TCN chief calls out DisCos’ funding structure for power industry challenges
Tobias PiusJanuary 27, 2021
By Tobias Pius Edmund Eje, the general manager, market operations, Transmission Company of Nigeria (TCN), has identified the funding structure sourced by investors in the electricity distribution companies (DisCos) as a major clog in the wheel of the electricity supply industry in the country. According to Eje, DisCos used short term funds for long-term […]
Pipeline repairs cost NNPC N75.23bn in one year
Tobias PiusJanuary 27, 2021
By Tobias Pius Repairs and maintenance of vandalised and leaking pipelines conveying crude oil from wells to flow stations cost Nigeria’s state-owned oil company, Nigerian National Petroleum Corporation (NNPC), N75.23 billion between September 2019 and September 2020, a report by the corporation has shown. Under the heading, “Pipelines Repairs and Management Cost” in […]
Port Harcourt DisCo explains meter distribution strategy
Tobias PiusJanuary 27, 2021
By Tobias Pius Port Harcourt Electricity Distribution Company (PHED), which holds the franchise to service AkwaIbom, Bayelsa, Cross River and Rivers states, has said that it would meter customers in the aforementioned states in phases. The company made this known after it took delivery of just 77,000 prepaid meters supplied by the Federal Government […]
Nigeria’s electricity DisCos create imbalance costing N20.5bn in 3 weeks
Tobias PiusJanuary 26, 2021
By Tobias Pius Almost N20.5billion in revenue was lost by Nigeria’s power sector in the first three weeks of the year – January 1 – 22, 2021 – according to data released by the Federal Ministry of Power, with operators still complaining about energy rejection by distributors. A total of 1,941 megawatts-hour/hour of […]
Appeal Court suspends order against shutting of SEPLAT headoffice
Ben EguzozieJanuary 23, 2021
Seplat Petroleum company has announced that the Court of Appeal sitting in Lagos on Friday suspended the order of interlocutory injunctions made by the Lagos Federal High Court that led to the sealing of the oil company’s corporate head office situated in a building located at 16A Temple Road, Ikoyi, Lagos, a building which is […]
OPEC welcomes push for electric vehicles, but says fossil fuel remains strong
Tobias PiusJanuary 21, 2021
By Tobias Pius The Organisation of Petroleum Exporting Countries (OPEC) appears to be unfazed by the imminent threat electric vehicles (EVs) poses to global oil, despite applauding its increased adoption, calling it a positive approach towards reducing emissions and sustaining eco-friendly environments, but that the world itself would not easily be weaned off fossil fuel […]
Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA
Chris IkosaJanuary 20, 2021
By Tobias Pius Nigeria’s Petroleum Products Pricing Regulatory Agency (PPPRA) has termed Nigeria’s domestic Liquefied Petroleum Gas (LPG) consumption as laudable following figures that clearly indicated a steady and sustained growth pattern, as 2020 saw LPG consumption for the first time in the nation’s history reach one million metric tonnes threshold following an appraisal of […]
TIPP Oil, German lubricant maker, targets 2021 Nigeria launch with eco-friendly scheme
Chris IkosaJanuary 19, 2021
By Tobias Pius TIPP OIL, Germany’s leading premium lubricants producer, has restated its commitment and determination to fully launch into Nigeria’s market this year despite the challenges faced in 2020. The company is also reassuring that its re-bottle deposit scheme, that comes with its quality lubricants, will surely change the game in the Nigerian lube […]
Nigeria aims for cost efficiency, safety, value in oil sector with centre of excellence
Tobias PiusJanuary 19, 2021
By Tobias Pius President Buhari launches NOGEC Thursday To host 6 sub-industry centres – SeRAS, CCC, NIORC, DRC, CDC, IDMAC Nigeria’s Department of Petroleum Resources, (DPR), as part of efforts to boost the operations of the country’s petroleum industry and drive down the cost of oil and gas production, has disclosed that […]
Sustainable energy: Minister estimates solution to cost Nigeria $4bn in annual spend
Ben EguzozieJanuary 19, 2021
Sustainable energy Minister estimates solution to cost Nigeria $4bn in annual spend Nigeria, Africa’s biggest economy with a GDP size of over $475 billion, would require at least $4 billion annually to be able to provide universal access to sustainable renewable energy for its citizens, the minister of state for power, Goddy Jedy-Agba said […]