Statoil has given the final go-ahead to a flagship Arctic oil project after slashing costs by half. While expected, the move by Norway’s biggest oil company is a boost to a region seen as key to arresting a decline in the country’s production. In a striking illustration of how oil companies have adapted to lower…
The Nigerian National Petroleum Corporation (NNPC) has once again emphasized that there is no plan to increase the prices of petroleum products both at the ex-depot level and pump price ahead of the forthcoming yuletide. The NNPC in a release informed that the ex-depot petrol price of N133.38 per litre and the pump price of…
In a bid to salvage the fuel supply and distribution challenges witnessed in some parts of the country due to panic buying from motorists, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Kacalla Baru, Tuesday, cut short his trip to London. Dr. Baru, who was billed to receive the Forbes…
By Oke Peter Nigeria has received a $359million support from the World Bank to fund the Nigeria Electrification project (NEP), the Rural Electrification Agency (REA), on Tuesday, disclosed. Out of the sum, a total of $150million was allocated to the Mini grid project, while approval for the project is expected in April 2018, the agency’s…
