Energy

The Petroleum Products Pricing Regulatory Agency (PPPRA), has assured Nigerians of uninterrupted petroleum products supply and distribution during the festive period and afterwards. Abdulkadir Saidu, Executive Secretary of the PPPRA  said the agency was working hard with other agencies of government to ensure that there was no shortfall in the supply and distribution of petroleum […]

The Organization of Petroleum Exporting Countries (OPEC) might prevent a price-depressing build in oil inventories, once it attains 100 percent compliance with its new crude oil supply cut accord, while also counting on continued production declines in Iran and Venezuela. OPEC and 10 allies led by Russia agreed Friday to a six-month, 1.2 million barrels […]

Oil investors are concerned about supplies due to booming U.S. output and uncertainty over how OPEC and its allies will implement production cuts may have reason to worry about demand as well. A look at refining profits in Asia shows consumption may not be keeping with supplies in the world’s top oil-consuming and importing region. […]

China’s crude oil imports surged to an all-time high of 10.43 million barrels per day in November, as they beat the previous record for highest crude imports set in October, according to Chinese customs data, according to a report by Reuters. Chinese crude oil imports last month were up by 8.5 percent compared to November 2017 […]

The board of directors of UAC of Nigeria PLC has announced the appointment of Omolara Elemide as acting group CEO following the retirement of Abdul Akhor Bello. The conglomerate announced that Elemide who is currently the executive director, corporate services would assume office on the 1stof January 2019, as the search for a substantive group […]

Abuja Electricity Distribution Company (AEDC) has signed a memorandum of understanding (MoU), worth $2 billion with Power Analytics & Solutions, an indigenous investor, and CEC Africa Investment to strengthen and expand its network. Speaking at the MoU signing, Tony Ezeani, the Director of Power Analytics & Solutions said “the MOU is both for financial and […]

France has revealed its plan to close 14 nuclear reactors by 2035, triple onshore wind capacity and cut fossil fuel use in energy by 40 percent by 2030, President Emmanuel Macron said on Tuesday, as the country embarks on an aggressive energy transformation plan against the background of protests against planned fuel tax increases. “Fourteen […]