Category: Energy and Power
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Covid-19 Free Energy Units: Proposal is still hanging – AEDC
The Abuja Electricity Distribution Company, AEDC on Wednesday said the proposal to give free energy units to cushion the effects of lockdown was still hanging despite claim by some Nigerians that they got free units. Recall that the House of Representatives and the opposition party, Peoples Democratic Party,PDP had called on electricity distribution companies to…
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Easter: DisCo assures South East zone of improved, steady power supply
The Enugu Electricity Distribution Company (EEDC) has assured people in the South East zone of the country of improved, steady power supply during Easter. The company gave the assurance on Friday, in a statement by its Head of Corporate Communications, Mr Emeka Ezeh. The company said that its technical team was ready to attend to…
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Supply of free electricity to Nigerians still a proposal, says Ikeja Electric
Ikeja Electric (IE) says supply of free electricity to Nigerians during the period of the Coronavirus pandemic is only a proposal which is still undergoing stakeholder reviews on its feasibility. Mr Felix Ofulue, Head, Corporate Communications, IE, made the clarification in a statement issued on Thursday in Lagos. Recall that Mr Sunday Oduntan, Executive Director,…
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Oil hits 18-year low as lockdowns diminish demand
Crude oil fell sharply on Monday with U.S. crude briefly dropping below 20 dollars and Brent hitting its lowest level in 18 years on heightened fears that the global coronavirus shutdown could last months and demand for fuel could evaporate further. U.S. West Texas Intermediate (WTI) crude fell 1.14 dollars or 5.3 per cent to…
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COVID-19: Analyst unbundles implications of falling oil prices on Nigerian economy
Oil and gas analyst, Ronke Onadeko on Wednesday in a tweet chat with the Nigeria Natural Resource Charter (NNRC) and other experts unbundled the implications of falling oil prices on the Nigerian economy as the Coronavirus disease (COVID-19) rage through most countries in the world. Recall that the Nigerian government reduced the pump price of…
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Number of expatriates drop in Nigeria’s oil and gas industries
The Nigerian Content Development and Monitoring Board (NCDMB), says it has recorded significant decrease in the number of expatriates working in oil and gas industries in the country. The Board which is one of the agencies under the Ministry of Petroleum Resources, attributed the trend to the adoption of effective monitoring and regulation mechanisms since…
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NNPC records 16% increase in gas supply to Power in November
The Nigerian National Petroleum Corporation (NNPC) said that the daily average natural gas supply to gas-powered plants in November 2019 increased by 16.53 per cent to 645 mmscfd. The Corporation disclosed this in its Monthly Financial and Operations Reports (MFOR) released in Abuja, on Sunday. The increment, it said was equivalent to power generation of…
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‘We’re not taking our customers back to estimated billing’
The Enugu Electricity Distribution Company (EEDC) has assured that it would not subject any of its customers in the obsolete standalone pre-paid meters in the South-East to estimated billing. The EEDC’s Head of Communication, Mr Emeka Ezeh, gave the assurance in a statement made available to newsmen on Sunday in Enugu. Ezeh noted that the…
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Oil prices rise in quiet Christmas Eve trade amid supply cuts
Oil prices rose on Tuesday in thin pre-Christmas trading after Russia’s energy minister said cooperation with OPEC to support the market would continue and as analysts forecast a second weekly decline in U.S. crude inventories. Brent crude LCOc1 was up 12 cents, or 0.2 per cent, at 66.51 dollars a barrel by 0702 GMT. U.S.…
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Nigeria nears getting World Bank’s $3bn power sector loan
The Minister of Finance, Mrs Zainab Ahmed, on Sunday said the Federal Government’s request for a World Bank loan to finance the power sector was at the verge of being granted. Ahmed stated this at a media briefing on activities of the Nigerian delegation to the just-concluded annual meetings of the World Bank/International Monetary Fund…