Houston-based ERHC has declared intention to enter its concession to drill five oil wells in the Nigeria-Sao Tome and Principe Joint Development Zone (JDZ) over the coming months after a lengthy delay caused by a shortage of deepwater rigs.
President Umaru Musa Yar'Adua said yesterday that there was no going back on the planned deregulation of the downstream sector of the petroleum industry.
With seven weeks left in the Federal Government's promised 6,000megawatts power generation target by year's end, the country currently generates 2,900mw of power even though all the $5.09 billion [about N762.93 billion] special intervention funds for the sector this year have been spent. This much became clear yesterday from the speech by Minister of Power Mr. Remi Babalola at his Ministerial ...
Looking out of the window when flying over large parts of Africa at night, one sees large swathes of darkness. In contrast, flying over Asia, you see large areas of darkness are interspersed with interesting patches of light below, which are more noticeable in Europe and North America.
A high-powered delegation from South Africa is today expected in Zimbabwe to meet Youth Development, Indigenisation and Empowerment Minister Saviour Kasukuwere over proposals to dispose of BP and Shell's assets in the country.
"If we hadn't discovered oil, we would have been better off today. Once we had oil, our agriculture sector collapsed. Oil has made us lazy .We have become corrupted" - Former Minister of State for Finance in Nigeria, Mrs. Nedadi Usman (Credit - Jonathan Power: The perils of African oil, 2004)
"The GSMA's Green Power for Mobile (GPM) programme estimates there are 485 million mobile users without access to the electricity grid, a factor which severely limits usage opportunities. The report identifies a range of charging choices available that, if implemented effectively, will extend service availability and could boost average revenues per user by 10-14%." - Balancing Act Africa News ...
It has become so predictable, this thing we call 'power rationing'. We in Tanzania had it in 2006, 2007 and 2008. It is here in 2009. If the yearly trend continues then we shall surely experience it in 2010.
Getting energy to every home and satisfying industrial needs remain capital to the New Deal regime.
Since the advent of oil boom in Nigeria, governments have been lax in collecting taxes from citizens, corporate bodies and organisations to fund their programmes.
After months of disengagement from Brass LNG Limited, American oil giant and major player in Nigeria's oil and gas sector, Chevron Nigeria Limited, Friday re-joined the project as a gas supplier of Nigeria's second LNG firm, in what industry watchers say is a huge boost to the federal government's post-amnesty programme in the Niger Delta.
The verdict passed on the management of the Nigerian National Petroleum Corporation (NNPC) and its subsidiary, the Petroleum and Pipelines Marketing Company (PPMC) by the House of Representatives at the its inquest into the allegation of sharp practices in the award and execution of fuel import contracts has been described as a charade by the Trade Union Congress[TUC]
Angola's contention for the position of Africa's leading petroleum resource producer gained more points weekend when the country's reserves capacity received a boost with a deepwater hit.
Former Ghanaian President, John Kuffour, said yesterday that his country was learning fast from Nigeria's experience to ensure that oil did not become a curse to Ghana.
PRESIDENT Umaru Yar'Adua has said that the deregulation of the downstream sub-sector of the petroleum industry is inevitable, but that government is still holding consultations with stakeholders on the necessity of the action.
