Oando divests interest in captive power plants
Oando Gas and Power (OGP) a subsidiary of Oando Plc recently announced its decision to divest its interest in captive…
FG approves N701bn Power Purchase Guarantee for Gencos
Further to complaints by Electricity Generating Companies (Gencos) that the inability of government-owned Nigeria Bulk Electricity Trading (NBET) to pay…
New charges of corruption slammed against Shell and Eni over their purchase of OPL 245
In the wake of controversies surrounding the purchase of Oil Prospecting License (OPL) 245, additional new corruption charges…
ENI releases the outcome of the independent investigation the $1.6b Malabu oil block sale
In view of the of the controversies surrounding the sale of the $1,616,690,656.78 valued Malabu oil block belonging to Nigeria…
ELAND OIL & GAS REPORT ON ITS NIGERIA OPERATIONS
Eland Oil & Gas, (an oil & gas development and exploration company operating Nigeria) recently gave a report on its…
NNPC PROPOSES A 3 YEAR PERIOD FOR THE CONVERSION OF ITS JVS TO IJV
The Nigerian National Petroleum Corporation (NNPC) recently made a public announcement that it would take at least three years to…
SIRIUS PETROLEUM ISSUES NEW ORDINARY SHARES AHEAD OF ORORO FIELD DRILLING
Sirius Petroleum, an investing company focused on oil and gas exploration and development opportunities in Nigeria recently declared that subscriptions…
SENATE TO PRESENT THE OIL GOVERNANCE BILL FOR ITS THIRD AND FINAL READING BY THE END OF THE MONTH
A representative of the committee handling the passage of Petroleum Industry Governance Bill; Senator Tayo Alasoadura, in a recent interview…
Shell and Eni file Motion for Discharge of an Exparte Order for forfeiture of assets and the transfer of operations of the OPL 245 field made against them
Further to an Exparte Order made by a Nigerian Court for the temporary forfeiture of assets and the transfer of…
Finalization of $1bn Eurobond by FGN
The Nigerian Government is to finalise a US$1bn Eurobond sale by the end of January, sources suggest, as the government…
Toyin in action
This is Sophie, teachig up to create ad amind
FG will not provide any more financial support for power sector “ Fashola
BY EDITOR ON JAN 20, 2017POWER The request for an intervention by the Federal Government in addressing the N1tn shortfall in the…
Nigeria, South African Govt Endorse Two-Year Work Plan
Nigeria and South Africa have endorsed a two-year work plan for the implementation of a Momerandum of Understanding (MoU) earlier…
NCDMB seals deal with Agip on Zabazaba and Etan deep water projects
The Nigerian Content Development and Monitoring Board (NCDMB) and Nigerian Agip Oil Company (NAOC) are set to work together to…
FG provides water usage permit for 300MW Itobe coal power plant
The federal government has approved the license for 300 megawatts (MW) Itobe-1 coal power plant to use 1125 cubic meters…
FG secures $1.3bn hydro power plant deal with China Exim Bank
The Federal Government, in partnership with China Exim Bank, will spend about $1.3bn on the construction of the 700 megawatt-capacity…
Chevron Fights $1.5 Billion Claim Over Nigerian Gas Rig Blast
Citing problems with fraud, lack of evidence and obstacles to enforcing a U.S. courts judgment overseas, Chevron has urged the…
Lagos plans to generate 3,000 Mw off grid
Lagos State Government has committed to generate 3,000 megawatts off the grid within the next five to seven years. In…
Northern governors sign MoU with GE for 5 solar power plants
The Northern States Governors Forum and General Electric have signed a memoranda of understanding (MOU)for the construction of five solar…
NNPC and Total JV begin gas supply to Alaoji Power Plant
The Nigerian National Petroleum Corporation (NNPC) and Total E&P Nigeria Limited (TEPNG) joint venture has begun gas supply to the…
Solar firm Lumos Global raises $90m for expansion in Nigeria, others.
Nigeria-focused off-grid solar installer Lumos Global recently secured USD 90 million in financing, most of which came from the Overseas…
Panoro set to launch arbitration, legal proceedings against Aje field partners
Panoro Energy ASA (“Panoro”), through its fully owned subsidiary, Pan Petroleum Aje Limited (PPAL), holds 6.502% participation interest in OML…
Nigeria rolling out investment incentives to improve power generation
Three years after the start of Nigerias power privatisation programme, the government is looking to burnish the attractiveness of the…
Lekoil receives Nigerian ministerial consent for initial OPL310 farm-in
Lekoil has received Ministerial Consent granted to by Mayfair Assets and Trust Limited, a wholly owned subsidiary of Lekoil Nigeria…
Southfield Petroleum set to begin development of $250m Utorogu gas project
Indigenous oil and gas company, Southfield Petroleum Limited has commenced the development of its $250Million flagship Utorogu project. Southfield Petroleum…
Forte Oil raises N9bn 5-yr fixed rate bond for operations.
Forte Oil Plc has successfully raised N9billion bond under its N50billion bond issuance programme.The funds raised will be used to…
JV Cash Call – Govt Reaches $5 Billion Settlement With 5 Oil Majors
The Federal Government has puportedly reached an outline settlement worth $5 billion with five International Oil Companies (IOCs) to cover…
