Consumers pay N1.2trn for electricity in six months — NERC
By Obas Esiedesa, Abuja Electricity consumers across Nigeria paid about N1.2 trillion for power consumed in the first six months of 2026, according to data released by the Nigerian Electricity Regulatory Commission (NERC). The figure represents revenues collected by the 11 electricity Distribution Companies (DisCos), based on NERC’s monthly commercial performance reports between January and […]
FG owes Egbin Power station N86bn
Total indebtedness of Federal Government to Egbin Power Plc is now N86 billion.
Deal on oil ongutput freeze can be worked out at OPEC meeting
Russian Energy Minister Alexander Novak said an agreement to freeze oil production levels could be worked out at the forthcoming meeting of the Organization of the Petroleum Exporting Countries (OPEC) in Algeria.
Marginal fields contribute less than 4% of oil output
More than 13 years after the award of the first marginal fields’ Oil Mining Leases, OML, and the subsequent award of a total of 30 OMLs, marginal oil fields are yet to make any significant impact in the Nigerian oil and gas industry and are currently accounting for less than four per cent of the country’s crude oil output.
Seven Energy loses $42m to militant attack
Seven Energy Finance Limited, an integrated gas company in Nigeria with operations in the upstream, has raised alarm over the continued attacks of facilities by militants, adding that such illicit acts had impacted on its operations, resulting to a loss in output valued at $42 million in first half of 2016, H1’16.
Local content still under-implemented – MD, Continental Reinsurance
Managing Director of Continental Reinsurance Plc, Dr Femi Oyetunji, has urged the Federal Government to ensure the full implementation of the local content policy in the insurance of oil and gas risks, insisting that the policy is still under-implemented.
