By Irina Slav French supermajor Total will increase Nigeria’s oil production by 200,000 bpd by the end of the year, a senior official from the local unit of the company said at an industry event, adding the increase will come from the development of the Egina Deep project. “Our plan is to maintain aggressive exploration…
By Julianne Geiger Citing $1 trillion in planned investments lost since the market downturn began, Aramco’s chairman of the board of directors Khalid Al-Falih issued a battle cry to the world’s other oil producers in its latest report, Saudi Aramco Annual Review 2017. The message: mature oil fields are seeing an increase in declining production…
By Energy Worth Ibadan Electricity Distribution Company (IBEDC) said it has expended over N11.5bn worth of investments on metering, network upgrade and rehabilitation of its network operations. The company’s Managing Director, Mr. John Donnachie, who disclosed this during a media facility tour and equipment inspection in Ibadan, Oyo State, said part of the investment was…
By Energy Worth Nigeria is not about to experience a potential nationwide electricity blackout on account of recent disturbances on the operations of the Transmission Company of Nigeria (TCN), the Managing Director of TCN, Mr. Usman Mohammed, assured Nigerians Wednesday. Mohammed gave this assurance in Abuja during an interaction with newsmen on the recent protest…
In a rare feat, a Nigerian power production company, Top Two Group, is to build a 5-megawatts capacity power plant for a South African company, Country Bird Holdings, owners of Valentine Chickens Farms in Songa, Kwara State. Electricity Under the Memorandum of Understanding already signed between the Nigerian company and the South African entity, Top…
By Energy Worth Findings have shown that International oil companies and other operators are expected to spend a total of $40.7bn on the development of planned projects and $117.1bn on key announced projects in Nigeria and other sub-Saharan African countries between 2018 and 2025. GlobalData, a global data and analytics company, said in a new…
Energy Worth with Agency Report Oil prices dipped on Friday, with US crude heading for a seventh weekly decline amid increasing concerns about slowing global economic growth that could hit demand for petroleum products as inventories build. The News Agency of Nigeria (NAN) has reported. Brent is heading for a two per cent decline this…
By Energy Worth Eko Electricity Distribution Company (EEDC) says it working towards ending ‘crazy billing’ meted out to consumers on its network through a project aiming to improve the company’s estimated billing system. A statement from the firm on Thursday indicated that the process was ongoing and will reduce cases of outrageous billing. In the…
The Djermaya solar project, represented by its majority shareholder InfraCo Africa, recently signed a 25-year power purchase agreement with the Ministry of Energy and SNE, the national power utility company. This contract marks a key step in the development of the solar plant as it allows the project to obtain the necessary funds to finance…
By Energy Worth There are indications of possible blackout across the country soon, as electricity Generating Companies (GENCOs) have threatened to shut down their plants over what they described as frequency decay due to inefficient grid management and associated costs. In a document signed by Executive Secretary, Association of Power Generation Companies (APGC), Dr. Joy…
