By Prince Okafor As the prices of crude continue to leap, due mainly to shortages in the United States and recovery from the coronavirus pandemic, experts have predicted further rise to $90 per barrel, from $78 in the global market. An energy analyst with Goldman Sach Group, Damien Courvalin, said: “While we have long held […]

The Benin Electricity Distribution Company (BEDC) said it had begun mass disconnection of illegal consumers and those with other infractions that could hinder its smooth operation in Edo. The company announced this in a statement on Monday signed by its Managing Director/Chief Executive Officer, Mrs Funke Osibodu, and made available to newsmen in Benin. Osibodu […]

By Udeme Akpan With the prolonged coronavirus, COVID-19, pandemic, many analysts did not expect much from operators in the oil and gas industry globally for some reasons. First, the pandemic culminated in lockdown and low demand for oil and gas, especially in China and India, which constitute Nigeria’s major buyers. Second, it also impacted negatively […]

By Obas Esiedesa Nigeria’s crude oil production in August, 2021, fell by 6.68 percent to 1.239 million barrels per day from 1.323mb/d in July, latest report from the Organisation of Petroleum Exporting Countries (OPEC) has shown. The daily oil production figure excludes condensate oil production which Nigeria is not under obligation to report to OPEC. […]

By Udeme Akpan As part of the agenda required to improve power supply, under the leadership of the Minister of Power, Abubakar Aliyu, experts, have urged the Federal Government to unbundle the Transmission Company of Nigeria, TCN, into Technical, Commercial and Operational entities and constitute the board of the company for optimum operations. In different […]

By Obas Esiedesa Gross revenue of Nigeria’s electricity market declined by 4.45 per cent in the second quarter of 2021, Q2’21, to N176.27 billion against N184.27 billion generated in the first quarter, Q1’21, latest data from the sector has shown. The data from the Power Sector Working Group, however, showed that the N360.54 billion generated […]

By Steve Oko Motorists and petrol consumers in Umuahia, Abia state capital, has cried out as a litre of fuel now sells for N400 in many fuel stations around the town. The 100 per cent exploitative hike in price, according to Vanguard investigations, was as a result of demand by petrol consumers from the neighbouring […]

. By Udeme Akpan THE leadership transition period at Nigeria LNG Limited (NLNG) ended, weekend, in Port Harcourt, Rivers State, with the former Managing Director/Chief Executive Officer, Engr. Tony Attah handing over the symbolic Key to NLNG to his successor, Dr. Philip Mshelbila. At a Farewell and Welcome Ceremony held in honour of the executives, […]

A fuel station owner on Sunday in Abuja charged the Petroleum Tankers Drivers (PTD) arm of the National Union of Petroleum and Natural Gas Workers (NUPENG) to respect court’s proceedings. He told newsmen that failure of the drivers to distribute petroleum products in the southeast amounted to infringement on citizens’ rights to access petroleum products. […]

Acute scarcity of the Premium Motor Spirit, commonly called petrol, has hit Umuahia and Aba, the commercial nerve centre of Abia. The News Agency of Nigeria (NAN) reports that the development has resulted in a sharp increase in the price of the commodity in service stations belonging to independent marketers. NAN correspondents, who monitored the […]