Wednesday January 28th, 2015
Wednesday January 28th, 2015
Latest

Pump price reduction: Whitewashing a broken fence

  /   in Energy 12:42 am   /   Comments

fuel11

There have been two huge developments in Nigeria’s petroleum sector over the last couple of days. First was the (still not officially confirmed) news that filtered into various international media that oil trading giant Trafigura had ended the Nigerian oil swap deal. The second was the announcement by the Petroleum Minister that the pump price for petrol has been reduced from N97 per litre to N87 per litre.

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Latest

Nigeria’s production down by 160,000 bpd — Alison-Madueke

  /   in Energy   /   Comments

Petroleum minister, Mrs Diezani Alison-Madueke

Nigeria is losing about 160,000 barrels of oil daily due to the activities of pipeline vandals, the Minister of Petroleum Resources, Mrs Diezani Alison-Madueke has said.

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Latest

Petrol price reduction: FG considers increase in marketers’ margin

  /   in Energy   /   Comments

Black market thrives as fuel scarcity hits Lagos. Photo: Bunmi Azeez

The Federal Government has reached an agreement with major oil marketers in the country’ for an upward review of traders/marketers margins in the sale of imported Premium Motor Spirit, PMS or petrol.

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Latest

Vandals attack Trans Forcados pipeline again

  /   in Energy   /   Comments

Gas Pipeline

ABUJA — The Trans Forcados oil pipeline has again been vandalised at Oteghele axis in Bayelsa State by yet-to-be identified persons, causing a crude oil spill in the area.

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Latest

Egbin Power invests N50bn

  /   in Energy   /   Comments

electricity

Residents of Lagos and its environs may be in for improved power supply going by the investment of N50 billion for the restoration of 220 megawatts of unit six of the Egbin Power Plant.

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Latest

Nigerian banks can’t fund oil, gas exploration — Osahon

  /   in Energy   /   Comments

gas tanks

The Director of Petroleum Resources, DPR, Mr. George Osahan, has said that the banking sector is not capable of financing exploration in the oil and gas industry.

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Latest

Scrap NNPC now — Former executives, others

  /   in Energy 1:57 am   /   Comments

Gas Pipeline

Many former management executives of the Nigerian National Petroleum Corporation, NNPC, and other oil companies’ senior executives have called for the scrapping of the Corporation, saying, it has destroyed its values and hindered the growth of the Nigerian oil and gas sector.

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Latest

IOCs to divest 250,000bpd worth of equity in 2015 — PwC

  /   in Energy   /   Comments

gas

Nigeria may not have seen the end of divestments in the oil and gas sector going by the findings of PricewaterhouseCoopers’, PwC, a management and advisory services firm.

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Latest

Oil slump to trigger double-digit inflation in Q1

  /   in Energy   /   Comments

crude-oil-pipe-702x336-436x336

Analysts at BGL have warned that the continuous decline in the prices of crude oil in the international market will trigger a double-digit inflation in Nigeria in the first half of 2015, among other negative consequences.

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Latest

NNPC, PPMC plead with Nigerians to protect oil pipelines

  /   in Energy   /   Comments

Gas pipeline

The Nigerian National Petroleum Corporation, NNPC, and its midstream subsidiary, the Pipelines and Products Marketing Company, PPMC, have called on all Nigerians living in communities close to pipelines to protect them from the activities of vandals.

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Latest

Power: FG woos Chinese firms to transmission

  /   in Energy   /   Comments

Electricity-new

The Minister of Power, Prof. Chinedu Nebo, has tasked the Chinese companies to fill in the gap created by the weak transmission system to boost Nigeria’s capacity to wheel generated power to end users.

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Latest

Why presidential aspirants are silent on energy issues

  /   in Energy   /   Comments

*Jonathan and Buhari

Opinions are varied as to why the two president aspirants have failed to clearly highlight their plans for the energy sector in their campaigns thus far. But stakeholders in the sector have warned the contestants against any plan to increase government’s control of the sector.

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Latest

Oil prices: Nigeria, W’Africa record stable rig count

  /   in Energy   /   Comments

economy

Despite the global six months fall in oil prices, Nigeria and other West African oil producing countries recorded a stable rig count in December.

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Latest

NNPC to collaborate with new Shell MD to reposition sector

  /   in Energy   /   Comments

The Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Dr. Joseph Dawha, has expressed the readiness of the Corporation to work in harmony with the newly appointed Managing Director, Shell Petroleum Development Company of Nigeria, SPDC, Mr. Osagie Okunbor.

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Latest

FG to provide one million meters to consumers

  /   in Energy 9:37 pm   /   Comments

Prepaid meters

The Minister of Power, Prof. Chinedu Nebo, has revealed that the Federal Government has concluded arrangement to facilitate the provision over one million meters to the electricity consumers in its determination to address the issue of estimated billing by the electricity distribution companies, Discos.

