Nigeria generated 33,448,633MWh of energy in 2019 – NBS

The power generation statistics for 2019 reflected that a total of 33,448,633 MWh of energy was generated by power stations, the National Bureau of Statistics (NBS) has said. In its latest report on power generation in the country for the year 2019, it shows that privatized GenCos generated 19,692,683 MWh, independent power producers (IPP) GenCos generated 7,798,253 MWh while the NIPP GenCos generated 5,957,697MWh. However, Egbin recorded the highest energy generation with 3,786,313MWh accounting for 11.32 per cent while Alaoji NIPP recorded the lowest with 209,453MWh accounting for 0.63 per…

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Experts Chart Way Forward For Energy Transition In Africa

Siemens

Captains of the energy industry have converged recently to chart the way forward for successful energy transition in Africa. This concern shown by the industry players came on the back of the known role being played for decades by resources in the industry in driving developmental agenda of the continent. Speaking recently at the first Energy Leader’s Dialogue Series Webinar themed “Energy Transition in a Hydrocarbon Dependent African Economy organized by The Energy Intelligence, the pundits lamented significant gaps in coordinating the energy and development sectors around mutual outcomes. Despite…

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How we’re cushioning pandemic impacts on Nigeria’s oil and gas sector – Auwalu, DPR CEO

How we’re cushioning pandemic impacts on Nigeria’s oil and gas sector – Auwalu, DPR CEO

Engr. Sarki Auwalu, director and CEO of Nigeria’s Department of Petroleum Resources (DPR), told the press about how the country is strategically implementing OPEC-mandated production cuts and the unprecedented co-operation among industry stakeholders to fight the pandemic. DPR is the regulatory body for Nigeria’s oil and gas industry.   How has DPR managed to ward off some of the negative impacts of Covid-19 on Nigeria’s oil and gas industry? The president and government authorities have rolled out a wide range of policy directions in response to the pandemic. DPR has…

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Post Pandemic: DPR charts plans for Nigeria’s oil sector survival

Nigeria’s oil sector regulator, Department of Petroleum Resources (DPR) has released strategic plan and policy for the survival and success of the industry post COVID-19. Engr. Sarki Auwalu, Director/CEO of the agency, , who made this known in a Keynote Address at the Webinar organised by Future Energy Leaders Nigeria (FEL) entitled; “Nigeria Oil & Gas Sector: Surviving and Thriving Post COVID –19,” underscored four key areas the country is deploying to stay afloat despite troubles and threats posed by the Coronavirus pandemic to the economy. “There is no better…

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FG extends deadline for marginal oilfield bids to June 21

US, import, oil drops

The Department of Petroleum Resources (DPR) Thursday extended by one week, the deadline to register to bid for Nigeria’s marginal oilfields, with June 21 being the new deadline. The DPR launched the first marginal field award round in nearly 20 years on June 1. Applicants initially had until June 14 to register, but the timeline has been moved to June 21. The DPR, the nation’s petroleum regulator, did not give a reason for the extension, a report by Reuters said. The marginal oilfields comprise 57 fields located on land, swamp…

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Indigenous oil marine vessels grow 37% in ten years

Indigenous oil marine vessels grow 37% in ten years

Nigerian-owned marine vessels for oil and gas sector operations have increased from three per cent to over 40 per cent, the federal government has revealed. The increase represent a growth of 37 per cent the last decade when total indigenous oil vessels share of the market stood as mere 3 per cent at at 2010. Timipre Sylva, Minister of State for Petroleum Resources, said this in Abuja at the third inaugural ceremony of the Governing Council of the Nigerian Content Development and Monitoring Board. Explaining some achievements of the NCDMB…

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Nigerian petroluem regulator bars debtors from bidding for marginal oil fields

Africa Oil & Gas

OIL firms indebted to the Nigerian Government will not be allowed to participate in the newly launched bid round for marginal oilfields as oil firms, the Department of Petroleum Resources, (DPR) has revealed. Sarki Auwalu, Director of the DPR, in a statement, said that the 57 oil fields which are listed for bidding were small oil fields that major oil companies considered unprofitable and auctioned to indigenous companies under a competitive bidding round. “We are so impressed by the responses so far. For so long the industry has been stagnant…

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Oil hits $40, Nigeria cuts production by 216,000bpd

Oil price sustains steady rise to near $72 per barrel

Global oil commodities gained in prices on Wednesday as Brent crude, the benchmark against which Nigeria’s crude is priced, rose to $40 per barrel for the time since March. Brent crude rose by 43 cents, or 1.1 per cent, to $40 per barrel, as of 02:52 GMT. This came as the Minister of State for Petroleum Resources, Timipre Sylva, declared that Nigeria’s compliance to the crude oil production cut that was agreed by members and non-members of the Organisation of Petroleum Exporting Countries had reached 52 per cent. In a…

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Senate to begin 3-day probe into N1.8trn power intervention funds

Nigerian Senate advances legal backing for NCC's National Emergency Number 112, ECC

Beams searchlight on Ahmad, CBN, others The senate committee on power, said on Thursday that it has perfected plans to begin a three-day investigative hearing to probe how the N1.8 trillion injected into the power privatisation exercise by the federal government between 2013 till date, was utilised. The privatisation exercise was consolidated on September 13, 2013, during the tenure of former President Goodluck Jonathan. Gabriel Suswan, the chairman of the senate panel, told journalists after the meeting of his panel that the probe was not a punitive action. Suswan said…

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