By Energy Worth The United States’ monthly crude oil import from Nigeria has fallen below 3.0 million barrels for the first time in more than two years, dropping by 62%. The decline in the country’s appetite for Nigerian crude followed the upsurge in its production of the commodity. The latest data from the US Energy…
By Energy Worth The Edo State Government has warned owners of illegal structures under and within the statutory right of way of the Transmission Company of Nigeria (TCN) in the state to remove such structures, as the government intends to enforce appropriate sanctions against defaulters. In a statement signed by the Commissioner for Physical Planning…
By Tsvetana Paraskova The second-largest oil field in Syria, the Tanak field in the oil-rich Deir Ezzor region, is operational again, nearly a year after U.S.-backed predominantly Kurdish forces recaptured the field from ISIS, Syrian news outlet Zaman Al Wasl reported on Friday, showing satellite images of the field. The Tanak field, which hosts around…
By Tsvetana Paraskova At least four tankers loaded with ultra-low-sulfur diesel (ULSD) en route from the U.S Gulf Coast to Europe abruptly changed course this week to Brazil, following a fire at a 415,000-bpd refinery of state oil firm Petrobras on Monday, S&P Global Platts trade flow data showed on Friday. On Monday, a fire…
South Africa’s competition watchdog has approved Glencore’s roughly $900 million bid for Chevron’s local and Botswana assets, bolstering its chances of scuppering a rival bid from China’s Sinopec. The News Agency of Nigeria (NAN) has reported. Chevron agreed last year to sell its stake to state-owned Sinopec before miner and commodities trader Glencore swooped in…
Mainstream Energy Services Limited (MESL) has increased its generation from 542 megawatts (Mw) to 922Mw and plans to increase it to 1,300Mw. MESL was licensed as a power generating firm in 2011. It acquired Kainji and Jebba Hydro Power Plants through a concession agreement in November 2013. The two plants are 100km apart with Kainji…
The Chief Technical Officer, Kano Electricity Distribution Company (KEDCO), Mr David Olu Omoloye, has advised the Federal Government to completely privatise the power sector so as to get the best from it. Speaking during an inaugural and investiture ceremony the Chairman, Nigerian Institution of Power Engineers (NIPE), Kano State Chapter, organised for him and other…
By Tsvetana Paraskova Panama is carrying out studies for potential oil exploration, hoping that recently discovered oil fields in neighboring Colombia close to Panama’s border could extend into Panama. Panama is 100-percent dependent on crude oil and refined oil products imports, although it is home to one of the most crucial shipping lanes in the…
By Energy Worth The Bureau of Public Enterprises has invited Expressions of Interest from prospective investors who are interested in purchasing 60 per cent stake in Afam Power Plc and Yola Electricity Distribution Company Plc (YEDC). The Head of Public Communications at the privatisation agency, Mrs. Amina Othman, confirmed this in a telephone interview with…
By Energy Worth Crude oil price has risen from $72.50 to $74.17per barrel in the international market as a result of limited inventories in the United States and Iran sanctions. In its report obtained by Vanguard, yesterday, the American Petroleum Institute stated that US crude stocks fell last week by 5.2 million barrels. The development,…
