Minister of State for Mines and Steel Development, Abubakar Bawa Bwari has said the Federal Government in its determination to boost the country’s economy invested in solid minerals to save the sector from collapse. He said this yesterday while receiving a team of bitumen investors from the United Kingdom (UK), led by Chief Executive Officer…
The US Energy Information Administration on Wednesday boosted its Brent and WTI crude oil price forecasts on uncertainty over the impact of the looming re-imposition of US sanctions on Iranian crude exports. In its Short-Term Energy Outlook, EIA forecast Brent to average $74.43/b in 2018, up $1.59 from last month’s forecast, and WTI at $69.56/b…
The Presidential Committee on Revenue Mobilisation may have jettisoned the revenue reporting and remittances template of the Nigerian National Petroleum Corporation, NNPC, with a new template now underway. A hint on this was given by the Finance Minister, Hajiya Zainab Ahmed, while addressing the media at the concluding sessions of the Annual Meetings of the…
GE Power scope of work at Medupi includes six turbine islands, air cooled condensers and overall project and construction management JOHANNESBURG, South Africa, October 10, 2018/ — Marks the fifth Medupi unit to come into service, increasing plant capacity to 4,000 MW – enough power for nearly three million South African households; GE Power scope of…
Strong and coherent energy policies that successfully integrate the three dimensions of sustainability, equity, and security of supply which constitute the Energy Trilemma are not just the preserve of rich countries, a report by the World Energy Council, WEC has disclosed. The report which was launched today at the World Energy Week taking place in Milan disclosed that strong…
The price of OPEC basket of fifteen crudes stood at $83.17 a barrel on Tuesday, compared with $81.88 the previous day, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Djeno (Congo), Oriente (Ecuador), Zafiro (Equatorial Guinea), Rabi Light (Gabon), Iran Heavy (Islamic…
*GE Power scope of work at Medupi includes six turbine islands, air-cooled condensers, and overall project and construction management *Marks the fifth Medupi unit to come into service, increasing plant capacity to 4,000 MW – enough power for nearly three million South African households; *GE Power scope of work at Medupi includes six turbine islands,…
Stakeholders in Ogoni have said that the announcement by Federal Government that the sum of $177million has been raised for the clean up of Ogoni, is a political gimmick and part of elections campaign strategy of the President Muhammadu Buhari led administration. Recall that the Minister of State for Environment, Ibrahim Jibril, had on Monday…
The Nigerian National Petroleum Corporation, NNPC, in its newly-released performance report for June 2018, said a total of 744 million standard cubic feet of gas per day, mmscf/d, was delivered to gas-fired power plants in the month. The 744mmscf/d of gas was utilised in the generation of about 2,970MW of power compared with that of…
Nearly 40 percent of daily crude oil production and more than one-third of natural gas output was lost from offshore U.S. Gulf of Mexico wells on Wednesday because of platform evacuations and shut-ins ahead of Hurricane Michael. Michael intensified to a Category 4 storm and is expected to hit the Florida Panhandle later Wednesday with…
