‘LED bulb cannot save 1,200MW of electricity’
The minister recently called for ledification of homes and streets. Do you think that is what the country needs right now? LED bulbs can be utilized in Nigeria in view of their advantage over the popular incandescent bulbs presently in use in Nigeria. Because LEDs are made from a solid material, they are much more durable than incandescent bulbs. Dropping or bashing an LED by accident is not as big a risk as it is with an incandescent light which will smash, rendering it inoperable and dangerous due to broken glass.
Crude oil production to rise by less than 0.1mbpd in 2015
OPEC non-crude liquids production, which averaged 6.4 million bpd in 2014, is expected to increase by less than 0.1 million bpd in both 2015 and 2016, led by increases in Qatar and Kuwait.
Shell reviews onshore gas projects
THERE are indications that the Shell Petroleum Development Company (SPDC) has begun the processes of reviewing some large gas projects onshore Nigeria.
How merger, acquisition options strengthen Nigerian content in oil, gas sector
BARELY five years after passing the Nigerian content bill into law, the indigenous oil and gas firms across the value chain may have exhibited strong commitment to the sector via several prevailing investment strategies.
Challenges before Buhari’s administration in petroleum industry
NIGERIA is the largest oil producer in Africa and is among the world’s top five exporters of LNG. Despite the relatively large volume of crude oil reserves, the country’s oil production is hampered by instability and supply disruptions, while the natural gas sector is restricted by the lack of infrastructure to monetize natural gas that is currently flared (burned off).
Exploration, drilling activities in petroleum sector hit record low
This may be as a result of the non-passage of the Petroleum Industry Bill (PIB) and the uncertainty in the crude oil market. Specifically, as at November and December last year, only Shell Petroleum Development Company (SPDC) and Addax carried out exploration/drilling activities during the months under review.
Dwindling crude prices: Hard knocks on shale oil development
The global attention towards the development of shale oil may have continued to suffer setback, as the hope of nations on the assessed world energy changer gets dimmer owing to sliding crude prices.
Hurdles to domestic gas sector’s liberaliation
The quest for optimal utilization of the nations abundant gas resources has continued to unravel the need for more investment and infrastructural facilities that would aid such national agenda.Nigeria’s natural gas reserves are recently estimated at about 187 trillion cubic feet. The gas reserves are three times as substantial as the crude oil reserves, which were put at 38 billion barrels.
NERC issues OMA power 1,080mw on grid licence for power generation
The Nigerian Electricity Regulatory Commission (NERC) has issued an on-grid 1,080 MW generation licence to Oma Power Generation Company Limited. The gas-fired power plant will be located at Orgwu-Ogwe, Ukwa West, in Abia state.
ExxonMobil invests $1 billion in local content development
Determined to grow local capacity in line with the local content agenda, ExxonMobil Nigeria Unlimited has awarded projects worth over $1 billion (about N198 billion) to Nigerian firms in the last few years
Julius Berger plans partnership to upgrade power supply
The Managing Director of Julius Berger Nigeria, who is also an Engineer, Detler Lubasch, said: “We are exploring of course in the power sector, which is the area we see the future. We also see the future in gas and oil. There is no doubt that gas and oil will be there in 20 years and longer but our core business is still building and road construction.”