Crude oil futures inched higher on Friday as bearish pressures from US inventory builds and the resumption of Iranian nuclear talks ran up against the ongoing narrative of a severe oil market deficit. December Brent futures contract was up 21…
The Lagos State Government has raised concerns over the country’s inefficient and over-centralised electricity supply system, resulting in the State’s residents generating over 4,500MW through the use of generators. The State is further considering other measures to support growing commercial…
The Federal Government through the Ministry of Power says it is committed to implementing its key power projects to give Nigerians more access to electricity. This was disclosed by Nigeria’s Minister of Power, Mr Abubakar Aliyu in a statement in…
Rainoil Ltd has decried the recent disruption of activities at its retail station located at Admiralty Way, Lekki recently by officials of Quest Petroleum Limited, purported owners of Ascon Oil Limited, accompanied by several armed mobile policemen. The firm claimed…
The Saudi Arabia’s Minister of Energy, Prince Abdul Aziz bin Salman held talks with Nigerian Minister of State for Petroleum Resources, Timipre Sylva in the capital, Riyadh, on Wednesday. During the meeting, they discussed the global oil market, and strengthening…
The Kano Electricity Distribution Company (KEDCO) has appealed to vandals to stop stealing its equipment and installations. This was disclosed in a statement by KEDCO’s Head of Corporate Communications, Mr Ibrahim Shawai, on Thursday, in Kano. He warned that a…
The Gas Exporting Countries Forum (GECF) and Organisation of Petroleum Exporting Countries (OPEC) have expressed commitment to collaborate with member countries to ensure stability to global energy, oil and natural gas markets. Secretary-General (GECF) Dr Yuri Sentyurin, who made the…
The Nigerian National Petroleum Corporation Limited, NNPC, has disclosed that about $3.097 billion investment opportunities exist in Condensate refineries and that the Corporation would require about $1.6 – $2.7 billion to improve the supply and distribution petroleum of products. The…
By Titus Atondu, Makurdi Benue State Governor, Samuel Ortom has expressed optimism that the inauguration of Hydroelectric Power Producing Areas Development Commission, (HYPPADEC) will help address ecological challenges in states under its purview, which Benue State is not in exception…
The European Union energy ministers clashed at an emergency meeting over how to cushion consumers and companies from soaring power and natural gas prices, with political and legal constraints leaving little room for immediate action. At an emergency meeting in…
