By Energy Worth Stakeholders, including a former Vice-President, Africa Region, World Bank, Oby Ezekwesili, on Monday, called on the Federal Government to insist on accountability and binding rules on revenue outflow from the nation’s Excess Crude Account. They said the absence of rules of practices governing deposits, withdrawals and investment of the ECA led to…
By Energy Worth The Speaker of the House of Representatives, Honourable Yakubu Dogara, said on Monday that the frequent hike in electricity tariff was injustice to Nigerians, who had become accustomed to living without regular power supply. He observed that the tariff hike was in spite of the N123bn bailout the Federal Government gave the…
By Energy Worth The Miners’ Association of Nigeria (MAN) has disclosed that the forthcoming third edition of the Nigeria Mining Week (NMW) will provide practical business know-how and updates that will enhance mining activities in Nigeria. The event will hold between 15 and 18 October, 2018 at the Nigerian Air Force Conference Centre, Abuja, Nigeria….
By Nick Cunningham Oil price projections are infamously all over the map, but the current chasm between various pricing forecasts is striking, offering wildly different views. On the low end we have Citibank, which recently stated that Brent oil prices could fall to as low as $45 per barrel within the next year. Citi’s Ed…
By Energy Worth THE Federal Government, on Wednesday, disclosed moves to complete Farin Ruwa dam project in Nasarawa State including generation of 20 megawatts of electricity from it when completed. This was made known by the Permanent Secretary in the Federal Ministry of Water Resources, Dr Musa Ibrahim, during a meeting with a delegation of…
Enugu Electricity Distribution Company (EEDC) yesterday said it has spent more than N10 billion on the procurement and installation of prepaid meters to its customers as part of efforts to end estimated billings in its area of coverage. The company also announced that it inherited more than 700,000 unmetered customers when it took over from…
Energy Worth with Agency Report Royal Dutch Shell Plc is in talks to sell two Nigerian oil licenses in an area that’s at the heart of environmental and human rights controversies for $2 billion, according to people familiar with the plan. The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to…
By Energy Worth The latest operational performance of the nation’s refineries as released by the Nigerian National Petroleum Corporation shows that two of the plants in Kaduna and Port Harcourt have been dormant. According to the NNPC, while the two refineries cannot refine any crude oil, the one in Warri is performing better, as its…
By Energy Worth The confrontation between the power distribution companies and the Minister of Power, Works and Housing, Babatunde Fashola, continued on Sunday, with the Discos firing back at the minister, accusing him of spending taxpayers’ money on misguided projects. Responding to Fashola’s recent statements against its members, the Association of Nigerian Electricity Distributors (ANED),…
By Dan Dicker Oil markets have shown tremendous weakness in recent days, losing nearly seven dollars before rallying back a bit on Thursday. What’s causing it? Market analysts have been struggling to find a single reason for it, preferring to cite a cocktail of negative news and rumor to explain the downdraft. There have been…
