Nigeria will continue collaborating with other OPEC+ Nations in the historic efforts to adjust crude oil production towards rebalancing and stabilizing the global crude oil market for the benefit of all.
Nigeria reaffirms its commitment, alongside its OPEC+ counterparts to extend the first phase of the production adjustments of 9.7 mb/d...
Power Distribution Companies (DisCos) have dismissed the claims that 4,159 megawatts (MW) of electricity is stranded on the national grid due to their low capacity.
The DisCos’ group, Association of Nigerian Electricity Distributors (ANED), said the claims by the Generation Companies (GenCos) were not true.
The Association of Power Generation Companies...
In line with the Transparency, Accountability and Performance Excellence (TAPE) agenda of the present Leadership of the Nigerian National Petroleum Corporation (NNPC), and the commitment to continually deploy Information and Communications Technology (ICT) for the purposes of operational efficiency and accountability within the corporation’s system, the National Oil Company...
The Federal Government yesterday further reduced the Pump Price of fuel from N123.50/litre to N121.50/litre.
Recall, Nigeria is operating an approved pricing regime which became effective 19th March 2020 and the provision for the establishment of a monthly price band within which Petroleum Marketers are expected to sell PMS at...
Minister of Science and Technology Dr. Ogbonnaya Onu has said that the Methanol Fuel Technology policy will assist Nigeria’s economy to recover quickly from the damage caused by Covid-19 pandemic.
He stated this at the final meeting of the Cabinet Committee to source funding for the Implementation of The National...
There is widespread protest at the Transmission Company of Nigeria (TCN) headquarters in Abuja over the removal of Mr Usman Gur Mohammed as the Managing Director on Tuesday.
The members of the unions comprising the Senior Staff Association of Electricity and Allied Companies (SSAEAC) and the Nigerian Union of Electricity...
The national electricity grid system collapsed on Wednesday morning at 1:21am leaving power generation to begin at 2,983 megawatts (MW) this morning.
However, the Transmission Company of Nigeria (TCN) in a statement by its Public Affairs Head, Mrs Ndidi Mbah said confirmed the incident and said the National Control Centre...
As the plan on providing free electricity to Nigerians for two months intensifies, there are concerns that the targeted vulnerable poor will not benefit from the initiative. Sources said there is an ongoing plan between the legislature and the executive arm of government to source for over N110 billion...
U.S. crude oil futures collapsed below $0 on Monday for the first time in history, amid a coronavirus-induced supply glut, ending the day at a stunning minus $37.63 a barrel as desperate traders paid to get rid of oil.
Brent crude, the international benchmark, also slumped, but that contract was...
The Hon. Minister of State for Petroleum Resources, Nigeria, and Minister of Petroleum of South Sudan, Hon. Puot Kang Chol joined its other OPEC and OPEC+ counterparts today to agree on a historic deal to cut 9.7 million barrels of oil per day of supply starting May 1st, 2020.
The...
