The Mozambican National Energy Fund (FUNAE) has signed an agreement with the Indian company Central Electronics Limited (CEL) for the installation of a factory to assemble photovoltaic electric systems in Mozambique.

The Nigeria Labour Congress (NLC) on Tuesday said the recent reduction in petroleum products price from N70 to N65 by the Petroleum Products Pricing Regulatory Agency (PPPRA) would have to be further reviewed downward to create meaningful impact on the

Aso Rock has put its foot down that fuel marketers must sell at N65 per litre or face sanctions, as the government is determined to stick to the price slash from N70.

Transport fare in the country has remained stable six days after the Petroleum Product Pricing Regulatory Agency (PPPRA) dropped an announcement of a price reduction in petrol from N70 to N65 per liter.

Many filling stations in Abuja and its suburbs have deliberately refused to sell fuel, while some of the stations are still selling at the old price of N70. Following the announcement on Thursday last week by the federal government on

Following reports that the Kenyan Mombasa oil refinery is due to shut down to undergo rehabilitation, Rwanda has started laying strategies to mitigate the possibility of a likely fuel crisis during this period.

FINANCIAL conglomerate Citigroup has cut its earnings estimate for petrochemicals group Sasol, citing lower than expected global oil prices.

Magodo in Isheri area of Lagos State is currently facing shortage of electricity supply and this has been on since late October. It is discovered that the transformer is faulty and this has caused total darkness in the area. The

The Federal Government on Tuesday said it has so far spent about $33 billion in the development of nine major deepwater discoveries since the opening up of offshore acreages in the country in 1993.

The Federal Government and international oil companies have so far spent about $33 billion in the development of nine major deepwater discoveries, the Group Managing Director of the Nigerian National Petroleum Corporation, Mr. Mohammed Sanusi Barkindo, said in Abuja yesterday.

The Johannesburg Road Agency (JRA) has completed the installation of solar-powered traffic lights at five critical intersections in the city, in a bid to ease traffic congestion during a power outage.

In spite of the artificial fuel scarcity that hit Abuja yesterday, President Umaru Musa Yar'Adua has warned that the Federal Government was not going back on its word on the reduction of fuel price from N70 to N65.

The Federal Government has agreed to raise a committee to address the complaints advanced by the two oil industry unions - National Union of Petroleum and Natural Gas Workers (NUPENG) and the Petroleum and Natural Gas Senior Staff Association of

Vice-President Goodluck Jonathan yesterday directed the Minister of Petroleum Resources to enforce the N65 per litre new pump price of petrol.

Presidency is determined to enforce the recent announced price cut in the pump price of petrol, it was learnt yesterday.

The Group Managing Director (GMD) of NNPC, Mr Mohammed Barkindo, yesterday said the corporation had spent 33 billion U.S. dollars (about N4.7 trillion) to date in the development of nine major deepwater discoveries.

Long queues have returned to petrol stations within Abuja. This is coming on the heels of the directive of the federal government that the pump price of Premium Motor Spirit, PMS, be reverted from the initial price of N 70

Indications emerged last night that world's second-largest oilfield-services provider and the US energy services group, Halliburton Inc., has agreed to pay $559 million to settle federal charges for its employee's bribing of officials in Nigeria.