Category: Energy

World Environment Day: Egbin Power Plc Charts Path For Environmental Sustainability

JUSTINA EMMANUEL OKPARA

…urges global concerted efforts Deliberate actions designed to further reduce environmental pollution in line with global agenda for sustainability have been outlined by Egbin Power Plc, the largest power generating station in Nigeria, to commemorate World Environment Day 2023, under the theme “Solutions to Plastic Pollution.” The GenCo, while raising awareness about the hazardous impact of pollution on the environment, also called for concerted global efforts among governments, businesses, and individuals towards building a more sustainable world. Speaking during the activities outlined to commemorate this year’s World Environment Day, Chief…

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Orjiako To Step Down As Chairman Of Seplat Energy

Dorothy Ewa

Seplat Energy Plc has announced the decision of its Chairman Dr. A.B.C. Orjiako to step down as Chairman of the Board of Directors of Seplat Energy Plc. Orjiako notified the Board of Directors of his decision yesterday, November 17, 2021. According to a statement from the company, in order to facilitate an orderly transition Orjiako will remain as Chairman until the next Annual General Meeting in May 2022, when an Independent Chairperson will take over. Orjiako is the co-founder and pioneer of Seplat Energy. Since 2009, as Chairman of the…

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NNPC Advises Tanker Drivers To Shelve Planned Strike

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The Nigerian National Petroleum Corporation (NNPC) on Sunday in Abuja called on petroleum tanker drivers to call off its planned strike in the interest and welfare of Nigerians. “The strike is about the condition of roads in various parts of Nigeria used for the distribution of goods and services including petroleum products. “While it is not the responsibility of the NNPC to build or rehabilitate roads, any disruption in the distribution of petroleum products will adversely affect the business of the NNPC. “It will also endanger energy security, which the…

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Power: NERC faults report on ECR suspension

Dorothy Ewa

Following reports making the rounds that the Eligible Customer Regulation (ECR) has been suspended, the Nigerian Electricity Regulatory Commission (NERC) said that it was not true and that at no time had the commission issued a directive for discontinuation of service to any customer. In a statement made available to journalists yesterday, the commission said that its attention was drawn to the report in both electronic and print media that the ECR issued by the commission in 2018 had been suspended. The ECR was designed to provide a very simple process…

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OPEC sees steeper oil demand drop as virus remains challenging

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World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said on Monday, potentially making it harder for the group and its allies to support the market.     World oil demand will fall more steeply in 2020 than previously forecast due to the coronavirus and recover more slowly than expected next year, OPEC said on Monday, potentially making it harder for the group and its allies to support the market.   World oil demand…

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Subsidy: CSOs seek targeted projects for N15.4bn

Ose Ojeme

  Following revelation by the Federal Government that fuel subsidy removal had taken a burden of N15.4 billion of its shoulders monthly, a group of civil society organisations has advised that the money be deployed in targeted projects rather than keeping it in the federation account.   The advice was given during a virtual workshop in Abuja that was hosted by Media Initiative on Transparency in Extractive Industries (MITEI), a non-profit group of media practitioners committed to the promotion of transparency in the extractive industries and facilitated by Facility for…

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Oil super major deepens asset sale in Nigeria 

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  International oil companies (IOCs) at the weekend deepened plans for sale of more assets in Nigeria as they slashed $12 billion off their global investment portfolios.   Blaming price rout buoyed by Coronavirus pandemic for the move, the IOCs including Shell, ExxonMobil, Total and Aker declared that they had already announced the slash in their investments to survive the big threat posed to their fortunes by the pandemic.   “The IOCs will be putting more of their assets up for sale,” an industry source told New Telegraph,  adding, “they…

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NNPC slahses ex- depot price of petrol

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The Nigerian National Petroleum Corporation (NNPC) Wednesday announced a reduction in the ex-depot price of petrol from N113.28k per litre to N108.00K per litre across all its products loading facilities as well as in its through put operations. A release in Abuja by the corporation’s Group General Manager, Group Public Affairs Division, Dr. Kennie Obateru, quoted the Managing Director of the Petroleum Products Marketing Company (PPMC), Musa Lawan, as saying that the new ex-depot price of Premium Motor Spirit (PMS), otherwise called petrol, reflects the company’s market strategy to make…

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Oil bid round: Coalition of civil society groups seeks transparency

Ose Ojeme

    PRECISION Oversight of the processes should be provided by the National Assembly and auditing by NEITI     Following Federal Government’s intention to conduct fresh licensing bid round for Nigeria’s marginal oil fields, Civil Society Organisations (CSOs) and extractive industry media group, Media Initiative on Transparency in Extractive Industries (MITEI) have advised the Federal Government to ensure transparency in the entire process. The advice formed part of the resolution reached at the end of a one-day workshop on “Improving Transparency in the Oil licensing Process organised by the…

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