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…
By Tsvetana Paraskova Despite an expected slowdown in Permian growth rates, the U.S. shale patch is increasing production and will continue to do so this year and next. Oil market investors and analysts are currently very much focused on the demand side, with concerns over the potential of trade wars to curb oil demand growth….
By Energy Worth The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, said on Thursday that the split of the corporation into two entities if not properly communicated to the workers could generate some tension between the unions. Baru noted the Petroleum Industry Governance Bill, recently passed by the National…
By Energy Worth Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru in Dubai, United Arab Emirate directed the Chinese Consortium and the NNPC Project Team on the Ajaokuta-Kaduna-Kano (AKK) Pipeline Project to ensure timely finalization of the term sheet for the project’s contractor financing agreement. The Chinese consortium is made…
The Nigerian National Petroleum Corporation (NNPC) on Wednesday, emphasized the availability of enough gas for power generation noting that the recent drop in electricity generation was as a result of some factors outside its control. The NNPC stated that as critical partners in the electricity generation matrix, it is willing to work with other stakeholder…
Energy Worth with Agency Report Federal Inland Revenue Services (FIRS), has sealed off of the corporate headquarters of Transmission Company of Nigeria (TCN), over unremitted taxes. Though details of the tax liability were still sketchy during press time, it was gathered that the workers were locked out of the premises of TCN situated at Maitama…
