The shutdown of Shell’s 147,000 barrels per day Wesseling refinery, coupled with a power unit failure at the Miro refinery, has intensified demand for oil product barges on the Rhine this week. However, low water levels have significantly increased freight rates. Heating oil prices in the Cologne region have been on the rise since mid-March, […]Read More
Nigeria, Africa’s most populous nation, became the continent’s fifth-largest solar installer in 2024, boasting a total installed capacity of 73 megawatts (MW), according to a recent industry report. This growth is attributed to the removal of petrol subsidies, which has accelerated solar adoption in a country where residential and off-grid systems are predominant. The Nigerian […]Read More
Dangote Refinery has temporarily halted the sales of refined petroleum products in Naira on the back of a mismatch between sales proceeds and crude oil purchase obligations, which are currently denominated in U.S. dollars, the management said in a release today. The statement read: “To date, our sales of petroleum products in Naira have exceeded […]Read More
The Nigerian Electricity Regulatory Commission (NERC), has announced the transfer of regulatory oversight of the electricity market in Plateau State from the Commission to the Plateau State Electricity Regulatory Commission (PSERC). NERC Remarks The Commission said it’s in compliance with the amended Constitution of the Federal Republic of Nigeria (CFRN) and the Electricity Act 2023 (Amended). […]Read More
The Nigeria Sovereign Investment Authority (NSIA), Sustainable Energy for All (SEforALL), the International Solar Alliance (ISA), and Africa50 have launched a $500 million fund to develop and finance distributed renewable energy (DRE) projects in Nigeria. The partners revealed in a statement seen by EnergyPlanets that the NSIA, SEforALL and Africa50 signed the Fund’s Heads of […]Read More
Renaissance Africa Energy has completed the “acquisition of the entire (100%)” equity holding in Shell Petroleum Development Company of Nigeria (SPDC). This is according to a statement on Thursday by the spokesman of Renaissance Africa Energy Holdings Tony Okonedo who said the acquisition was completed on the same day. Renaissance Purchase agreement with SPDC “This […]Read More
… Achieves 11 million Hours Without Lost Time Injury Seplat Energy PLC, leading Nigerian independent energy Company listed on both the Nigerian Exchange and the London Stock Exchange, has announced its audited results for the twelve months ended 31 December 2024, with a strong operational and strategic progress in 2024 culminating with the transformational acquisition […]Read More
The China National Offshore Oil Company (CNOOC), a state-controlled entity, is preparing to inaugurate a refinery and petrochemical complex later this year after a significant $2.74-billion upgrade, as reported by Reuters on Tuesday, citing industry insiders. The revamped joint venture complex, located on Daxie Island in Ningbo, will include a new 120,000-barrels-per-day (bpd) crude unit. […]Read More
The Independent Petroleum Producers Group (IPPG) has lauded President Bola Tinubu for his bold policy reforms and visionary leadership in revitalising Nigeria’s energy sector. HIGHLIGHT At the 8th Nigeria International Energy Summit (NIES 2025) opening ceremony, Abdulrazaq Isa, IPPG Chairman, highlighted the administration’s role in driving industry advancements, restoring investor confidence, and positioning Nigeria as […]Read More
The Nigerian Federal Government (FG) has disclosed that it owes electricity generation companies (GenCos) and distribution companies (DisCos) over N4 trillion in debt. Adebayo Adelabu, the Minister of Power, made this revelation during the recent public presentation of the National Integrated Electricity Policy (NIEP) and Nigeria Integrated Resource Plan (NIRP) in Abuja. Adelabu explained that […]Read More
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