Year: 2018
NNPC imports $5.8bn Worth of Petrol to reduce fuel queue
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has disclosed that it has imported 9.8 million metric tons of Premium Motor Spirit (PMS) worth $5.8 billion to combat the fuel crisis that resurfaced since late last year. This was disclosed by the Group Managing Director of the corporation, Dr. Maikanti Baru, during a…
Uncertainties over FG’s 20-year power transmission plan
By Energy Worth with Agency Report THE recent announcement by the Federal Government of a 20-year electricity transmission development plan looks real but may be affected like every other ambitious long-term plan the government has ventured into. A document presented to the Minister of Power, Works and Housing, Mr Babatunde Fashola by the Interim…
NNPC advocates stronger ties among African countries in oil sector
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has called for closer collaboration among African nations not only in oil and gas but across all sectors to leapfrog the economies in the continent. Group Managing Director of the NNPC, Dr. Maikanti Baru, made this submission during his goodwill message today at the opening ceremony…
FG, states, LGs loose $2.7bn profits on NIPPs
By Energy Worth Reports have shown that fluctuations in the exchange rate of the Naira to the United States dollar, vandalism of gas pipelines and violence in parts of the country are preventing the sale of 10 electricity generation plants under the National Integrated Power Projects. It was also gathered that about $2.7bn profit that…
SIPP signs EPC with Energy China to construct power plant in Ogun
Sagamu Independent Power Plant A Private Developer in Power and Infrastructure, Sagamu Independent Power Plant Limited (SIPP) has announced the signing of an Engineering, Procurement and Construction (EPC) contract with Energy China for a 400MW Independent Power Plant (IPP) in Sagamu, Ogun state. According to The Guardian, the EPC contract, when finalised, Energy China will…
Shell must apologize to Ogoni –Ken Saro-Wiwa
A pressure group, The Ken Saro-Wiwa Associates, have said that the Royal Dutch Shell and its Nigerian subsidiary the Shell Petroleum Development Company (SPDC), must accept responsibility and apologise for their complicity in the human rights violations and murder of Ogonis between 1993 and 1998. This was part of the resolution reached at the end…
OVH Energy appoints Huub Stokman as CEO
A leading downstream company, OVH Energy, has announced the appointment of Huub Stokman as the new Chief Executive Officer (CEO). Prior to his appointment, Huub Stokman was the Head of Puma Energy International in Angola, responsible for the overall business, which included managing retail forecourt, terminal/logistics operations, as well as B2B business for fuels, lubricants,…
Gas supply, others deny Nigeria’s power sector N40.55bn revenue in one month
By Agency Report Reports have discovered that over 192 trillion standard cubic feet of gas reserves yet to be tapped, while power plants in the Nigeria lacks adequate gas to run turbines, giving rise to N40.548 billion revenue losses by the sector in one month. The report, according to the Power Sector News, disclosed…
TCN terminates 4 delayed power contracts, engages own engineers to complete projects
By Energy Worth The Transmission Company of Nigeria (TCN), has disclosed that it has terminated four power transmission contracts which it said were delayed because the contractors lacked the capacity, and has engaged its engineers to complete them. The Managing Director of TCN, Alhaji Usman Gur Mohammed, disclosed this at the 24th monthly power…