Energy

THE imperativeness of adequate power supply for any nation’s growth and development cannot be overstated, as electricity remains the major driver for effective sctoral operations. The need for diversified sources of power supply has naturally become a germane issue, with the nation now planning to opt out of monocultural profile.

SHELL’s announcement that it would be scaling back its shale gas exploration has been described as a blow to the South African government, which has punted shale gas as a “game changer” for the economy.

The Independent Petroleum Marketers Association of Nigeria (IPMAN) has assured Nigerians of effective distribution of petroleum products during and after the general elections across the hinterland of the country.  

The estimate for world oil demand growth in 2014 remains broadly in line with the previous report at 0.96 mbpd. For 2015, global oil demand growth is expected to average 1.17 mbpd, relatively unchanged from the previous month. Almost half of 2015 oil demand growth is projected to come from China and the Middle East.

Besides, the utility firms are worried about the increasing debt profile which is mostly traced to government agencies: the army, police, ministries and parastatals and para-military forces, which the Discos claim

In fact, the Budget Director General revealed that in the 2015 plan, non-oil revenue was for the first time projected to be higher slightly than oil mineral revenue, which makes the plan a non-oil economy Budget.

Electricity consumers may have to wait till the end of 2018 for their homes to be metered as the National Electricity Regulatory Commission (NERC) has said it might not sanction distribution companies for not providing their customers with prepaid meters until the end of the five-year agreement they signed with the government to make the…

“In the last few days the country has been experiencing shortages of fuel, particularly petrol but we have enough stocks to meet demand,” Yaluma said.

THERE are indications that the nation’s oil and gas market would bounce back in the next four years, as a recent report by an international agency predicts a significant growth in the market value to about $7.5 billion by 2019.   The new market research report released at the weekend stated that the market values…

THE Federal Government has signed a Memorandum of Understanding (MoU) with TBEA Co Ltd of China to fast track the development of transmission lines and substations in Nigeria.    This was done with the understanding that power transmission infrastructure is critical to the continued growth of the sector.   Represented by the Minister of State…

…OPEC predicts 3.89mbpd consumption level THE expected growth in the economies of the African nations would drastically shoot up oil demand by about 2.47 per cent to 3.89 million barrels per day (mbpd), according to the Organisation of Petroleum Exporting Countries (OPEC).   The cartel, in its latest edition of its Monthly Oil Market Report,…

APPARENTLY not satisfied with the current level of electricity supply to its network, the Eko Electricity Distribution Company (EKEDC), has blamed the situation on low energy allocation from the national grid.    The company, in a statement recently, noted that the company would continue to invest massively to upgrade its facility in other to meet…