Category: Energy and Power
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62.63% electricity consumers on estimated billing – NERC
The Nigerian Electricity Regulatory Commission (NERC) on Friday said 62.63 per cent of electricity consumers in the country were on estimated billing as at September 2020. NERC stated this in the 2019 to Quarter 3, 2020 Nigerian Electricity Supply Industry (NESI) Key Financial and Operational Data, obtained from its website in Lagos. The document showed…
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Major reasons we are awarding marginal fields – DPR
With the recent shortlisting of 161 indigenous companies to advance to the next and final stage of the bid round process for 57 marginal oilfields in the country, the Nigerian oil and gas industry is expected to witness tremendous growth in no distant time. The Department of Petroleum Resources (DPR) made this known in a…
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BREAKING: FG orders reversal of electricity tariff adjustment
The Minister of Power, Mr Saleh Mamman, has directed the Nigerian Electricity Regulatory Commission (NERC) to inform all Electricity Distribution Companies(DISCOs) to revert to tariffs that were applicable in Dec. 2020. Mr Aaron Artimas, Senior Special Adviser, Media and Communications to the Minister of Power, made this known in a statement in Abuja on Thursday.…
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Electricity tariff: We only made minor adjustments – NERC clarifies
The Nigerian Electricity Regulatory Commission (NERC) has clarified that it did not hike electricity tariff by over 50 per cent. Rather, the NERC clarified that the rates for service bands A, B, C, D and E were only adjusted by NGN2.00 to NGN4.00 per kWhr. NERC in a statement released by its spokesman, Micheal Faloseyi…
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BREAKING: FG again hikes electricity tariff by 50%
The Nigerian Electricity Regulatory Commission (NERC) has approved an over 50% hike in electricity tariff effective January 1, 2021. This is contained in a revised Multi Year Tariff Order (MYTO) signed by the new Chairman of NERC, Engr. Sanusi Garba, on December 30, 2020. The new tariff hike regime is to be paid by customers…
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Bayelsa seeks revalidation of its Atala marginal oilfield OML 46
The Bayelsa government says it is pursuing the revalidation of the licence for the Atala Marginal Oilfields on Oil Mining Lease (OML) 46 earlier revoked by the Department of Petroleum Resources (DPR). Mr Ayiba Duba, Bayelsa Commissioner for Information, who made this known on Monday in Yenagoa, said the government is pursuing an amicable resolution…
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Oil climbs as U.S. inventory draw, Brexit deal hopes
Oil extended gains on Thursday in light holiday trade as a drop in the U.S. stockpiles spurred demand hopes, while hints of an imminent Brexit deal underpinned investors’ risk appetite. Brent crude futures rose 17 cents, or 0.3 per cent, to $51.37 a barrel by 0745 GMT, while U.S. West Texas Intermediate crude increased 10…
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BREAKING: FG signs gold production agreement with a $10 billion company in Egypt
The federal government has signed a gold production agreement with La Mancha, a Luxembourg-Incorporated Private Gold Development and Mining Company that has a market capital in excess of $10 billion. La Mancha signed the expression of interest agreement with the Ministry of Mines and Steel Development to invest in gold mining in Nigeria. The signing…
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See some safety rules to obey while handling petroleum products
Mrs Roseline Wilkie, the Zonal Controller of Department of Petroleum Resources (DPR) in Imo, on Friday advised petrol station managers to observe environmental safety rules in their premises. Wilkie gave the advice in Owerri on Friday when she visited some petrol stations to create awareness and monitor compliance to DPR rules and regulations on sale…
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‘Zamfara gold sales may hamper passage of PIB’
Financial expert, Mr Pedro Omontuemhen has argued that the sales of gold by the Zamfara State Government to the Central Bank of Nigeria (CBN) may hamper the passage of the Petroleum Industry Bill (PIB). TheNewsGuru.com (TNG) reports Omontuemhen expressed this fear on Monday at the Pre-Conference Workshop held ahead of the 38th Annual International Conference…