NNPC collaborates with Usmanu Danfodiyo University to develop energy conversion, storage system
Wale Ameen
March 6, 2021
…Project’s details not known yet …Energy experts seek more credible gown-town partnership Ben Eguzozie, in Port Harcourt The Nigerian National Petroleum Corporation (NNPC) is to collaborate with the Usmanu Danfodiyo University (UDU), Sokoto, to develop an energy inter-conversion and storage system which would serve as catalyst for Nigeria’s economic development and transformation. […]
NLNG’s $7bn Train 7 faces headwinds over alleged non-compliance with Bonny Kingdom, core host’s local content
Wale AmeenMarch 5, 2021
…BKLCCC accuses gas company of neglect of its contractors …But NLNG says it considers core host as trusted partner Ben Eguzozie, in Port Harcourt Nigeria’s foremost gas liquefaction company’s (NLNG) incoming $7 billion Train 7, which is the country’s boldest effort in gas business in nearly a decade, faces headwinds over alleged non-compliance […]
Pandemic pressures put chill on Seplat numbers as FY20 revenues tumble 10.8% y/y to N190.9bn
Wale AmeenMarch 3, 2021
Gross profit toppled 63.1% y/y from N121.5bn to N44.8bn in 2020 due to lower oil prices, higher non-production costs 2021 outlook places production guidance at 48-55 kboepd, subject to market conditions as firm hopes to hedge against price volatility Charles Abuede Seplat Petroleum Development Company, the Nigerian independent energy company that is listed […]
Optimism grows on oil demand returning 100mbd
Businessam StaffSeptember 29, 2020
The whiff of optimism being expressed in respectable quarters about chances that oil demand could yet return to the psychological comfortable figure of 100 million barrels per day received another heavyweight support last week with ConocoPhillips joining the fray to issue a forward-looking statement that demand will not only return to that number but that […]
Ewelukwa takes over as NBET acting MD
Businessam StaffDecember 26, 2019
Mr. Nnaemeka Ewelukwa has taken over as the acting Managing Director/CEO of the Nigerian Bulk Electricity Trading Plc (NBET). He took over from Dr. Marilyn Amobi, who left the post on a ministerial order Tuesday. The Minister of Power, Engr. Sale Mamman, had asked Amobi to step down immediately over complaints raised by staff and […]
Nigerian law makers will demand accountability in power sector, says senate president
Businessam Staff, Mudashir TundeNovember 5, 2019
Tola Akinmutimi President of the Senate, Ahmad Lawan, on Monday, said that the Ninth National Assembly would demand accountability and transparency in the nation’s power sector funding, particularly in the application of funds proposed for it in the 2020 budget. The lawmaker made this remark when Joseph Chiedu Ugbo, managing director of Niger Delta […]
We may have to worry about peak oil demand soon
Businessam StaffNovember 4, 2019
By Mudashir Tunde A peak oil demand might continue to result in its rise in value for the next ten years if the world leaders implement low-carbon policies more strictly according to the Head of the Oil Industry & Markets Division at the International Energy Agency (IEA), Neil Atkinson. Speaking to CNBC today, Neil said, “If the world does […]
NGO offers free business training to boost economic activities in Jos
Hope IkweOctober 28, 2019
By Hope Ikwe, Jos A non- governmental organization known as New Identity, in a bid to empower investors with necessary skills, boost economic activities and reduce poverty, has decided to offer free business seminars in Jos. Funmi Adefeko, founder of New Identity, a Havard Business School trainee who has worked with the Coca-Cola company for […]
Seplat advocates technology adoption to improve forecasts, reduce risks in oil&gas industries
Adesola AfolabiAugust 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, […]