By Nick Cunningham Brent is nearing $80 per barrel and some analyst see $100 not far off. That raises the question about how much of a dent high oil prices will make in the U.S. economy. $100 oil is not as painful as it once was. There are a few reasons for that. The U.S….
The Nigerian National Petroleum Corporation has announced that it has increased the supply of gas to the power sector by 88.89 per cent. According to the oil firm, the increase was recorded between January 2017 and January 2018. The NNPC disclosed this in its monthly financial and operations report for January 2018, which was released…
By Energy Worth Shell Nigeria Exploration and Production Company on Sunday, said it had delivered a total of 763 million barrels of oil from the Bonga field between first production in 2005 and 2017. SNEPCo, according to a statement, is also expanding the field with further drilling of wells in Bonga phases 2 and 3…
Sixteen of the nation’s 27 power plants have seen their generation capacities limited by gas constraint and frequency management occasioned by distribution companies’ load demand. A total of 2,313 megawatts of power were left unused as of May 8, with 1,935MW due to gas constraint and 1,378.3MW due to frequency management, data from the Federal…
Lagos State Governor, Mr Akinwunmi Ambode, has asked the World Bank to partner with the state government in funding key projects in transportation, energy and water sector. Governor Ambode stated that such partnership will positively impact the economy not the state alone but the country as a whole. He made this known on Thursday during…
By Tsvetana Paraskova Oil, natural gas, and coal may still be the dominant fuel sources in the world’s energy mix, but renewable energy is growing and creating more and more jobs worldwide. In 2017, employment in renewable energy globally topped 10 million jobs for the first time ever, the International Renewable Energy Agency (IRENA) said…
By Nick Cunningham The path to higher oil prices seems pretty clear, but it isn’t inevitable. There are plenty of reasons why the oil market is suddenly on edge, and why oil prices are at their highest level since 2014. Venezuela’s oil production is falling off of a cliff, and could fall faster now that…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has disclosed that the nation recorded 194 cases of pipeline vandalism between January 2017 and the corresponding period of this year.During the release of its January financial and operational report yesterday in Abuja, the agency noted that gas supply to the power sector during the period…
Thirty eight ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin Can Island Ports in Lagos from May 11 to May 26. The Nigerian Ports Authority (NPA) stated this in its publication, `Shipping Position,’ a copy of which was made available to the News Agency of Nigeria…
By Energy Worth A conference aimed to address the key issues affecting the energy sector in Nigeria and also proffer solutions to them has received the full backing of one of the key players in the sector, Sahara Power Group, a subsidiary of Sahara Group, a leading international energy conglomerate in Africa. Tagged the Light…
