ExxonMobil plans to more than double earnings potential by 2025 while addressing the risks of climate change through continued research into breakthrough lower-carbon technologies, Chairman and Chief Executive Officer Darren Woods told shareholders during the company’s annual meeting today. Meeting the world’s growing energy needs will require trillions of dollars in new investment across industry,…
Energy Worth with Agency Report The Transmission Company of Nigeria (TCN) will seek the help of Kaduna State government to remove structures under high tension lines to avert electrocution. The Managing Director of TCN, Mr Usman Gur, gave the hint in an interview with News Agency of Nigeria (NAN) in Kaduna on Monday, and advised…
Nigeria and 18 other African countries will get $200 million in funding from the World Bank as part of the Regional Off Grid Electrification Project (ROGEP) which aims to provide beneficiaries support to foster a sustainable and scalable off-grid electrification market to meet the electrification needs of populations in remote areas. Implemented by Cedeao’s Ecreae…
By Julianne Geiger With Brent Crude falling from its $80 height of last week, the American Petroleum Institute (API) reported a build of 1.001 million barrels of United States crude oil inventories for the week ending May 25, compared to analyst expectations that this week would see a build in crude oil inventories of 2.214…
By Irina Slav A natural harbor to the northwest of Cape Town keeps a secret that oil tracking professionals are still trying to uncover. The secret is exactly how much oil is in storage at any given moment at the Saldanha Bay array of tanks that can hold up to 45 million barrels. The reason…
Determined to achieve the clean-up of Ogoniland, the Hydrocarbon Pollution Remediation Project, in collaboration with the Niger Delta Development Commission, has trained 35 technical assistants. The technical assistants, according to HYPREP, will monitor the clean-up of polluted sites in Ogoniland. HYPREP’s Head of Communications, Mr. Isa Wasa, said in Goi, Gokana Local Government Area of…
Energy Worth with Agency Report THE electricity sector has recorded losses amounting to N187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints. Minister of Power, Works and Housing, Mr Babatunde Fashola The losses recorded between December, 2017 and May, 2018 has affected the generation, transmission and…
By Energy Worth The international oil benchmark, Brent crude, on Tuesday continued its biggest losing streak since February, falling below $75 per barrel. The downturn in oil prices came on the heels of worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish…
By Energy Worth The practice of blame games between key operators in Nigeria’s power sector have continued unabated with the Transmission Company of Nigeria (TCN) stating on Tuesday, in Abuja that most power generation companies (Gencos) in the sector lie about the capacities of their plants so they can make financial claims on capacity charges….
THE restoration of electricity in the early hours of Monday threw a man suspected to be in his late 30s off a high tension pole in his failed attempt to commit suicide. The unidentified man had climbed the high tension pole close to Jevinik Restaurant in New GRA, Port Harcourt at about 11pm on Sunday,…
