By Oke Peter Rural Electrification Agency (REA) on Wednesday handed over two completed solar hybrid mini-grid plants in Abuja and Lagos. Its Managing Director, Ahmad Salihijo Ahmad, made this known in a press release to journalists. According to the statement, the two other completed solar hybrid mini-grids are slated to be handed over on Thursday…
By Oke Peter The operator of Kainji and Jebba hydropower plants located in Niger State, Mainstream Energy Solution Limited (MESL) has provided N500m worth of medical support to the Federal Capital Territory, Niger State and selected communities in other states. For the FCT, the Managing Director of the power generation firm, Lamu Audu, said MESL…
By Godwin Emefiele As many people are now aware, the outbreak of the Novel Coronavirus Disease (COVID-19) in China has rapidly permeated and profoundly changed the world. While this crisis is first and foremost a public health issue, which has claimed the lives of over 123,600 people worldwide, and counting, the economic damages are unprecedented…
During the public holidays, the alliance of OPEC+ producers, G-20 energy ministers and other oil producers reached a landmark deal which could cut close to 15.0mb/d from global oil supply. The details of the deal include; A 9.7mb/d oil production cut from OPEC+ producers for two months ending in June 2020. Over the next six…
OPEC and allies led by Russia agreed on Sunday to a record cut in output to prop up oil prices amid the coronavirus pandemic in an unprecedented deal with fellow oil nations, including the United States, that could curb global oil supply by 20%. Measures to slow the spread of the coronavirus have destroyed demand…
Mexico is the lone holdout in a global deal to save the oil and gas industry. US set to see production decline In an historic effort to power the oil and gas industry out of its worst tailspin in its 100-year history, the United States, Canada and other G20 nations are backing the OPEC+ group…
The Minister of Power, Mr Saleh Mamman, has said that the Federal Government has yet to take a decision to supply free electricity to Nigerians for two months. The minister’s statement came after power distribution companies said that the two-month free electricity which they announced on Wednesday would be paid for by the National Assembly…
U.S. West Texas Intermediate and international benchmark Brent crude oil futures are likely to firm next week after OPEC and its allies agreed to a historic production cut agreement on Friday. The reason we’re not too enthusiastic about a major breakout to the upside or change in trend is because dealmakers hit a snag and…
By Oke Peter Sequel to the declaration of COVID-19 pandemic as a world-wide emergency, organiser of the global investment meeting for Africa’s power, energy, infrastructure and industrial sectors, Africa Energy Forum (AEF), EnergyNet Limited has identified with the victims of the pandemic across the world. In a statement signed by its Head of Marketing, Amy Offord,…
In compliance with the directives of the Honourable Minister of State for Petroleum Resources on PMS pricing, the Corporation has reviewed its Ex-coastal, Ex-depot and NNPC Retail pump prices accordingly. Effective from today, 19th March 2020, NNPC Ex-Coastal price for PMS has been reviewed downwards from N117.6/litre to N99.44/litre while Ex-Depot price is reduced from…
