Geregu Power, Nigeria’s first publicly listed power business, has reported N50.4 billion in revenue for the first quarter of 2024. This is over 3.5 times the N14.2 billion revenue reported during the same period last year. The company followed up on its performance with even greater bottom-line profitability growth. Its pre-tax earnings for the time […]Read More
In a new revelation by the Petroleum Technology Association of Nigeria, the country’s economy suffers a staggering $15 billion loss annually, equivalent to the national budget, due to a daily shortfall of 500,000 barrels of crude oil production. Wole Ogunsanya, Chairman of the Petroleum Technology Association of Nigeria (PETAN), revealed the startling during a recent […]Read More
The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has announced a new base price for natural gas at $2.42 per Million British Thermal Unit (MMBTU) for power sector and $2.92 for commercial users. The agency announced the new domestic base price and wholesale prices of natural gas for 2024 in a statement on Monday. […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has mandated all electricity distribution companies (DisCos) in Nigeria to procure at least 10 percent of their contracted energy offtake from embedded generation sources, half of which must be procured from renewable energy sources. This is expected to be made available by April 1, 2025. For example, Abuja Disco […]Read More
In a significant move towards sustainable energy solutions, the Federal Government has announced its intentions to establish a Compressed Natural Gas (CNG) park at the Ajaokuta Steel Company in Kogi State. The revelation came from Prince Shuaibu Audu, the Minister of Steel Development, in a statement issued by his media aide, Lizzy Okoji, on Monday […]Read More
In a bid to confront the mounting challenges posed by debt burdens and climate emergencies, the International Development Association (IDA), the World Bank’s fund dedicated to the world’s most impoverished nations, is pushing for an unprecedented surge in financial support. Dirk Reinermann, the head of resource mobilisation at the World Bank, stressed the critical importance […]Read More
Transcorp Power Plc was listed on the Nigeria Exchange on Monday, March 4, with a 10 percent gain and a closing share price of N264. This gives us a valuation of N1.98 trillion, which means it made a whopping N180 billion on its first day of trading. The company, which is listed on the exchange […]Read More
The Gas Exporting Countries Forum (GECF) has announced the signing of two crucial Memoranda of Understanding (MoUs) with the African Energy Commission (AFREC) and the Economic Research Institute for ASEAN and East Asia (ERIA). These partnerships aim to foster expertise sharing, joint research, and workshops in the energy sector to drive sustainable development and technological […]Read More
Transcorp Power, one of Nigeria’s leading energy companies, has unveiled plans to list on the Nigerian Exchange Limited (NGX), with a significant market capitalisation pegged at N1.8 trillion. In a statement obtained by EnergyPlanets, Transcorp Power announced its intention to introduce 7,500,000,000 Ordinary Shares, each valued at 50 kobo, at a price of N240.00 per […]Read More
Egypt has inked seven memoranda of understanding (MoUs) with international developers in the green hydrogen and renewable energy domains. These agreements, poised to attract investments totaling approximately $40 billion over the next decade, mark a pivotal step in Egypt’s ambitious green energy agenda. According to Planning Minister Hala al-Said, the investment landscape is set to […]Read More
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