Russia may transfer the running of oil intake terminals to state-owned pipeline company Transneft, according to a government website, after a privately-owned terminal was blamed earlier this year for contaminating oil supplies. Prime Minister Dmitry Medvedev will ask the government to consider the move, the website said, after Medvedev met Transneft Chief Executive Nikolai Tokarev…
Europe’s two biggest suppliers of pipeline gas, Norway’s Equinor and Russia’s Gazprom, have lost market share for the first time in at least four years amid a tripling in liquefied natural gas (LNG) imports into the region over the past 10 months. LNG imports into Europe have jumped amid lower than expected spot demand from…
Crude oil prices rose on Monday following a weekend attack on a Saudi oil facility by Yemen’s Houthi forces and as traders looked for signs of progress in U.S.-China trade negotiations. Price gains were, however, capped to some degree by an unusually downbeat OPEC report that stoked concerns about growth in oil demand. Brent crude,…
Electricity Distribution Company, Ikeja Electric, has signed an agreement with Magodo Resident Association to invest in electricity infrastructure in the Estate as well as provide reliable and quality electricity supply to the residents. The contract, which is in line with the company’s Premium Power Purchase Agreement was signed at the association’s community hall in Lagos…
The entire Akwa Ibom State, including Uyo its capital city, has been thrown into darkness following the action of a youth group, West Itam Youth Forum, to picket the transmission station in Itu and, causing the Transmission Company of Nigeria, TCN, to shut down supply. Speaking on the development, the management of Port Harcourt Electricity…
The Nigerian Security and Civil Defence Corps, NSCDC, has paraded 21 suspected oil thieves and two Dangote trucks caught with illegally refined petroleum products in Rivers State. Rivers State Commandant, NSCDC, Muktar Lawal, said the arrest was made at the weekend by operatives of its special anti-vandal team while on patrol in Eleme, Abonnema Wharf…
Nigeria is considering co-sharing refineries likewise operating joint ventures, JVs, with other African countries, according to a top official of the Ministry of Petroleum Resources. Dr. Folasade Yemi-Esan, Permanent Secretary in the ministry, revealed this as Head of the Nigerian delegation to the recent 176th meeting of the Organization of the Petroleum Exporting Countries, OPEC,…
The Nigerian National Petroleum Coeporation (NNPC) says 15 companies have emerged winners of the Direct Sales and Direct Purchase (DSDP) of Crude oil contract for 2019/2020. The corporation disclosed this in a statement issued by its spokesman, Mr Ndu Ughamadu, in Abuja, on Sunday. He said that the announcement was in line with the corporation’s…
The Association of Nigerian Electricity Distributors (ANED), has restated the commitment of Distribution Companies (DisCos) and the Federal Government to tackling challenges affecting retail electricity distribution in the country. Mr Sunday Oduntan , the Executive Director, Research and Advocacy of ANED made this known in a statement in Abuja on Sunday. Oduntan said the Federal…
The Nigerian Content Development and Monitoring Board (NCDMB) has inaugurated a Community Interface Committee (CIC) for the Nigerian Oil and Gas Park Scheme NOGaPS) located at Emeyal 1 in Ogbia LGA of Bayelsa State. The committee was set up to enhance the interface between the communities, the contractors and the Board and would ensure community…
