NNPC eyes capital market for funds

The Nigerian National Petroleum Corporation (NNPC) is set to hit the Capital market to fund its new projects which include the NNPC/NAOC JV Idu-Re-development, South Gas Project, North Gas Project and Central Gas Project. OPEC Secretary-General Barkindo, Oil Minister Ibe Kachikwu and NNPC GMD Maikanti Baru Group Managing Director of the corporation, More...

by Uchenna Ajah | Published 8 months ago
By Uchenna Ajah On Thursday, June 21st, 2018

Kachikwu: Nigeria opposes boost in crude oil supply

Minister of state for Petroleum Resources, Dr. Emmanuel Ibe Kachikwu, said Nigeria would advise against additional oil supply to the global market by OPEC and non-OPEC members. Dr Emmanuel Ibe Kachikwu: states More...

By Uchenna Ajah On Thursday, May 24th, 2018

Lagos set date to launch Embedded Power Supply Project

The Lagos State Government has revealed plans to launch the Embedded Power Supply Project come July 2018. Ambode The power project is targeted at generating 3,000 megawatts of electricity for the state within the More...

By Uchenna Ajah On Friday, May 18th, 2018

AMCON takes over Sen. Oduah’s assets

The Asset Management Corporation of Nigeria (AMCON) has taken over Sea Petroleum Oil & Gas Ltd. and other assets belonging to Sen. Stella Oduah-Ogiemwonyi over an unpaid debt of about N20 billion. AMCON takes More...

By Uchenna Ajah On Friday, May 18th, 2018

Crude prices hits above $80 since late 2014

Benchmark oil contract Brent North Sea briefly surged above $80 a barrel Thursday, hitting its highest level since late 2014 and extending a recent run higher fuelled by tight supply concerns. European stock markets More...

By Uchenna Ajah On Tuesday, May 8th, 2018

Disclose details of spending in power sector, SERAP asks Fashola

The Socio-Economic Rights and Accountability Project (SERAP) has asked the Minister of Power, Works, andHousing, Mr Babatunde Fashola (SAN) to urgently provide details of spending on the privatisation of the More...

By Uchenna Ajah On Saturday, May 5th, 2018

AfDB approves $1.5m for Jigawa power project

The African Development Bank (AfDB) says it has approved  a grant of 1.5 million dollars (about N540 million) to support power project in Jigawa State. AfDB President Akinwumi Adesina Mr Amadou Hott,  Vice President, More...

By Uchenna Ajah On Saturday, April 28th, 2018

Ikoyi to experience 5-hour outage Sunday – EKEDC

The Eko Electricity Distribution Company (EKEDC) has announced a five-hour outage in Ikoyi and environs from 10.00am to 3.00pm on Sunday. Mr Godwin Idemudia, the EKEDC General Manager, Corporate Communications, More...

By Uchenna Ajah On Thursday, April 26th, 2018

Shell profits rise on back of soaring oil prices

Royal Dutch Shell on Thursday reported a 42 percent rise in first-quarter profit, its highest in over three years, boosted by higher oil prices and production. Royal Dutch Shell CEO Van Beurden: Q1 profit soars Expectations More...