Nigeria PIB: Group warns against reduction of communities’ equity to 2.5%

January 28, 2021

Nigeria PIB: Group warns against reduction of communities’ equity to 2.5%

By Onome Amuge   Says it’s insult to Niger Delta oil communities Threatens peace in region Calls for restoration of initial 10% fund   The Centre for Human Rights and Anti-corruption Crusade (CHURAC) has described the 2.5 per cent equity voted for oil-producing community in the recently revised Petroleum Industry Bill (PIB) as an insult to […]

TCN chief calls out DisCos’ funding structure for power industry challenges

January 27, 2021

TCN chief calls out DisCos’ funding structure for power industry challenges

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  

January 27, 2021

Pipeline repairs cost NNPC N75.23bn in one year  

  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

January 27, 2021

Port Harcourt DisCo explains meter distribution strategy

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  

January 26, 2021

Nigeria’s electricity DisCos create imbalance costing N20.5bn in 3 weeks  

  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

Appeal Court suspends order against shutting of SEPLAT headoffice

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

January 21, 2021

OPEC welcomes push for electric vehicles, but says fossil fuel remains strong

 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

Nigeria ramps up domestic LPG consumption above 1MMT, says PPPRA

 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 […]