Nigeria crude oil production which generates the bulk of the country’s government revenue is up to 2.0 million barrels per day, which is the highest level in over a year, according to the statistics bureau. While growth rate in the non-oil sector was a meager 0.8 percent despite slowing inflation and higher oil prices, surprising…
By Energy Worth The Federal Government said it had restored 80 per cent of the electricity transmission and distribution installations damaged by insurgents in the North-East, which has resulted in an incremental and improved supply to customers in the Yola DisCo’s franchise areas. Disclosing this in Yola, Adamawa State on Monday, while giving his opening…
By Nick Cunningham Electric vehicles will become cheaper than the internal combustion engine in a half decade, while electric buses will completely “dominate” its sector by the late-2020s, according to Bloomberg New Energy Finance (BNEF), which just published its Electric Vehicle Outlook 2018 report. EV sales will top 1.6 million in 2018, up from just…
ExxonMobil and its employees contributed more than $170,000 to institutions of 6 higher education across New Mexico as part of the ExxonMobil Foundation’s 2017 Educational Matching Gift Program. ExxonMobil employees, retirees, directors and surviving spouses contributed more than $42,700 to 6 New Mexico colleges and universities, which was matched by more than $128,000 in unrestricted…
More details are emerging on the N72 billion financial facility plans by the Nigerian government from which the 11 electricity distribution companies would upgrade and expand their networks. The EnergyNewsTM team found out that the facility would be a shareholder loan that the Discos have been asked to match or convert to equity. This is…
By Alicestine October South Africans were never informed properly that nuclear power is not as expensive as it is made out to be, a nuclear energy expert said Thursday. Nuclear energy expert, Des Muller dismissed these and other concerns as “propaganda”. He refuted the cost issue but also took aim at corruption concerns over the…
Ibom Power Company is wooing investors for the second phase of its project expected to generate 500mw of electricity located in Ikot Abasi Local Government Area of Akwa Ibom State. Currently, the plant generates 191mw of power from its first phase while it is able to evacuate about 153mw due to poor energy infrastructure. The…
By Energy Worth The Indian High Commissioner to Nigeria, Shri Reddy, said his country has made available the sum of about $174.96 million to boost power supply in Nigeria. Reddy made this disclosure on Wednesday, while speaking at a workshop organised by All Indian Universities Alumni in Abuja. Speaking on his behalf at the event,…
Oil magnate, Femi Otedola has invested $350 million in a power generation company known as Geregu Power Plc. Otedola acquired the company in 2013 through a subsidiary of Forte Oil Plc, Amperion Power Distribution Company Limited. Otedola recently revealed his $350 million investment in the power generation company days after joining Twitter. The investment is…
By Energy Worth The Eko Electricity Distribution Company (EKEDC) on Wednesday, decried the spate of violent attacks on its workers while on lawful duties. EKEDC’s General Manager, Corporate Communications, Mr Godwin Idemudia, in a statement issued in Lagos, said their workers had been attacked by people claiming to be protesting against epileptic power supply. He…
