Oil prices surged Monday and stock markets traded mixed as investors weighed worries over high inflation against the reopening of virus-hit economies. After Asian indices closed mostly lower, with sharp losses in Hong Kong and Shanghai, Europe pushed higher approaching the mid-way point. Benchmark oil contract Brent North Sea crude, which has been rising strongly […]

Jos Electricity Distribution Company (JEDC) says 19, 317 households have so far been metered in Gombe state, according to Dr Adakole Elijah, JEDC’s Head of Corporate Communications. Elijah, who disclosed this in an interview with the News Agency of Nigeria (NAN) in Gombe, added that efforts were ongoing to meter more households, in line with […]

Oil prices jumped higher Thursday after OPEC+ countries allowed crude production to rise only slightly, while US stocks unwound over concerns about rising inflation despite the Federal Reserve’s attempt to allay fears. After a videoconference lasting less than three hours, the OPEC groups of oil producers and its allies decided to extend output cuts enacted […]

The Federal Government is considering a 20 per cent hike in the cost of freighting petrol across the country, as part of measures to boost the revenue of transport owners.

Oil prices rose on Wednesday, boosted by expectations that OPEC+ producers might decide against increasing output when they meet this week. Signs of progress in the coronavirus vaccine rollout in the United States gave further support. Brent oil was up $1.28, or two per cent, to $63.98 a barrel by 1050 GMT. U.S. West Texas […]

The Nigerian power sector yesterday received another boost as the Transmission Company of Nigeria, TCN, disclosed the attainment of new peak transmission.

By Prince Okafor Nigeria’s power sector is set for a boost, following the development of the Ashama 200 megawatts solar PV power plant by B&S Power Holding Pte, a Singapore-based renewable energy corporation. Energy Vanguard gathered that the Ashama 200 MW Solar PV Power Plant, located in Aniocha, Delta State, is the largest solar energy […]

By Udeme Akpan Stakeholders have urged the Federal Government and others to invest more in the Liquefied Natural Gas, LNG, as it becomes obvious that other nations have left the nation behind with its 22 million tonnes, MT, yearly capacity. Investigation by Energy Vanguard showed that this is based on the awareness that the expansion […]

Some stakeholders in the South–East of Nigeria have blamed environmental pollution in some parts of the country for a low life expectancy of Nigerians, a survey by the News Agency of Nigeria (NAN) has revealed. An environmentalist and university lecturer, Professor Mike Abaribe of Imo State University, noted that residents of communities with a high […]

Aims at strengthening the currency, economy By Udeme Akpan THE Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira. This is part of measures adopted to strengthen the currency and by extension the nation’s economy. ALSO READ: CBN insists on foreign currency Diaspora remittances The governor, Central […]

THE Federal Government has started considering new options in delivering prepaid meters to 60 per cent of consumers still being exploited through estimated billing in Nigeria.

The management of the Niger Delta Power Holding Company, NDPHC, has disclosed that the company has entered a bilateral agreement with the Republic of Togo to supply the country with 70 Megawatt, MW, of electricity under the Power Purchase Agreement, PPA.

By Obas Esiedesa – Abuja The poor state of infrastructure in petroleum downstream sector has been blamed on years of under-pricing the pump price of premium motor spirit, petrol, through subsidy payment. With government-owned refineries, pipelines and depots in a bad state and not functional, Nigeria has had to depend on importation, and trucking by […]

Stakeholders have expressed fears over increasing tanker accidents in the downstream sector of Nigeria’s petroleum industry, stressing that it could further impact negatively on the economy.

THE Nigerian National Petroleum Corporation, NNPC, has cut down losses by 53 per cent in the first 10 months of 2020, due to none production in the nation’s four refineries, according to data obtained from its October 2020 Monthly Financial and Operations Report, MFOR.