Nigeria has cut its official selling prices of a basket of May-loading crude oil grades in a bid to attract buyers. The nation’s crude oil has had a difficult time clearing in recent weeks, as offer levels were too high to attract buying interest from European refineries. Nigeria released its official selling prices for May,…
By Tim Daiss Wind power capacity in the United States increased by 8 percent last year, soaring to an impressive cumulative total of 96.5 gigawatts (GW), the American Wind Energy Association (AWEA) said in a new report last week. The report said that the industry had “emerged from 2018 stronger than ever” as it now…
In a move that demonstrates its readiness to deliver efficient services to customers, leading Electricity Distribution Company, Ikeja Electric Plc (IE), has assured customers across its network of its commitment to ensuring hitch-free services during the Easter holiday. In a release signed by the company’s Head of Corporate Communications, Felix Ofulue, Ikeja Electric wishes its…
Prime Minister of Portugal, His Excellency António Costa, has confirmed to meet investors at the Africa Energy Forum (AEF) at the Lisbon Congress Center, Lisbon, Portugal from 11-14th June 2019. According to a release signed by EnergyNet’s Head of Marketing, Amy Offord, Energy Secretary, João Galamba, will also present the tender process for 1.35GW (2019)…
Construction process of the Kandadji hydroelectric project on the Niger River set to cost US $167m, has been officially launched by President of Niger, Mahamadou Issoufou and works has commenced. President Mahamadou Issoufou, who has been personally following this project since the eviction of the Russian company Zarubezhvodstroy which had proved unable to carry out…
By Oke Peter The nation’s power generation fell to a record low on Tuesday following the collapse of the national grid on Monday night. Data from the Nigeria Electricity System Operator (NESO), an arm of the Transmission Company of Nigeria (TCN), stood at 1,675MW as of 6.00 am on Tuesday. “System disturbance: This is to…
A High Court of the Federal Capital Territory (FCT) in Jabi has ordered the arrest of two former ministers – Mohammed Adoke (Justice) and Deazia Louya Etete (aka Dan Elete) (Petroleum Resources). The News Agency of Nigeria (NAN) has reported. Also to be arrested are Raph Wezels, Casula Roberto, Pujato Stefeno and Burrato Sebastino, who…
Damilola Shittu with Agency Report The Senate, Wednesday bowed to President Muhammadu Buhari’s positions on Petroleum Industry Governance Bill (PIGB) and six others he had vetoed, reviewing and passing them in accordance with the observations and recommendations of the president. The president had, exercising his powers under the 1999 Constitution, refused assent to the PIGB,…
A New York-based Natural Resource Governance Institute (NRGI) yesterday stated that the financial reports of the Nigerian National Petroleum Corporation (NNPC) do not contain systematic financial information that would enable the Federal Government to demand for accountability in its operations. In its latest report titled: ‘Resource Governance Index: From Legal Reform to Implementation in Sub-Saharan…
By Tsvetana Paraskova The United States sanctions on Venezuela’s oil industry have tightened the global heavy to medium crude oil market, sending oil buyers scrambling for alternatives to the heavy Venezuelan oil. Refiners in the United States and Europe have started to replace Venezuela’s oil with some of the crudes produced closer to their home,…
