Solution to poor electricity beyond recapitalisation of Discos, says electricity group
Businessam StaffJanuary 16, 2020
A group, the All Electricity Consumers Protection Forum, says the solution to the power challenges preventing stable electricity supply in the country lies beyond recapitalisation of the 11 Distribution Companies (Discos). Its National Coordinator, Mr Adeola Samuel-Ilori, made the assertion on Thursday in Lagos while reacting to the push for the recapitalisation of the Discos […]
Oil prices surge as US-China trade deal nears
Kenneth AforJanuary 14, 2020
Kenneth Afor with agency report
TCN to push for Discos’ recapitalisation
Businessam StaffJanuary 13, 2020
Power distribution companies must be recapitalised for Nigeria’s power industry to work and the Transmission Company of Nigeria has vowed to push for the Discos’ recapitalisation this year. Speaking on some of the company’s targets for 2020 in the latest Power Wheel interview of the TCN obtained in Abuja on Sunday, the Usman Mohammed, managing director of […]
Targeting Iraqi oil facilities could disrupt Asia’s crude supplies
Businessam StaffJanuary 10, 2020
Investors are worried about possible attacks on oil facilities in Southern Iraq that could affect crude supplies into Asia, Henning Gloystein from Eurasia Group said. Iraq is the second-largest oil producer in OPEC. A disruption to its output level could make it hard for OPEC to replace the shortfall, Gloystein added. Investors are worried about […]
Power generation hits 4,898.2MW
Businessam StaffJanuary 10, 2020
The total quantum of electricity generated on the national grid since the beginning of 2020 reached a peak of 4,898.2 megawatts, latest industry data obtained on Thursday in Abuja showed. Findings from the federal ministry of power showed that the grid had opened the year 2020 with a peak power generation of 4,678.8MW, while the […]
Global oil prices stabilize after Iran’s retaliation, analysts see further declines
Kenneth AforJanuary 10, 2020
Kenneth Afor
Global oil and gas discoveries hit four-year high
Businessam StaffJanuary 9, 2020
The world’s oil and gas explorers powered ahead and discovered 12.2 billion barrels of oil equivalent (boe) in 2019, the highest volume since 2015, according to estimates from Rystad Energy. Last year recorded 26 discoveries of more than 100 million boe, with offshore regions dominating the list of new oil and gas deposits. Guyana’s success […]
Oil’s bonkers week saw a ‘stunning’ collapse following the Trump-Iran turmoil
Businessam StaffJanuary 9, 2020
We are a week into the new year but oil traders have had a heck of a 2020 so far courtesy of the US-Iran turmoil. After soaring, reaching $70, earlier in the week, Brent crude oil was flat at about $65 per barrel on Thursday morning in London. The price of Brent crude futures contracts […]
US-Iran crisis: Buhari meets NNPC GMD as oil prices rise
Businessam StaffJanuary 8, 2020
President Muhammadu Buhari , on Wednesday, met behind closed doors with the Mele Kyari, group managing director of the Nigeria National Petroleum Corporation, at the Presidential Villa, Abuja. business a.m. reports that the agenda of the meeting was unknown as of the time of filing this report. NAN reports that the meeting came amidst the escalating […]
Oil rises above $70 amid US, Iran face-off
Businessma StaffJanuary 7, 2020
Oil prices surpassed $70 per barrel on Monday for the first time in more than three months as the United States warned of increased threats to energy facilities in the Middle East after the assassination of an Iranian general, Qassem Soleimani, last week. The international oil benchmark, Brent crude, jumped 1.5 per cent to as […]