The Federal Government on Tuesday in Abuja began review of the Act establishing Oil and Gas Free Zones Authority (OGFZA) in Nigeria. The review is to remove ambiguities and enhance effectiveness in the sector. Mr Adeniyi Adebayo, the Minister of Industry, Trade and Investment while declaring open a stakeholder’s forum to review the OGFZA Act…
The U.S. could begin purchasing U.S. produced crude oil for the Strategic Petroleum Reserve in two weeks from now, and fill it in several months, an Energy Department source said on Monday. President Donald Trump said on Friday that he had ordered the Energy Department to fill the reserve “to the top.” The move was…
Eko Electricity Distribution Company (EKEDC) says it is planning to decommission Unistar Meters assigned to about 11, 000 customers within its franchise areas. The move, according to the DisCo, is however subject to the approval of the Nigerian Electricity Regulatory Commission (NERC), which regulates the power sector. Mr Sulaiman Aledeh, Head, Media and Communications, EKEDC, …
The Independent Petroleum Marketers Association of Nigeria (IPMAN), Delta Chapter, has called for the immediate reopening of the Warri Refining and Petrochemical Company (WRPC) for operations. Its Chairman, Mr Zino Onaemor, made the call while speaking with members of the Correspondents’ Chapel of the Nigeria Union of Journalists (NUJ) on Monday in Warri. The IPMAN…
The Nigerian Electricity Regulation Commission (NERC) on Monday said the 11 Distribution Companies (DisCos) received a total of 172,833 complaints from consumers in the third quarter of 2019. The third quarter report, obtained from NERC’s website in Abuja, indicated 10.41 per cent increase on number of complaints received during the second quarter, which was 145,959….
The coronavirus pandemic also known as COVID-19, is affecting a wide range of energy markets: coal, gas and renewables, but its impact on oil markets is particularly severe. This can be seen from the supply glut currently witnessed in the market and the persistent drop in crude oil prices. As a result of the rapid…
The Society of Petroleum Engineers (SPE) says that divestment of oil assets in the country does not have any negative implication for the nation’s oil and gas sector. The Chairman of the group, Mr Joe Nwakwue, made this known while briefing newsmen in Abuja on Monday. He said that the oil and gas sector in…
The National President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Elder Chinedu Okoronkwo on monday commiserate with the victims of Sunday’s explosion in Abule Ado and Trade Fair areas of Lagos, tasked residents on illegal building on pipelines Right of Way (RoW). Okoronkwo, in a statement, said that efforts must be made by government…
The Oyo State government is set to re-prioritise its expenditure and cut its 2020 budget to survive the impacts of oil price crash in the international market. The Chief Economic Adviser to the Governor, Dr Musbau Babatunde, made the disclosure in Ibadan on Sunday. He said that since the price crash had affected the federal…
The pipeline explosion which occurred at about 9.00am in Lagos on Sunday has yet to be put out in spite of the combined efforts of the Federal Fire Service, Lagos State Fire Service and others. The others include the National Emergency Management Agency, Lagos State Emergency Management Agency, Red Cross, the police and other security…