DisCos’ woes won’t go away, maybe efficient service delivery would help
Bukola Odufade
April 9, 2018
In a twist of ironic fate, the eleven electricity distribution companies, which came into being in Nigeria following the privatisation of power generation and distribution in the value chain, four years ago, appear caught up in the spell that consumed the legacy companies, and which the sale of the assets to core investors was intended […]
Nigeria power minister tasks electricity companies on distribution quality, improved collection
Businessam StaffApril 9, 2018
Babatunde Fashola, Nigeria’s power minister Monday, April 9, 2018 charged electric distribution companies to improve the quality and capacity of their distribution equipment for improved power supply and service in order to stimulate consumer willingness to pay. He made the charge at the 26th monthly power operators meeting in Umuahia, Abia State. “In order to […]
Nigeria state oil company signs contract agreements for 614km AKK project
Businessam StaffApril 9, 2018
The Nigerian National Petroleum Corporation (NNPC) has executed contracts for the engineering, procurement, construction, commissioning and financing for Lots 1&3 of the 40inch x 614km Ajaokuta – Kaduna – Kano gas pipeline and stations with a consortium of indigenous and Chinese companies under a 100 percent contractor financing model. Under the terms of the contract, […]
Nigeria to trade electricity with neighbouring countries
Businessam StaffApril 7, 2018
Nigeria will begin electricity trading with other West African countries from June 2018, according to Usman Mohammed, the Chairman of the West African Power Pool (WAPP) and managing director of the Transmission Company of Nigeria (TCN). Mohammed stated that the formalisation of the electricity trading arrangement will be done under WAPP and the ECOWAS Regional […]
Bahrain discovers 80bn barrels of shale oil, significant amounts of tight gas
Businessam StaffApril 4, 2018
Bahrain, the Arabian Gulf island nation, has announced that it has discovered 80 billion barrels of oil and significant amounts of tight gas. If claims are true, it is as much as Russia’s oil reserves. The Persian Gulf country also claimed that the find is its biggest oil discovery since 1932. “The other discovery is […]
Not enough knowledge of biomass keeps industry informal
Bukola OdufadeApril 4, 2018
Biomass as a source of power generation in Nigeria has been more talk than action, unlike its other renewable energy counterparts such as solar or wind energy. Despite biomass being the only baseload source of renewable energy, meaning it can produce constant power without depending on the weather or daylight, it is still overlooked and […]
Nigeria electricity companies lament energy theft, poor collection hobbling their operations
Businessam StaffApril 4, 2018
By Abdulrafiu Edidi Nigeria’s electricity distribution companies say increased energy theft and customers refusal to pay are hobbling their revenue drive, which may further deteriorate power supply in the country. They said due to poor revenue collection from their operations they are unable to pay generating companies, who equally cannot meet their obligations to gas […]
Trade war effect on oil prices to be minor- minister
Businessam StaffApril 4, 2018
Suhail Al Mazrouei, the United Arab Emirates energy minister said Tuesday that he is not concerned about the international trade war upsetting the crude oil market as such might not have significant effect on the prices. The minister who said the trade war could affect the cost of drilling, the cost of completion, also admitted […]
Downstream already up in arms over single regulatory commission for industry
Bukola OdufadeApril 2, 2018
The rationale behind the need for two regulatory commissions instead of the proposed one in the Petroleum Industry Governance Bill (PIGB) is not far-fetched for the Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN), Olufemi Adewole, its executive secretary, , told business a.m. in an interview. Last week the lawmakers passed the Petroleum Industry […]
Natural gas price dips after limited storage decline
Businessam StaffMarch 29, 2018
Natural gas stocks decreased by 63 billion cubic feet for the week ending March 23, according to the U.S. Energy Information Administration (EIA) on Thursday. Analysts were expecting a storage withdrawal of about 87 billion cubic feet. The five-year average for the week is a withdrawal of 46 billion cubic feet, and last year’s storage […]