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Showing posts from February, 2018

OPEC holds 7th International Seminar in Vienna June 20

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The Organization of the Petroleum Exporting Countries (OPEC) will host the 7thOPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 20−21 June 2018 under the theme, ‘Petroleum – cooperation for a sustainable future’.
The Seminar will provide fresh impetus to key petroleum industry issues and challenges, helping to enhance existing avenues of dialogue and cooperation, while stimulating new ones.  The Seminar will feature presentations by officials from energy and oil ministries, executives from oil companies and financial firms, and other representatives from international organizations and research institutions.

The 2018 OPEC International Seminar will seek to reinforce OPEC’s longstanding commitment to strive towards a secure and stable market in support of a healthy global economy.  It will also highlight the need for continuing promotion of cooperation and dialogue with all oil industry stakeholders, including producers and consumers.

Some of the topics to b…

TCN records national grid transmission capacity of 7,124 MW -Official

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The Transmission Company of Nigeria (TCN) has announced that it has attained the wheeling capacity of 7,124 Mega Watts (MW) transmission capacity of electricity to the Distribution Companies. The Information is part of the communiqué issued in Abuja on Monday, at the end of the 24th monthly meeting of the Minister of Power, Works and Housing, Mr Babatunde Fashola with operators of the Power Sector.According to the communique, obtained by the Power Sector News, TCN also announced plans to expand its transmission lines through its Transmission Rehabilitation and Expansion Programme in line with its 20 Year Transmission Expansion Plan.The communiqué reiterated Federal Government’s commitment to improve electricity service delivery through development of policy initiatives like the N701 billion Payment Assurance Guarantee to generating companies.Other policies of government designed to improve services in the sector include the eligible customer regulations, metering regulations and distri…

OPEC president says shale surge won't thwart plan to clear glut

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Surging output of U.S. shale oil won’t be a “huge distorter” of efforts by global crude producers to clear a glut, according to OPEC’s president.The market should re-balance this year, given robust demand and producers’ compliance with their pledges to curtail supply, United Arab Emirates Energy Minister Suhail Al Mazrouei, currently the president of OPEC, said on Monday in an interview in Dubai. 

Also, his Kuwaiti counterpart, Bakheet Al-Rashidi, said he sees world oil consumption growing by 1.6 MMbpd in 2018 and absorbing additional output from U.S. shale deposits.“Shale is coming and the expectation is that it will come stronger than in 2017, and this is something that we have to watch,” Al Mazrouei said. “But considering all factors, I don’t think it will be a huge distorter of the market.”Oil is rebounding from its biggest weekly decline in two years, though gains are limited due to concerns over a resurgence in U.S. shale. The U.S. oil rig count rose last week by 26, the most in …

EEDC denies manipulating prepaid meters for increased profit

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By Energy Worth with Agency Report
The management of Enugu Electricity Distribution Company (EEDC) has denied allegations by consumers that it had manipulated the factory settings of the new prepaid meters for more profit. Its Head of Communications Dept., Mr Emeka Ezeh, made the denial in an interview with the News Agency of Nigeria (NAN), on Monday, in Aba.Ezeh said that the company did not have the technical capacity to reset such meters.“This is not true, none of our staff has the expertise to reset or work on the meters because they are hybrid meters and smart in nature…except if the fellow is ready to damage the meter.Related Story:Sokoto Govt to create Ministry of Energy in 2018 “The meters are approved and certified by Nigerian Electricity Management Services Agency (NEMSA). the regulatory agency responsible for certifying meters before they are brought into the country and installed for consumers.“It is also possible that there is a deliberate ploy by the company workers to disc…

Kaduna Electric boosts power supply in CCNN

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The Kaduna Electricity Distribution Company has dedicated an 30/40 MVA power transformer feeeder to Cement Company of Northern Nigeria (CCNN) in a bid to improve power supply. According to the Power Sector News, the Distributions Engineer, Sokoto Area Office, Engr. Usman Abba, made this known in an interview in Sokoto.He said though the transformer had been in existence, the Kaduna Electric only separated it from the township feeder to ensure constant power to the cement company.“I can confidently tell you that with the separation of the transformer from the township feeder, CCNN will now get constant power supply without any hitches.“In fact, the feeder was energised yesterday and now is under observation and already picking load gradually,”he said.He said this was in addition to other facilities provided by the company which included Breaker, CTS, VTS, poles, among others to ensure separation of the transformer from the township feeder.He noted that in the past, the Cement Company wa…

