OPEC: Nigeria will not support additional oil supply – Kachikwu
The Minister of state for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Kachikwu made the country’s position known in an interview with journalists on Thursday ahead of the 174th Meetings of the OPEC Conference and the OPEC and non-OPEC…
Delay in FDPs approval and Nigeria’s quest for 40 billion reserves target
The Federal Government’s desire to grow Nigeria’s strategic oil reserves to about 40 billion barrels and daily crude oil production to four million barrels per day may suffer setback...
Eterna Plc’s operating revenue rises to N173bn
Despite the challenging downstream sector of the oil and gas industry, Eterna Plc’s consolidated operating revenue increased from N106.9 billion in 2016 to N173 billion in 2017, representing an increase of 61.8 per cent.
Stakeholders brainstorm, as EnergyNet holds 20th AEF in Mauritius June 19
An international group that organises investment meetings on power generation, EnergyNet Limited, has announced that its 20th anniversary of the Africa Energy Forum (AEF) will hold between 19 and 22 June, 2018 at the Paradis & Dinarobin Beachcomber Hotels, Mauritius. The forum will be hosted in Africa for the first time to celebrate the achievements…
Electricity generation to national grid drops by 1,087.6mw, says TCN
The Transmission Company of Nigeria (TCN) says there has been a drop in the electricity generated into the national grid by 1,087.6 megawatts (mw). According to a statement by TCN’s General Manager, Public Affairs, Mrs. Ndidi Mbah, in Abuja yesterday, the drop in electricity generated into the national grid was resulting in load shedding nationwide.…
Electricity generation to national grid drops by 1,087.6MW-TCN
The Transmission Company of Nigeria (TCN)says there has been a drop in the electricity generated into the national grid by a total of 1,087.6Mega Watts of Power.
More hurdles to attaining regular electricity supply in Nigeria
Nigeria has about 11,165 Mega Watts (MW) of electricity generating capacity, out of which only about 25 per cent is available and operational due to gas constraints.Again, about seven per cent of the generated electricity is lost across the transmission network.
Nigeria’s energy import hits N861.67 billion in first quarter 2018
The Nigeria’s oil, gas, solid minerals and energy sectors recorded over N861.67 billion worth of products importation during the first quarter of 2018, according to the latest foreign trade statistics from the National Bureau of Statistics.
FBNQuest ‘The New African Horizon’ at the 2018 oil and gas Africa assembly
“Financing oil and gas in a cyclical industry means that a long term view on the underlying growth prospects of the recipient or project is necessary. Risk mitigation is about understanding the bankability of the project as much as it is about appetite”, stated Rolake Akinkugbe-Filani, Head of Energy and Natural Resources at FBNQuest Merchant…
Ezekwesili, ex-DRP boss seek legal status for Excess Crude Account
Former Minister of Education, Mrs Obiageli Ezekwesili and former Director of Department of Petroleum Resources, Olsten Olorunsola have urged the National Assembly to legalise the Excess Crude Account to prevent wastage of oil earnings.