Oil climbed as top crude-exporting countries suggest they may extend output curbs beyond this year, adding momentum to a monthly rebound. Futures in New York posted a 5.4% increase in March, erasing February losses fueled by mounting American stockpiles. Some OPEC producers and allies are considering prolonging efforts to drain a global supply glut up…
The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) and its sister union, the National Union of Petroleum and Natural Gas Workers (NUPENG), say they have no reservations against the five percent fuel levy in the harmonised PIGB recently passed by the National Assembly. Recall that the National Assembly Conference Committee last week…
Nigeria and other countries will spend about $811 billion on 615 upcoming oil and gas fields in the next eight years, a research conducted by data and analytics firm- Global data, has revealed. The money, would be expended on capital items, especially conventional oil, heavy oil, oil sands, and unconventional oil projects, the report said….
Edo State governor, Mr Godwin Obaseki, has said the successful partnership between the state government and developers of Edo Azura Power Project has further demonstrated how much other investors can achieve if they invest in the state. Godwin Obaseki made the submission during an interview with journalists in Benin City, Edo State capital, noting, “The…
The indebtedness of the Nigerian Bulk Electricity Trading Plc (NBET) to electricity Generation Companies (Gencos), has reached N42.15 billion as at January 2018. NBET was only able to pay the GenCos ₦6.08 billion out of the ₦48.23 billion for the January invoices, which represents 12.62 per cent of the total obligation. NBET, which is charged…
Energy Worth with Agency Report Export of electricity to two neighbouring countries, Niger and Benin Republics, from Nigeria is expected to increase to 1,540 megawatts by 2025 from 387mw in 2020, according to a document obtained from the Ministry of Power, Works and Housing. The document, entitled: ‘Transmission Expansion Plan’, revealed that 780MW and 760MW…
The Administrator of National Judicial Institute, Honourable Justice R. P. I. Bozimo has implored judges of both the Federal and States High Courts to be proactive and expeditious in handling cases relating to electricity crimes, giving the decisive role the power sector plays in the nation’s socio-economic development. The legal luminary made the assertion in…
Over 30 global organisations have signed a petition against the construction of the gas pipeline project that will stretch along the West African coast from Nigeria to Morocco. The project was first announced following a meeting between King Mohammed VI and Nigerian President Muhammad Buhari, on the sideline of the UN Climate Summit COP22 in…
The Minister of Science and Technology Dr Ogbonnya Onu has said the Federal government is vigorously exploring alternative sources of energy for the country, Daily Trust has reported. Dr Onu said this when the executives of International Energy Charter Mission Team on Energy Investment Risk Assessment paid a courtesy call on him in his office…
There was a pandemonium on Wednesday in some communities near to Shiroro Hydroelectric Power Station when some protesters blocked Shakwut-Shiroro Road over the failure of the Abuja Electricity Distribution Company (AEDC) to provide them electricity. The affected communities, according to The Herald, included Sarkin-Pawa, Erena, Shakwatu Zumba, Mutumdaya, among others. The protesters blocked the road…
