By Tsvetana Paraskova Saudi Aramco’s much-hyped initial public offering is “most likely” to take place in 2019, Saudi Energy Minister Khalid Al-Falih said on Friday, likely confirming that plans for the IPO have been pushed from this year to next. “We’re simply waiting for a market readiness for the IPO,” al-Falih said at the St….
By Nick Cunningham Oil prices plunged on Friday after news broke that OPEC and its partners, including Russia, are considering allowing higher levels of oil production, which could mark the beginning of the end for the OPEC deal. With inventories back at average levels, potential outages in Iran and oil production in Venezuela falling fast,…
By Energy Worth Residents of the Ilaje Local Government Area of Ondo State have decried the lack of power supply in many communities in the area. The residents, who spoke during a South-South zonal interactive session organised by the House of Representatives ad-hoc committee on power in Benin, the Edo State capital, lamented they had…
A deluge of investments are pouring into Nigeria’s off-grid electricity initiative which is targeting key economic clusters across the country. The initiative is conceptualised to free the national grid system that has proved unreliable even after unbundling the monopolistic National Electric Power Authority (NEPA) and eventual partial privatisation of the power sector in 2013. The…
By Energy Worth Nigerian National Petroleum Corporation (NNPC) has assured the Nigerian Ports Authority (NPA) of its readiness to pay up all the outstanding debt owed to the authority from 2017 to date. According to a statement from the NPA, the total debt estimated at about N2.1 billion for services rendered by the NPA to…
Nigerian National Petroleum Corporation’s (NNPC) downstream subsidiary, NNPC Retail Limited, has been directed to target 30 percent market share of petroleum products distribution business in Nigeria’s downstream petroleum sector by 2020. NNPC group managing director, Maikanti Baru, handed down the directive Wednesday, in Abuja, during the unveiling ceremony of brand new logos for four of…
By Energy Worth Schneider Electric, global specialist in energy management, software and automation, has unveiled a new range of cable management systems customised for new and modern buildings. The engineering design of the product, which was unveiled during a grand Retail Partners event in Lagos recently, enhances architectural finishing of structures and buildings while facilitating…
Energy Worth with Agency Report A Court in London will deliver judgment on Friday, in a case filed by lawyers for the Bodo community in Nigeria’s oil-producing Niger Delta. The lawyers, went to court in London to fend off what they said was an attempt by Shell to kill off their litigation. The community was…
By Oke Peter The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said timely approval of field development plan is a win-win situation for both the government and investors. Kachikwu, in his presentation at a technical symposium organised by the Society of Petroleum Engineers, Nigeria in Lagos, described the FDP as one of…
By Alan Mammoser On a recent warm evening in the Dubai desert, government ministers and business leaders gathered to mark a major milestone in solar power, one of worldwide significance. A new phase of the Mohammed bin Rashid Al Maktoum Solar Park (aka MBR Solar Park) was opened. The assembled crowd was joined by the…
