OPEC daily basket price close at $49.97/b

01 August 2017, Sweetcrude, Vienna, Austria — The price of OPEC basket of fourteen crudes stood at $49.97 a barrel on Monday, compared with $49.46 the previous Friday, according to OPEC Secretariat calculations. The OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Zafiro (Equatorial […] More »

Toshiba to pay $2.2bn compensation to quit US nuclear power project

01 August 2017, Sweetcrude, Houston — Toshiba has agreed to pay $2.168bn as compensation for quitting from fulfilling a contract to build two nuclear reactors for a US project owned by South Carolina Electric & Gas Company (SCE&G) and Santee Cooper. The Japanese firm’s subsidiary Westinghouse Electric was given the engineering, procurement, and construction (EPC) […] More »

Niger Delta militants vow to resume attacks on oil installations Sept 31

"We have resolved that resource control, fiscal federalism and devolution of powers are the only panacea. Anything short of that will not be acceptable to NDRC and the 21st century agitators of the Niger Delta." More »

Photos: Protesters picket EKEDC’s HQs over lack of electricity

01 August 2017, Sweetcrude, Lagos – Electricity consumers protesting lack of power supply to their communities at the Eko Electricity Distribution Company, EKEDC, headquarters in Marina, Lagos on Monday. More »

TNP: MOSOP accuses NNPC of blackmailing Ogoni to resume oil production

Mkpoikana Udoma 01 August 2017, Sweetcrude, Port Harcourt – The socio-cultural body of Ogoni people in Rivers State, the Movement for the Survival of Ogoni People, MOSOP, has described as false the allegation that the federal government losses 150,000bpd of crude oil due to destruction of the Trans-Niger Pipeline, TNP, in Ogoniland. Recall that the Group […] More »

Power sector loses N7.73bn in one week

“The power sector lost an estimated N1,458,000,000 on July 24 2017 due to constraints. High frequency due to loss of Disco feeders remains a significant constraint to generation. Increased gas constraints at Omotosho I and II, Olorunsogo I, Alaoji NIPP and Geregu NIPP.” More »

Nigeria to add 819MW of clean energy to grid in 2 years – Govt

Fashola explained that the government would put its energy to providing embedded power generation through renewable energy sources because it was pricey to expand the national grid to parts of the country that do have connection to it yet. More »