Lagos Deep Offshore Logistic Base, LADOL was selected by London Stock Exchange (LSE) as one of its Companies to Inspire in Africa 2019. The report by the LSE was launched on Wednesday at the opening of the market in London at the LSE. This is the second edition of this prestigious report which…
The National Bureau of Statistics, NBS report, released yesterday, showed that the average price paid by consumers for premium motor spirit (petrol) decreased by -15.1% year-on-year and -1.1per cent month-on-month to N145.80 in December 2018 from N147.50 in November 2018. The NBS report also stated: “States with the highest average price of premium motor spirit…
The retail arm of the Nigerian National Petroleum Corporation (NNPC) will by the first quarter of this year launch its lubricant brand into the Nigerian market as part of strategies to improve revenue and expand NNPC’s retail market share. The Managing Director of NNPC Retail Ltd, Mr. Adeyemi Adetunji, who said this in an interview…
March loading programmes had not yet emerged on Tuesday but were expected before the end of the week, while an extra cargo of new grade Egina was added to Nigeria’s February programme. Sahara sold a cargo of end-February loading Nigerian Egina and Phillips 66 was said to be the buyer, traders said. An additional cargo…
Nigeria’s plan to resume distribution of petroleum products through the railways has been put on hold by the federal government’s decision to concession the rail system, the Executive Secretary of the Petroleum Equalisation Fund (PEF), Mr. Ahmed Bobboi, has said. Bobboi said yesterday at a workshop in Abuja that plans by the PEF to introduce…
Petroleum marketing company in Lagos, MOB Integrated Services Limited, is now the largest supplier of Liquefied Petroleum Gas (LPG) in West Africa, delivering over 25,000 metric tonnes (MT) monthly across the sub-Sahara Africa, including Nigeria, Republic of Benin and Ghana. With Nigeria still being an emerging market, which consumes above 500,000 metric tonnes annually, MOB…
Nigeria’s main opposition candidate for president said on Wednesday he would seek to privatise the state oil company and other government assets if elected next month, while removing a costly petrol subsidy, to revive the economy. Atiku Abubakar, a businessman who served as vice president between 1999 and 2007, has promised to double the size…
On Monday, Eskom shared the rationale for its average annual electricity increase application of 15% for three years under the fourth Multi-Year Price Determination (MYPD4) and Regulatory Clearing Account (RCA) balance application for 2018 made to the National Energy Regulator of South Africa (NERSA). Eskom’s executives presented their case to stakeholders attending the Cape Town…
South Africa is aiming to finalise a long-term plan for the country’s energy mix next month, and once that is done it will launch another round of renewable energy deals, Energy Minister Jeff Radebe said on Wednesday. “We are aiming for February,” Radebe told Reuters, when asked when the Integrated Resource Plan (IRP) would be…
Uganda aims to impose financial penalties from March, on its sole power distributor, Umeme Limited, for any frequent and prolonged supply outages, the regulator said. The public has long complained about high tariffs and long power cuts, while unreliable supplies add extra costs to businesses, which often run costly stand-by generators to keep operations going…
