Category: Energy

Fuel Scarcity Bites Harder Nationwide
February 16, 2022 No Responses

Fuel Scarcity Bites Harder Nationwide

Commuters in Abuja and other parts of the country have continued to experience hardship due to non-availability of Premium Motor Spirit (PMS), also known as petrol, for over a week.  The News Agency of Nigeria (NAN) reports on Tuesday that...
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TCN Takes Delivery Of 15 Power Transformers  
February 14, 2022 No Responses

TCN Takes Delivery Of 15 Power Transformers  

As part of measures to increase power supply in the country, Transmission Company of Nigeria (TCN) has taken delivery of 15 new power transformers   In a statement at the weekend, TCN’s General Manager, Public Affairs, Mrs Ndidi Mbah,  ex...
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Oil Hits Seven-Year High
February 5, 2022 No Responses

Oil Hits Seven-Year High

Oil prices surged to seven-year highs on Friday, extending their rally into a seventh week on ongoing worries about supply disruptions fueled by frigid U.S. weather and ongoing political turmoil among major world producers.Reuters reports that Brent ...
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ExxonMobil Eyes More Long-Term Gas Supply Deals With India
February 5, 2022 No Responses

ExxonMobil Eyes More Long-Term Gas Supply Deals With India

Global energy major ExxonMobil is looking at signing more long-term gas sales deals with India as rising spot prices have added to the appeal of longer duration contracts.“We’re certainly happy to work with our friends and partners in India to ...
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Nigeria’s Fuel Subsidies Back Under The Spotlight
February 5, 2022 No Responses

Nigeria’s Fuel Subsidies Back Under The Spotlight

By LukmanOtunuga, Senior Research Analyst At FXTM — The explosive surge in oil prices over the past few months has been good news to energy producing countries including Nigeria. It is worth keeping in mind that Africa’s largest economy acquires...
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2021:Shell Declares $20.1b Net Profit
February 4, 2022 No Responses

2021:Shell Declares $20.1b Net Profit

Shell surged back into profit last year as oil prices rocketed on recovering demand with economies reopening from pandemic lockdowns. Net profit stood at US$20.1 billion following a loss after tax of US$21.7 billion in 2020, Shell said in a...
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Ikeja Electric To Increase Supply Across Network In 2022
February 1, 2022 No Responses

Ikeja Electric To Increase Supply Across Network In 2022

Ikeja Electric Plc says its 2022 targets include growth in energy which will increase supply across its network.  Already, the electricity Distribution Company has outlined several projects for 2022 across its six business Units – Shomolu, Oshodi, Abule...
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Oil Falls On Profit-Taking
January 27, 2022 No Responses

Oil Falls On Profit-Taking

Oil prices fell on Thursday as investors cashed in profits from the 2per cent gains in the previous session after the U.S. Federal Reserve indicated an interest rate hike in March, leading to a technical correction in surging energy markets....
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NLNG Seeks Partnership With NMDPRA On Domestic Gas Supply
January 26, 2022 No Responses

NLNG Seeks Partnership With NMDPRA On Domestic Gas Supply

The Nigerian Midstream and Downstream Petroleum Regulatory Authority (NMDPRA) has expressed readiness to partner with Nigerian Liquified Natural Gas (NLNG) company towards solving Nigeria’s energy challenges. According to the Authority, the partnership will ...
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Deregulation: FG Introduces Infrastructure Fund For Auto Gas Transition
January 26, 2022 No Responses

Deregulation: FG Introduces Infrastructure Fund For Auto Gas Transition

The Federal Government says it will take into consideration infrastructure fund for the midstream and downstream sector targeted at developing gas infrastructure to actualise Auto Gas Transition.  Chief Timipre Sylva, Minister of State for Petroleum Resou...
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Ardova LPG Storage Facility Gets December Completion Date
January 23, 2022 No Responses

Ardova LPG Storage Facility Gets December Completion Date

By Moses Ebosele, ebosele@hotmail.com   Ardova Plc has performed the groundbreaking ceremony for the construction of a 20,000 metric tonne Liquified Petroleum Gas (LPG) storage terminal at the project site in Ijora, Lagos State. The ceremony sig...
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Dangote Refinery To Reduce Africa’s Petroleum Importation by 36%, Says APPO
January 20, 2022 No Responses

Dangote Refinery To Reduce Africa’s Petroleum Importation by 36%, Says APPO

African Petroleum Producers Organisation (APPO) has said that the establishment of Dangote Oil Refinery will bring about a 36 per cent reduction in the importation of petroleum productions into the continent. Besides, the organisation expressed a belief that t...
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Oil Prices Hit Seven-Year High
January 19, 2022 No Responses

Oil Prices Hit Seven-Year High

The price of oil hit its highest level in more than seven years on Tuesday as traders worried that an attack on a fuel storage facility in the Middle East could affect supply.  A suspected drone attack by Yemeni Houthi...
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EEDC Decries Energy Theft, Meter Bypass In S/East
January 17, 2022 No Responses

EEDC Decries Energy Theft, Meter Bypass In S/East

The management of Enugu Electricity Distribution Company (EEDC), on Sunday, decried the raising spate of outright energy theft and meter bypass within the South-East.  “This development has consistently impacted negatively on the revenue of the company ...
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