By Energy Worth The Nigerian National Petroleum Corporation (NNPC), has said it is planning to build new power plants from its infrastructural development projects. Group Managing Director of the NNPC Maikanti Baru, said this in a statement in Abuja, on Thursday. According to Baru, some of the new projects like the 614 kilometer Ajaokuta-Kaduna-Kano, AKK,…
Following the tragic tanker explosion on Otedola Bridge inward Ojodu Berger along Lagos-Ibadan Expressway which claimed lives and property, the Lagos State Government on Sunday restricted movement of Fuel Tankers to designated trailer route going forward. The government also said it was now mandatory for all articulated trucks coming into Lagos to obtain the Ministry…
A House of Representatives ad hoc panel, on Friday said the Nigeria Electricity Regulatory Commission (NERC) and electricity distribution companies (Discos) are conniving to shortchange and extort money from Nigerians through excessive billing. The ad hoc panel, investigating the need to curb excessive electricity charges being levied on consumers by disCos, said majority of the…
By Energy Worth One year after signing the tripartite term sheet for the financing and technical services arrangement between NNPC/FIRST E&P JV and Schlumberger for the Anyalu and Madu fields under Oil Mining Licence, OML 83 and OML 85, offshore Nigeria, a final nod was given to the package over the weekend in London with…
By Tsvetana Paraskova According to Bank of America Merrill Lynch, oil prices will hit $90 a barrel by the second quarter of 2019, as Iranian oil barrels are removed from the market and other supply disruption risks threaten the tightening oil market. The United States signaled this week that it would look to take as…
By Energy Worth The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has said that the speculations that oil has been found in commercial quantity in the Bida Basin should be discountenanced, stressing that the search for oil in the basin is still ongoing. Dr. Baru made this submission while…
