By Oke Peter The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has said timely approval of field development plan is a win-win situation for both the government and investors. Kachikwu, in his presentation at a technical symposium organised by the Society of Petroleum Engineers, Nigeria in Lagos, described the FDP as one of…
By Alan Mammoser On a recent warm evening in the Dubai desert, government ministers and business leaders gathered to mark a major milestone in solar power, one of worldwide significance. A new phase of the Mohammed bin Rashid Al Maktoum Solar Park (aka MBR Solar Park) was opened. The assembled crowd was joined by the…
ExxonMobil has announced greenhouse gas reduction measures that are expected to lead to significant improvements in emissions performance by 2020, including a 15 percent decrease in methane emissions and a 25 percent reduction in flaring. The company also announced its intention to improve its industry-leading energy efficiency in refining and chemical manufacturing facilities. ExxonMobil invests…
The yearning to ensure qualitative and stable power supply to Nigerians has made the federal government to install two 15 Mega Volt Ampere (MVA) capacity transformers to boost electricity supply to Lagos State residents. The projects would go a long way in boosting the economy of the state through the expansion and sustainability of small…
Why was a whopping $15 billion invested in the National Integrated Power Project (NIPP)? This is a question that has lingered for more than a decade. Yusuf Alli writes on while the multi-billion power sector investment did not yield the desired result. LIKE a recurring decimal, the debate on what happened to the $16 billion…
Energy Worth with Agency Report Nigeria’s petroleum sector contributed Value Added Tax (VAT) of N12.132 billion during the first quarter of 2018, data from the National Bureau of Statistics (NBS) has shown. NBS said its first quarter VAT allocation report at the weekend, that offshore operations of the oil and gas sector generated 797.489 million;…
By Energy Worth President Muhammadu Buhari came hard on former President Olusegun Obasanjo, on Tuesday, accusing him of “bragging” he spent $16 billion on the power sector without anything to show for it. Buhari bared his mind while receiving members of the Buhari Support Organistion (BSO), led by Comptroller-General of Customs, Colonel Hameed Ali, who…
By Energy Worth The Transmission Company of Nigeria (TCN), disclosed on Wednesday that, it was economically wise to sell electricity to buyers in other countries since generating companies must continue to invest and reinvest to sustain the supply chain. Defending the sale of electricity to other countries when a greater percentage of the populace are…
By Tsvetana Paraskova As soon as next month, OPEC may decide to reverse some of the production cuts in place since the beginning of 2017, to respond to supply concerns over plummeting Venezuelan production and the potential loss of some of Iran’s oil exports due to the return of U.S. sanctions, sources at OPEC and…
The Nigerian Electricity Regulatory Commission (NERC), has said that the Mini Grid Regulation it rolled out in 2017 is meant to cut down the cost for supplying electricity in rural areas and to accelerate rural electrification projects. The Assistant General Manager (AGM), Renewable Energy and Rural Electrification at NERC, Dr. Abdullahi Yusuf, said this at…
