Delay in releasing list of marginal fields for auction worries prospective bidders

The air of uncertainty over when the list of marginal fields to be put on offer in the next licensing round would be released has continued to put prospective investors on edge, fuelling concerns over the transparency of the process.

Interested investors are increasingly worried that one month after the announcement of the bid round, the Department of Petroleum Resources (DPR) has yet to make public the list of the assets to be put up for sale.

It was gathered that there is a list of assets that could be offered circulating among some highly connected Nigerian oil companies. Some of the companies have already told the DPR that they are interested in some of the fields and even gone ahead to say how much they are willing to pay.

Algeria to reopen Tiguentourine gas complex

Almost one year following the terrorist attack at the Tiguentourine gas plant near In Amenas, the foreign companies that operate the site reached an agreement with Algerian authorities to resume work.

Statoil and British Petroleum (BP) workers can once again return to their workplace, which has been deserted since the terrorist attack of January 16th, 2013. Thirty-eight civilians were killed in the attack.

The two companies demanded the introduction of security measures to protect expatriates working in this sensitive border area with Libya.

Kenya ‘delays energy bill

Kenya is to delay a much-anticipated energy reform bill until the summer as the East African country looks to monetise oil discoveries.
The Petroleum E&P Bill was to be ready for parliamentary debate last November, but has been pushed back.
Energy & Petroleum principal secretary Joseph Njoroge said the ministry is speaking with oil industry players and that meetings with regional officials will take place in February, Reuters reported.
“So by the end of this (fiscal) year – that is by June – we expect to have put everything in place,” the news wire quoted him as saying.

Ghana’s Petroleum Revenue Act to be amended in 2014

The Petroleum Revenue Management Act (PRMA), Act 815, is to be amended early this year to rectify some inconsistencies that exist in the current law, two-and-half years after it was enacted (in 2011).
Some of the inconsistencies identified in the law include the calculation of the Petroleum Benchmark Revenue and allocations to the Ghana Petroleum Funds (the Ghana Stabilisation Fund and the Ghana Heritage Fund) (GHF) and Annual Budget Funding Amount; membership of the Public Interest and Accountability Committee (PIAC) and the qualifying instruments which Ghana Petroleum Funds (GPF) should be invested in.

No More Blackouts in Africa with Power SH Boxes - Coming to Africa

 

NRGLab (http://nrglab.asia/), the premiere green-energy company in Singapore, holds an affordable solution to power outages and blackouts.

The company has developed and perfected poly-crystal technology for producing electricity from environmental heat. This scalable power solution uses self-contained generators known as SH Boxes, which produce electricity for as little as 3 cents per kW. NRGLab systems produce environmentally-friends energy; no harmful emissions or pollutants of any kind are released from the company’s generators, which operate more than a decade on a single installation.   

Drop your comment, tell us what you think about this technology.

CUSTOMERS CAN NOW PAY CASH INTO THEIR ACCOUNTS AT ANY BANK - Comment

A big relief to Nigerian bank customers: you no longer need to reach your bank to deposit cash. You can now pay into any bank and the money will be credited into your account, just like you withdraw cash from any bank’s ATM.

The new deal has been made possible by BeyondBranches, owner of the payment platform QuickTeller, a value added service platform developed by Interswitch, the largest integrated payment processing service provider in Nigeria.