Posers would continue to be raised on what Nigeria has benefitted from privatisation of its power sector. Recall the purpose of privatisation was aimed at confronting various problems obstructing the sector’s development. These include limited access to power, poor generation and usage of power capacity, contradictory roles and responsibilities between government and holding companies, among…
By Julianne Geiger The American Petroleum Institute (API) reported a surprise draw of 2.13 million barrels of United States crude oil inventories for the week ending October 12, compared to analyst expectations that this week would see a build in crude oil inventories of 2.167 million barrels. Last week, the American Petroleum Institute (API) reported…
By Javier Blas For 45 years, it’s been considered out of bounds for Saudi Arabia. But suddenly, Riyadh made what many read as a veiled threat to use the kingdom’s oil wealth as a political weapon — something unheard of since the 1973 Arab embargo that triggered the first oil crisis. Saudi Arabia, the world’s…
The Nigerian National Petroleum Corporation (NNPC) has denied claims that it has in its custody 3.5 billion dollars Subsidy fund. NNPC Group General Manager, Group Public Affairs Division, Mr Ndu Ughamadu, disclosed this in a statement in Abuja on Tuesday. He explained that at the hit of the shortage of products supply at the close…
By Oke Peter Executive Secretary, Nigerian Content Development and Monitoring Board (NCDMB), Mr. Simbi Wabote says the planned 7 billion dollar Nigeria Liquefied Natural Gas (NLNG) Limited Train 7 plant will be done in-country by mostly Nigerian companies. Wabote disclosed this at a public workshop to discuss opportunities for the Nigerian content aspect of the…
