Rivers State governor, Nyesom Wike, says the termination of the sale of the Omoku gas power plant and other state government-owned assets to Sahara Energy Limitedfollowed due process. The Rivers State government recently announced the revocation of the sale of the power plant, among other assets, to Sahara Energy, saying the assets were illegally acquired. Governor…
Investors’ apathy trailed the Nigerian petroleum industry in the third quarter of 2018, as foreign capital inflow in the industry dipped by 68.9 percent to $7.73 million compared to $24.85 million foreign capital recorded in the second quarter of 2018. According to data obtained from the National Bureau of Statistics (NBS) Foreign Trade Statistics for third quarter…
The Managing Director of Nigerian Ports Authority Hadiza Bala Usman said the agency is set to enhance its operational efficiency in the new year. She also told Terminal Operators and Port Users that it would further open its doors for all players to surmount various bottlenecks with a view to providing a healthy and smooth…
In a renewed efforts at boosting the use of gas and reducing greenhouse emissions, the federal government has set a target which aims at achieving a 40 per cent energy switch from the consumption of Premium Motor Spirit (petrol), Dual Purpose Kerosene (kerosene) and Automotive Gas Oil (diesel), to the use of Liquefied Petroleum Gas….
Oil prices edged higher on the last trading day of the year on Monday, taking a cue from firmer stock markets, but remain on track for the first yearly decline in three years amid concerns of a supply glut. Also, hints of progress on a possible U.S.-China trade deal helped bolster sentiment, which has been…
The Benin Electricity Distribution Company, BEDC, during the festive period restored electricity to the ‘Eka Meta” communities of Ekiti state comprising of Erinijiyan, Ipoleloro, Ikogosi. The three communities are at the end of Ilawe/Aramoko feeder with very unreliable supply for several years. However, the supply source of the community was changed whilst the feeder and entire network was…
The petroleum products importation statistics for third quarter, Q3, 2018 reflected that Nigeria imported a little over 4 billion litres of premium motor spirits, PMS, popularly known as petrol, within the quarter. According to the newly-released data by the National Bureau of Statistics, NBS, a total of 4.37 litres of petrol was imported, likewise 873.72 million…
Kaduna Electricity Distribution Company has commenced knowledge sharing campaigns through formation of Energy Conservation Clubs in secondary schools within its franchise. The exercise is aimed at inculcating energy efficiency values and safety culture among young minds. A statement by the Head, Corporate Communication of the Company, Abdulazeez Abdullahi, stated that the Energy Conservation Clubs are established “to…
Oil reversed course and rose on Thursday, after industry sources said Russia had accepted the need to cut production together with OPEC. The price is still set for its biggest monthly fall since the depths of the financial crisis in 2008, having lost more than 22 percent so far in November. A seemingly relentless rise…
The Consumer Protection Council, CPC has condemned arbitrary billing by the electricity distribution companies, DISCOs, urging them to embark on an aggressive metering system to curb estimated billings. Mr. Babatunde Irukere, the Director General of CPC gave the advised in a statement on Wednesday. Irukere, while expressing understanding about challenges in the industry, said DisCos have…