By Oke Peter Power generation in the country plunged to 2,390.20 megawatts on Monday, as the number of idle power plants rose from seven to 15, according to the latest data from the Federal Ministry of Power, Works and Housing. Total electricity generation has been hovering below 4,000MW in recent months and stood at 3,741.30MW…
Esther Abiola with Agency Report Dangote Oil Refinery Company (DORC) says the 650,000 barrels per day refinery has been designed to process a variety of light and medium grades of crude and produce extremely clean fuels that meet Euro V specification. Nigeria has remained a home for dirty fuels (with sulphur), which results in vehicle…
The narration of estimated billings and unreliable power supply in Nigeria has for years been a source of concern for electricity consumers. Estimated billings are bills that do not reflect the correct status of energy consumed. Such bills far exceeding what a customer could have consumed within the billing period. Hence, consumers are often reluctant…
By Irina Slav Crude oil prices have gone up high enough to begin hurting demand for the commodity, the chief of the International Energy Agency, Fatih Birol, said as quoted by Reuters on the sidelines of an industry event in Singapore. Birol noted the adverse effect of higher oil prices on large emerging economies in…
By Oke Peter Power experts, stakeholders will share success stories, case studies as well as practical solutions that will have immediate impact on the performance of utilities and large power users, renewables, mini grids and Gas-to-Power in Nigeria, at the upcoming 15th edition of Future Energy Nigeria. The event will hold between November 13 and…
By Oke Peter The Nigerian National Petroleum Corporation (NNPC), its subsidiary, Nigerian Petroleum Development Company (NPDC), and companies in the oil and gas sector are yet to remit $22.06 billion and N481.75 billion into the Federation Account, the Nigeria Extractive Industries Transparency Initiative (NEITI) declared on Monday. NEITI made the disclosure at a remediation conference…
The United Kingdom’s Serious Fraud Office, on Monday, said two former top executives of a collapsed oil company, Afren Plc, were sentenced to up to six years in prison after they were found guilty of fraud and money laundering offences over a $300m business deals in Nigeria. Afren, an oil and gas exploration and production…
The Nigerian Navy said its men have begun an investigation and search and rescue operation for the 11 crew of MV Pomerania Sky, a container ship. The men were kidnapped in the attack by pirates, operating off-Lagos. A Navy spokesman said an update would be provided soon. Pirates boarded the container ship off the coast…
By Irina Slav Iraq should be exempted from United States sanctions against Iran because of the heavy reliance of the former on the latter for gas and electricity supplies, a senior Iraqi official told a Kuwaiti newspaper, as quoted by news agency Mehr. “Iraq is connected to Iran given the longest common borders, high trade…
Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) is to pay about $8 billion in arbitration claims to some of its Production Sharing Contractors (PSC). Group General Manager, Corporate Planning and Strategy (CP& S) of the Corporation, Mr. Bala Wunti, disclosed this in the 2018 quarter two publication of the NNPC. PSC was…
