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OPEC holds 7th International Seminar in Vienna June 20

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The Organization of the Petroleum Exporting Countries (OPEC) will host the 7 th   OPEC 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 topic
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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 dis
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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
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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 wo
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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 Com
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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 la
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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. Protocol Transmission 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 ci
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