ENERGY

Heirs Holdings (“HH”), the leading African strategic investor, in partnership with affiliated company Transnational Corporation of Nigeria Plc (“Transcorp”), Nigeria’s largest publicly listed conglomerate, announced today the unconditional acquisition of a 45% participating interest in Nigerian oil licence OML 17 and related assets, through TNOG Oil and Gas Limited (a related company of Heirs Holdings …

Intels Nigeria Ltd. an oil and gas logistics company, has said its business has not been hindered by political influences from the present government. The company made the clarification in a statement it issued on Tuesday, in Lagos. It will be recalled that on Monday, Intels announced that it had …

The management of the Nigerian Electricity Regulatory Commission (NERC) has said there is no 50 per cent increase in electricity tariff. This was made known by Mr Micheal Faloseyi, NERC’s Head of Public Affairs, in a statement in Abuja on Tuesday. Faloseyi spoke against the backdrop in some quarters that …

The Lagos Chamber of Commerce and Industry has drawn government attention towards some provisions in the new Petroleum Industry Bill (PIB). While declaring the chamber’s full support towards governmental efforts to drive industry reform through a new Petroleum Industry Bill, LCCI Director-General, Dr Muda Yusuf said the bill should seek …

The Senate on Tuesday has raised concerns over reports that the nation loses over $120m annually, following overwhelming patronage of foreign shipping firms in the shipment of petroleum products. The upper chamber has therefore, directed the Nigerian National Petroleum Corporation to initiate the processes of patronising and boosting the capacities …

The Ibadan Electricity Distribution Company Plc (IBEDC) said it has begun the implementation of the revised service-based reflective tariff as approved by the Nigerian Electricity Regulatory Commission (NERC). The new tariff is effective from 1st November 2020. In a statement by the Head Branding and Corporate Communications, Angela Olanrewaju, the …

The Federal Government is to spend between N269.38bn and N497.13bn on the provision of six million free meters to various unmetered power users across the country. Also, findings from separate quarterly reports of the Nigerian Electricity Regulatory Commission on the power sector showed that the number of unmetered customers in …

By Elvis Eromosele Lagosians woke up to the news of another gas plant explosion, this time is Baruwa, a suburb in a densely populated neighbourhood in Alimosho area of the state. So far eight persons have been confirmed dead with tens of others injured. Reports already indicate that at least …

Central Bank of Nigeria (CBN) yesterday made public the framework for the implementation of the solar connection facility, which it said would create about $2 billion yearly market opportunity. The apex bank also yesterday reiterated that its aggressive deployment of unconventional policies since the outbreak of the COVID-19 was to …

The Federal Government, through the Department of Petroleum Resources, has directed 9,000 filling stations in the country to commence the installation of facilities for gas products. The Director, DPR, Mr Sarki Auwalu, said the agency issued the directive to deepen the utilisation of liquefied petroleum gas, compressed natural gas, liquefied …