Energy Worth with Agency Report Some of the world’s biggest fund managers are ratcheting up the pressure on oil and gas companies, expressing fear that a lack of action over tackling climate change could risk their investments. The comments come days before major oil companies kick off annual shareholder meetings, where they are already facing…
Energy Worth with Agency Report Some financial experts on Friday, faulted the increase in the oil benchmark of the 2018 appropriation bill from 45 dollars to 51 dollars by the Senate. The financial experts told the News Agency of Nigeria (NAN) in Lagos that the increment was not needful, while reacting to the appropriation bill…
President of the Nigeria Atomic Energy Commission (Nigatom) and, chairman and Chief Executive Officer of the Nigeria Energy Commission, Simon Pesco Mallam in this interview with TOBI AWODIPE, talks about the need for the country to embrace nuclear energy, the advantages that can be derived and its lofty goals of achieving nuclear sovereignty by mid…
On the 12th of March, the National Electricity Regulatory Commission (NERC) announced a new policy under the Electric Power Sector Reform Act (EPSRA) of 2005. Known as the 2018 Meter Asset Providers (MAPs) policy, it was designed to deregulate the provision pre-paid meter. In essence, electricity distribution companies (Discos) have to outsource the acquisitions and…
By Energy Worth Failure by the President Muhammadu Buhari-led administration to reform the oil and gas sector has pushed the Nigerian National Petroleum Corporation (NNPC)’s revenue loss to over N546 billion. The trend does not only represent the loss of potential revenue for government but also constitutes a major challenge for the 2018 budget expectations…
By Tsvetana Paraskova WTI Crude prices have recently surged to their highest level in three and a half years—just above $70 a barrel. In theory, that’s higher than the average breakeven costs of all key U.S. shale plays. Even $60 WTI is higher than the average breakeven prices, as per the latest quarterly Dallas Fed…
Seydou Kane is Managing Director, Africa for Eaton’s Electrical Sector. He is responsible for leading Eaton’s Electrical Sector team in Africa and driving Eaton’s ambitious growth strategy for Africa. Seydou has over 15 years’ experience in management, sales and strategic marketing in four continents. He holds Master’s of Business Administration from IMD Business School, Switzerland…
By Tsvetana Paraskova Vitol, Glencore, and Shell—the three biggest oil traders in the world—are in the running to buy the Nigerian oil assets of Brazil’s state oil firm Petrobras, Reuters reported on Thursday, quoting banking and industry sources in the know. As part of its asset sale program aimed at raising billions of U.S. dollars…
By Nick Cunningham On Thursday, Brent topped $80 per barrel for the first time since November 2014, breaching a psychological threshold amid tightening inventories and widening geopolitical risk. Yet, even as oil prices have rallied to their highest point in three and a half years, investors have pared back their bullish bets on oil futures….
The Federal Government has provided more details on the N72 billion financial facility it plans to provide for the 11 electricity distribution companies (Discos) in Nigeria to upgrade and expand their networks. It said the facility would be a shareholder loan which the Discos must be willing to match or it would be converted to…
