Category: Energy and Power
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OPEC excludes Nigeria from production cut as oil prices set to appreciate
Following its 171st meeting held at Organization of the Petroleum Exporting Countries (OPEC) headquarters in Vienna on Wednesday 30th November, 2016, OPEC, has reached a landmark deal that will effectively cut production by about 1.2 million barrels per day, or about 4.5 percent of current production, to 32.5 million barrels per day. A statement issued…
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Power generation drops from 4,285mw to 3,321mw
The nation’s power generation capacity on Thursday dropped from 4,285 megawatts recorded on Sept. 16 to 3,321 megawatts on Dec. 1 due to dearth of gas information from the website of Nigerian Electricity System Operator has shown. The Transmission Company of Nigeria (TCN), puts the total output of all the generation companies at 3,321.50 megawatts,…
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Beijing to bid farewell to coal mining in four years
Beijing will close its last three coal mines in the next four years and entirely quit coal mining by 2020, sources with the Beijing Municipal Commission of Development and Reform said Wednesday. In 2016, Beijing closed two coal mines with a total annual production capacity of 1.8 million tonnes, said Li Bin, deputy director of…