In a bid to tap into the burgeoning $14 trillion investment opportunity in the global oil market by 2035, the Organization of the Petroleum Exporting Countries (OPEC) has advised the Nigerian National Petroleum Company Limited (NNPCL) to ramp up oil production. This counsel was shared by OPEC’s Secretary General, Haitham Al-Ghais, during his recent visit […]Read More
Amidst concerns over Nigeria’s electricity supply, Minister of Power, Adebayo Adelabu, has hailed Azura Power West Africa as a role model for power plants in the country. During a visit to the Azura power plant in Benin City, Adelabu commended its operational efficiency and highlighted its potential to address Nigeria’s power challenges. Azura power plant […]Read More
Kaduna Electric has announced its intention to comply with the directive from the Nigerian Electricity Regulatory Commission (NERC), requiring the refund of overbilled customers. This decision comes following NERC’s enforcement action against distribution companies, including Kaduna Electric, for failing to adhere to the commission’s Capping Order aimed at preventing excessive billing for unmetered customers. According […]Read More
Global demand for liquefied natural gas (LNG) is forecasted to skyrocket by 50 percent by 2040, primarily propelled by burgeoning consumption in Asia, according to insights unveiled by Shell on Wednesday. Last year witnessed a slight uptick in global LNG trade, reaching 404 million tons compared to 397 million tons in 2022, as revealed in […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has issued two licences to the Alaro Connect Free Zone Enterprise at Alaro City in Epe, Lagos State, to generate and distribute electricity within the free zone. According to NERC, the first license is designated for Embedded Electricity Generation, enabling the enterprise to generate up to 10 megawatts of […]Read More
SABIC, the Middle East’s biggest petrochemical producer, announced the final investment decision for its $6.4 billion petrochemicals complex in Fujian, China. The FID will allow SABIC to move ahead with its 49 percent stake partner Fujian Fuhua Gulei Petrochemical to build the project with a mixed feed steam cracker with a production capacity of up […]Read More
Eskom, South Africa’s main power supplier, recently announced the expiration of budget quotes for integrating four projects into the grid under the Risk Mitigation Independent Power Producer Procurement Programme (RMIPPPP). Initiated in 2020 to tackle the country’s energy issues, RMIPPPP sought to secure 2,000MW from diverse dispatchable technologies, such as gas, solar PV, wind, battery […]Read More
IDCOL and the Ethiopian Ministry of Water & Energy joined forces on December 22, 2023, in Addis Ababa, sealing a significant deal for Advisory Services to drive the implementation of the Solar Home System program. Sultan Welle Ahmed, the state minister for Energy Development in Ethiopia, and Shibli Mohammad Faiz, VP & unit head of […]Read More
Oil prices increased following Iran’s seizure of a tanker off the coast of Oman. The oil tanker, en route to Turkey, was redirected to an Iranian port by armed men. The price of Brent crude oil rose over 2 percent, reaching $78.40 per barrel after the incident. The UK government has modeled scenarios projecting potential […]Read More
In the final quarter of 2023, European power producers achieved a significant milestone by generating more electricity from wind sources than from coal for the first time. According to data from the think tank Ember, Europe’s utilities produced a record-breaking 193 terawatt hours (TWh) from wind sites, surpassing the 184 TWh generated from coal-fired power […]Read More
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