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Latest

FG’s threats over metering bounce off DISCOs

  /   in Energy 5:55 pm   /   Comments

Electricity-new

It is yet unclear how it will do it, but the Federal Government has again threatened to sanction forthwith any defaulting company, as it expressed dissatisfaction over the level of meter deployment by electricity distribution companies, DISCOs.

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Latest

Falling prices: Nigeria oil revenue dips by N77bn

  /   in Energy 1:21 am   /   Comments

File Photo: Crude Oil

Continuous decline in the price of crude oil has caused Nigeria to lose as much as N77.2 billion from oil revenue in one month, according to data obtained from the Central Bank of Nigeria, CBN.

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Latest

Power sector below expectation, says LCCI

  /   in Energy   /   Comments

electricity

The Lagos Chamber of Commerce and Industry, LCC1, said the power sector performed below expectations in 2014, as evident in the deterioration of public power supply in the year gone by.

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Latest

Oil spill: Group welcomes Shell N16bn compensation

  /   in Energy   /   Comments

Oil spill

Environment group, Health of Mother Earth Foundation, HOMEF, has lauded the recent agreement by the Shell Petroleum Development Company to pay Bodo community N16 billion for crude oil spills of 2008/2009.

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Latest

Global upstream M&A increases despite oil falls — Report

  /   in Energy   /   Comments

oil-gas

Despite a late-year plunge in crude oil prices, robust merger and acquisition activity (M&A) in the first 10 months of the year fueled an increase in the total transaction value.

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Latest

Oil companies distribute 277m litres of petroleum products

  /   in Energy   /   Comments

Fuel-dispenser

The Nigeria National Petroleum Corporation (NNPC) Retail Limited and independent petroleum products marketing companies distributed about 276.90 million litres of various petroleum products in the 36 States and the Federal Capital Territory (FCT) in September 2014.

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Latest

FMC Technologies to provide subsea equipment for Chevron’s Agbami 3

  /   in Energy   /   Comments

A leading global provider of technology solutions for the energy industry, FMC Technologies has received an order from Star Deep Water Petroleum Limited (a subsidiary of Chevron), operator of the Agbami field, to provide subsea equipment for operations in the field, offshore in the country.

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Latest

2015: FG partners firm over 1 GW solar power capacity devt

  /   in Energy 2:20 am   /   Comments

Jonathan Goodluck

THE Federal Government said it will directly engage with prospective project developers to set up renewable energy projects in the country.

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Latest

TEM: NERC reviews tariff methodology

  /   in Energy   /   Comments

Electricity-new

THE Nigerian Electricity Regulatory Commission, NERC, has approved a review of the Multi- Year- Tariff Order, MYTO, 2 regime ahead of take-off date for a disciplined electricity market by January 1, 2015.

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Latest

BEDC laments harassment of staff in Etsako

  /   in Energy 7:23 pm   /   Comments

Protesting PHCN workers

Benin Electricity Distribution Company (BEDC) has lamented the harassment of its staff by youths of Iyahmo community in Etsako West local Government area of Edo State over a disagreement with its officials and security agents attached to the company.

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Latest

Buyers shun Nigeria’s January crude cargo

  /   in Energy 6:23 am   /   Comments

CRUDE-OIL

Nigerian crude cargoes for January loading are struggling to sell with almost half of the program still available due to very weak demand with an oversupply of sweet crudes, market sources said.

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Latest

Global coal demand to reach 9bn tonnes by 2019

  /   in Energy   /   Comments

File Photo

Global demand for coal over the next five years will continue marching higher, breaking the 9-billion-tonne level by 2019, the International Energy Agency (IEA) said in its annual Medium-Term Coal Market Report just released.

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Latest

Poor financial reporting undermining oil sector growth — NNRC

  /   in Energy   /   Comments

economy

Growth in the Nigerian oil and gas industry will remain elusive over the next couple of years, unless issues of poor financial reporting, insufficient audits and inadequate information are addressed.

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Latest

NALPGAM warns against indiscriminate siting of gas facilities

  /   in Energy   /   Comments

gas

The Nigerian Association of Liquefied Petroleum Gas Marketers, NALPGAM, has warned that the growing indiscriminate siting of gas facilities in different parts of the country poses a great danger to the citizenry.

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Latest

Kaduna Disco to roll out 80,000 meters yearly, says management

  /   in Energy   /   Comments

*The Federal Government has failed on its promise to achieve the target of 6,000 Mega Watts (MW) of electricity generation last December

The management of Kaduna Electricity Distribution Company, KEDC, has said that it will roll out 80,000 pre-paid meters annually within the next five years.

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Latest

Landmark University develops alternative energy product

  /   in Energy   /   Comments

Renewable-energy

Landmark University, in Omu-Aran, Kwara State said it has successfully converted waste materials from its environs to an alternative fuel product that is currently used to power a generating set in the school.

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Latest

Accessibility, affordability, hindrances to LPG market devt

  /   in Energy   /   Comments

Nigerian Liquefied Natural Gas, (LNG) Limited has highlighted accessibility, affordability and acceptability as the major barriers to the development of the Liquefied Petroleum Gas (LPG) market in Nigeria.

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