Damilola Shittu – Abuja The Nigerian Electricity Regulatory Commission (NERC) has issued permits to Meter Asset Providers to provide meters to customers who receive electricity supply from four power distribution companies. According to NERC, the permits were issued to meter asset providers that are to supply meters to customers in the franchise areas of Port…
The nation’s crude oil exports have suffered a setback as Aiteo Eastern Exploration and Production Company Limited declared force majeure on Nembe Creek Trunk Line following a fire outbreak. The NCTL, a major crude oil transportation channel used for export, evacuates crude to the Bonny Crude Oil Terminal. It is 100 kilometres long and has…
Oke Peter with Agency Report The international oil benchmark, Brent crude, surged on Monday to its highest level since late October 2018 after the United States President, Donald Trump, announced the decision to end waivers that allowed some countries to buy crude oil from Iran without facing US sanctions. Brent, against which Nigeria’s oil is…
By Michael J. Coren Elon Musk stood up in front of a room of investors today (April 22) to announce the era of the self-driving car had arrived—at least for Tesla. At “Autonomy Investor Day,” the Tesla Chief Executive Officer (CEO) said it had developed its own self-driving chip designed specifically for Tesla vehicles, and…
Ten oil block licences, including the controversial Oil Prospecting Licence 245, held by international and local firms will expire in 2020 and 2021. The Punch has reported. OPL 245, better known as Malabu oil block, is one of the biggest sources of untapped oil reserves on the African continent with reserves estimated at nine billion…
Nigeria has cut its official selling prices of a basket of May-loading crude oil grades in a bid to attract buyers. The nation’s crude oil has had a difficult time clearing in recent weeks, as offer levels were too high to attract buying interest from European refineries. Nigeria released its official selling prices for May,…
By Tim Daiss Wind power capacity in the United States increased by 8 percent last year, soaring to an impressive cumulative total of 96.5 gigawatts (GW), the American Wind Energy Association (AWEA) said in a new report last week. The report said that the industry had “emerged from 2018 stronger than ever” as it now…
In a move that demonstrates its readiness to deliver efficient services to customers, leading Electricity Distribution Company, Ikeja Electric Plc (IE), has assured customers across its network of its commitment to ensuring hitch-free services during the Easter holiday. In a release signed by the company’s Head of Corporate Communications, Felix Ofulue, Ikeja Electric wishes its…
Prime Minister of Portugal, His Excellency António Costa, has confirmed to meet investors at the Africa Energy Forum (AEF) at the Lisbon Congress Center, Lisbon, Portugal from 11-14th June 2019. According to a release signed by EnergyNet’s Head of Marketing, Amy Offord, Energy Secretary, João Galamba, will also present the tender process for 1.35GW (2019)…
Construction process of the Kandadji hydroelectric project on the Niger River set to cost US $167m, has been officially launched by President of Niger, Mahamadou Issoufou and works has commenced. President Mahamadou Issoufou, who has been personally following this project since the eviction of the Russian company Zarubezhvodstroy which had proved unable to carry out…
