By Vanand Meliksetian The Netherlands has been the source of cheap energy for northwest Europe for the past decades. The discovery of the Groningen gas field, the 9th largest in the world, provided a reliable source of energy in a period when the oil market was rocked by embargos due to the Yom Kippur War…
By Energy Worth Speaker of the House of Representatives, Hon. Yakubu Dogara, has expressed the lawmakers’ determination to uncover all alleged frauds in the application of N10.08 trillion (about $30 billion) by the Niger Delta Power Holding Company (NDPHC). Speaking at the opening of a public hearing by the House’s ad-hoc committee on alleged “Constitutional…
Africa’s largest and most experienced infrastructure-focused private equity fund manager and a member of Old Mutual Alternative Investments, African Infrastructure Investment Managers (AIIM), has announced its acquisition, through African Infrastructure Investment Fund 3 (AIIF3), of a 50% stake in Société d’Exploitation et de Gestion Aéroportuaires (SEGAP), a holding company with an established portfolio of airport…
The elixir Nigeria needs to continuously grow her economy is electricity, which has impeded the growth of other sectors. Former Minister of Power, Professor Barth Nnaji, in this interview with Adeola Yusuf, expresses frustration over neglect of the power super grid scheme approved by the Federal Executive Council (FEC) six years ago. He also laid…
By Energy Worth The Minister of state for Petroleum Resources, Dr Ibe Kachikwu has disclosed that the Federal Government is making effort to ensure that cost of crude production is reduced to 23 dollars per barrel from about 35 dollars. Kachikwu disclosed this at the on going Nigerian Oil and Gas conference and Exhibition on…
Secretary-General, Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammed Barkindo, has said that Nigeria has assumed a strong, proactive role in the oil industry globally. Barkindo said this while delivering a keynote address at the 17th edition of the annual “Nigeria Oil and Gas Strategic Conference and International Exhibition’’ in Abuja on Tuesday. The News…
By Energy Worth Nigerian Content Development Management Board, NCDMB, on Monday, stated that it would not be deterred by the antics of oil and gas companies trying to sabotage local content initiative of the Federal Government. Speaking at the ongoing Nigerian Oil and Gas Conference and Exhibition in Abuja, Executive Secretary of NCDMB, Mr. Simbi…
Financial auditors engaged by some of the electricity Distribution Companies (DisCos) such as PriceWaterhouseCoopers (PWC) and Deinde Odusanya and Co have expressed uncertainty over the continued existence of the companies as they declared huge operation losses in two consecutive years ended December 31, 2015 and 2016 respectively. In their separate submissions to the companies, copies…
By Energy Worth The Economic Community of West African States (ECOWAS) has inaugurated its Regional Electricity Market to address power challenges and fast track efficient cross-border electricity trade among member states. President of Benin, Mr. Patrice Talon, represented by the Senior Minister of Planning and Development, Mr. Abdulahi Tchiane, officially inaugurated the project. He said…
By Tsvetana Paraskova Islamic State was selling oil and gas to the Syrian regime and to Turkey, while the militants were ruling over large areas in Syria and Iraq over the past three years, a senior ISIS commander said in an interview with the Kurdistan 24 news outlet on Sunday. “Oil and gas obtained by…
