Category: Business News

The oil and gas giant, Total has announced a major oil discovery in the Ballymore prospect, located deep offshore in the U.S. Gulf of Mexico (Eastern GoM). The well was drilled to a final depth of 8,898 m and encountered 205 m of net oil pay in a high quality Norphlet reservoir. A sidetrack well…

*Minister of Power, Works and Housing, Mr Babatunde Fashola (middle) and other stakeholders at the event. By Energy Worth The Minister of Power, Works and Housing, Mr Babatunde Fashola has stated that the Transmission Company of Nigeria (TCN) had improved its capacity to transmit electricity from 5,000mw to 7,000mw. He disclosed this in Abuja at…

*NNPC GMD, Dr Maikanti Baru. By Energy Worth The Group Managing Director of the Nigerian National Petroleum Corporation ((NNPC), Dr Maikanti Baru has disclosed that more than 3,000 vehicles are now powered with the Compressed Natural Gas (CNG) in Benin-City, Edo State. Dr Batu stated this while addressing newsmen at a town hall meeting with…

*Dr Ibe Kachikwu By Energy Worth Minister of State for Petroleum Resources, Dr I’ve Kachikwu has disclosed that Nigeria is now 70 per cent gas flaring compliant. The minister was said this at the latest edition of the Organization for the Petroleum Exporting Countries (OPEC) Bulletins for December 2017 to January 2018. Kachikwu said the…

As part of its drive to impact society and improve the lot of teeming Nigeria youth through various CSR initiatives, IE has embarked on a youth empowerment project that will provide vocational training for youths from various communities while inculcating a step-by step guide to starting a small-scale business.At the end of the training, participants…

 Tag Oil has announced that its Founder, Chairman and Director, Alex P. Guidi, has resigned to pursue other opportunities, effective immediately. Alex P. Guidi commented, “I have sincerely enjoyed working with TAG Oil, but after an exciting thirty plus years in the international oil and gas industry, I am going to focus my attention on interests…

ExxonMobil has announced that it plans to triple total daily production to more than 600,000 oil-equivalent barrels by 2025 from its operations in the Permian Basin in West Texas and New Mexico. Tight oil production from the Delaware and Midland basins will increase five-fold in the same period. Recent changes in the U.S. corporate tax rate create…

Governor Aminu Tambuwal cutting the tape during the inauguration of the project By Energy Worth with Agency Report Governor Aminu Waziri Tambuwal of Sokoto State has commissioned the 80KWp solar mini – grid electricity project which will provide uninterrupted power supply to Kurudla Village in Gudu Local Government Area of Sokoto State on Friday 19th…

The Transmission Company of Nigeria regrets to announce that activities of wood loggers in Ukana town, by Nineth Mile-Nsukka road, Enugu, have damaged the transmission line between Oji River and Nsukka in Enugu State, cutting off electricity supply to the 2x 7.5MVA 66/11KV transmission Substation in Nsukka, which supplies electricity to Nsukka town in Enugu…

The enthusiasm in the oil markets is breaking records.Hedge funds reported record wagers on continued price increases for both U.S. and global oil benchmarks, along with gasoline and diesel. Meanwhile, producers are hedging production at record rates as oil experiences its best January since 2006.“There is a lot of interest in the direction of crude…