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OPEC Favors 9-Month Extension Of Production Cut Agreement

OPEC Favors 9-Month Extension Of Production Cut Agreement

According to Reuters sources, OPEC…

Oil Quality Issues Could Bankrupt Venezuela

Oil Quality Issues Could Bankrupt Venezuela

Falling Venezuelan oil quality could…

Nigeria: Rethinking the Atomic Power Project

Nigeria: Rethinking the Atomic Power Project

Despite the 11 March nuclear debacle at Japan’s Fukushima nuclear power complex, Nigeria is determined to press forward with its nuclear power agenda. On 15 September Nigerian President Goodluck Jonathan formally inaugurated Nigeria's Atomic Energy Commission and urged its members to quickly evolve plans and timelines for Nigerian atomic energy.

Jonathan said, "We all know the importance of atomic energy. We have plans to generate power from atomic energy and we must pursue it seriously. But we need a very capable commission to facilitate and regulate our development and use of atomic energy for peace applications. "I am very pleased, therefore, to inaugurate your commission today. We expect you to come up with timelines for the delivery of atomic energy to our people and we will give you the resources you need to work. We are very hopeful that with the high caliber and credentials of members of the commission, our expectations will be realized," Abuja’s Leadership newspaper reported.

Jonathan’s comments reflect the reality of Nigeria’s current energy crisis. Despite Nigeria having the world's seventh-largest natural gas reserves, the country suffers from chronic electricity outages which force businesses and affluent individuals to rely on generators.

By. Charles Kennedy, Deputy Editor OilPrice.com



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