25 Apr GEPLAW ENERGY FOCUS REPORT: APRIL 2020
Posted at 12:50h in Publications
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