Delta community shuts down Agip’s oil facilities over breach of GMoU
Ben Eguzozie
October 26, 2021
Oil company yet to wriggle out of N50bn law suit in Bayelsa State Tuomo community in Burutu local government area of Delta State and host to Nigeria Agip Oil Company’s (NAOC) oil/gas facility, has shut down the facility over what the community folks described as “breach of agreement and failure to provide basic […]
Sterling Bank advances investment vision with specialised solar energy technology
Businessam StaffOctober 20, 2021
Sterling Bank has enhanced its recognition as Nigeria’s leading innovative bank with its installation of building integrated photovoltaic (BIPV) energy technology as a primary source of energy in its headquarters, becoming the first African corporate organisation to record such development. Dele Faseemo, group head, energy, at Sterling Bank, who made the disclosure in a statement […]
Oil sector R&D set for a boost as Dangote Refinery, NCDMB join forces
Ben EguzozieSeptember 14, 2021
Local content agences looks to ramp up Nigeria content above 10% Research and development (R&D) in the oil and gas sector of the economy looks set for a fresh impetus with the recent coming together of Dangote Oil Refinery and the Nigerian Content Development and Monitoring Board (NCDMB) to promote these critical issues […]
Bayelsa signs power supply agreement with NCDMB
Ben EguzozieSeptember 13, 2021
With huge gas deposits, state wallows in power lack Ranks among financially insolvent states Bayelsa State government has entered into a purchase agreement with the Nigerian Content Development and Monitoring Board (NCDMB) to ensure regular power supply to the Government House complex in Yenagoa and environs. NCDMB operates a 10-megawatt gas-powered independent […]
Finally, analysts get details as NNPC publishes financials showing N278bn PAT
Ben EguzozieSeptember 9, 2021
Analysts, including accountants, auditors and other financial experts who have held reservations over the historical N278 billion 2020 profit after tax announced by state-owned oil giant, Nigerian National Petroleum Corporation (NNPC) have now been given an opportunity to take a closer look at the numbers with the publication of the audited financial statement for the […]
57,000 manpower expected on site as Dangote Refinery heads to 2022 delivery
Ben EguzozieSeptember 8, 2021
Canvasses Nigeria’s diversification from crude oil The Dangote Refinery project is to increase the human capacity at the refinery site to 57,000 in the coming months, up from the 40,000 personnel already on the project. Aliko Dangote, president and chief executive of Dangote Industries Limited, said the project currently employs 29,000 Nigerians […]
NNPC chief blames undersupply for hiccups in Nigerian gas value chain
Ben EguzozieSeptember 8, 2021
Mele Kyari, group managing director, Nigerian National Petroleum Corporation (NNPC), has explained that the present hiccups in the Nigerian gas value chain is as a result of product undersupply, assuring that the corporation was working with relevant agencies to ensure that the price of liquefied petroleum gas (LPG) or cooking gas becomes affordable by increasing […]
NNPC begins preparations for IPO in 2024, reveals CEO Kyari
Charles AbuedeSeptember 7, 2021
The Nigerian National Petroleum Corporation (NNPC), has set a three year target date for its public listing, giving strongest hints yet to the local and international investor communities to prepare for a possible initial public offering (IPO) in 2024. These hints are on the back of an outlined goal for the corporation in the […]
NNPC’s Kyari says price differentials fuels Nigeria’s petrol smuggling
Chris IkosaSeptember 6, 2021
80% products consumed in 13 neighbouring countries from Nigeria But industry watchers advocate only in-country refining can lower costs Mele Kyari, group managing director of the Nigerian National Petroleum Corporation (NNPC) recently explained that the prevailing huge price differentials in pump price of petrol in Nigeria and its neighbouring countries is the sole […]
Port Harcourt DisCo losing 30% of revenue to meter bypass thieves
Ben EguzozieSeptember 6, 2021
Goes tough on offenders The management of Port Harcourt Electricity Distribution Plc (PHED), one of the 11 DisCos in the country, has vowed to arrest and prosecute any person, group of persons or corporate body found to be engaged in meter bypass in its network. PHED’s franchise area are: Rivers, Bayelsa, Akwa Ibom, […]