Oil traders seem increasingly convinced OPEC’s prompt action in cutting production will be enough to offset the impact of rising shale production and slowing global growth. Brent futures prices have stabilised around $60 per barrel in recent sessions, well below the peak of over $85 at the start of October, but significantly higher than the…
Nigeria’s President Muhammadu Buhari, has declined to assent to the Energy Commission Amendment Bill, 2018. In a letter dated January 4 addressed to the senate president, Bukola Saraki, President Buhari said the Bill is “unconstitutional”. The letter was read out by the deputy senate president, Ike Ekweremadu to the house on Thursday. According to the…
There is no contesting the obvious – the Nigeria power sector is trapped in a cyclic strain of hopeless inefficiency – nobody seems to have any clear – cut approach beyond half-measure experimentation procedurals nor can its affliction be properly diagnosed – let alone apply the right remedial combination for its many woes . …
Nigeria’s leading survey and polling firm, NOIPolls Ltd, says that its new aggregated power poll results released for 2018 showed that power supply still remains inadequate to Nigerian households.The report released on Tuesday in Abuja by NOIPolls noted that while the power sector experienced marginal improvement in 2018 (40 percent) compared with previous two years…
The Federal Ministry of Power, Works and Housing (FMPW&H), is shopping for suppliers to procure about 1.6 million litres of diesel with N400 million budget for the eight gas turbines at the 215 megawatts (MW) Kaduna Power Plant in Kaduna State. Daily Trust reports that at an average retail price of N200 per litre of…
The Transmission Company of Nigeria (TCN), has said that due to its annual preventive maintenance, there will be interruption of electricity supply to consumers receiving supply within its Lagos network specifically in parts of Alimosho, Ejigbo and Agbara, in Lagos and Ogun states. The scheduled is expected to take place at the Ikeja-West 330/132Kv Transmission…
…Announces Cape VII Congress & Exhibition By Margaret Nongo-Okojokwu Speakers at APPO Cape VII Congress and Exhibition include ministers of all African oil producers and global oil and gas explorers, producers and service companies. The conference highlights regional cooperation in African energy with the theme Pathways to Shared Prosperity in the African Petroleum Industry….
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…