Category: Editorial
Why the Iran conflict won’t move oil prices
In addition to the Wednesday boost from a Phase 1 US-China trade deal that would ostensibly see China import tons of US LNG and coal, oil prices got a boost Thursday from the Senate’s approval of the US-Mexico-Canada trade agreement, with Mexico and Canada being the top two targets for US petroleum exports. However, by…
The rise and rise of Ikeja Electric
By Oke Peter Being a great leader is all about having a genuine willingness and a true commitment to lead others to achieve a common vision and goals through positive influence. —John C. Maxwell. For the leading Nigerian electricity distribution company, Ikeja Electric Plc, the will to win, the desire to succeed and the urge…
How do the Saudi attacks affect Nigeria?
A swarm of drones set off a chain of explosions the Saudi Aramco oil production facilities at Abqaiq and Khurais in eastern Saudi Arabia on 14 September 2019. It is important to note that the Abqaiq facility is not a refinery or a petrochemicals plant, but is a crude separating facility where impurities like hydrogen…
Clean energy, still scratching the surface
The industrial take-off required to support the much-needed economic diversification remains elusive. A principal reason is Nigeria’s structural deficit, in which the epileptic power supplies form a major part. Industry sources suggest that businesses suffer an average monthly power outage of 239 hours (equivalent to about two weeks). As such, self-generation and the associated costs…
Who will lead the gas-to-power charge?
Low LNG prices and pressing environmental challenges are becoming key drivers for the gas-to-power sector. But widespread adoption faces political and technological hurdles Gas-to-power technology has been presented as a potential panacea both for developing countries looking to wean themselves off coal, and developed countries seeking transition-friendly energy solutions. But uncertainties remain over who will…
Waiting for the dust to settle in Algeria
Political turmoil is unsettling Algeria’s energy sector and its IOC investors Algeria’s energy sector finds itself in the firing line once more. Following the ousting of president Abdelaziz Bouteflika after mass street protests, the boss of state energy giant Sonatrach has been sacked and prosecutors are re-opening corruption investigations into the company. The sacking, and…
Gas-to-power facing socio-economic challenges
Vested interest opposition to wider natural gas use for electricity generation discussed as Petroleum Economist holds its first Gas to Power forum in London. Using natural gas to generate electricity as the world transitions away from coal will likely create socio-economic challenges beyond the cost, technological and environmental pressures that it already faces, attendees heard…
Texas and its new favourite energy source
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…
‘This new Oil hotspot is replacing Venezuelan crude’
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,…
The persistent delay in Ogoni Clean-Up
The restoration of Ogoni land in Rivers State from environmental degradation occasioned by decades of careless oil exploitation in the area has continued to suffer from the customary official lethargy. Almost eight years after the receipt of the technical report prepared by the United Nations Environment Programme (UNEP) at the instance of the Federal Government,…