Energy

NIMASA

NIMASA dispatches team to investigate Ondo offshore fire

Nigerian Maritime Administration and Safety Agency (NIMASA) has sent an investigative team to unravel the circumstances surrounding a recent fire incident at a wellhead offshore in Ondo State.

Oil prices rise as US stock drawdown eases supply glut fears

Oil prices advanced on Thursday as a drawdown of the U.S. crude inventories and output cuts by major producers helped ease concerns about a supply glut, though lingering fears over the global economic fallout from the COVID-19 pandemic capped gains.
The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.

Nigeria’s active oil rigs fall by 24 percent

The number of active oil rigs in the country fell by 23.8 per cent to 16 in April amid the coronavirus-induced collapse in prices and demand for crude.
The Petroleum Products Pricing Regulatory Agency (PPPRA) is set to commence a comprehensive audit and survey of downstream oil and gas logistic facilities, with a view to identifying the infrastructure gap in the sector

PPPRA clears marketers to import petrol

Before the downstream oil sector was liberalised in March this year, the NNPC used to be the sole importer of petrol, a task it handled for more than two years.
Usman Mohammed - TCN

TCN managing director sacked

The Federal Government has removed the Managing Director of the Transmission Company of Nigeria, Usman Gur Mohammed, from office.
The National Oil Spill Detection and Response Agency (NOSDRA) says it is collaborating with Ghana-based Kofi Annan International Peace and Training Centre (KAIPTC) to strengthen the capacity of its staff.

Official: NOSDRA is investigating cause of fire at coronavirus

The National Oil Spills Detection and Response Agency (NOSDRA) on Monday said that the ongoing fire at Ororo oilfield at Oil Mining Lease (OML) 95 is being investigated.
The logo of French oil and gas company Total is seen in a petrol station in Paris, France February 6, 2020. REUTERS-Gonzalo Fuentes-File Photo

Total calls off plan to buy Occidental Petroleum’s Ghana asset

Total has called off a plan to acquire Occidental Petroleum’s assets in Ghana, which was conditional on the completion of the acquisition of Occidental’s other assets in Algeria, the French energy company said on Monday.
Power returned to much of Argentina and two neighboring countries following a massive blackout that left tens of millions in the dark on Sunday.

Zimbabwe tenders for 500MW solar power plants in renewable energy drive

Zimbabwe’s state power transmission company has invited bids for the construction of 500 megawatts (MW) of solar power plants as part of a drive to increase its use of renewable energy and end power cuts.

Nigerian electricity workers threaten strike

The Senior Staff Association of Electricity and Allied Companies (SSAEAC) has threatened to embark on a fresh strike.
The Minister of State for Petroleum Resources, Chief Timipre Sylva, has insisted that there is no plan to divest the Federal Government’s stakes in joint venture oil assets.

Minister: We deregulated downstream oil sector in March

The Minister of State for Petroleum Resources, Chief Timipre Sylva, says the downstream oil sector was deregulated on March 19, with the reduction in the pump price of the Premium Motor Spirit(PMS) also known as petrol.
Organisation of Petroleum Exporting Countries (OPEC) | Reuters

OPEC sees oil market already rebalancing

The rebalancing of the oil market is underway and will accelerate, the OPEC cartel said Wednesday, days after some of its members voluntarily increased their production cuts.
Dr Nnaemeka Ewelukwa has assumed office as the acting Managing Director-CEO of the Nigerian Bulk Electricity Trading Plc (NBET) following the step down of Dr Marilyn Amobi.

Lawmakers reject proposed motion against NBET chief

A proposed motion initiated by some members of the House Committee on Power against the Managing Director/CEO of the Nigerian Bulk Electricity Trading Company (NBET), Dr. Marilyn Amobi, was yesterday rejected by the leadership of the House for want of evidence.
Nigerian National Petroleum Corporation (NNPC)

NNPC records N211.62 billion from petroleum products sales

The Nigerian National Petroleum Corporation (NNPC) on Tuesday in Abuja said its downstream subsidiary, Petroleum Products Marketing Company (PPMC), netted N211.62 billion from the sale of white products in February.
Saudi Aramco’s multibillion-dollar share sale, likely the biggest initial public offering (IPO) in history, is officially underway after the company formally announced its plans to list stock on the Kingdom’s stock exchange, the Saudi Tadawul.

Saudi Aramco profit plunges

Saudi Arabian state oil giant Aramco on Tuesday reported a 25 percent fall in first-quarter net profit, hurt by lower oil prices and coronavirus.
Electricity pylons carrying power from Koeberg nuclear power plant are seen in Cape Town, South Africa, file. REUTERS-Sumaya Hisham

South Africa’s Eskom to fix design flaws at mammoth coal plants

South African state utility Eskom plans to correct design defects at all units of its mammoth Medupi and Kusile coal-fired power stations, it said on Monday, after completing modifications on one of the plants’ units.

Oil prices drop amid supply glut, fears of second coronavirus wave

Oil prices fell on Monday as concern over a persistent glut and economic gloom caused by the coronavirus pandemic combined to cancel out support from supply cuts at some of the world’s top producers.

Edo marketers defy petrol price reduction

Independent petroleum Marketers within Benin metropolis in Edo, have continued to dispense petrol at N125 per litre in deference to the recently announced pump price of N108 per litre.
Power returned to much of Argentina and two neighboring countries following a massive blackout that left tens of millions in the dark on Sunday.

Power restored in Kenya, Uganda after nationwide outages

Power has been restored in the East African nations of Kenya and Uganda after they were hit by nationwide outages in the morning, the countries’ electricity providers said.

Recent Stories

Medical council validates four coronavirus test kits – registrar

The Medical Laboratory Science Council of Nigeria (MLSCN) says it has validated four Rapid Test Kits to determine their suitability for testing SAR-COV-2 infection popularly known as COVID-19 in the country.
Legendary reggae artiste, Majekodunmi Fasheke, aka Majek Fashek is dead. The artiste died in a New York hospital after a protracted illness on Monday about 5-45pm. He was aged 71.

Nigerian celebrities mourn deceased Majek Fashek

Nigerian celebrities have taken to their social media platforms to mourn the death of Music Legend, Majekodunmi Fasheke, a.k.a Majek Fashek.
Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.

Rwanda set to announce new coronavirus restrictions

Rwanda says it will announce new restrictions on containing the coronavirus Tuesday, a stark reversal of the country's plan days ago to ease restrictions, including motor vehicle travel throughout the country.
Nigerian President Muhammadu Buhari3

Nigeria declares telecoms facilities critical national Infrastructure

In response to the yearnings of industry stakeholders to declare telecom facilities Critical National Infrastructure, President Muhammadu Buhari, has finally approved and also directed that necessary physical protective measures be put in place to safeguard telecommunications infrastructure deployed across the country.
President Muhammadu Buhari has again, addressed Nigerians on the efforts of its government to contain the coronavirus pandemic (covid-19) that is ravaging the country 4

ASCAB: President Buhari’s speech underestimate Sani Abacha’s $5 billion loot

Alliance for Surviv­ing COVID-19 and Beyond, (ASCAB), a group led by prominent Nigerian human rights lawyer, Femi Falana has said that President Mu­hammadu Buhari’s claim that late dictator, Sani Abacha, stole $1 billion con­tradicts the figures earlier released by his own officials.