GEPLAW ENERGY FOCUS REPORT: APRIL 2020

GEPLAW ENERGY FOCUS REPORT: APRIL 2020


A. INDUSTRY HIGHLIGHTS AND GLOBAL TRENDS
NIGERIA
Oil and Gas
  • Nigeria ramps up oil output despite sharp fall in global demand
  • Fuel marketers threaten to shut down over low sales during lockdown
  • FG not returning to fuel subsidy – NNPC
  • OPEC producers debate possible oil cuts of 10 million bpd
  • OPEC’s daily basket oil price drops to below $16.87 a barrel from $22.61
  • Nigeria’s oil export revenue may fall to $50bn in 2 years
  • NNPC currently leveraging technology to boost local capacity
  • Drop in Nigeria’s Excess Crude Account worries NNRC
  • FG slashes fuel price to N123.50 per litre
Power
  • NERC directs power firms not to discontinue operations during the shutdown
  • GenCos express concern over gas supply as suppliers demand upfront payment
  • Gas shortage stalls 10,362MW in 3 days
  • NERC releases new Order; confirms non-increment in electricity tariffs
  • FG gives DisCos three months to improve service or face sanctions
  • IBEDC assures customers of uninterrupted power services
  • Ikeja Electric suspends disconnection…continue reading