By Tsvetana Paraskova In a tight oil market reacting with price gains to concerns about supply shortages, the leaders of the OPEC and non-OPEC nations part of the production cut deal—Saudi Arabia and Russia—hinted last week that easing the cuts was an option that they had discussed and that would be up for talks at…
By Energy Worth Nigerian National Petroleum Corporation (NNPC) has dismissed rumours of an approved N36 billion compensation said to be due to Alesa-Eleme community in Rivers State as royalty for playing host to the Port Harcourt Refining Company, a subsidiary of the corporation. The corporation’s Group General Manager, Group Public Affairs Division, Mr Ndu…
By Oke Peter Nine months after the Senate resolved to investigate alleged $25b contract scam in the Nigerian National Petroleum Corporation (NNPC), no positive step has so far been taken to provide details to anxious Nigerians. After its inaugural meeting in October 2017, the committee soon buckled under pressure, allegedly mounted on it by…
The controversy over the $16billion power projects in the country raged on yesterday, May 30, 2018, with a highly-placed source linked with the Niger Delta Power Holding Company (NPDHC) claiming that between $8.4billion and $8.58billion, out of the projected $16 billion was the amount actually allocated. The release of the $8.58billion was between 2005 and…
The Electric Power Sector Reform Act (EPSRA) of 2005, and the Nigerian Electricity Supply Industry (NESI) are on the journey towards a perfect competition in the electricity industry market where there are few, if any, barriers to the entry of new players and prices are determined by the forces of demand and supply. Energy News…
There have been suspicions of sabotage and vandals’ activities on the recent collapse of a 132kv power transmission tower conveying electricity to Daura and neighbouring towns in Katsina state. The tower which is among the many along the line is built by the Transmission Company of Nigeria (TCN) and transmits electricity to the Daura transmission…
By Energy Worth The Minister of Power, Works and Housing, Mr. Babatunde Fashola has said there would be a drop in power supply because of the rain. He said power equipment was prone to destruction when there is heavy rainfall, adding that transformers, wires, cables and others are damaged by a thunderstorm. Speaking on the…
Stakeholders in the nation’s power sector have implored the Federal government to address distribution bottlenecks in Nigeria’s electricity value chain. They said although the power sector had witnessed increased generation and massive investment in transmission sector, there was no improvement in distribution. The stakeholders spoke against President Muhammadu Buhari’s Democracy Day speech on power supply,…
Energy Worth with Agency Report Nigeria has signaled an increasing shift towards the use of coal for the generation of electricity to power its economy as it invests N30 billion in the sector. The West African country has coal reserves of about 25 billion tons and this, the government is eager to exploit. Dr. Dauda…
Energy Worth with Agency Report The Forum of South-South Governors on Wednesday in Port Harcourt restated its demand for restructuring and 13 per cent derivation from the Federal Government. Spokesperson for the Forum, Governor Seriake Dickson of Bayelsa, said after a one-day meeting that the demand was in the spirit and clamour for restructuring and…
