By Julianne Geiger With Brent Crude falling from its $80 height of last week, the American Petroleum Institute (API) reported a build of 1.001 million barrels of United States crude oil inventories for the week ending May 25, compared to analyst expectations that this week would see a build in crude oil inventories of 2.214…
By Irina Slav A natural harbor to the northwest of Cape Town keeps a secret that oil tracking professionals are still trying to uncover. The secret is exactly how much oil is in storage at any given moment at the Saldanha Bay array of tanks that can hold up to 45 million barrels. The reason…
Determined to achieve the clean-up of Ogoniland, the Hydrocarbon Pollution Remediation Project, in collaboration with the Niger Delta Development Commission, has trained 35 technical assistants. The technical assistants, according to HYPREP, will monitor the clean-up of polluted sites in Ogoniland. HYPREP’s Head of Communications, Mr. Isa Wasa, said in Goi, Gokana Local Government Area of…
Energy Worth with Agency Report THE electricity sector has recorded losses amounting to N187 billion as a result of inadequate gas, poor distribution and transmission as well as water reserves constraints. Minister of Power, Works and Housing, Mr Babatunde Fashola The losses recorded between December, 2017 and May, 2018 has affected the generation, transmission and…
By Energy Worth The international oil benchmark, Brent crude, on Tuesday continued its biggest losing streak since February, falling below $75 per barrel. The downturn in oil prices came on the heels of worries that Saudi Arabia and Russia could pump more crude to compensate for a potential supply shortfall, with hedge funds reducing bullish…
By Energy Worth The practice of blame games between key operators in Nigeria’s power sector have continued unabated with the Transmission Company of Nigeria (TCN) stating on Tuesday, in Abuja that most power generation companies (Gencos) in the sector lie about the capacities of their plants so they can make financial claims on capacity charges….
THE restoration of electricity in the early hours of Monday threw a man suspected to be in his late 30s off a high tension pole in his failed attempt to commit suicide. The unidentified man had climbed the high tension pole close to Jevinik Restaurant in New GRA, Port Harcourt at about 11pm on Sunday,…
By Tsvetana Paraskova Following disruptions of the oil flows on the pipeline feeding the Forcados terminal in Nigeria, the facility faces more than two weeks of delays of oil cargo loadings, and no official June or July loading schedules have been released yet, trading sources told Platts on Tuesday. The flow of crude oil to…
Kano state Governor, Dr Abdullahi Umar Ganduje has said that the Kano Independent Power Project (IPP) will be commission in October this year. Addressing press men on Monday as part of his 3rd anniversary, Ganduje also said an over N1bn contract had been awarded for the construction of transmission plant for onward distribution of the…
Energy Worth with Agency Report Many Nigerians are reporting less use of generators due to improved power supply, President Muhammadu Buhari said on Tuesday. The president spoke in his broadcast to Nigerians to mark this year’s Democracy Day. “In the area of power generation, Nigerians from all parts of the country continue to report better…
