By Energy Worth The nation’s power generation plunged by 777.9 megawatts on Monday as output from the hydropower plants and some gas-fired stations, including Egbin in Lagos, suffered declines. A total generation capacity of 4,463.3MW was unavailable as of 6am on Monday, compared to 3,631.4MW on Friday, according to the latest data obtained by our…
By David Messler The last quarter has seen increased volatility in oil prices, an increase that I attribute to the growing tensions in international markets as fears of a global trade war intensify. The headlines seem to get starker by the day, and markets loathe this type of uncertainty. The intent of this article is…
Energy Worth with Agency Report Crude production from the Organisation of Petroleum Exporting Countries (OPEC) rose in July on the back of increased output recorded by Nigeria, Kuwait and the United Arab Emirates, the latest report obtained on Monday showed OPEC’s output averaged 32.32 million barrels per day in July, up 41,000bpd from June, the…
By Energy Worth The Federal Government on Monday, announced that power distribution companies still had the responsibility of providing meters to customers as opposed to the recent position of the Discos. It said the Meter Asset Provider Regulation, which was unveiled by the Nigerian Electricity Regulatory Commission in March this year, did not completely remove…
Energy Worth with Agency Report Iran is selling oil and gas at a discount to Asian customers as it prepares for the return of US sanctions, state news agency IRNA reported on Monday. The “informed source” in Iran’s oil ministry did not give details of the discount, but sought to downplay the move as common…
Keen observers and genuine opposition to privatisation of the power sector must be giggling with smiles at the recent turn of events. Core investors of Electricity Distribution Companies are beginning to throw in the towel after five years of privatisation characterised by ineptitude and abysmal performance. This was coming on the heels of government’s determination…
By Oke Peter An international end-to-end solar provider headquartered in Dubai, UAE, Phanes Group, has announced the 2nd edition of its Solar Incubator program, aimed at identifying PV projects of potential in sub-Saharan Africa by providing support to funding, and commercial and technical knowledge. The initiative held under the theme, “Your Project, Our Expertise, For…
By Oke Peter Nigeria’s first commercial solicitor firm specializing exclusively in non-courtroom practice, Detail Commercial Solicitors (DCS) has announced that the gathering of French and Nigerian business leaders, investors and public sector leaders, “Spotlight Nigeria Investment Forum’ will hold between 4-5 October, 2018, at the Marriott Rive Gauche Hotel and Conference Centre, Paris, France. Spotlight…
By Nick Cunningham The oil market has experienced a “cooling down” this summer as global supply disruptions have eased at a time when demand has also slowed a bit, according to a new report from the International Energy Agency (IEA). But that pause may only be temporary, with the road getting much rockier towards the…
By Nick Cunningham Canadian oil producers are once again suffering from a steep discount for their oil, causing the largest spread between Canadian oil and WTI in years. Western Canada Select (WCS) recently fell below $40 per barrel, dropping to as low as $38 per barrel on Tuesday. That put it roughly $31 per barrel…
