FG loses N65.4b in revenue as average energy hits 3,464MW in October
Although there were no reports of grid collapse last month, power generation from the nation’s generating companies dropped to an average of 3,464MW in October from a monthly average of 3,473MW in the month of September, latest data from the office of the Vice President has shown.
OPEC downgrades forecast for global oil demand growth
The Organization of the Petroleum Exporting Countries (OPEC) has downwardly revised its forecast for global oil demand growth over both the medium-term and long-term, citing tough market conditions and “signs of stress” in the world economy.
‘Advent of electric car not a threat to new refineries’
It is a cause for concern, generally in the world, especially in the oil and gas sector, but hydrocarbons are quite abundant in our region and we have not advanced to the extent at which we can totally rely on electric for cars or electric cars.
‘Poor power supply will linger till value chain operations, local content Act are addressed’
The power sector is faced with lots of various challenges, that have to do with lack of ownership of the entire power sector value chain. In taking ownership, somebody must define a proper roadmap.
How use of steel drums can aid safety, cost-saving in oil sector
Operators in the oil and gas industry value-chain have advocated increased adoption of steel drums as a safe means on storing low viscosity fluids and other hazardous chemicals used in the sector.
DisCos seek energy mix to address power challenges
Addressing Nigeria’s electricity gap may remain elusive unless the country focuses on energy mix, particularly through evolving technologies...
Operators task truck drivers on safe fuel distribution practice
Operators in the downstream sector of the oil and gas industry have tasked truck drivers on the need to embrace safe practices in the distribution of fuel, especially in the yuletide season.
DisCos require N8.7 billion to bridge NERC remittance order
Electricity Distribution Companies (DisCos), yesterday, said about N8.7 billion will be required yearly to comply with the remittance order set by the Nigerian Electricity Regulatory Commission (NERC). Calling the National Assembly to intervene in the current liquidity crisis in the power sector, Executive Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED), Sunday Oduntan,…