Energy

The Department of Petroleum Resources (DPR) Field Office in Enugu says petroleum marketers who sell products above government approved prices risk having their stations sealed.

Oil markets fell on Thursday despite a surprise decline in U.S. inventories, but the price drops were tempered by a smaller-than-expected reduction in gasoline stocks and ongoing Organisation of Petroleum Exporting Countries (OPEC)-led supply cuts.

Mojec Meter Assets Management Company, a subsidiary of Mojec International Limited, has announced a partnership with some banks to provide retail financing for the rollout of prepaid meters to its customers within the coverage area of its partner distribution companies (DISCOs) across the country.

Deputy Senate President, Ike Ekweremadu, has said that, as an oil producing country, sale of electric cars in Nigeria should be frustrated.

The Department of Petroleum Resources (DPR) in Sokoto State has restated its commitment to checkmate hoarding, diversion and selling of petroleum products above the control price.

Prof. Babatunde Rabiu, Director, Centre for Atmospheric Research, National Space Research and Development Agency (CARNASRDA) said diversifying energy could boost development and enable Nigeria attain the Sustainable Development Goals (SDGs) by 2030.

The Average price paid by consumers for premium motor spirit, PMS, popularly known as petrol, remains steady, as the price of kerosene, diesel others increased in the month of March 2019.

Brent oil slipped to around 71 dollars a barrel on Tuesday, pressured by expectations of higher U.S. inventories and concern about Russia’s willingness to stick with OPEC-led supply cuts.

The Nigerian National Petroleum Corporation (NNPC) says that the national average daily crude oil production stood at about 2.019 million barrels in 2018.

The Ibadan Field Office of the Department of Petroleum Resources (DPR) has restated its commitment to check the hoarding and diversion of petroleum products.

Gov. Atiku Bagudu of Kebbi, on Monday urged to customers to pay the Kaduna Electricity Distribution Company (KEDCO) regularly in order to enjoy 24-hour electricity supply.

Oil prices nudged lower on Monday after international benchmark Brent hit a fresh five-month high in the previous session, with investors eyeing mixed signals on global supply.

Senate Committee on Power, Steel Development and Metallurgy has recommended a jail term of 10 years, without an option of fine, if found guilty to have conspired, counselled or accepted to procure or to hold in custody, stolen parts, components or pieces of a public power equipment.

Nigeria’s Finance Minister Zainab Ahmed has reiterated government’s resolve not to remove fuel subsidy. She made the emphasis against the backdrop of long queues emerging at some filling stations amid the fear that a removal was imminent.

Workers in the oil and gas sector on Sunday advised President Muhammadu Buhari to shun any counsel that would destabilise or cause chaos in the economy.

A university lecturer, Prof. Cecilia Olufunke-Akintayo, has advised the Federal Government to build modern chemical plants, capable of producing bio-based petrol chemical in place of conventional Premium Motor Spirit, (PMS).

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, on Sunday assured Nigerians that there is sufficient Premium Motor Spirit (PMS), also known as fuel, in the country.

The Minister of State for Petroleum Resources, Dr Ibe Kachikwu has urged ExxonMobil and other International Oil Companies operating in Nigeria, to key into the gas commercialization policy of government for gas development in the country.