Category: Business News
Business News
Nigeria: Fashola’s 7000 MW power production claim untrue
*Babatunde Fashola, Minister for Power, Works and Housing. At the last monthly power sector operators’ meeting held on Monday, December 11 in Lokoja, Kogi State, Minister of Power, Works and Housing, Babatunde Fashola had claimed power generation had increased from below 5000 megawatts, MW, to 7000MW. “By collective action of Government and all of you,…
Why we subsidize petroleum products -NNPC GMD
By Energy Worth The Group Managing Director (GMD) of the Nigerian National Petroleum Corporation (NNPC), Maikanti Baru, has explained the need to subsidize the petroleum products, saying that the government does not want the pump price to go beyond N145 per liter. Fielding questions from State House corespondents after observing Juma’at prayers at the State House…
TCN announces fire incident at Dan Agundi Substation
*A burnt transformer at the station. By Energy WorthThe Management of Transmission Company of Nigeria (TCN) regrets the fireincident that affecteda 60MVA Transformerat Dan Agundi Substationin Kanoon Thursday, 21st December, 2017 at 1.30pm. This caused power supply constraints to some sections of Kanofor two days. However, TCN in collaboration with Kano Electricity Distribution Company Limited has transferred some of the loads of the…
Fuel scarcity: Senate Committee cuts short break, invite Kachikwu, Baru
*A plenary session of the Senate on Thursday. By Energy Worth The Senate Committee on Petroleum (Downstream) headed by Senstor Kabiru Marafa on Thursday, announced its resumption from the end of year recess by summoning the Minister of State for Petromeum, Dr. Ibe Kachikwu and the Group Managing Director of the Nigerian National.Petroleum Corporations (NNPC)…
NNPC, DPR clampdown on seven illegal filling stations over profiteering
*NNPC GMD, Dr Maikanti Baru (middle) dispensing free fuel to motorists in Abuja during the raid.In a bid to curb diversion of Premium Motor Spirit (petrol) by unscrupulous marketers, a team monitoring fuel distribution made up officials of the Nigerian National Petroleum Corporation (NNPC), Department of Petroleum Resources (DPR) and Nigeria Security and Civil Defence…
NNPC suspends petrol sale over car explosion near station
By Energy Worth The Nigerian National Petroleum Corporation (NNPC), on Wednesday, announced the temporary suspension of products dispensing activities at its mega station along Lagos Road in Port Harcourt due to a fire incident near the station.It said the fire was as a result of a car explosion that occurred outside the station after petrol…
Libya’s oil output revival thwarted by pipeline explosion
Libya’s oil industry revival suffered a setback Tuesday after an explosion at a pipeline carrying crude to the OPEC nation’s biggest export terminal. Oil rallied as a result. Production will drop by 70,000 to 100,000 bopd after the explosion, the state-run National Oil Corp. said in a statement. The pipeline, operated by Waha Oil Company,…
River govt, Shell sign MoU on gas supply
*Shell engineer on field. The Rivers Government and Shell Nigeria Gas (SNG) have signed a Memorandum of Understanding (MoU) for the distribution of gas to industries in the Greater Port Harcourt area and its environs. The signing of the MoU was announced in a statement on Tuesday in Port Harcourt by Mr Bamidele Odugbesan, Shell…
Fuel supply improves in Lagos, scarcity persists in Abuja
By Energy Worth Relief may be on the way for commuters as fuel supply to Lagos shows signs of improvement with queues at filling stations in the metropolis thinning out Tuesday. Vice-President Yemi Osinbajo had spent the Chrismas day touring Lagos depots and filling stations, empathising with distraught Nigerians, many of who had spent long…
NNPC empathizes with Nigerians over petroleum products scarcity …Says pump price remains 145 per litre
*NNPC GMD, Dr Maikanti Baru, addressing newsmen in Abuja, on the current fuel scarcity in the country. The Nigerian National Petroleum Corporation (NNPC) has expressed empathy and strong solidarity with members of the public over the lingering challenge in accessing petroleum products across the country just as it reeled out multiple measures to end the…