Oil price rises to approximately $72 amid worries of disruption

Oil prices rose on Tuesday amid worries that there could be a high risk of disruptions to supply, especially in the Middle East. Brent crude oil futures were at $71.80 per barrel at 0120 GMT, up 38 cents, or 0.5 per cent from their last close. U.S. West Texas Intermediate (WTI) crude futures were up 39 cents or 0.6 per cent, at 66.61 dollars a barrel. Traders said oil markets were receiving general support due to a sense that there were high risks of supply disruptions, including a potentially spreading…

Read More

Enact laws on effective metering, electricity consumers urge NASS

Stakeholders have advised the National Assembly enact laws on effective metering system to save electricity consumers from continuous exploitation through arbitrary billing. They made the observation on Wednesday in Lagos at the ongoing public hearing by the House of Representatives Ad-hoc Committee on customers’ complaints for electricity consumers in South-West Zone. Dr Amos Awoniyi, a customer from Lekki area of Lagos, urged the House Committee to enact laws that would enforce effective metering system among distribution companies to reduce estimated billing. Awoniyi urged other distribution companies to adopt EKEDC metering…

Read More

KEDCO loses N187m to vandals in 1 month

The Kano Electricity Distribution Company (KEDCO) said it has lost its power installations worth N187 million to vandals, in the last one month. The Managing Director of the company, Dr Jamilu Gwamna,  made the disclosure at a one-day stakeholders meeting the state traditional and religious leaders in Kano, on Wednesday. TBI Africa reports that the meeting was convened by KEDCO to enlighten customers on the importance of paying electricity bills. He said the activities of vandals had negatively affected the operations of the company, leading to poor service delivery to…

Read More

16 ships arrive Lagos ports with petrol, other commodities

A total of 16 ships laden with various products including petrol are at the Lagos Ports waiting to berth, the Nigerian Ports Authority (NPA) said on Wednesday. The NPA disclosed in its daily “Shipping Position” made available n Lagos that 14 of the vessels carrying petrol were waiting to berth. It said another two ships would berth with ethanol and bulk fertiliser. No fewer than 34 other ships laden with petroleum products, food items and other goods are expected at Apapa and Tin-Can Island Ports between April 18 and May…

Read More

34 ships laden with fuel, food items to arrive Lagos ports

Thirty four ships laden with petroleum products, food items and other goods are expected to arrive Apapa and Tin Can Island Ports in Lagos between Monday and April 27. The Nigerian Ports Authority (NPA) stated this in its publication, `Shipping Position’, a copy of which was made available in Lagos on Monday. TBI Africa reports that 15 of the expected 34 ships would sail in with petrol. NPA said the remaining 19 ships contained bulk wheat, bulk sugar, bulk frozen fish, ethanol, bulk fertiliser, general cargo and containers laden with…

Read More

Power: Alimosho residents condemn “crazy bills”, threaten protests

Residents of Alimosho area of Lagos State on Monday expressed worry over “crazy bills” given to them by Ikeja Electric (IE), with many of them seeking explanations at the Egbeda Undertaking Office of the company on Alimosho Road, in the locality. TBI Africa correspondent who was at the office reports that many of the residents came forward with complaints of “crazy bills“, alleging that it was getting worse with some reflecting as much as 300 per cent increase in March. Mr Dayo Ali, one of the aggrieved customers, said that…

Read More

NNPC boss calls for partnership between academia, industry

The Group Managing Director, Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, has called for more collaboration between the academia and the oil and gas industry on research, to attract investments into country. Baru, represented by the Managing Director, Nigeria Engineering and Technical Company (NETCO), Mr. Silky Aliyu, made the call at the 1st National Education Summit organised by the Oil and Gas Trainers Association of Nigeria (OGTAN) in Lagos. The summit was tagged “Sustaining Local Content Through Quality Education and Training, Prospects and Challenges’. He stressed the need for…

Read More

Only Abuja residents paid N145 per litre of petrol in March -NBS

The National Bureau of Statistics (NBS) said only motorists in Abuja bought Premium Motor Spirit (PMS), also known as petrol, at the approved price of N145 per litre in March. The Bureau stated this in its PMS Price Watch for March, 2018 posted on its website. It said Abuja was one of the states with lowest average price for the product in the month. It added that Kaduna and Bauchi were other states that recorded lowest average price for petrol during the period as residents bought the product at N147.29…

Read More

TCN commissions 60MVAR capacitor bank to improve electricity voltage in FCT

The Transmission Company of Nigeria (TCN), has commissioned a 60MVAR Capacitor Bank at the Apo 132/33Kv substation to improve quality and voltage of electricity supply to consumers in the Federal Capital Territory (FCT). The Minster of Power, Works and Housing, Mr Babatunde Fashola, said at the commissioning of the project on Thursday that it would improve quality of power in terms of voltage to some communities in the FCT. He listed the communities to include Apo, Guzape, Garki, Lugbe, Asokoro, and some parts of Central Area. Fashola said the provision…

Read More

20 private refinery’s licenses expire for non-activity

Twenty of the 43 licenses granted by the Department of Petroleum Resources (DPR) to set up private refineries in Nigeria have expired without going beyond the initial level of License to Establish (LTE). Another seven of these licenses will expire between July and August, bringing the total 28, which had been idle for three years, while their validity is two years. This was contained in a report by DPR on, Licensed Refineries in Nigeria as at 31st January 2018 released recently. However, the 5,000 barrels per day (BPD) capacity Waltersmith…

Read More