NNPC set to recover N100bn landed property

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The NNPC Properties Ltd (NPL), the real estate management company of the NNPC, has commenced the recovery of the corporation’s landed property worth N100b across the nation.This was disclosed by the NNPC Chief Operating Officer (COO) Ventures, Dr. Babatunde Victor Adeniran, at the maiden edition of NPL Property Festival which held today at the NNPC Towers, Abuja.Dr. Adeniran stressed that the focus of the NNPC Properties Ltd had shifted from the initial lease administration of collecting rents from tenants of the NNPC Properties to ‘’exploring all commercial opportunities available in the real estate market to efficiently position itself as one of the key players of repute that fits the NNPC brand’’.According to him, the current aggressive commercial drive by the NPL was yielding results as the company had recovered a number of the corporation’s landed property which had been lying idle across the country.He listed some of the recovered property to include: a 92-hectre parcel of land …

For the record: We will soon meet Nigerians' electricity needs -Fashola

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Speech delivered by the Minister of Works, Power and Housing, Mr. Babatunde Raji Fashola, during the inauguration of 100MVA, 132/33kv Transformer at Katampe Substation on Monday
*Minister of Power, Works and Housing, Mr Babatunde Fashola.


ProtocolTransmission Company of Nigeria (TCN) is responsible for conveying electricity from the Generation Companies (GenCos) who produce at power stations in various locations to over seven hundred trading points where the Distribution Companies (DisCos) receive it and distribute it to consumers nationwide. The GenCos can now produce 7,000 MW, with more capacity coming. This Administration’s focus on delivering Incremental Power requires that TCN build and maintain the capacity and operational flexibility to transmit more than the GenCos can produce, to ensure stable and reliable power delivery to the DisCos and other customers connected directly to the National Grid.As part of the program, another milestone has been achieved here in the capital city …

Dangote Refinery graduate engineers promise an end to fuel scarcity

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By Energy Worth



Returnee indigenous India trained Graduate engineers of the Dangote Refinery have promised to deploy the knowledge and skills acquired during the training to ensure Nigeria is saved the embarrassment of fuel scarcity when the refinery come on stream. 

The engineers who described their experience as second to none in the history of Nigeria oil and gas sector said never again would Nigeria experience fuel scarcity as the Dangote refinery would be operated in the most efficient manner.

Dangote Oil Refinery Company had in preparation for take off sent in batches local Graduate s engineers to Bharat Refinery in India, arguably the biggest in the world for training in refinery operation and production.

The nation is anxiously awaiting the Dangote refinery with a capacity to produce 650,000 bpd to commence operation as the country's four refinery have gone comatose.

Reliving their experience to the management of the copy on return one after another, at the Refinery premises at…

SON trains NEMSA on quality management system

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Cross - Session of NEMSA staff at the  Training on Quality Management System, organised by the Standard Organisation of Nigeria (SON).

The Standards Organization of Nigeria (SON), recently held a management briefing/training with NEMSA’s staff on Quality Management Systems in Nigeria at the NEMSA Headquarters in Abuja.The session was an introduction to the series of training exercises which NEMSA will undertake in its quest to establish an efficient quality management system towards ISO 9001:2015 certification for the Agency and International Accreditation for NEMSA’s National Meter Test Stations as well as the Engineering and Chemical Laboratories.

