In a major development, the $2.8 billion Ajaokuta-Kaduna-Kano (AKK) gas pipeline project has finally crossed the River Niger, an axis that had seriously hampered the planned completion of the project on schedule. It was learnt that the crossing was done through the deployment of high technology facilities by Oilserv Limited, the contractors handling section A…
The Nigerian Navy says its operations have restored near normalcy in the nation’s crude oil production. The outgoing Flag Officer Commanding (FOC) of the Eastern Naval Command, Rear Adm. Saheed Akinwande stated this during a farewell parade in his honour in Calabar on Friday. He said the command, which covers operations in 13 states, had…
As international oil companies (IOCs) increasingly shift their operations to deep offshore locations, Nigeria’s oil and gas landscape is witnessing a surge in local ownership and strategic investments. The ongoing divestment from onshore assets has sparked significant changes in the industry, creating unprecedented opportunities for indigenous companies to take on a greater role in the…
The stage is set to get final approval for full commencement of the Nigeria-Morocco Gas Pipeline project. The project, estimated at $25 billion, aims to boost energy security and economic integration across several West African nations. The project’s final institutional step is about to receive ECOWAS heads of state official approval. This strategic 6,900-kilometer pipeline…
The World Bank Group and the International Atomic Energy Agency (IAEA), Thursday sealed an agreement to partner in supporting the safe, secure and responsible use of nuclear energy in developing countries. The partnership agreement, signed by the World Bank Group President, Ajay Banga and IAEA Director General, Rafael Mariano Grossi, finally formalised multiple engagements between…
The Rural Electrification Agency (REA) and First City Monument Bank (FCMB) have entered into a strategic collaboration to provide a ₦100 billion Naira loan facility targeted at accelerating private sector-led deployment of renewable energy solutions across the country. The agreement supports the implementation of the Distributed Access through Renewable Energy Scale-Up (DARES) initiative and will…
The Federal Government is considering strategic interventions to address power tariff challenges affecting gas supply and payment structures at key Nigerian National Petroleum Company Limited ( NNPCL)-led thermal power plants. A high-level meeting was held at NNPC Towers in Abuja between the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo; the Minister of Finance…
Nigeria and Brazil signed a $1bn (R17.7bn) agreement on Tuesday to boost agriculture, food security, energy and defence in the West African nation, Nigeria’s Vice-President Kashim Shettima said. The two countries aim to “deploy more than R1bn to deliver mechanised farming equipment, training and service centres across Nigeria,” Shettima said in a statement posted on…
Shell Nigeria is celebrating Country Chair Osagie Okunbor, who is retiring this month after 39 years of service. Stakeholders in the oil and gas industry, including government officials, regulators, and chief executives of indigenous and international oil companies, are joining to honour Okunbor at the milestone ceremonies, which began in Abuja last night The dignitaries…
The world braced on for Iran’s response after the U.S. attacked key Iranian nuclear sites, joining Israel in the biggest Western military action against the Islamic Republic since its 1979 revolution. Iran vowed to defend itself a day after the U.S. dropped 30,000-pound bunker-buster bombs onto the mountain above Iran’s Fordow nuclear site while American…
