The Federal Government plans to sell the five electricity Distribution Companies (DisCos) managed by banks and Asset Management Company (AMCON) to technical power operators by July 2024. Minister of Power, Adebayo Adelabu, disclosed this during an oversight visit of the Senate Committee on Power to the ministry in Abuja on Monday. The Nigerian government, alongside […]Read More
NERC has handed over regulatory control of the Enugu electricity market to the Enugu Electricity Regulatory Commission (EERC), which is operated by the state government starting May 1, 2024, marking the first time NERC has transferred regulatory authority to a state government electricity regulator. According to NERC’s statement signed by Sanusi Garba and Dafe Akpeneye, […]Read More
The Nigerian National Petroleum Company Limited (NNPC Ltd) and its Joint Venture partner, First Exploration and Petroleum Development Company Limited (First E&P), have started oil production from OML 85, also known as Madu Field. The field, situated in shallow waters offshore Bayelsa State and operated by First E&P, is anticipated to produce an average of […]Read More
The World Bank and the African Development Bank (AfDB) have announced plans to come together and provide access to energy for 300 million Africans by 2030. According to the Banks, the plan will cost around $30 billion and is to be funded by the World Bank through the International Development Association (IDA) and the AfDB […]Read More
Heineken Lokpobiri, the Minister of State for Petroleum Resources, has said that the federal government is on the verge of approving the acquisition of Mobil Producing Nigeria Unlimited (MPNU) assets by Seplat Energy. He said on Tuesday that President Bola Tinubu is committed to the closure of the acquisition at the Facts Behind the Figures […]Read More
The Dangote Petroleum Refinery is now selling Automotive Gas Oil (AGO), popularly known as diesel, at a discounted price of N1000 per litre. This marks a decrease from the previous price of N1200 per litre set by the refinery two weeks ago. Aliko Dangote, Chairman of the Dangote Group, had previously stated that the refinery […]Read More
The Federal Government of Nigeria is spending N600 billion every month on petrol subsidies. This is according to Gabriel Ogbechie, Rainoil Limited CEO. Ogbechie made this statement on Tuesday during the Stanbic IBTC Energy and Infrastructure Breakfast Session held in Lagos. He said that with Nigeria’s daily fuel usage at 40 million litres and the […]Read More
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has set up a new template for the supply of crude oil in Nigeria. The development is to boost the activities of local refineries as well as ensure the availability of petroleum products. Gbenga Komolafe, the CEO of of NUPRC, who made this known during a press briefing in Abuja […]Read More
The Transmission Company of Nigeria (TCN) said it has restored the national grid which the latest collapse the company blamed on a fire incident at the Afam power generating station. The grid, which collapsed at 02:41am on Monday, left the country with 64.70 megawatts, leaving many in darkness. Ndidi Mbah, general manager, public affairs, TCN, […]Read More
Nigeria’s vast Dangote refinery recently shared videos on the social media platform X (formerly Twitter), showcasing the loading of fuel onto both ships and trucks. In one video, the Golden Lavender vessel can be seen being loaded with diesel. Ship-tracking data from Bloomberg indicates that the tanker’s draft readings suggest recent cargo intake. Shipping information […]Read More
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