  TAG Oil updates Pukatea-1 exploration well  

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TAG Oil Ltd has announced to plans to update its Pukatea-1 exploration well, which was spudded on January 24, 2018. The Pukatea-1 well is located in TAG Oil's operated Puka permit (PEP 51135, 70% TAG Oil) in the Taranaki Basin of New Zealand.
Intermediate casing has been set and TAG Oil anticipates that it will take approximately seven to ten more days to reach the top of the primary deep Tikorangi Limestone formation target. The total current planned depth of the well is ~3,170m measured depth.Potential oil pay encountered in the Mt. Messenger FormationPukatea-1 has encountered potential oil pay in the well’s secondary Mt. Messenger target ~10.4m of true vertical thickness (~13.7m measured) gross sandstone within the shallower Mt. Messenger formation target at a depth of ~1,618m measured depth. Electric log data analysis indicates that there is at least one potentially oil-charged zone with movable hydrocarbons, excellent porosity and permeability. Maximum total gas reached 19.2%,…

Fuel scarcity: Petrol station manager arrested for products diversion

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By Energy Worth

A petrol station manager has been arrested by the Nigerian Security and Civil Defence Corps for diverting 26,000 litres of petrol from New Nyanya to another location in Akwanga, Nasarawa State.According to an official of the NSCDC, Yusuf O. Ayinde, a Chief Superintendent of the Corps, the manager with Lamido Petroleum, New Nyanya, Nasarawa State, Mr. Kasim Lamido, took delivery of 40,000 litres of petrol meant for his station but discharged only 13, 3000 litres, from one out of the three compartments in the truck and diverted the remaining 26,000litres to a station in Akwanga where it would be sold at a higher price.The suspect would be charged to court by the Civil Defence Corps after ongoing investigation.The latest arrest validates NNPC’s position that the activities of a potent petroleum products smuggling and diversion syndicate contributed immensely to the shortage being experienced in some cities and which posed a challenge to the efforts by the Corporation to sa…

Sosoliso crash survivor, Kechi Okwuchi visits SPDC

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From left, Managing Director, The Shell Petroleum Development Company of Nigeria Limited and Country Chair, Shell Companies in Nigeria, Osagie Okunbor and Kechi Okwuchi, survivor of the 2005 Sosoliso plane crash during a 'Thank You' visit to SPDC.

There were emotional scenes as Miss Kechi Okwuchi, a survivor of the 2005 Sosoliso plane crash that claimed many lives visited The Shell Petroleum Development Company of Nigeria Ltd (SPDC) recently to express gratitude for the medical and financial assistance the company rendered to her after the tragic incident.


Kechi, her father’s friend, Mazi Victor Okoronkwo and her aunty, Mrs. Uloma Umeano were received by Mr. Osagie Okunbor, Managing Director, SPDC and Country Chair, Shell Companies in Nigeria. Kechi, who was returning from school in Abuja to Port Harcourt, survived the crash but suffered third-degree burns. When her plight came to the notice of SPDC, the company promptly stepped in and ensured that she was air-lifted to South Af…

Adhere to safety rules and regulations, IBEDC urge customers

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THE management of Ibadan Electricity Distribution Company (IBEDC), has urged its customers tp adhere strictly to the safety rules and standards.

The head of Health, Safety and Environment, Mrs. Mariam Arowolo, in a statement made available to newsmen on Thursday, said that investigation has revealed that refusal to observe basic safety rules and procedures remains the greatest danger to IBEDC customers.“This is especially evident in the habit of people not giving right of way to electricity installations by carrying out commercial activities under high tension wires.

“Despite numerous efforts to convince people about the dangers of being close to high voltage equipment such as wires, poles and substations, people continue to sell and patronise traders under them. Unfortunately, these are accidents waiting to happen and it presents a nightmare for our safety officials as we care about our people and do not want them to get electrocuted through avoidable circumstances”.

The statement f…

Oil price at lowest in 2018, Nigeria's budget not in danger -Report

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By Energy Worth with Agency Report


Crude oil price headed toward its worst week in almost a year as the global risk-asset rout further rankled investors already concerned over growing U.S. output undermining Organization of Petroleum Exporting Countries, OPEC’s efforts to tighten markets and prop up prices, it has been reported.

