Oil Rises On China Stimulus Expectations, Weaker Dollar Oil prices rose on Tuesday on expectations of potential economic stimulus by China, healthy demand in the rest of Asia and a drop in U.S. crude stockpiles. Brent crude futures rose 63 cents, or 0.8%, to $84.81 a barrel at 0840 GMT, while U.S. West Texas Intermediate…
PIA: Group Decries Remapping of Akwa Ibom Over 3% Host Community Fund The Ilima Obolo has kicked against alleged plots by Akwa Ibom State House of Assembly to adjust boundaries and redesign the map of the state, in order to make neighbouring Local Government Areas beneficiaries of the 3 percent host communities fund enshrined in…
NERC Launches Charter to Improve Service Delivery to Power Consumers The Nigerian Electricity Regulatory Commission, NERC, has unveiled a charter aimed at improving services in the power sector for the benefit of the power consuming public. The unveiling of the charter in collaboration with Service Compact, SERVICOM, took place in Abuja and is expected to…
IYC Slams Oil Multinationals for Alleged Neglect of Host Communities The umbrella body of Ijaw youths, the Ijaw Youths Council (IYC) Worldwide has raised the alarm over an alleged ongoing deprivation and oppression of host communities in Delta, Rivers and Bayelsa States by some International Oil Companies (IOCs). National spokesman for IYC, Comrade Ebilade Ekerefe,…
IPMAN wants CBN’s Gas Expansion Fund for Cars, Keke, Trucks IPMAN has written to the Federal Ministry of Finance to ask that the CBN release funds meant for the gas expansion programme, to power cars, kekes, and trucks belonging to Nigerians. The Association says it is ready to deploy natural gas dispensers to 30,000 filling…
Texas Senate Votes to Add More Natural Gas Capacity to Fix Grid Issues The Texas Senate voted this week to add more natural gas-fired capacity to the state grid to add more reliable power to the Electric Reliability Council of Texas (ERCOT) and make it ready to meet demand in any circumstances. Since Winter Storm…
Oil Spills: Expert Tasks Operators on Pipeline Integrity As a way of curbing incessant well blowouts and equipment failure as well as the concomitant environmental damages in the Niger Delta region, an expert has charged oil operators to lookout for the integrity of their oil and gas facilities. In the last 18 months both Aiteo…
Use Fuel Subsidy’s $800m Palliative For Healthcare, Education – Dagogo A Member of the House of Representatives from Rivers State, Hon. Farah Dagogo, has tasked the Federal Government to jettison the planned $800 million cash transfers to about 50 million Nigerians that would serve as cushion for fuel subsidy removal. The Minister of Finance, Budget…
NNPC says it will be vindicated over allegation of N20bn Payment to Ghost Consultants The Nigerian National Petroleum Company (NNPC) Ltd has assured that the investigation by the House of Representatives into the alleged payment of N20bn to so-called ghost consultants will exonerate the National Oil Company. It said this in a statement issued and…
Energy Security: Is the World Aligning with OPEC? By Ikenna Omeje The Organisation of the Petroleum Countries (OPEC), before now, has been a lone voice against energy transition without fossil fuels. OPEC has been advocating for a multilateral approach to net-zero, noting that with the increasing global population, fossil fuels have a place in energy…