Damilola Shittu – Abuja The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, yesterday said the Federal Government was targeting about two billion dollars from oil and gas lease licences renewal. Kachikwu disclosed this while fielding questions from newsmen at the just concluded Nigerian International Petroleum summit, on Wednesday in Abuja. “We projected for…
Oke Peter with Agency Report No fewer than two persons and five vehicles were burnt on Wednesday morning at Barracks Bus Stop, along Mile 2 on Badagry Expressway after a 33,000 litre fuel tanker fell and exploded. The Director of Lagos State Fire Service, Mr Musibau Rasaki confirmed the incident to the News Agency of…
German auto maker giant Volkswagen has just upped its bet on electric vehicles (EVs) by announcing it will begin manufacturing batteries and charging stations for those cars, which the company plans to also start mass producing soon. The Wolfsburg-based company said it would invest 870 million euros (about $985 million) by 2020 to develop e-vehicle…
ExxonMobil said today that it has reached a final investment decision and started construction on a new unit at its Beaumont, Texas refinery that will increase crude refining capacity by more than 65 percent, or 250,000 barrels per day. The third crude unit within the facility’s existing footprint will expand light crude oil refining, supported…
Esther Ajibola – Lagos In line with its belief that the future of Nigeria should be in Nigerian hands, Samsung Heavy Industries (SHI) has set a new record on Nigerian content in the oil and gas industry as it has trained another batch of internationally-certified female welders. Speaking to journalists, one of the beneficiaries of…
By Cyril Widdershoven The political power struggle in Venezuela is heating up, and there seems to be no real solution on the horizon yet. The surprise move by Venezuela’s opposition leader Juan Guaido to declare himself interim president on Wednesday has backed the country’s president Nicolas Maduro into a corner. The outcome of this power…
By Oke Peter The ongoing investment in refining, petrochemicals, fertilizer and gas is driven by the desire to bring innovation and efficiency into all aspects of Nigeria’s oil and gas sector, the President/Chief Executive, Aliko Dangote has said. Dangote, who made this disclosure yesterday, at the ongoing Nigeria International Petroleum Summit (NIPS), in Abuja, said…
Despite recent assurance by the Federal Government that there were no irregularities in the ongoing renewal of over 42 oil licences, stakeholders in the oil and gas sector, yesterday, raised the alarm over the ongoing exercise. Even though the Petroleum Act of 1969, as well as the Petroleum (Drilling & Production) Regulation of 1969 (as…
A suspected vandal, Saifullahi Sa’idu, of the Kadangaru Quarters, Dutsin-ma Local Government Area of Katsina State, is now in police custody after suffering serious burns while allegedly attempting to steal cables from a power transformer in Dutsin-ma town. According to The Punch, Sa’idu was initially admitted to the General Hospital, Dutsin-ma before he was arrested…
By Sean Fleming At a site in the Western Desert, some 650 kilometre south of Cairo, one of the world’s largest and most ambitious solar energy projects is underway. The Benban Solar Park will produce enough electricity to power one million homes. But more than that, it is part of a whole new strategy for…
