NUPENG Blames Pipelines Vandalism On NNPC Failure

The leadership of the Nigerian Union of Petroleum and Natural Gas Workers (NUPENG) has berated the management of the Nigerian National Petroleum Corporation (NNPC) for not concluding on security of pipelines with local communities and their leaders.NUPENG alleged that the NNPC previously had an arrangement with communities to secure pipelines across the country for a fee, but which the

Ezekwesili Challenges Maku To Public Debate Over $67bn Controversy

Former Minister of Education, Dr. Obiageli Ezekwesili has challenged officials of the Federal Government to a public debate following the government’s rebuttal to her comments alleging that the governments of Presidents Umaru Musa Yar’Adua and Goodluck Jonathan, squandered $67 billion (about N10.6trn) in foreign reserves.Minister of Information, Mr Labaran Maku who addressed a press conference in

ALSCON: RUSAL wants $502m compensation

Rusal, the Russian company which bought the controlling shares of the Aluminum Smelter Company of Nigeria, ALSCON, Ikot-Abasi, Akwa-Ibom State, has demanded $502 million (about N78.8 billion) compensation for it to quit the nation’s only aluminum manufacturing company, in line with the Supreme Court order.A top source at the Presidency said the Russians made the demand as an alternative to their

Financial market update

Nigeria was the third most rewarding stock market globally in 2012 behind Egypt and Kenya, as investors harvested 35.45 percent yield- to- date return on investment from the Nigerian Stock Exchange (NSE).Bonds - Another bullish session yesterday as it became apparent that market participants were waiting to cross year end before going in heavy on bonds. It is clear that market participants see

Horizontal drilling boosts Pennsylvania's natural gas production

Between 2009 and 2011, Pennsylvania's natural gas production more than quadrupled due to expanded horizontal drilling combined with hydraulic fracturing. This drilling activity, which is concentrated in shale formations that cover a broad swath of the state, mirrors trends seen in the Barnett shale formation in Texas. The animation illustrates Pennsylvania's relatively recent transition from

Ivory Coast aims to boost oil output

Ivory Coast hopes to raise its oil output to around 200,000 barrels per day in five years from 32,000 bpd now thanks to recent discoveries and ongoing exploratory drilling, a top oil official said according to a report.Oil exploration off Africa’s west coast has risen sharply since Ivory Coast’s neighbour Ghana discovered a large field in 2007 and brought it into production in record time in late

Nigeria, Cameroon partner on environmental data

Nigeria is to partner with Cameroon to establish framework for exchange of hydro-meteorological and environmental data to prevent flooding, a statement said.The statement, signed by Mrs Modupe Ogundoro of the Federal Ministry of Water Resources in Abuja, said the agreement was reached after the Technical Committee on the issue of Lagdo dam visited Cameroon in December, 2012.It said the two

Monthly coal and natural gas-fired generation equal for first time in April 2012

Recently published (April 2012) electric power data show that, for the first time since EIA began collecting the data, generation from natural gas-fired plants is virtually equal to generation from coal-fired plants, with each fuel providing 32% of total generation. In April 2012, preliminary data show net electric generation from natural gas was 95.9 million megawatthours, only slightly below

Electric generator dispatch depends on system demand and the relative cost of operation

U.S. Energy Information Administration.Note: The dispatch curve above is for a hypothetical collection of generators and does not represent an actual electric power system or model results. The capacity mix (of available generators) differs across the country; for example, the Pacific Northwest has significant hydroelectric capacity, and the Northeast has low levels of coal capacity.The variable

NUPENG tackles Chevron over deployment of soldiers

Nigeria Union of Petroleum and Natural Gas Workers, NUPENG, has deplored alleged deployment of armed soldiers and other security operatives to Chevron installations in Escravos, Warri, PortHarcourt and other locations over the ongoing industrial dispute with the union, warning that the deployment could worsen the already tense situation.The union claimed the armed soldiers and other security

Enugu Police arrest 503 suspects, record 99 kidnap cases in 2012

About 503 persons were arrested by the Enugu State police command for various offences between March and December 2012.The state commissioner of police, Mr. Musa Daura, disclosed this while briefing newsmen on the achievements of the command last year.He said suspects arrested within the period under review, included 99 for kidnapping, 201 for armed robbery, 37 for cultism, 21 for car snatching,

Uprates can increase U.S. nuclear capacity substantially without building new reactors

Uprates can increase U.S. nuclear capacity substantially without building new reactors. Originally published July 17, 2012.As of July 2012, there are 104 commercial nuclear reactors in the United States. In 2011, these plants provided 786 billion kilowatthours of electricity, or nearly one-fifth of total generation. The electrical output of the nuclear power plant fleet can be increased either by

OPEC to cut crude exports this month

The Organisation of Petroleum Exporting Countries will cut crude shipments this month by 1 percent as demand tapers off after peaking for the northern hemisphere winter, according to tanker tracker Oil Movements.The group that supplies about 40 per cent of the world’s oil will export 24.02 million barrels a day in the four weeks to Jan. 19, down 250,000 barrels from the previous period, the

Arctic oil and natural gas resources

The Arctic holds an estimated 13% (90 billion barrels) of the world's undiscovered conventional oil resources and 30% of its undiscovered conventional natural gas resources, according to an assessment conducted by the U.S. Geological Survey (USGS). Consideration of these resources as commercially viable is relatively recent despite the size of the Arctic's resources due to the difficulty and cost

Community debunks rumour of plot to attack Chevron

Amadiwei, Chairman of Benikrukru Community in Warri South-West Local Government Area of Delta State, Chief Jeffrey Ojogun, has said there was no security threat to the operations of Chevron Nigeria Limited, CNL.Speaking in Benikrukru Community Town Hall during a general meeting of the community, where leaders of the community passed a vote of confidence on him and his exco, Ojogun specifically

OPEC daily basket price close at $109.15/b

The price of OPEC basket of twelve crudes stood at 109.15 dollars a barrel on Thursday, compared with $108.96 the previous day, according to OPEC Secretariat calculations.The new OPEC Reference Basket of Crudes (ORB) is made up of the following: Saharan Blend (Algeria), Girassol (Angola), Oriente (Ecuador), Iran Heavy (Islamic Republic of Iran), Basra Light (Iraq), Kuwait Export (Kuwait), Es

Brent oil price falls under $111 on US concerns

Oil fell below $111 a barrel on Friday after US Federal Reserve policy makers indicated they may slow the quantitative easing stimulus programme or stop asset buys altogether later this year.Further talks in Washington next month to tackle the debt ceiling, and signs of hesitation within the Fed about more increases to the central bank’s $2.9 trillion balance sheet, weighed on prices.Brent crude