The Executive Director of the International Energy Agency, Dr Fatih Birol, accompanied by a delegation of senior IEA officials, visited the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna today, and met with its Secretary General, Mohammad Sanusi Barkindo. Dr Birol and Mr Barkindo underscored the growing working relationship between both organizations…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has disclosed that it has completed outstanding audit of the Group Financial Statements from the years 2011 to 2016. The audited backlog has since been formally approved by the Board of the corporation in line with extant laws governing the operations of the national oil company….
By Energy Worth Communities in Ikot Okoro, Essien Udim, Ikot Ekpene Local Government Areas of Akwa Ibom State would soon be connected directly to the national grid, from the 330kv Ikot Ekpene Transmission Switching Station as effort is being intensified to construct a 2X150MVA and 2X60MVA 132/33KV Transmission Substation within the premises by the Niger…
The Management of Transmission Company of Nigeria (TCN), has denied that the newly installed 60 MVA transformer in Dan Agundi Substation in Kano broke down two days after installation as reported in the Nation Newspaper on-line platform credited to Mr Sani Bala Sani, Head, Corporate Communications, Kano Electricity Distribution Company. In a release by the…
By Energy Worth Four power generation plants capable of adding 1,262MW of electricity to the power grid have been primed to commence operations soon, operators of the facilities have disclosed. Three of the plants, under the National Integrated Power Projects (NIPP), currently being managed by the Niger Delta Power Holding Company (NDPHC), would be fired…
By Energy Worth A bill to prohibit the issuance of estimated electricity bill to power consumers across the country has been initiated in the House of Representatives. The Bill, sponsored by the Leader of the House, Honourable Femi Gbajabiamila, the proposed legislation has consequential orders criminalising such billings method which many Nigerians considered as extortion…
Energy Worth with Agency Report Some German experts have concluded and launched a “PV-Calculator”. The tool compares costs of solar power with the currently existing diesel generation costs for a specific planned PV project and generates an individual economic approximation for the considered solar investment. It is also handy, quickly generates numbered results and has…
There are strong indications that the N701 billion payment assurance facility secured by the Nigerian Bulk Electricity Trading Plc (NBET) for power generation companies (Gencos) in Nigeria may not last up to the 24 months disbursement timeline it was originally planned for. This is because of the poor financial remittances of the 11 electricity distribution…
The Nigerian National Petroleum Corporation (NNPC) has concluded arrangement for the historic groundbreaking of the 40inch x 614km Ajaokuta – Kaduna – Kano (AKK), gas pipeline and stations in the weeks ahead. The corporation said following last week’s successful execution of contract agreements for the engineering, procurement, construction, commissioning and financing for Lots 1 and…
Energy Worth with Agency Report The Programme Manager, National Gas Flare Commercialisation Programme (NGFCP), Federal Ministry of Petroleum Resources, Justice Derefaka, has disclosed that Nigeria loses approximately $10 billion of revenue through gas flaring, due to its inability to capture and commercialise flared gas in the country. He further stated that if flared gas is…
