Oil prices drop as fears over trade war, weaker demand return to haunt marke Oil prices slipped on Tuesday for a second straight session as the cons of a slowing global demand outlook outweighed the pros of OPEC’s agreement with associated producers at the end of last week to deepen crude output cuts in early…
Lagos State Government says its investment in technology and innovation was a deliberate effort to make Lagos Africa’s foremost centre of innovation. Lagos State Governor, Babajide Sanwo-Olu, said this on Monday in Ikeja, during a courtesy visit by the Management Team of Oracle Africa, led by the Group’s Country Director, Mr Adebayo Sanni. Sanwo-Olu said…
The Executive Vice Chairman (EVC), Nigeria Communications Commission (NCC), Prof. Umar Danbatta has advised the Federal Government to remain competitive so as to fulfil local demand in the ICT sector. Danbatta, who was represented by the Director of New Media and Information Security, NCC, Dr Haru Alhassan, gave the advice at an ICT forum on…
The Electricity Distribution Companies (DisCos) say their revenue has increase by N43 billion in the last one year.Mr Sunday Oduntan, Director, Research and Advocacy, Association of Nigerian Electricity Distributors (ANED) disclosed this in a statement in Abuja on Tuesday. Oduntan said that the increase has reduced their Aggregate Technical, Commercial and Collection (ATC&C) losses to…
Alhaja Muinat Bello-Zagi, Operations Controller, Department of Petroleum Resources (DPR), Abeokuta Field Office, on Tuesday said that 70 per cent of gas facilities in Ado-Odo/Ota Local Government Area of Ogun were illegal. Bello-Zagi made this known while speaking at the 2nd Annual General Meeting of the DPR, Abeokuta Field Office, held in Abeokuta. The theme…
Mr Olasupo Agbaje, General Manager, Gas and Renewable Energy, Petroleum Products Pricing Regulatory Agency, said the agency would release a Liquefied Petroleum Gas (LPG), known as cooking gas, pricing template latest by mid 2020. Agbaje disclosed this at an interactive retreat on understanding the dynamics of downstream sector of the petroleum industry in Abuja on…
The Minister of Power, Mr Sale Mamman, has urged stakeholders in the power industry to work together to effectively deliver on their mandate. Mrs Etore Thomas, Deputy Director, Press, Ministry of Power, in a statement in Abuja on Tuesday, said the minister made the call in a keynote address at the opening of a two-day retreat organised for…
…Records 45,347 pipeline breaks in 18 years The Nigerian National Petroleum Corporation (NNPC) has laid out steps to mitigate the ragging twin menace of pipeline vandalism and crude oil theft in the nation’s Oil and Gas Industry. Speaking Tuesday in Abuja at the inaugural Nigeria Extractive Industries Transparency Initiative (NEITI) Policy Dialogue, the Group…
The Nigerian downstream sector in spite of being regulated provides solace for oil trading business across the country. The downstream has also experienced numerous operators in the past especially International Oil Companies (IOCs) dominating the space. Although, many IOCs have quitted the downstream space making room for indigenous operators to sprawl. One of such operators…
The Nigerian National Petroleum Corporation (NNPC) on Monday called on Nigerians and security agencies to join its effort at curbing the menace of oil pipeline vandalism in the country. Mr Adeyemi Adetunji, NNPC’s Chief Operating Officer for Down Stream Operations made the appeal during an inspection visit to the scene of a recent pipeline fire…