There are strong indications that the N701 billion payment assurance facility secured by the Nigerian Bulk Electricity Trading Plc (NBET) for power generation companies (Gencos) in Nigeria may not last up to the 24 months disbursement timeline it was originally planned for. This is because of the poor financial remittances of the 11 electricity distribution…
The Nigerian National Petroleum Corporation (NNPC) has concluded arrangement for the historic groundbreaking of the 40inch x 614km Ajaokuta – Kaduna – Kano (AKK), gas pipeline and stations in the weeks ahead. The corporation said following last week’s successful execution of contract agreements for the engineering, procurement, construction, commissioning and financing for Lots 1 and…
Energy Worth with Agency Report The Programme Manager, National Gas Flare Commercialisation Programme (NGFCP), Federal Ministry of Petroleum Resources, Justice Derefaka, has disclosed that Nigeria loses approximately $10 billion of revenue through gas flaring, due to its inability to capture and commercialise flared gas in the country. He further stated that if flared gas is…
Any increase in the price of Premium Motor Spirt as a result of the five per cent levy on the product as stipulated in the Petroleum Industry Governance Bill that was recently passed by the National Assembly will not be welcomed by Nigerians, oil marketers have said. The Punch newspaper has reported. According to the…
Energy Worth with Agency Reports The Kaduna State governor, Mallam Nasiru El-Rufai, on Wednesday, inaugurated Blue Camel Renewable Solar Power Assembly Plant and Renewable Energy Training Academy in Kaduna. The governor said at the launch in Kaduna that the plant was important to the Kaduna State Government “because we believe that renewable energy and solar…
Organization of Petroleum Exporting Countries (OPEC) crude oil production fell in March to the lowest since April 2017 as a result of declining Angolan exports, Libyan outages and a further slide in Venezuelan output, thus increasing compliance with a supply-cutting deal by the oil producers to another record. OPEC pumped 32.19 million barrels per day…
A company, Onose Tbea Energy Limited registered in Nigeria and determined to stop poor power supply in the country is set to build a 400MW Combined Power Plant at Ekrokpe and Ekrejegbe communities in Ughelli South Local Government Area of Delta State. In a statement made available to newsmen by the Managing Director of the…
By Energy Worth There are strong indications that debts are piling up in the Nigerian Electricity Supply Industry (NESI) as only four of the country’s 11 distribution companies, Discos, paid for supplies of power they received for transmission to their customers from the generation companies, GENCOs in January 2018. Information available to this website indicated…
The West African Power Pool (WAPP), on Wednesday, announced plans to begin construction of Nigerian component of the North core transmission line that will connect Nigeria, Benin Republic, Niger and Burkina Faso. The Chairman of WAPP, Mr Mohamnmed Gur-Usman, said this in Abuja, while responding to questions on the sidelines of a meeting organised to…
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…
