Energy Worth with Agency Report The Bank of Industry has signed a memorandum of understanding with the Export-Import Bank of China for the provision of a $500m facility towards the establishment of modular refineries in Nigeria. The establishment of modular refineries is part of the Federal Government’s plan to end importation of petroleum products and…
By Haley Zaremba An international team of scientists has made a major breakthrough for the future of sustainable fuel. They achieved this major milestone by copying the methods of some of the cleanest energy producers on the planet—plants. Scientists from the University of Cambridge and the Ruhr University Bochum have discovered a new technique that…
By Energy Worth The nation’s power grid has suffered its ninth total system collapse this year amid a lack of spinning reserve that is meant to forestall such occurrences. This year, the national grid has so far recorded 10 collapses – nine total, while one was partial, the latest data obtained by our correspondent from…
Oil giant, Shell, has reportedly initiated negotiations with local oil producers for selling two of its Nigerian oil licences in the Niger Delta, collectively worth $2 billion. Vanguard has reported. The Anglo-Dutch petrochemical giant is in talks about selling its oil mining licenses 11 and 17, reports confirmed. Sources close to the matter revealed that…
By Energy Worth The Federal Capital Territory (FCT) Minister, Muhammad Bello, on Friday, announced that all quarrying/mining activities and borehole drilling be suspended forthwith in the areas affected by the recent earth tremor. Affected by the quarrying/mining and borehole drilling suspension are Mpape, Gwarimpa and Garki districts. The suspension will subsist pending the outcome of…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) on Friday, allayed fears of possible hitch in petroleum products supply in parts of the country, stating that it has already commenced moves to resolve the issue that might lead to an interference in supply fuel. This, according to a statement by the corporation in Abuja,…
By Tsvetana Paraskova A joint panel of OPEC and non-OPEC representatives will discuss next Tuesday how the group could distribute among them the 1 million bpd production increase that was agreed in June Reuters reported on Friday, citing sources familiar with the plans. OPEC and its Russia-led partners of non-OPEC producers in the production cut…
The Nigerian National Petroleum Corporation (NNPC), has signed a Memorandum of Understanding (MoU) in China with the China National Offshore Oil Corporation (CNOOC) towards developing Nigeria’s oilfield services as well as boosting research and development in the oil and gas industry. The MoU signing, the third in the series within the week, by the NNPC…
It has been recorded that solar installations in India in Q2 2018 were at the lowest level since Q1 2017 with 1,599MW, a 52% decrease compared to 3,344MW installed in Q1 2018. This is according to Mercom India Research’s newly released Q2 2018 India Solar Market Update. The report noted that installations were also down…
By Energy Worth Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, on Thursday, announced immediate stoppage of fuel distribution and supply in Delta State, following alleged forceful evacuation of about 3,000 workers from the rigs by five drilling oil rigs being operated by Sterling Energy Exploration Company, SEEPCO, and its drilling arm, British Oil…
