Damilola Shittu – Abuja The Nigerian National Petroleum Corporation (NNPC) is to pay about $8 billion in arbitration claims to some of its Production Sharing Contractors (PSC). Group General Manager, Corporate Planning and Strategy (CP& S) of the Corporation, Mr. Bala Wunti, disclosed this in the 2018 quarter two publication of the NNPC. PSC was…
Depot and Petroleum Products Marketers Association (DAPPMA), said on Sunday, that unpaid subsidy arrears of over N650 billion by the Federal Government posed huge financial challenges to the downstream operations. DAPPMA Executive Secretary, Mr Olufemi Adewole, told the News Agency of Nigeria (NAN) in Lagos that the settlement of the debts owed them would save…
The lack of timely investments in building the LNG carrier fleet threatens market development and security of supply, which could materialize earlier than insufficient liquefaction capacity, Keisuke Sadamori, Director of the Office for Energy Markets and Security at the International Energy Agency, said earlier this week. The Paris-based energy watchdog’s comments come against the backdrop…
By Nixar Manek A self-declared republic in Somalia asked Ethiopia to reroute its nascent oil and gas exports via a proposed new pipeline, challenging Djibouti’s long-held plans for a conduit. The overture from Somaliland comes as Ethiopia begins exploiting an estimated 8 Tcf of natural gas and test-drilling for oil in its restive east. It’s…
Genera Manager, Engineering Services of Ajaokuta Steel Company, Babajide Suru, says another $652million would be required to complete the project. The Punch has reported. Suru also disclosed that about $6billion has already been sunk into the project, which puts it at 95 per cent completion. He disclosed this while briefing newsmen at the weekend, when…
