Nigeria, Angola crude overhang could pressurize Asian crude

Traders have said that unsold barrels of crude from West Africa could put pressure on the premiums of Malaysian crude cargoes for March loading.   Platts reports that weaker demand, particularly from independent refineries in China, for February-loading Angolan and Nigerian grades has resulted in an overhang, traders said. Traders indicated that More...

by Uchenna Ajah | Published 1 day ago
By Uchenna Ajah On Thursday, January 18th, 2018
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Falling US crude stocks, threats to Nigerian fuel infrastructure

Oil prices rose on Thursday on a reported decline in US crude inventories, and as rebels in Nigeria threatened to attack the country’s petroleum infrastructure. However, prices stayed below recent three-year highs More...

By Felix OLOYEDE On Wednesday, December 13th, 2017
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OPEC production falls to six month low

Mohammed Barkindo, Secretary General, OPEC        Credit: REUTERS Oil market may not stabilize before end of 2018 despite Organization of the Petroleum Exporting Countries (OPEC) production reaching six month More...

By Felix OLOYEDE On Monday, December 4th, 2017
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OPEC Crude Output Drops to Six-Month Low

Mohammed Barkindo, OPEC Secretary General Crude production from the Organization of Petroleum Exporting Countries dropped again in November to a six-month low. Total production fell 80,000 barrels a day to 32.47 More...

By Okey Onyenweaku On Monday, December 4th, 2017
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Lagos revives abandoned waste to energy resourcing projects

By ABATAN ADEWALE JOSEPH Lagos state government is exploring every available opportunity to ensure power supply in the state in view of the dwindling performance of the energy companies in the country. As the business More...

By Okey Onyenweaku On Monday, November 13th, 2017
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YolaDisCo sale stalled as no potential buyers emerge

By ADEBAYO OBAJEMU Two years after the core investors of the Yola Electricity Distribution Company, YolaDisCo, declared a force majeure owing to their inability to operate under the reign of terror unleased by Boko More...

By Felix OLOYEDE On Wednesday, October 18th, 2017
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FG tasks NNPC to Stimulate Economic Growth through Aggressive Gas Devt

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Baru made this disclosure Dr Maikanti Baru, GMD NNPC on Tuesday in Lagos during a Gas Roundtable meeting for Chief Executives More...

By Okey Onyenweaku On Monday, October 16th, 2017
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NNPC: President Buhari’s house of corruption

NNPC in public consciousness is synonymous with corruption, Adebayo Obajemu takes a look at the series of landmark corruption allegations that define the oil giant KPMG in its report on corruption in NNPC gave a More...

By hallmarknews On Monday, August 1st, 2016
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Anambra govt signs S.25m MoU for 40MW power

Story by  ADEBAYO OBAJEMU Anambra State Government has signed a Memorandum of Understandings, MOU, with Zolts Energy Limited, for the construction of a 40-Megawatt embedded power generating plant in Ogbaru Local More...