The oil giant, Total, has acquired several assets located in the Gulf of Mexico as part of the Cobalt International Energy company’s bankruptcy auction sale. Total submitted offers on several assets for a consideration of approximately 300 million dollars and acquires from Cobalt: A 20% interest in the North Platte discovery. As a result, Total…
Oil advanced above $64 a barrel after Chinese President Xi Jinping’s speech raised hopes that U.S.-China trade tensions may ease, lifting risk assets around the world. Futures in New York erased earlier losses to rise as much as 1.5 percent as Xi vowed to open sectors from banking to auto manufacturing, increase imports and lower…
By Energy Worth The Federal Government has finally acknowledged Anambra as one of the oil producing states in the federation. National Chairman of Host Communities Producing Oil and Gas (HOSCON), Prince Mike Emuh, who disclosed this on Tuesday at the Anambra State Traditional Rulers’ House, Government House, Awka, while addressing traditional rulers in the…
By Energy Worth Minister of Power, Works and Housing, Mr Babatunde Fashola has disclosed the boosting of Umuahia Sub-station with 7, 000 megawatts. He said the expansion of the sub station with 40MVA transformer, has increased its transmission capacity from 80MVA to 120MVA. In a statement yesterday in Abuja, Fashola said the Federal Government was…
A Chinese company holding the largest stake in Santos has disclosed that it will “cautiously consider” a $10.3-billion takeover approach from U.S. suitor Harbour Energy for the Australian liquefied natural gas exporter. A unit of gas distributor ENN Group, which owns 10.1% of Santos, will hold initial talks with Harbour with the aim of maximizing…
No question, oil above $60/bbl is a big help to North American energy companies. But even with prices up about 20% from a year ago, not everyone will get big boosts in their credit lines during the appraisal season that’s now kicking into high gear. Analysts expect oil and gas companies in the Permian Basin…
“The grid”. For decades, it has conjured visions of huge centralized fossil fuel power plants, and thousands of kilometers of criss-crossing transmission lines. But a revolution in distributed renewable energy in the past 10 years is ointing Africa on a different path — one that has not only resulted in the recent surge of more…
The Executive Director of the International Energy Agency, Dr Fatih Birol, accompanied by a delegation of senior IEA officials, visited the headquarters of the Organization of the Petroleum Exporting Countries (OPEC) in Vienna today, and met with its Secretary General, Mohammad Sanusi Barkindo. Dr Birol and Mr Barkindo underscored the growing working relationship between both organizations…
By Energy Worth The Nigerian National Petroleum Corporation (NNPC) has disclosed that it has completed outstanding audit of the Group Financial Statements from the years 2011 to 2016. The audited backlog has since been formally approved by the Board of the corporation in line with extant laws governing the operations of the national oil company….
By Energy Worth Communities in Ikot Okoro, Essien Udim, Ikot Ekpene Local Government Areas of Akwa Ibom State would soon be connected directly to the national grid, from the 330kv Ikot Ekpene Transmission Switching Station as effort is being intensified to construct a 2X150MVA and 2X60MVA 132/33KV Transmission Substation within the premises by the Niger…
