By Obas Esiedesa Nigeria’s power generation, Monday, dropped by 27 per cent to 3,567.30 megawatts, MW, as at 06hours compared to the 4,557.50MW peak generation at 22hours the previous day. Latest data obtained by Energy Vanguard from the Independent System Operator, ISO, showed that the peak generation on Sunday was also less than the 4,700MW […]

The Minister of State for Petroleum, Timipre Sylva, says the Federal Government is working towards opening micro gas distribution channels across all local governments areas in the country. Sylva, disclosed this at the inauguration of the Nigerian Women for Liquefied Petroleum Gas (LPG) project, organised by the National Centre for Women’s Development (NCWD), Zigma Gas […]

By Ike Uchechukwu – Calabar The Management of the Port Harcourt Electricity Company, PHED, has disclosed that Calabar electricity consumers can now enjoy a steady power supply following the bilateral agreement with the Niger Delta Power Holding Company NDPHC. Vanguard learnt that the development was following customer demands as well as the utmost desire of […]

The Nigerian National Petroleum Corporation (NNPC) has reiterated commitment to its partnership with the Government of Kebbi on renewable energy projects. The NNPC Group Managing Director, Mele Kyari, disclosed this in a statement by the corporation’s Spokesman, Dr Kennie Obateru, in Abuja on Thursday. Kyari spoke when he received the Governor of Kebbi, Sen. Atiku […]

By Obas Esiedesa Nigeria’s total crude oil and condensate production from January to October 2020 fell by 10.25 percent when compared to similar period in 2019, latest data from the Nigerian National Petroleum Corporation, NNPC, has shown. Data contained in the NNPC monthly financial and operational report for November 2020 showed that for the eight […]

By Udeme Akpan There are indications that the capacity utilisation of oil and gas dockyards in Nigeria has dropped to 15 per cent as a result of relatively low oil prices in the global oil market. This appears to be very significant, when the over 60 per cent capacity utilisation of the dockyards in 2014 […]

THE price of Nigeria’s Bonny Light, Monday, dropped to $61.54 per barrel over fears of Coronavirus pandemic resurgence in India, a major importer of the nation’s crude.

By Udeme Akpan The price of Nigeria’s Bonny Light, Tuesday, dropped to $62.05 per barrel from $64.50 in the international market on the heels of the reopening of the Suez Canal for business. The blockage of the Canal by a container vessel for over one week had scuttled the free shipment of goods, especially crude […]

Seplat Petroleum Development Company Plc, Seplat, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange, NSE, and the London Stock Exchange, LSE, has priced its offering of $650 million in aggregate principal amount of senior notes due 2026. The notes priced at a yield of 7.75%, representing a significant pricing reduction […]

By Udeme Akpan As consumers groan under the weight of high petrol prices, an expert has urged fuel consumers to convert to gas, arguing that it is cheaper than petrol and diesel. In an interview with Vanguard, the Managing Director, Banner Energy, Mr Nuhu Yakubu, who noted that the Federal Government’s policy has impacted positively […]

By Udeme Akpan & Sebastine Obasi Investors have been urged to deepen their investments in gas in order to attract maximum benefits to Nigeria’s economy. Speaking on, “Deregulation and Sustainable Natural Energy Future Through Natural Gas”, at a webinar organised by the National Association of Energy Correspondents, NAEC, weekend, managing director, Rain Oil Limited, Dr. […]

By Udeme Akpan THE Nigeria LNG train 7 will attract $10 billion into Nigeria’s economy, according to the Nigeria LNG Limited. In his Goodwill message, presented at the Nigeria International Petroleum Summit (N.I.P.S) Pre-Summit Conference, titled: The Decade of Gas, in furtherance of the Federal Government initiative that declared January 1, 2021, to December 31, […]

By Ediri Ejoh The liquidity situation in Nigeria’s power sector has continued to witness downturn as the indebtedness of the Distribution Companies, DISCOs to Nigerian Bulk Electricity Trading Plc, NBET, increased to N510.53billion in 2020, indicating an increase of 11.2 per cent compared to N453.14billion, recorded in the corresponding period of 2019. This debt profile […]

The OPEC+ grouping of oil producers will hold its third ministerial summit of the year via videoconference Thursday to discuss output cuts in the face of fresh price volatility. “The expectation is that the group will hold production steady also in May given current physical oil market weakness,” according to Bjarne Schieldrop, analyst at SEB. […]

The Nigerian National Petroleum Corporation (NNPC) says it recorded an increase of ₦24.19billion trading surplus in December 2020, compared to the ₦13.43billion surplus recorded in November of the same year. The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the Month of December 2020, released in Abuja, on Thursday. It said […]