By Energy Worth Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Tuesday, refuted insinuations of plans by the Federal Government to sell the Nigerian Liquefied Natural Gas Limited, NLNG. He said that there was no such plan at the moment. The minister made this known at the opening of a 3-day investigative hearing…
The Nigerian National Petroleum Corporation (NNPC) will establish two condensate refineries with a total refining capacity of 200,000 barrels per day at Western Forcados Area and Assah North Ohaji South (ANOH) Areas of Delta and Imo State respectively. Natural-gas condensate is a low-density mixture of hydrocarbon liquids that are present as gaseous components in the…
Here is a confession that should make crude oil producers and oil investors worried. The chief executive of French oil and gas giant Total said on Monday that he and his wife drive an electric car. “It’s a 100 percent e-car. It’s a nice Renault electric car. And I’m driving it every weekend. It’s my…
Kainji and Jebba hydropower Generation Companies (GenCos), operated by Mainstream Energy Solutions Limited (MESL), have delivered an uninterrupted 24 hour electricity supply to seven firms labelled as ‘Eligible Customers’ with a cumulative 1,162.9 Megawatt Hour (MWH) energy capacity. A daily operational report for energy delivery obtained from the Independent System Operation (ISO) arm of the…
By Irina Slav Saudi Arabia’s King Salman has demanded that the initial public offering of Saudi Aramco be called off, stepping in to shelve the plans of his heir apparent, Crown Prince Mohammed bin Salman, for what was tipped to be the world’s biggest IPO ever, Reuters reports, citing three sources with ties to Saudi…
Energy Worth with Agency Report The people of Aghoro 1 community in Ekeremor Local Government Area, Bayelsa State, have accused Shell Petroleum Development Company of using the Joint Military Task Force, Operation Delta Safe, to coerce their leaders into signing oil spill reports. Aghoro, a coastal settlement along Ramos River, recently experienced an oil spill…
By Tsvetana Paraskova OPEC and its Russia-led non-OPEC partners in the production cut deal reduced their total oil production in July by 9 percent more than what they had agreed upon, Reuters reported on Monday, citing two sources familiar with the findings of an OPEC/non-OPEC monitoring committee on compliance. The committee—consisting of representatives from the…
Communities in the Niger Delta have insisted that international oil companies (IOCs) must relocate their headquarters to the region given the magnitude of their projects and the environmental challenges their operations pose to the people. The leaders of the communities, who spoke to The Guardian on Monday, maintained that it was only fair and logical…
Nigerian households lost a total of 6,390 Megawatts, MW, of electricity in three days from the 11 Electricity Distribution Companies, DISCOs due to high frequency, resulting from unavailability of infrastructures. The office of the Vice President of Nigeria, Prof. Yemi Osinbajo, stated in its latest report that, between Friday, 24th and Sunday 26th of August,…
By Energy Worth Nigeria’s excess oil revenue has increased from $48.3 million to $58 million per day as international oil price leaps to $76 per barrel Monday from $72. The Federal Government had benchmarked its 2018 budget earnings at $51 and 2.3 million barrels oil output. But the oil price which had hovered at between…
