By Cyril Widdershoven After a hectic week of unofficial meetings between OPEC members in Vienna, largely in and around the Hofburg, the former residency of the Austrian Emperor Franz Jozef and his wife Sisi, an official production increase agreement has finally been reached. In the official OPEC communique, the oil cartel stated that overall production…
By Oke Peter The Niger-Delta Power Holding Company (NDPHC) has inaugurated a newly built 1x15AmVA, 33/11KV injection substation to help address power supply challenges in Ungwa Rosa and surrounding communities of Kaduna North Local Government Area of Kaduna State. Managing Director NDPHC, Mr. Chiedu Ugbo, said the distribution substation was completed along with the construction…
By Energy Worth The minister of power, works and housing, Babatunde Fashola, has called on the distribution companies (DisCos) to pay attention to service delivery, repairs, maintenance and needs of customers. Fashola also said the challenge of power supply disruption during the rainy season may affect service delivery. Speaking at the 28th monthly meeting of…
By Nick Cunningham The latest from Vienna is that Russia and Saudi Arabia are leaning towards the aggressive end of the suite of options under consideration, but as always, the negotiations remain fluid. Reuters said that Saudi Arabia and Russia could push a 1.5-million-barrel-per-day increase as a negotiating tactic in order to get the rest…
By Tsvetana Paraskova Although OPEC and its Russia-led non-OPEC allies have not yet decided if and how much oil they will restore to the market, Russia’s plans for exports and refinery runs in the coming months point to Moscow preparing to increase its oil production, as early as in July. Russia’s July-September crude oil exports…
By Oke Peter The organizer of the popular energy summit, Africa Energy Forum (AEF), EnergyNet Limited UK, has conferred award on individuals and companies who have been a consistent positive force in Africa’s energy space to support the sector’s development. The event was held at the Beachcomber Hotel, Paradise, Mauritius from 19 to 22 June,…
The last may not have been heard about the failed $16 billion National Integrated Power Project as Professor Itse Sagay (SAN), Chairman of the Presidential Advisory Committee Against Corruption (PACAC), has said his committee may meet the anti-corruption agencies in the country over the facts and figures behind the project carried out in former President…
By Nick Cunningham The U.S. dollar has jumped to its strongest level in nearly a year, raising questions about how a strong greenback could act as a drag on debt and oil demand in much of the world. The U.S. Federal Reserve announced another rate hike a few days ago, which helped edge up the…
Mr Kola Adesina is Group Managing Director of Sahara Power Group, owners and operators of Ikeja Electric and Egbin Power Plc. Adesina says Nigeria’s intractable power problem, which has appeared to defy all solutions, can only be resolved when all relevant stakeholders in the power sector sincerely decide to do the right thing. He dissects…
Energy Worth with Agency Report The Transmission Company of Nigeria (TCN) said electricity generated into the national grid fell by 1,087.6 MW but denied the collapse of the grid. Mrs Ndidi Mbah, TCN’s General Manager Public Affairs said the fall in electricity generated led to load shedding nationwide. She said it was done to maintain…
