By Ikenna Omeje Deepwater is now one of the cheapest sources of oil supply as production cost reach new lows, Rystad Energy analysis has revealed. A comprehensive analysis of the independent energy research and business intelligence company providing data, tools, analytics and consultancy services to the global energy industry, revealed that the average breakeven price for…
By Ikenna Omeje Following fears of petrol scarcity which has led to long queues in Abuja and its environs, the Nigerian National Petroleum Corporation (NNPC) has assured Nigerians of steady supply of petroleum products. According to a press release by the Group General Manager, Group Public Affairs Division of NNPC, Kennie Obateru, the Group Managing…
By Ikenna Omeje The Chief Executive Officer of Century Power Generation Limited, Dr Chukwueloka Umeh has said that the Federal Government’s retention of 60 percent equity stake in the power generation companies and 40 percent equity stake in the Distribution Companies (DisCOs) is counter- productive to the attainment of improved power supply for industralisation in…
The Senate on Monday berated the Federal Ministry of Power for the non-provision of budgetary allocation in the 2021 budget for the execution of the 3,050 megawatts Mambila Hydropower Project in Taraba State. The News Agency of Nigeria (NAN) reports that the senators expressed their displeasure when the Minister of Power, Mamman Sale, appeared before…
By Ikenna Omeje The Nigerian National Petroleum Corporation (NNPC) has assured Nigerians that there is no need for panic buying of petrol The Group General Manager, Group Public Affairs Division of NNPC, Kennie Obateru, told NAN on Monday that normalcy will soon be restored in the supply of petroleum products. According to Obateru, the long…
By Ikenna Omeje Out of $13.22 million service charges and energy invoices issued to Benin Republic, Niger and Togo for electricity received by Market Operator and the Nigerian Bulk Electricity Trading PLC respectively, both countries only paid $6.66 million in the first quarter of 2020, the Nigerian Electricity Regulatory Commission (NERC) has said. According to…
By Ikenna Omeje The West African Power Pool (WAPP), has appointed the Ag. MD/CEO of the Transmission Company of Nigeria (TCN), Engr. Sule A. Abdulaziz as the new Chairman of the WAPP Executive Board. According to a press release issued by the TCN General Manager, Public Affairs, Ndidi Mbah, the appointment was made during the…
By Ikenna Omeje The eleven (11) electricity Distribution Companies in the country (DisCos) paid only a sum of N60.20 billion out of a total invoice of N185.08 billion issued to them for energy received from the Nigerian Bulk Electricity Trading PLC (NBET) and service charge by the Market Operator (MO) in the first quarter of…
By Ikenna Omeje As the oil and gas industry continues to confront the disruptions and economic challenges occasioned by Covid-19 global pandemic, the Department of Petroleum Resources (DPR) has charged oil and gas companies in Nigeria to ensure prompt payment of all remunerations and allowances to their employees. The regulatory body, which disclosed this in…
By Mordi Chukwunonso Esther The National Youth Service Corps has declared its readiness to partner National Agricultural Land Development Authority in its effort of achieving food security in Nigeria. This was disclosed by the NYSC Director-General, Brigadier General Shuaibu Ibrahim in his office in Abuja on Thursday when the Executive Secretary of NALDA, Prince Paul…