The Nigerian National Petroleum Corporation (NNPC) is eyeing massive investments in the nation’s Oil and Gas Industry with a view to improving the nation’s revenue and creating jobs for the citizenry. Group Managing Director of the corporation, Dr. Maikanti Baru, who was represented at the occasion by NNPC Kaduna Zonal Manager, Alh. Aliyu Ja’afaru, disclosed this…
Power generation in Nigeria increased by 1,100 megawatts in four days despite last Thursday’s fire incident that affected the Escravos-Lagos Pipeline supplying gas to some power plants.While the nation’s current transmission capacity was put at 7,000MW, network operational capacity stood at 5,500MW.Total electricity generation stood at 4,327MW as of 6am last Thursday, January 11, compared…
In West Africa, Sierra Leone ended off 2017 on a high note as the Ministry of Energy inaugurated the Solar Park Freetown clean energy project. The President of Sierra Leone, Dr. Enest Bai Koroma, launched the landmark 6MW Solar Park Freetown Project together with the former minister of foreign Affairs, Dr. Samura Kamara and minister…
By Energy Worth The Independent Petroleum Marketers Association of Nigeria (IPMAN) and Depot and Petroleum Products Marketers Association (DAPPMA) have called for the total deregulation of the downstream sub-sector of the country’s oil and gas industry.The marketers under the aegis of IPMAN and DAPPMA told journalists yesterday in Lagos that this was against the backdrop…
BBOXX, has launched large pay-as-you-go (PAYG) solar systems in the Democratic Republic of Congo (DRC). BBOXX is a provider of affordable, clean energy to off-grid communities.The collaboration is expected to meet the electricity demand for the people of DRC. This is through a technical collaboration with Victron Energy, manufacturer of components for solar energy systems….
America’s trade imbalance just got a bit smaller. The U.S. has now become a net exporter of natural gas on an annual basis for the first time since at least 1957. Net exports averaged about 0.4 Bcfd last year, flipping from net inflows of 1.8 billion in 2016, according to Victoria Zaretskaya, a Washington-based analyst…
Crude oil prices hit new multi-year highs yesterday as production cuts led by the Organisation of Petroleum Exporting Countries (OPEC) and healthy demand helped to balance the market, but analysts warned of possible overheating.uters reported that a broad, global market rally, including stocks, has also been fuelling investment in crude oil futures.U.S. West Texas Intermediate…
A key OPEC minister has warned that the group risks overheating the oil market as crude prices head toward $70/bbl.“Members of the Organization of Petroleum Exporting Countries are not keen on increased Brent crude prices above $60/bbl because of shale oil,” Iran Oil Minister Bijan Namdar Zanganeh said, according to the ministry’s news service Shana….
The Board of Directors of Total met on December 12, 2017, and declared a 2017 second interim dividend of €0.62 per share and offered, under the conditions set by the fourth resolution at the Combined Shareholders’ Meeting of May 26, 2017, the option for shareholders to receive the 2017 second interim dividend in cash or…
The Escravos-Lagos Pipeline (ELP) which came down last week as a result of a fire incident has been restored and gas supply to customers on the line including power generating companies resumed.The Nigerian National Petroleum Corporation (NNPC) which disclosed this Monday said the repair work on the pipeline followed the directive by the Group Managing…
