Reforming the industry, transforming the benefits
There are certain grey areas in the management of Nigeria’s oil and gas industry that has hitherto been overlooked over the years either due to our military mentality, inclement operating environment, fiscal indiscipline, impunity, ignorance or all of the above. With the crash in accruable revenues from the country’s major revenue base and an attendant…
Curtailing deaths through electrocution in Nigeria
Electrocution is basically death caused by an electric shock. While this is not a favoured topic, it is important to expose the facts about the Nigerian Power System and the high potential that it possesses to cause more deaths due to electrocution in the short to medium term if things are done improperly as they are now.
Global solar photovoltaic manufacturing production slows
Growth in solar photovoltaic (PV) module production has slowed in recent years to four per cent yearly from 2011 to 2013 after increasing by an average of 78 per cent from 2006 to 2011.
NERC re-focuses on regulatory enforcements
The Nigerian Electricity Regulatory Commission (NERC) is re-focussing its attention on regulatory enforcements with the inauguration of enforcement task team.
Goldman trims 2016 West Texas price forecast to $45 a barrel
The global surplus of oil is even bigger than Goldman Sachs Group Inc. thought and that could drive prices as low as $20 a barrel.
AfDB pushes for new deal to solve energy crisis in Africa
African Development Bank has unveiled plan to launch a transformative partnership for energy in Africa, in cooperation with all stakeholders.
Number of Nigeria’s gas-powered vehicles hit 5000
The growing number of vehicles running on Compressed Natural Gas (CNG) has raised optimism about gas utilisation in the country, as the Nigerian Independent Petroleum Company (NIPCO) Plc, disclosed that over 5000 vehicles are currently in that category. The indigenous oil and gas marketing firm, which is among the few firms championing the CNG projects…
Power supply drops to 3,843mw
Nigeria’s power supply has dropped from the 4,131.71 mega watts (mw) it recorded as at August 26 to 3,843.99mw on Monday this week. The Presidential Taskforce on Power (PTFP), which made this disclosure on Sunday in its power generation report, stated that power generation has also declined from 4,810.70mw to 4,480.80mw. It disclosed that the…
Nigeria’s crude oil price declines by 0.84 per cent
Price of Nigeria’s Light Sweet Crude Oil futures has dropped from $45.17 to $45,08 as at Monday due to weakened Chinese equities and global oversupply . This represents 0.84 per cent decline. Besides, North Sea and Nigeria will ship the most crude in more than three years in October, adding to downward pressure on oil…