants, power generation,...
Category: News
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FG writes off $1.42bn, N5.57tn NNPC debt after reconciliation
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...
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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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SSA: Fitch Solutions Projects Rise in Electricity Use in Buildings, Warns of Persistent Grid Constraints
Electricity’s share of energy use in Sub-Saharan Africa’s (SSA) buildings sector is projected to rise modestly from 17 per cent to 19.2 per cent by 2034, driven largely by rapid urbanisation and rising household incomes, according to Fitch Solutions.In its latest outlook, the UK-based research firm said major economies such as Nigeria, South Africa and...