Feb sweet crude report

Page 1

Transparency, accountability in oil and gas production, at last? P/6

Bulk Trader’s PPA frees FG from Olorunsogo, Omotosho loan repayment P/21

A Review Of The Nigerian Energy Industry February, 2014

VOL 02 N0. 12

U P DAT E S MONTHLY BASKET PRICE JAN-14 DEC-13 NOV-13 OCT-13 SEP-13 AUG-13 JUL-13 JUN-13 MAY-13 APR-13 MAR-13

104.71 107.67 104.97 106.69 108.73 107.52 104.45 101.03 100.65 101.05 106.41

FEB-13 JAN-13

112.75 109.28

Daily | Weekly | Monthly | Yearly

104.67 U$

114 112 110

www.sweetcrudereports.com

‘Constant electricity’ remains a mirage for millions of Nigerians Inadequate gas supply hampering smooth-operation of power plants 30% of gas supply capacity lost to pipeline vandalism

108 106 104 102 100 Jan13 Feb-13 Mar-13 Apr-13 May-13 Jun-13 Jul-13 Aug-13 Sep-13 Oct-13 Nov-13 Dec-13 Jan-13

At $1.8m per MW, Zungeru Hydro is cheap —Govt

A

BUJA - The F e d e r a l government on Monday insisted that despite having a base cost of $1.85million per installed mega watt, the 700mw Zungeru Hydro Project remains one of the cheapest in the world. The project which was a w a r d e d t o CNEEC/Sinohydro Consortium in 2012 for $1.3billion was flagged off in May last year by President Goodluck Jonathan. According to the terms of the agreement, the Chinese Exim Bank is to undertake 75 percent of the cost while the Federal government is providing the remaining 25 percent as counterpart funding.

P/30

Govt has violated all agreement with electricity workers, NUEEE alleges


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