Power Sector: Nigeria is Not Out of the Darkness Yet

May 11, 2014

For Nigerians to begin to see the benefits of the reforms in the power sector, a significant investment of about N11.2 trillion ($70 billion) is to be made in the sector, while constant gas supply to the power plants scattered across the country should be guaranteed. This is the view of stakeholders in the power…

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Transformation Agenda, Sustainable Transportation and Alternative Fuel For Vehicles

May 11, 2014

The Nigerian economy has borne the huge burden of subsidy payments on petroleum products. Massive importation of light petroleum products (petrol, diesel, and kerosene) continues unabated because the national refineries are working sub-optimally and new ones are yet to be constructed. Recently, government announced its plan to privatize the old and mismanaged refineries, which was…

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Growth Of Indigenous Technology In The Petroleum Sector In Nigeria

May 11, 2014

Technology can have a substantial impact on an industry’s performance. Consider the effect of genetic engineering on pharmaceuticals, of transistors on telecommunications and of plastics on metals. Identification of the commercial potential of technological developments has dramatically accelerated world-wide, and the lag between ideas, invention and commercialization has decreased. In the past ten to 12…

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Maximizing The Use Of Natural Gas In Nigeria: Prospects, Constraints and Potential Solutions

May 7, 2014

Nigeria is one of the top ten nations in the world with huge natural gas reserves. Nigeria’s gas reserves was estimated at 187 trillion standard cubic feet of gas (tscf), with current production estimated at 8.24 billion standard cubic feet of gas per day (scfd) as of 2012. This is made up of 98 tscf…

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LNG Projects: Are They Still a Reality?

May 7, 2014

The rate of development of various LNG projects, namely the Olokola LNG, Brass LNG and Nigeria LNG Train 7 projects have been a particular source of concern among various experts and stakeholders in the oil and gas industry. This piece reviews the current state of these projects which appear to have stalled over the course…

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Privatisation of Refineries: The Panacea to Nigeria’s Refining Problems?

Apr 9, 2014

Nigeria has the third largest refinery capacity in Africa. The country boasts of an installed capacity of 445,000 barrels per day (bpd) only trailing behind South Africa with 540,000 bpd and Egypt with about 774,900 bpd. Unfortunately, Nigeria with its four refineries does not produce anywhere near this installed capacity, in fact the country’s refineries…

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PHCN Assets Sale: The Arduous Journey Ahead

Jan 1, 2014

In view of the physical transfer of the privatised Power Holding Company of Nigeria’s (PHCN) successor companies by the Federal Government in November, there has been cautious optimism amongst many Nigerians, analysts and stakeholders alike. Indeed, as the Chairman, Technical Committee of the National Council on Privatisation, Atedo Peterside aptly put it in his paper…

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Challenges Facing The LPG Sector In Nigeria

Dec 16, 2013

Apart from the continuous subsidising of domestic kerosene due to some political reasons which has remained a huge hindrance to the growth of Liquefied Petroleum Gas (LPG) also known as cooking gas in the country, Federal Government policies seem to have created a bottle neck situation for operators and stake holders in the sector alike.…

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Minister’s Consent and Assigning Interest In An Oil And Gas Asset

Sep 29, 2013

Acquiring an Oil and Gas asset in Nigeria is subject to a variety of rigorous rules, the main purpose of which is to prevent fraud and general malpractice. A potential investor in the oil and gas industry, intending to acquire an oil and gas asset within Nigeria would be granted an interest in either an…

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Acquisition Of Upstream Oil & Gas Assets In Nigeria: Legal Issues To Consider

Aug 25, 2013

With the gradual shift away from Nigeria’s shallow waters to deep offshore fields by the oil majors, as has been further highlighted by recent press reports of the potential divestments of assets by Shell and Chevron, it is safe to say that there will be an increase in the activities of energy lawyers who are…

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