By Energy Worth The Senate has approved the payment of subsidy claims totalling N348bn to oil marketing companies based on a request by President Muhammadu Buhari. The approval was made at the plenary on Wednesday following the adoption of the interim report by the Senate Committee on Petroleum (Downstream) on ‘Promissory Note Programme and Bond…
By Energy Worth Stakeholders in Niger Delta have cautioned President Muhammadu Buhari against signing the Petroleum Industry Governance Bill (PIGB), alleging that it seeks to privatise the country’s oil and gas assets and to further impoverish the people of the region. They warned that any attempt to privatise the oil and gas assets in the…
By Oke Peter Organiser of the Australia’s largest and most comprehensive clean and renewable energy exhibition and conference, All-Energy Australia, Reed Exhibitions, has announced that the 10th edition of Exhibition and Conference will hold between 3rd and 4th October, 2018 at the Melbourne Convention and Exhibition Centre. The 2018 edition, organized in partnership with Clean…
By Nick Cunningham Oil prices have retreated as disrupted supply from Libya has started to come back online, threatening the recent gains in oil prices. But a bigger threat to crude over the second half of 2018 and into 2019 is a slowdown in the global economy. The International Monetary Fund warned in its latest…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has commenced comprehensive community integration and stakeholders’ engagement to sensitize dwellers of Iwure, Ojor and Osomba/Akin communities of Cross River State ahead of planned oil palm-based biodiesel project in that part of the state. A release by Corporation’s Group General Manager, Group Public Affairs Division, Ndu…
By Energy Worth Most of the statements made last week Monday by the Minister of Power, Works and Housing, Babatunde Fashola, about the power sector are false, according to the electricity distribution companies. They said on Tuesday that comments made by the minister on metering, power generation and transmission capacities and stranded electricity, among others,…
Energy Worth with Agency Report The Lagos headquarters of ExxonMobil has been shut down by the company’s workers’ unions over the sacking of 860 spy police without entitlement. The workers besieged the office of the oil company, protesting the sacking of workers, mainly Nigerians, on Tuesday in Lagos. The protesters accused the company of sacking…
By Tsvetana Paraskova OPEC will continue to play a key role in oil supply and prices in the global oil market through 2040, despite the relentless oil production in the Permian and expectations for production increases in the United States and other non-OPEC countries in the 2020s. That’s the takeaway from Wood Mackenzie’s latest long-term…
By Energy Worth A Memorandum of Understanding has been signed between the Akwa Ibom State Government and BlackRhino, operators of Qua Iboe Power Plant, QIPP, for the establishment of a transmission line and a power plant in the state Governor Udom Emmanuel of Akwa Ibom State and the Managing Director of QIPP who arrived from…
By Tsvetana Paraskova UK-based independent oil and gas company Savannah Petroleum has made a third oil discovery in Niger in as many months and is extending its drilling campaign in the area. Savannah Petroleum has discovered oil bearing reservoir sandstones in the Kunama-1 exploration well it had drilled in the Agadem Rift Basin in Southeast…
