Oil prices maintained stable on Monday after falling at the end of last week, as investors resumed their attention to a tight global supply outlook, but a last-minute deal to avoid a US government shutdown revived some risk appetite. Brent December crude futures were up 17 cents, or 0.18 percent, to $92.37 per barrel by […]Read More
Brent Crude oil rose to $97.2 per barrel in the early hours of Thursday, September 28, reaching its highest level since November 2022, according to Oilprice. The huge price increase was caused by increased demand and a major drop in crude oil supplies. Saudi Arabia and Russia were key contributors to this surge, since they […]Read More
Nigeria’s power supply has once again plummeted, falling from a high of 3,594.60 megawatts (MW) about 1:00 a.m. to a frightening 42.7 MW at the time of submitting this report. The Delta Power plant was the only operating power plant on the grid as of midday today, generating 41.00MW, while Afam provided only 1.7MW. This […]Read More
The Nigerian National Petroleum Company (NNPC) Ltd., has signed a gas supply Memorandum of Understanding with Indorama Eleme Petrochemicals Limited. According to the state-owned oil company, the agreement was signed in a bid to promote the use of natural gas by large-scale gas utilisation industries. Details soon…Read More
Last week, Oladele Alake, the Minister of Solid Minerals, addressed the press on the solid minerals roadmap in line with President Bola Ahmed Tinubu’s Renewed Hope Agenda and how the administration is going to reposition the sector as a major driver of economic growth. “President Bola Ahmed Tinubu has taken firm, courageous decisions that have […]Read More
Dele Alake, the Minister of Solid Minerals, has said the country is planning to set up the Nigerian Solid Minerals Corporation, a state-backed company to help attract investments into the extraction of gold, coal, iron-ore, bitumen, lead, limestone and baryte. According to the Minister, the proposed corporation will seek and secure partnership investment agreements with […]Read More
President Bola Ahmed Tinubu on Wednesday assured labour unions in the country that the Port Harcourt refinery will be back on stream by December, 2023. He made this known while meeting with the leadership of the organised labour centre at the State, Abuja, after a nationwide protests by the Nigeria Labour Congress and the Trade […]Read More
The Nigerian Electricity Regulatory Commission (NERC) has made available six ways Nigerians can reduce their electricity bill. The tips were shared by the Commission through its official Twitter handle on Thursday, July 27, 2023. These tips are helpful for both metered and non-metered customers, so they do not have to pay so much for electricity […]Read More
Angola has set a production target of 1.2 million barrels per day (mbpd) of crude oil, against the current 1.15 mbpd, the country’s regulatory agency, National Agency of Petroleum, Gas and Biofuels (ANPG) has declared. Ana Miala, director of production of the ANPG, said the country currently has the capacity to produce 1.18 mbpd, which […]Read More
Despite easing of Liquefied Natural Gas (LNG) prices in international market, Pakistan has once again failed to attract even a single bid for the supply of six spot Liquefied Natural Gas (LNG) cargoes. The state owned Pakistan LNG Limited (PLL) had, last week, invited bids from international suppliers for the delivery of six cargoes with […]Read More
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