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Politics threatens to disrupt ambitious power sector plans yet again in Nigeria

The government is anxious for international oil companies to submit their proposals for projects to promote domestic gas use – going as far as to stop exports from Nigeria LNG Ltd’s new Train 6 to hammer home the point that IOCs must sell part of their output closer to home.

Despite its corruption, violence and lack of political cohesion, Nigeria remains one of the best credit risks that are offered to insurers, according to a senior political risk insurance (PRI) underwriter in the Lloyd’s of London market. “It’s a good market, which has never thrown out any credit risk losses,” he said. However, capacity for Nigeria among

FLEX LNG: Contract with Samsung; SONANGOL: São Tomé distribution takeover; SONATRACH: Orders for two new LNG tankers

AFREN: Another Nigerian indigenous partnership; HERITAGE: Ends sale talks; ROC OIL: New chief executive mulls future; SAIPEM: Drilling contracts

Nigeria’s future upstream oil and gas projects are being put at risk by a surge in rebel attacks in the troubled Niger Delta and confusion surrounding the government’s energy policy.

AES Corporation has created a holding company for its operations in Cameroon and Nigeria. The US developer said AES Africa Power Company (AES Apco) “will be addressing market opportunities through this vehicle and intends to seek partners in the venture”.

Suntera Resources Ltd – a joint venture between Russian natural gas company Itera Group and India’s Russia-focused Sun Group – is pulling out of Equatorial Guniea, but plans greater involvement in Nigeria.

Galp buys Shell’s fuel business; More gas sought from Rompco; Sasol to cut stake in Escravos GTL

Diesel then grid options for Mayoko iron ore scheme; MHI/Toyota Tsusho win Abu Qir order; WDEPC Transformer supply tender; Lebanon to import 450MW as gas supplies fall short; Chinese to build hydro plant; ONE reports big upside from GMT+1; Refinery scheme to include 500MW unit; Minister lines up to set out sector policy

Officials at the US Ex-Im Bank are in talks with Nigerian power developers, writes Kevin Godier. The Export-Import Bank of the United States reports seeing a rise in interest in electricity schemes since sponsoring a three-day Nigerian Independent Power Project (IPP) Financial Seminar in Abuja in April in conjunction

The final report drawn up by Rilwanu Lukman’s Oil and Gas Reform Implementation Committee (OGIC) – discussed in Upstream oil and gas, above – calls for reform of the ailing refining sector, which has been crippled by mismanagement and left the country a major importer of fuel. Lukman has been the driving force behind the government’s plan to reduce state subsidies on fuel prices from January.

LIBYA: Agoco finds oil; MOROCCO: Dana rig for Bouanane drilling; MOZAMBIQUE: Rovuma farm-out; NIGERIA: Chevron launches biggest deep-water field; NIGERIA: CNOOC quits block; TUNISIA: Petrofac starts Chergui production; TUNISIA: PA Resources farm-in

While PHCN struggles to maintain even the low average levels of generation achieved in recent years, state governments and other Nigerians are looking at ways of increasing electricity output using private financing and other means to launch projects.

The Nigerian cabinet has approved plans drawn up by presidential advisor Rilwanu Lukman that call for wide-ranging changes to the structure of joint ventures to tackle long-standing financing problems.