The Nigerian National Petroleum Corporation (NNPC) sustained its winning streak at exhibitions with a clean sweep of awards at the just concluded 29th Enugu International Trade fair. Apart from clinching the award for the overall best exhibitor and participant at the Fair, the corporation also received accolades for being the most reputation-conscious participating organization as…
Crude oil production has risen steadily in the past one year and has stabilized around two million barrels per day which has in turn led to Nigeria’s exit from economic recession. According to the Downstream View, the rise in oil production could be directly attributed to reduced restiveness in the oil rich Niger Delta as…
Some Organisation of the Petroleum Exporting Countries (OPEC) producers and other countries participating in global output cuts have suggested extending the curbs beyond 2018 and up to the middle of next year, according to Iraq’s Oil Minister Jabbar al-Luaibi. Some producers suggested extending the cuts for three months and others for six months after their…
There could be hope at the end of the tunnel over resuscitation of the Ajaokuta steel company as the House of Representatives on Wednesday adopted two bills seeking to prevent its concessioning and to ensure its completion. The bills, each sponsored by 301 lawmakers, were introduced for first reading on Wednesday, March 21. The bills…
Total has announced its first gas from the Timimoun field in South Western Algeria. The production complex with a capacity of around 5 million cubic meters of natural gas per day at plateau (around 30,000 barrels of oil equivalent per day (boe/d)), is jointly operated by Sonatrach (51%), Total (37.75%) and Cepsa (11.25%). “The launch…
An international oil giant, ExxonMobil, has said that it has increased its holdings in Brazil’s pre-salt basins after winning eight additional exploration blocks during Brazil’s 15th bid round. The blocks awarded add about 640,000 net acres to the ExxonMobil portfolio. Six of the eight newly awarded blocks will be operated by ExxonMobil. The additional blocks…
The Shell Petroleum Development Company of Nigeria Limited (SPDC), has denied allegations of environmental mismanagement in the Niger Delta levelled against it at the weekend by Amnesty International, reiterating its commitment to swift response to oil spill incidents as much as access and security conditions permit teams to mobilise and deploy to spill sites to…
The World Bank has ranked Nigeria as the second largest country in the world after India and the first in Sub-Saharan Africa with more of her population without electricity. This is as a result of Nigeria’s inability to provide electricity to about 80 million of its people, according to the Bank, in a draft report…
The Meter Asset Provider (MAP) regulation is aimed at closing the metering gap and its attendant challenges in the Nigerian Electricity Supply Industry (NESI), the Nigerian Electricity Regulatory Commission (NERC) has said. In a renewed bid to ensure that electricity customers only pay for what they actually consume, NERC has approved a regulation that provides…
By Energy Worth The House of Representatives, on Thursday, commenced and investigative hearing into alleged unremitted N2 billion and $3.8 million proceeds from the sale of assets of Power Holding Company of Nigeria (PHCN). The chairman of the Ad-hoc Committee, Honourable Dennis Amadi, assured Nigerians of the Committee’s resolve to work assiduously in the bid…
