The Nigerian National Petroleum Corporation (NNPC) is inching closer to arriving at the choice of financiers for the Port Harcourt Refining Company Limited (PHRC), Warri Refining and Petrochemical Company Limited (WRPC) and the Kaduna Refining and Petrochemical Company Limited.The development holds the promise to boosting petroleum products supply and distribution in the CountryNNPC Group Managing…
Libya’s state energy producer National Oil Corp. announced the restart of production at Wintershall’s Sara oil fields more than two months after they were closed by protests, in the latest sign that the OPEC nation’s oil industry may be stabilizing.The fields will increase the North African country’s crude output by 57,000 bpd, according to an…
By Energy Worth There are indications that Nigeria’s oil and gas industry is set to record another milestone as the $3.3 billion Floating Production Storage Offloading (FPSO) vessel for the 200,000 barrels per day capacity Egina deepwater oilfield will arrive Nigeria from South Korea on Tuesday (today). The FPSO, which was built by Samsung Heavy…
Nigerian National Petroleum Corporation (NNPC) has announced its readiness to build more depots across the Country.NNPC Group Managing Director, Dr. Maikanti Baru who disclosed this Monday in Abuja while inaugurating the board of one of its downstream Companies, NNPC Retail limited, said the addition to the corporation’s existing 23 depots nationwide would ease products supply…
ExxonMobil has been named 2017 Explorer of the Year by the World Oil and Gas Council in recognition of excellence and innovation in the global energy industry.“This award is recognition of ExxonMobil’s successful efforts to strengthen our portfolio by accessing and discovering the highest quality resources,” said Steve Greenlee, president of ExxonMobil Exploration Company. “This recognition would not…
OPEC and Russia reaffirmed that they’ll persevere with oil-production cuts until the end of the year to clear a global glut and signaled their readiness to cooperate beyond that. Russia is prepared to continue cooperating with OPEC and its de-facto leader Saudi Arabia even after the cuts expire, Energy Minister Alexander Novak said in a…
Nigeria has been ranked as the second worst nation in power supply, and the worst in Africa, as power drops to 3,851 megawatts (MW), according to the Spectator Index of the world’s worst electricity supply in 2017.In the report released on the Spectator Index Twitter handle yesterday, of the 137 countries examined in the report,…
By Energy Worth The Nigeria Bulk Electricity Trading Plc (NBET) has disbursed a total of N152.974 billion to 23 power generation companies (Gencos) within the first seven months of 2017, Energy Worth can report. This disbursement represented 21.6 per cent of the N701 billion payment support facility provided by the Central Bank of Nigeria (CBN)…
*Members of PENGASSAN presenting an award plague to Dr Maikanti Baru, during the event. The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has conferred a distinguished award on the Group Managing Director of the of the Nigerian National Petroleum Corporation, Dr. Maikanti Baru, for promoting industrial harmony since assumption of office.The award,…
Determined to keep pace with anticipated increase in power generation in the country, the management of Transmission Company of Nigeria (TCN), announced plans to commission 1,400MW capacity transformers by the end of January, 2018, across the different geo-political zones of the country.The Interim Managing Director and Chief Executive Officer, Mr. Usman Gur Mohammed, made this…
