The recent improvement in power supply across the country is being driven by sustained generation of 1,100 megawatts Egbin Power Plc, which produces one-third of the total power generated in Nigeria. According to a report by the News Agency of Nigeria (NAN), Egbin’s current generation capacity, which hit the 1,100MW mark in July, has been…
…President Demands Better Distribution To Consumers Nigeria is currently generating about 4,600 megawatts of electricity, but President Muhammadu Buhari on Wednesday directed the Ministry of Power to ensure more is generated and distributed to Nigerian consumers. He gave the directive to senior Ministry of Power officials, led by the Permanent Secretary, Godknows Igali, who were…
Oil prices rose Wednesday, with New York’s price rebounding from six-year lows as the International Energy Agency predicted stronger crude demand amid a supply glut. US benchmark West Texas Intermediate (WTI) for September delivery climbed 48 cents to $43.56 a barrel. Brent North Sea crude for September gained 28 cents to stand at $49.46 a…
The International Energy Agency says it does not see an immediate rebound in low oil prices, despite its growing global demand. The agency in its report on Wednesday said that global oversupply was so great that it would last through 2016. The West’s energy watchdog said it was steeply raising its demand growth outlook for…
Dr Atiku Abubakar, Deputy Managing Director, Transmission Company of Nigeria (TCN), on Tuesday said about N15 billion was required for the nation to generate 8,000 megawatts of electricity by 2016. Abubakar made this known during inspection of some ongoing electricity projects at the sidelines of a training programme for auditors in Lagos. He disclosed that…
Capital Oil and Gas Industries Limited has barred oil marketers involved in the sales and diversion of premium motor spirit (Petrol) above government regulated price of N87 per litre from lifting products in its terminal. The company, in a statement by its Director Media Services, Afam Ilounoh, described the diversion of petroleum products “to locations…
Lafarge Africa Plc has said that its newly constructed 220-mega watts power plant at Ewekoro, Ogun State, would commence operation in October. A report by the News Agency of Nigeria (NAN) noted that the company’s Managing Director, Guillaume Roux said the project worth $400 million (N78.8 billion) was executed in partnership with the International Finance…
• Deploys 197 Trucks To FCT The Department of Petroleum Resources (DPR) has assured the public of adequate and continuous supply of petrol before and during Sallah period. A report by the News Agency of Nigeria noted that the Zonal Spokesperson of DPR, Abuja, Mohammed Saidu, said that 6.5 million litres (197 trucks) of petrol…
The Presidency has declared it is willing to offer more financial relief packages to embattled state governments like it did with a ‘bailout’ last week. Speaking to Daily Independent on Monday, presidential spokesman, Femi Adesina, stressed that last week’s relief package, was not actually a bailout, as the states were lawfully entitled to what they…
Shell has said that it has been chosen by BMW AG as its only recommended global supplier for aftermarket engine oils for some of its brands. The brands include BMW, BMW i, BMW M, MINI and BMW Motorrad. According to Shell, from the start of 2015, premium engine oils manufactured by Shell will be available…
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