FG affirms removal of VAT on cooking gas
The Federal Government has confirmed the removal of Value Added Tax (VAT) on Liquefied Petroleum Gas (LPG) in Nigeria, otherwise known as cooking gas. This means that the cost of LPG, commonly referred to as cooking gas, will be relatively stable, thus attracting many investors and users in the country.
‘Oil market’s fragility may go worse with another outage’
The supply disruptions in the oil market may not be over, despite volatility and prices easing in the days after the Abqaiq attack. Precisely, oil prices are back to the days of hovering a little above $60 a barrel.
Oil geopolitics and resource maximization for social good
Economies dependent on a single resource like oil for revenue are currently being challenged by new discoveries and innovative exploration practices. While the realities are heightening the volatility in the market, oil-producing countries that fail to manage proceeds of mineral resources for social welfare may be the worst hit by emerging realities. FEMI ADEKOYA and…
Demand for gas cylinders rises as LPG conversion deepens
The significant growth in local consumption of Liquefied Petroleum Gas (LPG), which is pegged at about 600,000 metric tonnes yearly, has been hinged on many Nigerians converting to the use of cooking gas for domestic and commercial uses.
Renewable energy as alternative source of power and funding of renewable energy in Nigeria
Abstract Nigeria has been mainly dependent on the conventional electrical energy for a long time, with little effort being done to develop alternative renewable sources of energy. The electrical energy is insufficient to fulfill the energy needs in Nigeria, with statistics pointing out that 80% of the country’s population thrives on combustible biomass from the…
AfDB approves $500,000 grant for clean energy in Nigeria
The African Development Bank (AfDB) has approved 500,000 dollars grant to support the development of clean energy in Nigeria.
Oil price may rally above $70 post-Saudi attacks, says Platts data
Oil prices could test the US$80 a barrel Brent Crude price, following the attacks on the Abqaiq facility and the Khurais oil field in Saudi Arabia this weekend, S&P Global Platts Analytics said in a note.
Technology, changes in energy mix key to meeting Paris Agreement
Existing technology would be enough to contain global warming to the COP21 pledge of 1.5°C but only if the energy transition is backed by strong enforcement of policies set out in the Paris Agreement...