Oil prices climbed on the last trading day of the year on Monday, mirroring gains in stock markets, but were on track for the first yearly decline in three years amid lingering concerns of a persistent supply glut. Hints of progress on a possible U.S.-China trade deal helped bolster sentiment, which has been battered by…
In the whole of West Africa, Nigeria is the only producer of high-voltage cables and the sixth country to adopt the technology in the Africa. The Managing Director, Coleman Wires and Cables Limited, George Onafowokan, said this in an interview with The Guardian on Wednesday. He attributed its growth in the sector to many factors,…
The Minister of Power, Works and Housing, Babatunde Raji Fashola, has call for consistency and understanding in the privatized power sector, saying decision to privatize is a matter of policy and policies take time to take effect. “Let’s be consistent here and let us understand that the decision to privatize is a matter of policy….
By Haley Zaremba Solar makes sense. It’s cost efficient, it’s eco-friendly and has no carbon footprint, electricity is generated in the same grid where it is consumed, and the price of installing panels on residential rooftops is a fraction of what it cost just ten years ago, even after Donald Trump’s prohibitive tariffs slapped on…
The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of ₦9.85billion for the month of September 2018, a figure which is higher than the previous month’s deficit of ₦3.90 billion. Details of the report which is contained in the newly released September 2018 edition of the NNPC Monthly Financial and Operations Report indicated…
Royal Dutch Shell said on Wednesday it has begun output at its Prelude Floating Liquefied Natural Gas facility in Australia, the world’s largest floating production structure. It is also the last of a wave of eight LNG projects built in the country over the last decade. The project started up later and cost more than…
Damilola Shittu – Abuja Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Baru, on Monday assured of uninterrupted supply of fuel during the Christmas and New Year celebrations and beyond, saying it has 60-day fuel in stock. He said the corporation imports about 60 million litres of fuel daily, while it…
The Chairman of Forte Oil Plc, Mr Femi Otedola, has announced his decision to sell all his shares in the firm’s downstream business. The Punch newspaper has reported. This is coming more than three years after the firm sold 17 per cent of its equity to a Swiss oil trading firm. Forte Oil disclosed on…
The $5.8bn Mambilla hydropower project, a 3.05GW hydroelectric facility that is to be developed on the Dongo River near Baruf in Kakara Village of Taraba State has suffered a setback which will not only push forward the expected date of operation but will also cost the country a loss of $2.3 billion as a result…
