By Nick Cunningham The oil industry might not be able to produce enough oil to meet global demand in a few years’ time. To be sure, much of the oil world is focused on the supply fears in the near-term. The outages in several OPEC nations, plus the tightening noose on Iran from the U.S….
Energy Worth with Agency Report The Dangote refinery plans to start selling petrol, diesel and aviation fuel by early 2020, but the fertiliser plant, will start producing urea this year, Edwin Devakumar, the group executive director told Bloomberg. The $10 billion refinery, set to be one of the world’s largest and which can process 650,000…
By Energy Worth THREE vandals of Enugu Electricity Distribution Company (EEDC) property have been convicted and sentenced to three years imprisonment by Justice I. B. Garfai at the Federal High Court 1, Awka, Anambra State. It was gathered that they were sentenced to three years imprisonment for conspiracy, unlawful damage and stealing of electricity cables…
Chief Executive Officer and Managing Director of Eko Electricity Distribution Company (EKEDC), Mr. Adeoye Fadeyibi, at a Customers Engagement Town Hall Meeting held on Friday, July 6th stated that the company was recording huge revenue losses in Lekki due to meter bypass and energy theft. According to Fadebiyi, amongst electricity consumers in the Lekki area,…
Except prompt actions are taken, the country’s power sector may soon grind to a halt. No thanks to the over N1t debt owed power generating companies popularly known as GENCOs, gas suppliers and the plunging electricity generation, which dropped from 5, 222.3megawatts (mw) attained earlier this year, to 3, 689.39mw as at Tuesday, July 3,…
By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had…
By Nick Cunningham The U.S. government has continued its attempts to shut down Iran’s oil exports, and in recent days Iranian officials responded by threatening to block the Strait of Hormuz. Such an outcome is highly unlikely, but the war of words demonstrates how quickly the confrontation is escalating. Oil prices spiked in late June…
The Nigerian National Petroleum Corporation (NNPC) has vowed to remain globally competitive to ensure value addition to the nation’s hydrocarbon resources for the benefit of Nigerians and other stakeholders. NNPC Group Managing Director, Dr Maikanti Baru, disclosed this Thursday in Abuja while addressing the corporation’s staff via a mail broadcast to commemorate his two-year anniversary…
By Energy Worth Ibadan Electricity Distribution Company Limited, IBEDC, Monday got a temporary reprieve from the 21 days ultimate order given to it by the Nigerian Electricity Regulatory Commission, NERC within which to dissolve its present Board of Directors. Ruling in a case with suit no: FHC/ABJ/CS/665/18 between Ibadan Electricity Distribution Company Plc (IBEDC) &…
By Tsvetana Paraskova Oil prices dropped early on Friday as fears of the escalating U.S.-Chinese trade war and increased production by Saudi Arabia and Russia outweighed concerns over supply disruptions from Venezuela to Libya to looming sanctions on Iran. At 08:23 a.m. EDT today, WTI Crude was down 0.78 percent at $72.37, and Brent Crude…
