By Chris Ochayi The national electricity grid system suffered collapse early Wednesday, but was restored shortly by the Transmission Company of Nigeria, TCN, leaving power generation at 2,900 megawatts afterwards. The TCN, which confirmed the system disturbance, in a statement Wednesday in Abuja noted the incident occurred at 1 am but could not immediately confirm […]

As NNPC, oil firms discuss output cut, allocation By Udeme Akpan Global oil traders are currently awaiting the release of Nigeria’s crude oil lifting programmes for May and June 2020 to guide their decisions, following many choices presented by excess supplies and low prices. Investigation by Vanguard showed that the Nigerian National Petroleum Corporation, NNPC, […]

By Michael Eboh Secretary-General of the Organisation for Petroleum Exporting Countries, OPEC, Mohammad Barkindo, on Saturday, condoled with President Muhammadu Buhari over the demise of Mallam Abba Kyari, describing the late Chief of Staff as an outstanding public servant who is committed to the common good. In his letter of condolence to Buhari, Barkindo disclosed […]

By Michael Eboh The Nigerian Content Development and Monitoring Board, NCDMB, on Thursday, said it has directed the Nigerian Liquefied Natural Gas, NLNG, to evaluate the capabilities of indigenous companies, who are beneficiaries of the Project 100 programme, and engage them in the execution of the Train 7 project and other related services. In a […]

The attention of Asharami Synergy Limited Kenya has been drawn to an inaccurate media report published in the online edition of Kenya’s newspaper of April 14, 2020, under the headline: “Kenya turns away ship with 75m litres of low-quality fuel”. The said report leaned on documents and information provided by unnamed sources to arrive at […]

By Udeme Akpan Despite the spread of coronavirus pandemic and its negative impact on Nigeria’s economy, electricity losses due to lack of distribution infrastructure have dropped by 34 percent. A compilation of data obtained by Vanguard from the Advisory Power Team, office of Vice President Yemi Osinbajo, indicated that the nation recorded 51,398.4 Megawatts, MW, […]

By Sebastine Obasi The Coronavirus (COVID-19) is taking toll on the global oil industry capital expenditure, CAPEX, for exploration and production, E&P, companies as recent report indicates is expected to drop by up to $100 billion in 2020, about 17 percent below 2019 levels, under Rystad Energy’s updated base case scenario of $34/per barrel (pb) […]

Adjusts output by 9.7 mb/d for initial period of two months Puts adjustment at 7.7 mb/d for another six months To be followed by 5.8 mb/d for 16 months Market to respond from April 13, 2020 ― Barkindo By Udeme Akpan THE Organisation of Petroleum Exporting Countries, OPEC, and non-OPEC Meeting has taken far-reaching decisions, […]

…APPO commits to oil cut deal By Udeme Akpan The oil price, expected to leap over the G20 output cut remains low at $26.40 per barrel, as Mexico declined to be part of the initiative targeted at supporting the Organisation of Petroleum Exporting Countries (OPEC) to achieve market stability. A survey of the London market […]

The 11 Electricity Distribution Companies, DISCOs, under the aegis of Association of Nigerian Electricity Distributors (ANED), have affirmed that they will support the move to supply free electricity to all consumers within their network in the next two month.

…queries huge expenditure on moribund refineries …warns of difficulty in mobilising revenue, subsidy payment By Michael Eboh The Federal Government has revealed that it spent N1.5 trillion on fuel subsidy in 2019. Senior Special Assistant to the President on Niger Delta Affairs, Senator Ita Enang, disclosed this in a communiqué in Abuja. The communiqué was […]

 The Ibadan Electricity Distribution Company Plc (IBEDC) says there will be no disconnection of electricity to non-paying customers during this period of lockdown in Coronavirus pandemic.

Following the pipeline leakage at Satellite Town in Lagos, the Nigerian National Petroleum Corporation, NNPC, Saturday, said it has shut down the supply and is currently evacuating petroleum product from the line.

By Sebastine Obasi There are fears that global oil demand will soon plunge by more than 10 percent from the typical 100 million barrels per day, bpd consumption, as the raging coronavirus pandemic otherwise known as covid-19 forces countries into lockdown, according to the world’s biggest independent oil trader, Vitol. “Demand destruction this year depends […]

Electricity Generation Companies (GenCos) comprising gas-fired and hydro stations said they could not generate 3,568 megawatts of electricity on Wednesday due to the unavailability of gas. This information was made known in a daily energy report by the Advisory Power Team, office of the Vice President, a copy of which was obtained by News Agency […]