Oil magnate, Femi Otedola has invested $350 million in a power generation company known as Geregu Power Plc. Otedola acquired the company in 2013 through a subsidiary of Forte Oil Plc, Amperion Power Distribution Company Limited. Otedola recently revealed his $350 million investment in the power generation company days after joining Twitter. The investment is…
By Energy Worth The Eko Electricity Distribution Company (EKEDC) on Wednesday, decried the spate of violent attacks on its workers while on lawful duties. EKEDC’s General Manager, Corporate Communications, Mr Godwin Idemudia, in a statement issued in Lagos, said their workers had been attacked by people claiming to be protesting against epileptic power supply. He…
Nuclear energy development has been proffered as a sustainable and eco-friendly solution to Nigeria’s perennial electricity shortfall. ROSATOM, Russia’s state owned nuclear energy corporation, which is also the global leader in nuclear power plant services – made this known in a statement sent to journalists on Wednesday, May 16. The federal government of Nigeria, last…
Energy Worth with Agency Report Some of the world’s biggest fund managers are ratcheting up the pressure on oil and gas companies, expressing fear that a lack of action over tackling climate change could risk their investments. The comments come days before major oil companies kick off annual shareholder meetings, where they are already facing…
Energy Worth with Agency Report Some financial experts on Friday, faulted the increase in the oil benchmark of the 2018 appropriation bill from 45 dollars to 51 dollars by the Senate. The financial experts told the News Agency of Nigeria (NAN) in Lagos that the increment was not needful, while reacting to the appropriation bill…
President of the Nigeria Atomic Energy Commission (Nigatom) and, chairman and Chief Executive Officer of the Nigeria Energy Commission, Simon Pesco Mallam in this interview with TOBI AWODIPE, talks about the need for the country to embrace nuclear energy, the advantages that can be derived and its lofty goals of achieving nuclear sovereignty by mid…
On the 12th of March, the National Electricity Regulatory Commission (NERC) announced a new policy under the Electric Power Sector Reform Act (EPSRA) of 2005. Known as the 2018 Meter Asset Providers (MAPs) policy, it was designed to deregulate the provision pre-paid meter. In essence, electricity distribution companies (Discos) have to outsource the acquisitions and…
By Energy Worth Failure by the President Muhammadu Buhari-led administration to reform the oil and gas sector has pushed the Nigerian National Petroleum Corporation (NNPC)’s revenue loss to over N546 billion. The trend does not only represent the loss of potential revenue for government but also constitutes a major challenge for the 2018 budget expectations…
By Tsvetana Paraskova WTI Crude prices have recently surged to their highest level in three and a half years—just above $70 a barrel. In theory, that’s higher than the average breakeven costs of all key U.S. shale plays. Even $60 WTI is higher than the average breakeven prices, as per the latest quarterly Dallas Fed…
Seydou Kane is Managing Director, Africa for Eaton’s Electrical Sector. He is responsible for leading Eaton’s Electrical Sector team in Africa and driving Eaton’s ambitious growth strategy for Africa. Seydou has over 15 years’ experience in management, sales and strategic marketing in four continents. He holds Master’s of Business Administration from IMD Business School, Switzerland…
