Wintershall is continuing its growth course and has now been awarded exploration licenses in Brazil. In its 15th bidding round, Brazil’s National Agency of Petroleum, Natural Gas and Biofuels (ANP) has awarded interests in seven licenses to Germany’s largest internationally active oil and gas producer. The company will hold the operatorship for four of these…
Oil climbed as top crude-exporting countries suggest they may extend output curbs beyond this year, adding momentum to a monthly rebound. Futures in New York posted a 5.4% increase in March, erasing February losses fueled by mounting American stockpiles. Some OPEC producers and allies are considering prolonging efforts to drain a global supply glut up…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and its sister union, the National Union of Petroleum and Natural Gas Workers (NUPENG), say they have no reservations against the five percent fuel levy in the harmonised PIGB recently passed by the National Assembly. Recall that the National Assembly Conference Committee last week…
Nigeria and other countries will spend about $811 billion on 615 upcoming oil and gas fields in the next eight years, a research conducted by data and analytics firm- Global data, has revealed. The money, would be expended on capital items, especially conventional oil, heavy oil, oil sands, and unconventional oil projects, the report said….
Edo State governor, Mr Godwin Obaseki, has said the successful partnership between the state government and developers of Edo Azura Power Project has further demonstrated how much other investors can achieve if they invest in the state. Godwin Obaseki made the submission during an interview with journalists in Benin City, Edo State capital, noting, “The…
The indebtedness of the Nigerian Bulk Electricity Trading Plc (NBET) to electricity Generation Companies (Gencos), has reached N42.15 billion as at January 2018. NBET was only able to pay the GenCos ₦6.08 billion out of the ₦48.23 billion for the January invoices, which represents 12.62 per cent of the total obligation. NBET, which is charged…
Energy Worth with Agency Report Export of electricity to two neighbouring countries, Niger and Benin Republics, from Nigeria is expected to increase to 1,540 megawatts by 2025 from 387mw in 2020, according to a document obtained from the Ministry of Power, Works and Housing. The document, entitled: ‘Transmission Expansion Plan’, revealed that 780MW and 760MW…