Nigeria’s 2018 budget is based on $45 per barrel and 2.3 million daily oil output. However, US West Texas Intermediate, WTI, crude was at $61.58 a barrel and was down 21 cents, or 0.3 percent, from their last settlement.
Brent crude price was at $65.28 per barrel down 23 cents, or 0.4 percent, from the previous close.
However, with the drop in crude price at $65.28 per barrel, Nigeria’s is not yet at risk over the funding of its N8.612 trillion 2018 budget.
The dips followed bigger falls  on Wednesday, when crude touched one-month lows and erased most of 2018’s early gains.
Support  on Thudsday  came from the second outage in as many months on the 450,000 barrels pe…

GENCOS generated 94,627MWh in 2017 Q4 —NBS

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By Energy Worth

The National Bureau of Statistics (NBS) has disclosed that Generation companies (Gencos) generated 94,627 megawatts per hour (MWh) of energy daily in the fourth quarter of 2017.

According to the information posted on its website on Thursday, the report showed that daily energy generation attained a peak of 105,152 megawatts on December 8.The website was tagged:“Power Sector Report: Energy Generated and Sent Out and Consumed and Load Allocation for Fourth Quarter, 2017.’’

The report said the thermal stations generated 84,026 MWh while the hydro stations generated 21, 126 MWh out the total power generated.

The report, however, stated that the lowest daily energy generation was 73,246MWh and was attained on Oct. 18.

According to the report, on Oct. 18, thermal stations generated 55,941 MWh out of the 73,246MWh while the hydro stations generated the remaining 17,305 MWh.

It stated that metering data for all discos reflected that 3.45 million consumers, representing 46.16 per ce…

Fuel scarcity: NNPC allocates 2 cargoes per day for February

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In a bid to keep the country wet with petrol and eradicate the fuel queues that have resurfaced in some cities, the Nigerian National Petroleum Corporation (NNPC) has programmed to bring in two cargoes of petrol per day for the rest of February 2018 to boost supply.Each of the two cargoes is 50 million litres making a total of 100 million litres that will be brought in per day for the rest of February to increase supply and replenish strategic reserves.Also, to enhance supply, 45 million litres of petrol was discharged from ships into jetties across the country yesterday.Prior to the fresh 45 million litres discharge, there was 324 million litres of petrol on land and 432 million litres in marine storage making a total of 756 million litres, enough to last for 22 days at 35 million daily consumption rate.The jetties that received the 45 million litres shipments include Nacj, Apapa; Bop, Apapa; Techo Jetty, Lagos; Dutchess, Oghara; Vine Jetty, Calabar; Chipet Jetty, Lagos; and ECM Jett…

ExxonMobil adds 2.7bn barrels to reserve, replaces 183% of 2017 production

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Exxon Mobil Corporation has said that it added 2.7 billion oil-equivalent barrels of proved oil and gas reserves in 2017, replacing 183 percent of production. ExxonMobil's proved reserves totaled 21.2 billion oil-equivalent barrels at year-end 2017. Liquids represented 57 percent of the reserves, up from 53 percent in 2016. ExxonMobil’s reserves life at current production rates is 14 years.
“Our exploration success and strategic acquisitions made during a period of low commodity prices are adding high-quality resources that are among the lowest cost of supply in the industry,” said Darren W. Woods, chairman and chief executive officer. “ExxonMobil’s portfolio of development opportunities positions us to grow shareholder value as we bring on new supplies of oil and natural gas to meet growing demand.”During 2017, proved additions at Upper Zakum in Abu Dhabi totaled more than 800 million barrels of crude oil. Additions from liquids-rich unconventional plays in the United States, main…

Indian Oil tank with 22 crew missing off Benin Coast

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*The missing vessel.

