TCN threatens to sanction erring electricity market participants The Transmission Company of Nigeria (TCN) has threatened to sanction erring electricity market participants, having given them notices and time to comply with the market rules. The market participants in the power sector are the generation, transmission and distribution companies. TCN’s Market Operator (MO), Mr Edmund Eje,…
Petrol price increases by 42.63% a litre in one year – NBS The National Bureau of Statistics (NBS), says the average retail price of a litre of petrol has increased from N185.30 in March 2022 to N264.29 in March 2023. It made the declaration in its Petrol Price Watch for March 2023 released in Abuja…
NCDMB, NLNG plan 1.2 million gas cylinders annually Discussions are currently ongoing between the Nigerian Content Development and Monitoring Board and the Nigerian Liquefied Natural Gas Limited for the production of 1.2 million gas cylinders every year. The Executive Secretary, NCDMB Simbi Wabote, revealed this on the sideline of a media conference in Abuja announcing…
ARDA task Stakeholders to look beyond CBN funding for downstream operations The African Refiners and Distributors Association (ARDA) has called on petroleum products marketers and other operators in the downstream segment of the oil and gas industry sector to look beyond interventions by the Central Bank of Nigeria to survive. The Executive Secretary of the…
Carbon management challenge a big step forward – IEF The Carbon Management Challenge announced by the White House is a big step forward in the battle against global warming, according to Joseph McMonigle, the IEF Secretary General. US President Joe Biden joined other leaders in the Major Economies Forum last week to announce the Carbon…
NUPENG, PENGASSAN Insist Tenure, Remuneration Of NNPCL’s GCEO, CFO In line With PIA Nigeria’s oil and gas sector’s top unions have broken their silence over the controversial reports on the disengagement of the Group Managing Director, Mele Kyari and Group Executive Director F&A, Mr. Umar Ajiya from the services of the old Nigerian National Petroleum…
No Additional Cost From Cargo Tracking Note – NSC The Nigerian Shippers’ Council has assured manufacturers and shippers that there would be no additional cost borne from the Electronic Cargo Tracking Note (ECTN). This is even as it stressed that the ECTN will address issues of insecurity, oil theft amongst others. This assurance was made…
Nigeria produces 115m barrels, 75% of budget benchmark in Q1 amid struggling oil output Amid Nigeria’s crude oil production struggle, the country managed to drill 115 million barrels of the commodity in the first quarter of 2023, a review of industry data has shown. In all the country’s output was 39 million barrels in…
Indonesia’s Pertamina Q1 Crude Oil Production at 575,000 bpd Crude oil production by Indonesia’s state energy company Pertamina in January to March was 575,000 barrels of oil per day (bpd), 2% above target, the head of its upstream subsidiary told parliament at the beginning of the week. The output includes 151,000 bpd production from its…
Wind, Solar generate record 12% of global electricity in 2022 Wind and solar reached a record 12 percent share of global electricity generation last year, up from 10 percent in 2021, according to the latest Global Electricity Review released Wednesday by independent energy think-tank Ember. The growing electricity generation from wind and solar is forecast…
