Seplat advocates technology adoption to improve forecasts, reduce risks in oil&gas industries
Adesola Afolabi
August 10, 2019
Nigeria and London Stock Exchange listed oil&gas firm, Seplat Petroleum Development Company Plc., is advocating for the right adoption of contemporary technologies like Artificial Intelligence (AI), big data and mobile technology to drive planning and forecast in the Nigerian oil and gas industry. According to the oil and gas firm, the adoption of AI will […]
European refiners jostle for Nigeria’s Egina oil over high yields
Businessam StaffAugust 9, 2019
Nigeria’s newest export crude, the medium sweet Egina, is proving popular with European refiners due to its high distillate yields, as output from the Total-operated field nears its full capacity of 208,000 barrels of crude oil per day. The Egina deepwater field, which was developed at the cost of $16 billion by French oil giant, […]
African trade agreement will boost electricity generation, supply, say GENCOs
Businessam StaffJuly 10, 2019
The electricity generation companies, GENCOs, say they are optimistic the African Continental Free Trade Area (AfCFTA) agreement signed last Sunday in Niamey, Niger Republic by all heads of government of the African Union will boost power generation and supply in the continent. The companies, under the aegis of the Association of the Power Generation Companies […]
Eterna Plc looking to increase its retail footprint as it clocks 30
Chris IkosaFebruary 12, 2019
Eterna Plc is looking to scale up its presence in the Nigerian downstream oil and gas sector as the company celebrates its 30th year of operating in the Nigerian economy. Mahmud Tukur, chief executive officer of the company said the company plans 200 new retail outlets in the country in the next five years, which […]
Nigeria’s greatness depends on developing non oil sector – NEPC
Afolabi OluwaseunFebruary 7, 2019
Babatunde Faleke, executive secretary, Nigerian Export Promotion Council (NEPC), Thursday, said that for Nigeria to progress there is a need for the citizens to live as if the nation does not have crude oil for export. Speaking at NACCIMA Export Group’s 1-day interactive session, themed “Assessing and Analyzing Non-oil Export Prospect”, Faleke stated that Nigeria […]
AEDC to meter over 200,000 of its customers as part of its mass metering scheme
Bukola OdufadeAugust 7, 2018
Abuja Electricity Distribution Company has said it will flag off the installation of 222,728 meters valued at about N10 billion for its customers under the second phase of its mass metering programme. AEDC had in the first phase installed about 150,000 meters for its customers across the Federal Capital Territory (FCT), Kogi, Nasarawa and Niger […]
OPEC predicts ‘considerable uncertainty’ in market direction in coming months
Businessam StaffJune 12, 2018
After months of sharp oil price rises there is now considerable uncertainty as to the market’s direction for the rest of the year, Organization of the Petroleum Exporting Countries (OPEC) said Tuesday ahead of key meeting of oil producers. Question marks over global economic growth, and resulting oil demand, as well as over US producers’ […]
Nigerian power transmission firm increases capacity with new installations
Ayobami AdedinniJune 12, 2018
The Transmission Company of Nigeria, (TCN) has increased the nation’s grid capacity by 330MVA, with the installation of four additional new transformers in Kaduna State, including a 1x150MVA transformer in Mando substation, 1x60MVA transformer in Zaria substation and 2×60 MVA in its substation in Kakuri. The company also completed the re-conducting of its 132kV double […]
Shareholders commend Transcorp on leading role in improving electricity in Nigeria
Businessam StaffMay 2, 2018
Shareholders of Transnational Corporation of Nigeria Plc (Transcorp) have commended the board and management of the company for its impressive contribution to transforming the Nigerian power sector, through its power subsidiary, Transcorp Power. They gave the commendation at the 12th annual general meeting of the company, which held on April 30, 2018, in Lagos. The […]
Seplat reports 282% revenue growth in 1 year, becomes profitable
Businessam StaffMay 1, 2018
By Adesola Afolabi Seplat Petroleum Development Company Plc. listed on both the Nigerian Stock Exchange and London Stock Exchange, on Monday announced its un-audited first quarter results. The Nigerian independent oil and gas group reported a 282 per cent growth in Revenue from contracts with customers to N55.2 billion in March 2018 from N14.5 billion […]