By Energy Worth with Agency Report

India has sought the help of the Nigerian and Benin natives to find an oil tanker that has gone missing with 22 Indian crew members off Benin’s coast.
External Affairs Minister, Sushma Swaraj, confirmed this on Sunday that the tanker, Marine Express, went missing in the Gulf of Guinea.
It’s not known whether the ship was hijacked for ransom or to steal the nearly 13,500 tonnes (15,120 tons) of gasoline on board.
The ship, owned by a Mumbai company, has been missing since January 31 with no contact with the crew so far, according to Indian media reports.
In January, another oil tanker, MT Barret, went missing off the coast of the West African nation of Benin. That crew of 22, mostly Indians, was released within days after a ransom was paid to the pirates, the Press Trust of India news agency said. It didn’t give any details according to Bloomberg survey.
Ship hijackings and kidnappings of crew are common in the region, with hostages ofte…

Malabu Oil: ENI's lawyer, 14 others arrested for spying

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By Energy Worth with Agency Report

An Italian lawyer working for oil giant, Eni, Piero Amara, was arrested alongside 14 other people by Italian investigators over an intricate plan to spy and muddle a number of investigations undertaken including investigation into OPL 245, infamously known as the Malabu Oil scandal.
Last October, Italian prosecutors charged officials of Royal Dutch Shell, including Malcom Brinded, the second senior official of the oil firm in 2011 when the controversial $1.3 billion deal was struck. Prosecutors were also looking at filing charges against former Nigerian petroleum minister, Dan Etete; but the trial is yet to take off according to a report.
Amara is one of Italy’s most influential lawyers who is said to be close to top magistrates. He was arrested for allegedly setting up a fake investigation with the ploy of accessing and muddling confidential documents, in the office of Italy’s public prosecutor, relating to several investigations including that of OPL 24…

NNPC declares war on erring marketers, fuel hawkers

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Arrests 2 station managers, 6 black marketers














As part of efforts to sanitize the fuel supply and distribution system to eliminate the queues, the Nigerian National Petroleum Corporation (NNPC) has stepped up the arrest and prosecution of erring marketers and fuel hawkers across the country.
The NNPC Special Task Force on Filling Stations Monitoring has made a series of arrests including two filling station managers who diverted 66,000 litres of petrol and six illegal hawkers of petrol in Abuja.The two managers of Azman filling stations in Nyanya and Kuje, two suburbs of Abuja, were arrested after close monitoring by the team for diverting trucks of petrol meant for their stations to unknown destinations.They have been handed over to the Nigeria Security and Civil Defence Corps for prosecution.In addition to prosecution, the filling stations would pay a N250 fine for each litre of petrol diverted.The Task Force has also arrested six persons in the Central Business District, Abuja, for ha…

Indian Oil Tank with 22 crew missing off Benin Coast

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The missing ship.

By Energy Worth with Agency Report

India has sought the help of the Nigerian and Benin natives to find an oil tanker that has gone missing with 22 Indian crew members off Benin’s coast.
External Affairs Minister, Sushma Swaraj, confirmed this on Sunday that the tanker, Marine Express, went missing in the Gulf of Guinea.
It’s not known whether the ship was hijacked for ransom or to steal the nearly 13,500 tonnes (15,120 tons) of gasoline on board.
The ship, owned by a Mumbai company, has been missing since January 31 with no contact with the crew so far, according to Indian media reports.
In January, another oil tanker, MT Barret, went missing off the coast of the West African nation of Benin. That crew of 22, mostly Indians, was released within days after a ransom was paid to the pirates, the Press Trust of India news agency said. It didn’t give any details according to Bloomberg survey.
Ship hijackings and kidnappings of crew are common in the region, with hostages often r…

Azura Power Plant, sign of FG’s commitment to improve power generation, diversify economy –Fashola

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Azure Power Plant, Benin-City, Edo State.

The Minister of Power, Works and Housing, Mr. Babatunde Fashola, recently inspected the 450MW Azura Independent Power Plant in Benin, Edo State, describing the project as a proof of the Federal Government’s commitment to improving power generation and experience for the purpose of diversifying the nation’s economy.Fashola, who spoke while interacting with news men after the inspection of the Power Plant built by Azura Power, a private developer and financier of Independent Power Plants (IPPs) across Africa, said it was also a statement of “very clear intent” about the commitment by President Muhammadu Buhari to fulfill his promise of improving power generation.The Minister, who also described the project as a statement about the commitment of the administration “to do everything it can to enable the Private Sector to deliver on its own specialty which is to make investments such as this”, pointed out that the description was in the context that…