By Energy Worth The Minister of Power, Works and Housing, Babatunde Fashola has called on state governors to support access to electricity through improved power infrastructure in their respective states, saying “It is no longer news that the Distribution Companies (DisCos) are having difficulty funding Distribution Infrastructures”. “Therefore, as collective 40% shareholders, we cannot sit…
By Nick Cunningham The oil industry is more profitable than at any time in years, yet the industry could fail to supply enough oil to meet global demand in just a few years’ time. A series of second quarter earnings reports over the past two weeks has revealed surging profits across the oil industry, with…
By Energy Worth The decision to go ahead or withhold action the development of Nigeria’s Bonga Southwest offshore oilfield by Royal Dutch Shell and its partners has been put off till 2019, a senior company official said. It is not clear if the delay is connected to the political trend in the country. The project…
By Energy Worth The disagreement between the Federal Government and power distribution companies continued on Tuesday, with the Discos threatening to quit the sector and expressed willingness to resell the power assets at discounted rates. Investors in the Discos came out this time around to speak for their companies rather than sending the spokesperson for…
By Energy Worth The Federal Government and the management of the Nigerian National Petroleum Corporation (NNPC) have been commended for the improved security situation in the Niger Delta which has rubbed off positively on the operations of international oil companies. This commendation was given by the Chief Operating Officer, Upstream, Eni, Mr. Antonio Vella, when…
By Energy Worth As part of efforts to improve power supply in Edo State, the Benin Electricity Distribution Plc (BEDC) has inaugurated a total of 1,694 distribution transformers in the state since the new management take over in 2013. The company, which disclosed this in a customer information update on Edo State it released recently,…
By Energy Worth The Chairman, House of Representatives Ad-hoc Committee investigating alleged constitutional breaches, impunity and other infractions of the Niger Delta Power Holding Company (NDPHC), Honourable Darlington Nwokocha (PDP, Abia), on Monday, described the past and present boards and management of the NDPHC as illegally constituted largely because their appointments were never ratified by…
By Energy Worth The electricity distribution companies (Discos) through the Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Mr Sunday Oduntan, while at a press conference in Lagos described the liquidity crisis in the sector as a major issue, stressing the need for the government to put in place a cost-reflective tariff,…
By Energy Worth Speaker of the House of Representatives, Hon. Yakubu Dogara, has reiterated the commitment of the green chamber to utilising every necessary legislative tool in solving challenges bedevilling the power sector. He made this known on Wednesday while speaking at an investigative hearing by the House committee on power on the need to…
By Tsvetana Paraskova As United States sanctions on Iran are about to kick in later this year, Indian oil refiners reduced their orders for Iranian crude oil in June by 12 percent compared to May, India’s Oil Minister Dharmendra Pradhan said in Parliament on Monday. Some big Indian refiners worry that their access to the…
