The Nigerian Electricity Regulatory Commission, NERC, has provided explanation, as its minor review of tariff generates controversy in Nigeria. :“The Electric Power Sector Reform Act provides that the Commission shall determine and periodically review electricity tariffs charged by the electricity distribution companies (DisCos) and to provide an opportunity for utilities to recover efficient costs of…
Total and Apache have made a material oil discovery with the Maka Central-1 well on Block 58 offshore Surinam, on trend with the prolific discoveries in the adjacent Stabroek block in Guyana. According to Total, “the Maka Central-1 well was drilled by a water depth of about 1,000 meters and encountered more than 123 meters…
Members the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN), Chevron branch, on Monday staged a peaceful protest at the Lagos office of Chevron Nigeria Limited (CNL) in Lekki, over alleged welfare issues. Our correspondent who monitored the situation observed that the picketing began early in the day with the aggrieved workers holding placards…
Oil prices rose a further 2 per cent on Monday, pushing Brent above 70 dollars a barrel, as rhetoric from the United States, Iran and Iraq fanned tensions in the Middle East after a U.S. air strike which killed a top Iranian military commander. Brent crude futures LCOc1 soared to a high of 70.74 dollars…
The Nigeria Employers’ Consultative Association (NECA) says the proposed hike in electricity tariff is necessary to get the power sector back on track. Its Director-General, Mr Timothy Olawale, said on Monday in Lagos that putting the tariff concerns in context, the issue of the increment was intended to enable the sector to realise the right…
State-owned oil and gas company Qatar Petroleum (QP) said it had signed an agreement with Kuwait Petroleum Corporation to supply 3 million tonnes of liquefied natural gas annually for 15 years. The agreement was signed on Sunday in Kuwait by Qatar Petroleum CEO and Qatari Energy Minister Saad Sherida Al-Kaabi and Kuwaiti Oil Minister Khaled…
Eko Electricity Distribution Company says it has opened four additional Customer Complaint Centres (CCC) to fast track dispensation of customer complaints within its areas of operation. The company’s Head, Media and Communications, Mr Sulaiman Aledeh, made the announcement in a statement issued on Monday in Lagos. Aledeh said the move brings the existing customer complaint…
The Nigerian Electricity Regulatory Commission (NERC), says there will be no increase in electricity tariff without consultations. Prof. James Momoh, the Chairman of NERC said this at a news conference in Abuja on Monday. According to him, what the commission has done is a tariff review which is usually done twice a year. NERC had…
The Association of Nigerian Electricity Distribution Companies (ANED), on Monday said that the Distribution Companies (DisCos) would enforce the new electricity tariffs from April 1. Mr Sunday Oduntan, the Director, Research and Advocacy, ANED disclosed this in a statement in Abuja on Monday. Oduntan said that the present tariff shall remain the same until April…
The Nigerian Electricity Regulatory Commission (NERC) says it will ensure that customers pay for only electricity consumed by providing meters for them. The Chairman of NERC, Prof. James Momoh, said this at a news conference in Abuja on Monday. Momoh said that NERC would do everything within its power to ensure that distribution companies (DisCos)…