Saudi Arabia and other OPEC+ oil producers unexpectedly cut oil production by more than 1.16 million barrels per day on Sunday. Analysts predicted an immediate price increase, and the United States deemed the action unwise. The pledges bring OPEC+’s total reductions, which include Russia and other allies, to 3.66 million bpd, or 3.7 percent of […]Read More
Timipre Sylva, Nigeria’s minister of state for petroleum, has resigned to run for governor of oil-producing Bayelsa State in the southern Niger Delta, ministry and presidency sources told Reuters on Thursday. Sylva’s resignation comes at a time when Nigeria is in the midst of a political transition, with President Muhammadu Buhari serving his final weeks […]Read More
The Enugu Electricity Distribution Company PLC (EEDC) and the Government of Anambra State entered a strategic partnership aimed at delivering the energy requirements in the state, for reliable, universal electricity access. To seal this collaboration, Charles Chukwuma Soludo, the Executive Governor of Anambra State, presided over the memorandum of understanding signing ceremony which was held […]Read More
Copenhagen Infrastructure Partners (CIP) has acquired the majority stake in Mulilo Energy Holdings (Mulilo), a prominent renewable energy developer in Cape Town, South Africa, through its Copenhagen Infrastructure New Markets Fund I (CI NMF I). According to multiple reports, CIP will take over the company, while Mulilo’s current founders and management will continue to lead […]Read More
Roger Brown, the Chief Executive Officer of Seplat Energy Plc, has stepped down in response to an order from a Federal High Court in Lagos. Brown will cease acting as CEO until the outcome of a lawsuit filed by disgruntled corporate stakeholders against him and others. The British national was accused of racism, partiality towards […]Read More
Timipre Sylva, former Bayelsa State governor and Minister of State Petroleum Resources, has entered the race for the State’s gubernatorial seat. According to reports, friends of the minister paid N50 million for the former governor’s nomination and expression of interest forms in the All Progressives Congress. On Monday, the said friends reportedly went to the […]Read More
The price of aviation fuel has increased by 121.4 per cent to N620 per litre in June 2022, from N280 per litre in the corresponding period of 2021, due mainly to the rising price of crude oil in the international market. The price of crude, currently hovering at $128 per barrel, had stood at about […]Read More
Nigeria’s national electricity grid was said to have collapsed, placing many homes without power supply. Stakeholders announced late Sunday that the collapse occurred just before 7pm. This is the fifth reported collapse in 2022. The Government blames poor management and low gas supply as the major causes of the repeated breakdown. The Jos Electricity Distribution Plc informed […]Read More
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