United States oil prices rose above $70 a barrel on Monday for the first time since November 2014 and Brent crude climbed to fresh highs, buoyed as a deepening economic crisis in Venezuela threatened the country’s already tumbling oil supply. According to the News Agency of Nigeria (NAN), Brent crude oil futures were at $75.59…
By Energy Worth Power supply worsened over the past week as generation fell by over 1,000 megawatts amid violent rainstorms sweeping through the country. Power generation stood at 3,192.20MW as of 6am on Sunday, according to data from the Nigeria Electricity System Operator (NESO). From 4,339.10MW as of 6am on Monday, April 30, the total…
Between January 1 and May 5 this year, the power sector lost about N154bn as a result of the unavailability of gas, distribution and transmission infrastructure, as well as water reserve challenges, the Federal Government has said. A document on Nigeria’s power sector performance put together by the Advisory Power Team at the Office of…
By Oke Peter The Senate, on Thursday, urged the Niger Delta Power Holding Company (NDPHC) to reinstate Mrs Maryam Mohammed and pay her entitlements since June 2016, when she was ‘wrongfully’ sacked. The resolution came after adoption of recommendations of the Senate Committee on Ethics, Privileges and Public Petition. The matter was referred to the…
A leading downstream oil and gas company, OVH Energy, has announced the commencement of its creative writing competition in commemoration of the World Creativity and Innovation week which took place from April 15-21, 2018. This competition is the 2nd edition of the company’s Prodigy series titled “So You Think You Can Write”. The Prodigy Series…
By Oke Peter The Nigerian Electricity Regulatory Commission (NERC), on Thursday stated that it would take another look at tariff computation in order to address the various concerns surrounding the issue. According to NERC’s newly inaugurated Chairman, Professor James Momoh, all necessary calculations on electricity tariff will be done by the commission to get the…
By Energy Worth A drop in the quantum of electricity taken by power distribution companies in Lagos and the harsh weather condition on Thursday led to the explosion of a power transformer and the resultant fire incident at the Alagbon substation. According to the Transmission Company of Nigeria (TCN), although the fire has been put…
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has announced a three-point smart strategy aimed at ending gas flaring in the nation’s Oil and Gas Industry. Dr. Baru made the announcement while delivering the lead paper on a panel session at the ongoing 50th Offshore Technology Conference (OTC), in…
By Energy Worth A non governmental organization (NGO) that propagate actions against energy poverty and climate change, Renewable Energy and Environmental Sustainability (REES) Africa, has announced that it will stage a walk against climate change on Saturday, May 5, 2018 by 7:30 am. The takeoff point is the Secretariat Bus Stop, Alausa, Ikeja Lagos State….
By Energy Worth The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has disclosed that the country is expecting over $25bn worth of investments in the gas sector. He announced this on Wednesday in different panel sessions at the ongoing 50th Offshore Technology Conference in Houston, United States, according to…
