By Energy Worth THREE vandals of Enugu Electricity Distribution Company (EEDC) property have been convicted and sentenced to three years imprisonment by Justice I. B. Garfai at the Federal High Court 1, Awka, Anambra State. It was gathered that they were sentenced to three years imprisonment for conspiracy, unlawful damage and stealing of electricity cables…
Chief Executive Officer and Managing Director of Eko Electricity Distribution Company (EKEDC), Mr. Adeoye Fadeyibi, at a Customers Engagement Town Hall Meeting held on Friday, July 6th stated that the company was recording huge revenue losses in Lekki due to meter bypass and energy theft. According to Fadebiyi, amongst electricity consumers in the Lekki area,…
Except prompt actions are taken, the country’s power sector may soon grind to a halt. No thanks to the over N1t debt owed power generating companies popularly known as GENCOs, gas suppliers and the plunging electricity generation, which dropped from 5, 222.3megawatts (mw) attained earlier this year, to 3, 689.39mw as at Tuesday, July 3,…
By Energy Worth The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has announced a profit after tax of N6.11bn for the Nigerian Gas Processing and Transportation Company (NGPTC), a subsidiary of the NNPC. He said the PAT was recorded in the NGPTC’s first year of operation under the new structure, which had…
By Nick Cunningham The U.S. government has continued its attempts to shut down Iran’s oil exports, and in recent days Iranian officials responded by threatening to block the Strait of Hormuz. Such an outcome is highly unlikely, but the war of words demonstrates how quickly the confrontation is escalating. Oil prices spiked in late June…
