By Energy Worth President Muhammadu Buhari has congratulated the board, management, staff and shareholders of the Nigerian Liquefied Natural Gas company (NLNG), the NNPC and other Joint Venture partners, Shell, Total and AGIP on the signing of the contracts for the Front End Engineering Design (FFED) of Train 7 of the Nigeria Liquefied Natural Gas…
By Enegrgy Worth A boy, identified as Benedict Sani, has been electrocuted in the Uhunmwonde Local Government Area of Edo State. It was gathered that the incident occurred in Eyaen community at about 1pm on Thursday. It was said that the deceased was a teenager and a pupil of Eyaen Secondary School. It was learnt…
By Energy Worth The $5.1bn joint venture cash call argument between the Federal Government and international oil companies operating in Nigeria is over, the IOCs have said. In 2016, the IOCs gave the Nigerian National Petroleum Corporation (NNPC), which represents the Federal Government in different JV partnerships, a discount of $1.7bn from the $6.8bn cash…
By Energy Worth NIGERIA LNG Limited, NLNG, is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity from 22 Million Tonnes Per Annum, MTPA to 30 MTPA. This is part of the moves targeted at ensuring that the taking of Final…
Twenty two days after, the Nigerian Electricity Regulatory Commission (NERC) has insisted that the board and management of Ibadan Electricity Distribution Company (IBEDC) remain suspended for giving an unauthorised loan of N6 billion to its core investor, the Daily Trust exclusively reports. Industry sources on Tuesday said NERC refused to cancel the suspension Order and…
By Nick Cunningham Oil prices fell sharply on Wednesday on news that Libya was suddenly set to restore hundreds of thousands of barrels per day, and the U.S. struck a softer line on Iran sanctions. Brent sank more than 6 percent during midday trading on Wednesday, as Libya’s National Oil Corp. (NOC) said that it…
By Energy Worth A major stride in the attainment of national energy sufficiency was achieved in Lagos on Monday with the commencement of technical framing workshop and subsequent project signing ceremony of the seven Critical Gas Development Projects (7CGDP) to deliver about 3.4 billion standard cubic feet of gas per day (bscfd) to bridge the…
By Energy Worth The Minister of Power, Works and Housing, Mr. Babatunde Fashola, on Monday, disclosed that the indebtedness of power distribution companies, DisCos, to the Nigerian Bulk Electricity Trading Company (NBET), has risen to N859billion. As a result, the NBET has accumulated a total debt of N325.784billion which is meant for the payment of power…
By Energy Worth President Muhammadu Buhari has joined operators in the power sector to call on international customers who receive electricity from Nigeria to either pay their bills or be disconnected. Nigeria sells power to the Republics of Togo, Niger and Benin, and classifies the West African countries as international customers. Officials at the Federal…
A large number of residents of Ugborodo community in the Warri South Local Government Area of Delta State have protested against a contractor of Chevron Corporation, Jad Catering Service, for reneging on terms of agreement and demanded that the contractor be replaced. The protesters stormed the Chevron Corporation headquarters in Lekki, Lagos State, on Tuesday….
