The Federal Government has signed a Memorandum of Understanding (MoU) with the Russian Ministry of Trade and Investment on scientific and technical cooperation in geosciences. Mr Ayodeji Adeyemi, Special Assistant to the Minister of Mines and Steel Development on Media, said this in a statement on Friday in Abuja. Adeyemi said Mr Olamilekan Adegbite, the…
Nigerians, over the years have been waiting for a time when constant power supply would be enjoyed. Although, the government has embarked on several measures to address the hydra-headed challenges confronting the power industry. Mr Kola Balogun, Chairman/ CEO , MOMAS Electricity Meter Manufacturing Company (MEMMCOL) speaks with TBI Africa team on what can be…
Eni’s oil energy group, Eni, achieved its highest ever oil and gas production rate for a third quarter, softening the blow of lower quarterly earnings because of weak oil and gas prices. The Italian company generates around 90 per cent of its operating profit from its upstream oil and gas business. Major gas discoveries in…
Oil prices steadied on Friday and were on track for strong weekly gains as support from a surprise draw in U.S. inventories and possible action from OPEC and its allies to extend output cuts outweighed broader economic concerns. Brent crude LCOc1 was down a marginal 2 cents at 61.65 dollars by 0957 GMT, but the…
Don Bossco Academy, Ekpoma, Edo on Friday, emerged winners of the 2019 edition of the annual Seplat Pearls Quiz competition. Don Bossco Academy defeated students of Peniel Academy Agbor, Delta, with 74 points to 58 points at the finals of the competition, which held at Imaguero College, Benin, Edo. Deeper Life High School, Opete, Delta,…
Mr Kola Balogun, Chairman, MOMAS Electricity Meter Manufacturing Company (MEMMCOL) has urged the Federal Government to sanction Meter Assets Providers (MAPs) that contravene the Power Sector Local Content Act. Balogun made the call on Friday in Lagos, while reacting to the massive importation of electrical equipment into the country; which contravenes the Executive Order 5….
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations, said that they could not generate 2,238 megawatts of electricity on Thursday due to unavailability of gas. This is contained in a daily energy report by the Advisory Power Team, office of the Vice President, a copy of which was obtained in Abuja on Friday. The…
Oil slipped below 61 dollars a barrel on Thursday as concern over the demand outlook offset a surprise drop in U.S. crude inventories and the prospect of further action by OPEC and its allies to support the market. In the latest sign of economic weakness that has prompted lower oil demand projections, employment in Germany’s…
The Ibadan Electricity Distribution Company (IBEDC) has called for the use of cost-reflective tariffs to enable distribution companies to make commensurate gains on their investments. Mrs Busolami Tunwase, the IBEDC Media Officer, gave the advice in Ibadan on Thursday. “What the DISCOs are clamouring for, right now, is to have a cost-reflective tariff; like you…
The Department of Petroleum Resources (DPR) has urged operators in the oil and gas sector to adhere strictly to the global best practices in the operation of their businesses. Mr Antai Asuquo, the Operations Controller, Warri Zonal Office of the DPR, gave the advice on Thursday at the regulatory agency’s “Annual Tripartite Regulatory Meeting” in…