Oil prices rose on Thursday, fuelled by expectations the United States will re-impose sanctions against Iran, a decline in output in Venezuela and ongoing strong demand. Brent crude oil futures were at 74.27 per barrel at 0643 GMT, up 27 cents, or 0.4 percent, from their last close. U.S. West Texas Intermediate (WTI) crude futures…
Royal Dutch Shell on Thursday, reported a 42 percent rise in first-quarter profit, its highest in over three years, boosted by higher oil prices and production. Expectations are high for Shell to continue to generate strong profits and cash flow after the Anglo-Dutch company beat larger rival Exxon Mobil on both fronts in 2017 thanks…
The Port Harcourt Electricity Distribution Company (PHEDC), has explained the power outage currently being experienced in Port Harcourt, the capital of oil rich Rivers State. The News Agency of Nigeria (NAN) has reported. The Port Harcourt Disco said the forced power outage is caused by the tripping of 132KV Alaoji/Afam lines, leading to loss of…
By Energy Worth TellCo Europe Nigeria has announced its plan to introduce into the Nigerian market, TellCoSol Off-Grid Solar Power System, a Swiss technology that aims to electrify the country without stress. TellCo Europe Nigeria is a renewable and clean energy Solutions Company incorporated in Nigeria under the Companies and Allied Matters ACT. The company…
By Oke Peter The Coalition for Affordable and Regular Electricity has called on the Federal Government to once again nationalise the power sector, invest massively in it and introduce democratic and transparent management. The group, in a statement on Friday, described the reversal of the privatisation as the only way the electricity needs of Nigerians…
By Oke Peter There are strong indication that the expected open market price of Premium Motor Spirit (petrol) being imported into Nigeria may have risen above N190 as crude oil price climbed towards a four-year high of $75 per barrel. As of March 20, 2018, when the international benchmark for oil prices, Brent, traded around…
Data from Russia’s Federal Customs Service shows they might be after Germany paid less for natural gas from the world’s largest exporter than most other buyers. Only the UK, which produces most of its own gas, had lower import costs among the biggest offtakers, according to the figures obtained by Bloomberg and detailed in the…
The Nigerian government and the World Bank are working out finance models to fund the growing mini-grid industry in Nigeria. The likely system being planned is a limited subsidy structure that will see mini-grid constructors paid for every connection, Development Finance reports. The Managing Director of the Rural Electrification Agency, Damilola Ogunbiyi, said private funding…
Delta State governor, Senator Ifeanyi Okowa has disclosed that the proposed 400MW combined cycle power plant at Ekrokpe/Ekrejegbe, Ughelli South Local Government Area of the state, will ensure uninterrupted power supply in the near future. He stated this while performing the ground-breaking ceremony of the project recently. The governor expressed hope that the state will…
By Adelabu Jumoke The Handball Federation of Nigeria (HFN) has confirmed that the first phase of the Prudent Energy Premier League will hold from April 27 to May 6 in Abuja.The President of the Federation, Samuel Ocheho disclosed that 12 teams in the male category and 10 teams in the female category will take part…
