Nigeria’s metering gap worsens as unmetered electricity consumers hit 7.8m in March 2022
Innocent ObasiJanuary 12, 2023
By Innocent Obasi The huge metering gap for end-use customers has been identified as a major challenge in the electricity sector as the number of unmetered electricity consumers in Nigeria rose to over 7.8 million as at March 2022. The Nigerian Electricity Regulatory Commission (NERC) made this disclosure in its just-released first quarter 2022 report, […]
Oil climbs as traders grow optimistic over China’s demand recovery
Onome AmugeJanuary 12, 2023
By Onome Amuge Oil prices firmed in morning trading on Thursday after gaining about three per cent the previous day as traders maintained optimism of a rebound in China’s fuel demand. Brent, the benchmark for two thirds of the world’s oil, was up 0.08 per cent at $82.74 per barrel, while West Texas Intermediate (WTI), […]
FG commences 2022 mini bid round to improve offshore acreage
Innocent ObasiJanuary 11, 2023
By Innocent Obasi The federal government has announced the commencement of the 2022 mini bid round aimed at further development of the deep offshore acreages which will be held in line with the Petroleum Industry Act (PIA). The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) made this disclosure in a recent statement signed by Gbenga Komolafe, […]
NUPRC selects 139 bidders for next stage of gas commercialisation programme
Innocent ObasiJanuary 10, 2023
By Innocent Obasi The Nigeria Upstream Petroleum Regulatory Commission (NUPRC) has selected 139 companies out of 300 firms as having qualified for the next round of the Nigerian Gas Flare Commercialisation Programme (NGFCP) 2022. NUPRC made this disclosure in a statement signed by Gbenga Komolafe, the chief executive of the Commission. “NUPRC is pleased to […]
New NDDC board faces jury over genuine development for region
BEN EGUZOZIEJanuary 9, 2023
By BEN EGUZOZIE Wike pushes regional development approach Economists call for Marshall Plan approach As regional masterplan abandoned for years New board promising sweeping changes The jury is now out to see what changes the newly inaugurated board of the Niger Delta Development Commission (NDDC) will bring to bear on the much neglected oil producing […]
Eko DisCo earmarks N18bn expenditure for 2023 capital expenditure
Innocent ObasiJanuary 6, 2023
By Innocent Obasi Eko Electricity Distribution Company (Eko DisCo), one of the eleven downstream operators in the Nigerian electricity market, has allocated the sum of N18 billion for its expenditure in 2023. Tinuade Sanda, the managing director/CEO of the company, made this disclosure while reviewing the company’s 2022 performance and projections for the new year, […]
Kaduna Electric unveils whistle blower platforms
Innocent ObasiJanuary 6, 2023
By Innocent Obasi Kaduna Electricity Distribution Company (KEDC), one of the eleven downstream operators in the Nigerian Electricity market, has launched its whistle-blower platforms where customers can report both staff and customer misdemeanour. Yusuf Usman Yahaya, the managing director/CEO of the company, made this disclosure on Tuesday in Kaduna, saying that the company has provided […]
Energy law group,AEC advocates commonsense approach to promote African oil & gas sector
Innocent ObasiJanuary 5, 2023
By Innocent Obasi The African oil and gas sector will only work when legislators set fair policies and treat oil and gas companies as relevant players driving the economy, according to analysts at African Energy Chamber (AEC). The energy law group, in a report titled“Africa’s common sense energy agenda against covid-19 and the oil price […]
Oil rebounds following 9% New Year drop
Onome AmugeJanuary 5, 2023
By Onome Amuge Crude oil futures gained on Thursday as markets gradually stabilised following days of consecutive declines that resulted in the market losing over 9 per cent from crude benchmarks in the first two days of the new year. Prices were also lifted after Colonial Pipeline Co.,the largest pipeline system for refined oil products […]
Oil futures slips over global economy concerns
Onome AmugeJanuary 4, 2023
By Onome Amuge Oil prices plunged into bearish territory following the International Monetary Fund’s (IMF) report that a third of the world could be heading for recession in 2023, with the three biggest economies, the US, EU and China, seen to be slowing down simultaneously. The IMF’s report was also supported by analysts at insurer […]