GERMANY AND AUSTRIA TO TAP OIL RESERVES AFTER 400 MILLION BARRELS REQUESTED. (PHOTO).

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 Germany and Austria to tap oil reserves after 400 million barrels requested  Germany and Austria announced they are releasing portions of their oil reserves in response to an International Energy Agency request for member nations to collectively release 400 million barrels to help ease rising energy prices linked to the Iran conflict. Japan also said it will begin releasing part of its reserves starting Monday. The move marks one of the largest coordinated releases of emergency oil stocks in history. The previous record came in 2022, when IEA members released 182.7 million barrels following the energy disruptions caused by Russia’s invasion of Ukraine. Member countries currently hold over 1.2 billion barrels of public emergency oil stocks, along with an additional 600 million barrels of industry stocks maintained under government requirements. The release comes amid heightened tensions in the Persian Gulf, where Iran has targeted commercial ships and disrupted shipping throug...

LASG INCREASES BLUE RAIL LINE TRIPS TO 72 PER DAY, INTRODUCES 25% FARE DISCOUNT FOR OFF-PEAK TRAVELS. (PHOTO). #PRESS RELEASE.


 LASG INCREASES BLUE RAIL LINE TRIPS TO 72 PER DAY, INTRODUCES 25% FARE DISCOUNT FOR OFF-PEAK TRAVELS



The Lagos Rail Mass Transit (LRMT) Blue Line will from Monday, 12th August 2024 increase its number of trips from 54 to 72 per day. However, the current schedule for Sunday operations remained unchanged


The Managing Director of Lagos Metropolitan Area Transport Authority (LAMATA), Engr. Mrs. Abimbola Akinajo announced this weekend that Blue Line train riders will now travel between Marina and Mile 2 in just about 18 minutes from the previous travel time of 25 minutes.


According to her, the implication is that there would be a train every 18 minutes both ways, thus allowing commuters to plan their trips.


Apart from this, Engr. Akinajo also announced a 25 per cent discount fare for commuters travelling within the off-peak period set at 10.00 am and 4.00 pm daily.


The new train schedule is potentially expected to reduce journey times, encourage more riders to use the train system during off-peak periods and reduce transport spending. The new timetables are available on the LAMATA website, stations and social media handles.


Recall that the Blue Rail Line commenced passenger operation on 4th September 2023 and has moved close to two million passengers.

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