By Energy Worth Following the rally in global crude oil prices, Nigeria has recorded a significant increase in oil export revenue as the country earned an estimated $26bn in the first seven months of this year. The country saw its oil export revenue rise by 30 per cent to $34bn in 2017 from $26bn in…
By Energy Worth Efforts by the Nigerian Stock Exchange (NSE), to woo multinational companies in the telecoms, and oil and gas sectors to list on the nation’s bourse may continue to ‘hit a brick wall’, unless government withdrew completely from private business. More so, regulators must interface with government to create appropriate regulation, tackle liquidity…
By ZeroHedge A tanker with 19 crew members on board is feared to have been hijacked after it went missing in pirate-plagued waters off Gabon in West Africa and no word has been heard from it for a week, the ship’s managers and the crew agency said on Wednesday. Communication was lost with the Panama-registered…
By Nick Cunningham Saudi Arabia is still clearly in control of the oil market. The narrative that decisively took hold over the oil market in August was one of cracks in emerging market demand, concerns over the health of the global economy and fears over the fallout from the U.S.-China trade war. Turkey’s currency crisis…
The Republics of Benin and Niger have paid $10.1m as electricity bill to Nigeria to avert being disconnected from their power source in Nigeria after the Federal Government threatened to disconnect debtors. It was also learnt that the countries made the payment through their respective power firms, with NIGELEC of the Republic of Niger paying…
The African Real Estate & Infrastructure Summit (AREI) has announced that leading women in the real estate development have been selected as speakers for this years’ event that will hold between 11 and 12 October, 2018 at Sandton, South Africa. The agenda of the summit will focus on various built development to improve the future…
By Energy Worth The Transmission Company of Nigeria (TCN), has reinstated that localising tripping in the power sector chain is not the company’s affair. This is coming against the backdrop of the recent allegation by Benin Electricity Distribution Company, BEDC, allegation that the National Grid was highly unstable, with over 2,000 tripping in its network…
By Energy Worth The Transmission Company of Nigeria (TCN) has promised that it would attain the capacity to transmit 20,000 megawatts of electricity to Nigerians by 2021. TCN’s Managing Director, Mr. Usman Mohammed gave the assurance Monday, during the inauguration of the 1x60MVA, 132/33KV transformer substation in Akure, Ondo State capital. He said the inauguration…
Concerned stakeholders in the country’s petroleum industry have appealed to the Federal Government to spell out the timetable for the implementation of the Petroleum Industry Governance Bill (PIGB) if it eventually becomes a law. The bill is current with the Presidency, awaiting the assent of President Muhammadu Buhari. A panel of energy experts who spoke…
The directives by Vice President Yemi Osinbajo aimed at easing traffic congestion in the Apapa area of Lagos State and ensuring the relocation of oil companies’ headquarters to the Niger Delta have not been complied with. Some oil companies have insisted there is no need to move to the region as they already have robust…
