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‘Average power supply to Nigerian homes still inadequate at 9hrs/day’

‘Average power supply to Nigerian homes still inadequate at 9hrs/day’

The new power poll released by NOIPolls for the fourth quarter (Q4) of 2019 has revealed that power supply to Nigerian households experienced a marginal increase to stand at 37 percent in Q4 from 36 percent obtained in Q3, 2019, ...

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TCN to push for Discos’ recapitalisation

TCN to push for Discos’ recapitalisation

Power distribution companies must be recapitalised for Nigeria’s power industry to work and the Transmission Company of Nigeria has vowed to push for the Discos’ recapitalisation this year. Speaking on some of the company’s targets for 2020 in the latest ...

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NDPR expands modular refinery capacity by 5,000bpd

NDPR expands modular refinery capacity by 5,000bpd

The Niger Delta Petroleum Resources Limited, a subsidiary of Niger Delta Exploration and Production Plc, has expanded its maiden 1,000 barrels per day diesel topping refining plant, a modular refinery, with an additional 5,000bpd, the Department of Petroleum Resources announced ...

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Nigeria’s Power Generation Hits 4,898.2MW

Nigeria’s Power Generation Hits 4,898.2MW

The total quantum of electricity generated on the national grid since the beginning of 2020 reached a peak of 4,898.2 megawatts on Wednesday, latest industry data obtained on Thursday in Abuja showed. The Federal Ministry of Power stressed that the ...

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OPEC to maintain quota as oil prices return to $65 per barrel

OPEC to maintain quota as oil prices return to $65 per barrel

The Organisation of the Petroleum Exporting Countries (OPEC), trimmed its crude oil production by 100,000 barrels daily (b/d) in December, the latest S&P Global Platts survey finds, putting the bloc under its new, more-stringent quotas a month early. OPEC pumped ...

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Oil marketers want petrol exempted from PoS charge

Oil marketers want petrol exempted from PoS charge

Oil marketers under the aegis of the Major Marketers Association of Nigeria have said it will be unfair for petrol dealers to be asked to pay N50 for transactions done on Point-of-Sale machines. The Chief Executive Officer and Executive Secretary, ...

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Nigeria’s oil sector faces slowdown amid looming divestment

Nigeria’s oil sector faces slowdown amid looming divestment

The nation’s oil and gas sector may not get a much-needed revamp this year as a number of international oil companies operating in the country look set to divest more assets amid a lack of reforms. S&P Global Platts reported that ...

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Buhari, Sylva, NNPC boss meet over Middle East tension

Buhari, Sylva, NNPC boss meet over Middle East tension

The President, Major General Muhammadu Buhari (retd.), and the Minister of State, Petroleum Resources, Mr Timipre Sylva, went into a crucial meeting on Wednesday amid the escalating United States of America/Iran tensions and the impact on global oil prices. Nigeria’s ...

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11 new pipelines expected in Nigeria by 2023

11 new pipelines expected in Nigeria by 2023

Eleven new pipelines are expected to come on stream in Nigeria by 2023, GlobalData has said. According to the data and analytics company, Nigeria is expected to contribute around 35 per cent of Africa’s total planned and announced oil and ...

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Oil companies making profits, host communities suffering – Presidency

Oil companies making profits, host communities suffering – Presidency

International oil companies operating in Nigeria are making profits while most of the communities hosting them are being impoverished, the Presidency has declared. In his goodwill message at the 4th National Council on Hydrocarbons held in Abuja, the Senior Special ...

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Oil rises above $70 amid US, Iran face-off

Oil rises above $70 amid US, Iran face-off

Oil prices surpassed $70 per barrel on Monday for the first time in more than three months as the United States warned of increased threats to energy facilities in the Middle East after the assassination of an Iranian general, Qassem ...

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We’ll enforce electricity tariff increase from April – Discos

We’ll enforce electricity tariff increase from April – Discos

Power distribution companies on Monday declared that the new electricity tariffs would become enforceable from April 1. Speaking through their umbrella body, the Association of Nigerian Electricity Distributors, the Discos explained that the new tariffs ordered by the Nigerian Electricity ...

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PENGASSAN demands removal of Chevron MD

PENGASSAN demands removal of Chevron MD

The Petroleum and Natural Gas Senior Staff Association of Nigeria, Chevron branch, on Monday called for the removal of the Chairman and Managing Director of Chevron, Mr Jeff Ewing. The News Agency of Nigeria reported they made the call during ...

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PDP, others kick as NERC denies increasing electricity tariff

‘Average power supply to Nigerian homes still inadequate at 9hrs/day’

 ‘It is obnoxious, provocative policy’ • What we have done, by agency The Peoples Democratic Party (PDP) and other stakeholders have rejected the alleged rise in electricity tariff, even as the regulatory agency denied approving any increase. There were reports ...

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Discos’ annual revenue collection rises to N466bn

Nigeria’s Power Generation Hits 4,898.2MW

Power distribution companies have set a new record of N466bn in their yearly revenue collection, the Association of Nigerian Electricity Distributors has said. ANED, which is the umbrella body for all the Discos, said the revenue collection rose by 10 ...

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Oil majors kick against FG’s $62bn claim

Oil majors kick against FG’s $62bn claim

International oil companies operating in the country are opposed to the claim by the Federal Government that they owe as much as N62bn with respect to Production Sharing Contracts. Last month, the President, Major General Muhammadu Buhari (retd.), signed the ...

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Electricity tariffs will increase April 1 – NERC

Electricity tariffs will increase April 1 – NERC

The Nigerian Electricity Regulatory Commission has said the electricity tariffs being paid by consumers will increase in April this year. NERC disclosed this in its December 2019 Minor Review of Multi-Year Tariff Order 2015 and Minimum Remittance Order for the ...

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Oil jumps to $69 as US kills Iran’s Soleimani

Oil jumps to $69 as US kills Iran’s Soleimani

World oil prices jumped nearly $3 on Friday after the US killed a top Iranian general, fanning fresh fears of conflict in the crude-rich Middle East, with Tehran warning of “severe” retaliation. The international oil benchmark, Brent crude, hit $69.16 ...

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Global adoption of LNG as marine fuel rises over IMO 2020

Global adoption of LNG as marine fuel rises over IMO 2020

The Liquefied Natural Gas (LNG) is fast gaining strength as alternative marine fuel, as a worldwide push is on to sharply reduce or eliminate harmful emissions from the burning of fossil fuels by ocean going ships. Recent indications showed that ...

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Oil price rises, Nigeria faces crude production decline

Oil price rises, Nigeria faces crude production decline

The international oil benchmark, Brent crude, rose slightly on Thursday on the back of improving trade relations between the United States and China as well as rising tensions in the Middle East. Brent, against which Nigeria’s oil is priced, gained ...

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