The Association of Nigeria Energy Distributors (ANED) says Distribution Companies are studying the modalities of the directive issued by the Nigerian Electricity Regulatory Commission (NERC) on cashless payment by customers. Mr Sunday Oduntan, Chairman, ANED, spoke on Friday in Lagos. NERC had on Dec. 31, 2019 directed the 11 DisCos to transit to cashless settlement…
Oil prices rose to begin the new year on Thursday buoyed by signs of improving trade relations between the United States and China which eased demand concerns and rising tensions in the Middle East. Brent crude futures rose 25 cents to 66.25 dollars a barrel by 0958 GMT, while U.S. West Texas Intermediate (WTI) crude…
An Electrical Electronic Engineering expert, Miss Ruth Ifah, on Thursday urged the Federal Government to focus on electrification of rural areas to boost the nation’s economic growth in 2020 and beyond. Ifah, who is a Sale Solution Engineer with Nexgen Energy and Allied Company, said this in Ibadan. According to her, achieving clean energy which…
The Nigerian National Petroleum Corporation (NNPC) recorded a trading surplus of ₦13.23billion in October 2019. This represented an increase of 54 per cent compared to ₦8.59 billion surplus posted in September 2019. The Corporation disclosed this in its Monthly Financial and Operation Report (MFOR) for the month of October released in Abuja, on Wednesday. The report reflected…
The Lagos State Governor, Mr Babajide Sanwo-Olu, on Thursday said that the state was working with partners to upscale the capacity of its Ikeja Power Plant. Sanwo-Olu said this during the inspection of the Independent Power Project in Lagos. He said that there was the need to further optimise and utilise its capacity to serve…
The electricity outage occasioned by the face-off between the Ijaw Youths Council (IYC) and the Port Harcourt Electricity Distribution Company (PHEDC) has entered the 10th day with unpleasant impacts. The IYC had, on Dec.23, besieged the offices of the PHEDC and forced the staff to shut down operations, occupying the premises to protest perceived poor…
1. On January 1 2020, average energy sent out was 3,993 MWH/Hour (up by 95.31 MW from the previous day) 2. 2,026.5 MW was not generated due to unavailability of gas. 3. 60 MW was not generated due to unavailability of transmission infrastructure, while 2,073.6 MW was not generated due to high frequency resulting from…
Asking prices for West African grades have been inching down after buyers balked at relatively high rates in December, with very little trading preceding the holiday period. According to Reuters, State oil company Sonangol shaved around 50 cents from its sizable handful of February-loading cargoes on Thursday. It was offering Dalia at dated Brent plus $2.50,…
…worth $14.8bn, only African on top 100 world richest African richest man Aliko Dangote has significantly moved up in the World billionaires’ list as he emerged 96th richest person in the world, with an estimated worth of $14.8 billion, as against his previous ranking of 103rd in the world. Dangote, who remains the richest man…
The International Energy Agency, IEA, has predicted that the global oil market will witness surplus, leading to low prices in early 2020. The report is coming at the time many member states and associates, including Australia, Austria, Belgium, Canada, Czech Republic, Denmark, Estonia, Finland, France, Germany, Greece, Hungary, Ireland, Italy, Japan, Korea, Luxembourg, Mexico, New…
