Shell Nigeria assets: Analysts say due diligence rests with bidders
Ben Eguzozie
September 6, 2021
But sale offers great value Only 20% of assets seen to be commercial It is up to bidders to do their due diligence in the run up to the fire sale of its 30 percent interest in 19 oil mining leases (OMLs) in Nigeria by Shell Petroleum Development Company (SPDC), although the sale […]
Capegate maps out 150MW waste to electricity in Kano
Onome AmugeSeptember 2, 2021
plan to generate 10 megawatts (MW) of electricity by 2022 from waste, and ramping it up to 150MW before 2025 in Kano State, is being promoted by Capegate Investment Limited, an Abuja based waste management company. The company had earlier signed a 20-year Public Private Partnership (PPP) refuse management contract with the Kano State […]
NNPC to charge Nigerian government for services, says Kyari
Chris IkosaSeptember 2, 2021
The Nigerian National Petroleum Corporation (NNPC) Nigeria’s state-owned oil company, will cease to provide free services to the federal government of Nigeria after it is completely commercialized in a few months, Mele Kyari, group managing director of the corporation said in a monitored interview. Kyari noted that all services rendered to the government, including […]
NLNG clarifies role in Nigeria’s gas value chain as LPG shortfall persists
Ben EguzozieSeptember 2, 2021
Says primarily an LNG exporter Produces 22mtpa LNG, 5mtpa NGLs LPG market huge opportunity for investors Nigeria’s gas liquefaction company NLNG has absolved itself from the lingering domestic liquefied petroleum gas (LPG) supply shortfall, which has led to astronomic market prices of cooking gas. One kilogramme of the product currently sells for […]
Total Nigeria appoints Seye as new managing director
Businessam StaffSeptember 1, 2021
Samba Seye is the new managing director of Total Nigeria Plc following the approval of his appointment by the board of the oil company. In a statement signed by Bunmi Popoola-Mordi, the company’s secretary, Seye whose appointment takes effect from September 1, 2021, is replacing Imrane Barry, the outgoing managing director who has been […]
NNPC’s Kyari ties 44-year historic N287bn profit to cost-cutting, efficiency, investment
Ben Eguzozie & Onome Amuge, Mike OchonmaAugust 31, 2021
By Mike Ochonma, Ben Eguzozie & Onome Amuge In Stock Exchange-styled ‘Facts Behind the Figures’, GMD explains road to profitability Leads to call for a Saudi Aramco-style IPO President commends corporation Sylva, board commends management In a Stock Exchange-styled ‘Fact-Behind-the-Figures’ presentation, Mele Kyari, group managing director, Nigerian National Petroleum Corporation (NNPC), has said […]
Enugu DisCo appoints new CEO with mandate to reduce ATC&C of 62%
Ben EguzozieAugust 30, 2021
Enhance service delivery to customers The Enugu Electricity Distribution Company (EEDC), one of the 11 electricity distribution companies in Nigeria, has appointed Chorghade Praveen, former chief of engineering at India’s Tata Power, as the new managing director and chief executive officer. Praveen, with 38 years of experience in the electricity value chain, […]
Breaking! NNPC makes history, declares N287bn profit after tax, first time in 44 years
Onome AmugeAugust 26, 2021
By Onome Amuge Nigeria’s state-owned national oil company, Nigerian National Petroleum Corporation (NNPC) has broken its own 44 years loss-making history since it was established by recording a profit after taxation of N287 billion, for the year ended December 31, 2020. President Muhammadu Buhari, who also serves as minister for petroleum resources, made […]
MOSOP says no Ogoni green light on OML 11 resumption, faults NPDC’s accord with OLI
Ben EguzozieAugust 26, 2021
Believes adequate consultation not done yet Cited non-conclusion of Ogoni clean-up Petroleum experts advise NNPC starts PIA implementation with OML 11 The Movement for the Survival of the Ogoni People (MOSOP) has faulted the recent accord reached between the Nigerian Petroleum Development Company (NPDC) and Ogoni Liberation Initiative (OLI) headed by Douglas Fabeke, […]
NNPC to deploy electronic system in monitoring fuel distribution
Onome AmugeAugust 25, 2021
By Onome Amuge The Nigerian National Petroleum Corporation (NNPC) plans to deploy electronic tracking devices to monitor fuel distribution across the country and curtail smuggling activities as a result. Mele Kyari, group managing director of the corporation, made the disclosure at the 2022 to 2024 Medium-Term Expenditure Framework (MTEF) and Fiscal Strategy Paper […]