Category: Energy/Power

Oil rallies to $67

Oil prices hit new highs yesterday, bouncing back from a morning slump after the United States (U.S.) government said shale output would rise to a record next month. Brent futures rose 79 cents, or 1.2 per cent, to $67.24 a barrel, surpassing Monday’s high for the year of $66.83. U.S. futures were up 99 cents,…

Chevron Bags Nigerian International Petroleum Summit Awards

Chevron Nigeria Limited (CNL), operator of the NNPC/CNL Joint Venture, has won two awards at the   industry dinner and awards night, organised by the Nigerian International Petroleum Summit (NIPS) in Abuja. The awards were in recognition of the company’s outstanding performance. The awards won by CNL are: “for contributions to the hydrocarbons industry, and the…

ENYO invests N8bn in downstream business, targets expansion, acquisition

Mr Abayomi Awobokun, the Chief Executive Officer, ENYO Retail and Supply Ltd., said the company has invested over eight billion naira into downstream retail business with the aim of expanding market share in the downstream sub-sector. Awobokun said in a news briefing in Lagos on Wednesday that the company was formed by group of Nigerian…

“Regulatory framework, Technology Top Oil Sector Challenges”- FG

Contrary to the popular narrative that access to finance constitutes the major challenge impeding growth of indigenous oil servicing companies in Nigeria, a survey conducted by the Nigerian Content Development Monitoring Board (NCDMB) has proven that the main difficulties lie elsewhere. According to the survey which was conducted during the selection of the beneficiaries of…

Factional President IPMAN, members disregard Okoronkwo’s directive on fuel price reduction

The factional President of the Independent Petroleum Marketers Association of Nigeria (IPMAN), Mr Sanusi Fari has called on the members to disregard the national President’s directive to reduce petroleum pump price from N145 to N140. Fari who disclosed this  in Abuja  on Tuesday  urged the members to continue to render their services to the public…

EKEDC assures safety, reliable power supply to electricity consumers

…….Sign Conditions of Service with NUEE, SSAEAC to enhance electricity workforce Mr Adeoye Fadeyibi, the Chief Execultive Officer, Eko Electricity Distribution Company Plc (EKEDC) has assured electricity consumers within it’s network of safety and reliable supply. Fadeyibi gave the assurance during the signing of workers conditions of service forwith the National Union not Electricity Employees…