Oil bulls are charging into the new year with unprecedented vigor, and the credit goes to OPEC. The signs that the group is winning its tug of war with shale are compelling, and money managers have taken note: Their combined bets on rising prices for West Texas Intermediate and Brent crude reached record levels in…
By Energy WorthThe monitoring team of the Petroleum Product Pricing Regulatory Agency (PPPRA) has embarked on a tour of filling stations across Lagos metropolis to check the excesses of some owners whose dishonest activities are frustrating government’s efforts at easing the fuel crisis being experienced nationwide.The tour which kicked off Saturday, at Maryland, Lagos is…
The Nigerian National Petroleum Corporation (NNPC) has successfully cleared the Premium Motor Spirit (PMS) otherwise known as petrol queues in Abuja and Lagos with the commitment to increase truck-outs to other states to restore normalcy to the petrol supply and distribution across the country.Group Managing Director of the Corporation, Dr. Maikanti Baru, made this disclosure…
Chevron has recently announced a contribution of $500,000 from the Chevron Global Community Fund to the American Red Cross in support of relief efforts for the wildfires in Ventura, Santa Barbara, Los Angeles and San Diego counties. “Chevron, like others in California, wants to help with the response to these devastating wildfires,” said Mike Wirth,…
*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,…
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…
*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…
*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 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…
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…
