Category: Business News
Business News
Scores missing as gas explosion causes panic in Bayelsa community
Scores of persons are still missing in Nembe community, Bayelsa State, after a gas explosion from the Creek Trunk Line operated by the Aiteo Eastern Exploration and Production Company in the community. According to The Punch, the explosion caused tension among indigenes of the seven communities of Nembe in Nembe Local Government area of the…
Dangote explains investment in refinery, petrochemicals
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…
Militants blow up Conoil facility in Bayelsa
Oke Peter with Agency Report A Niger Delta militant group, known as the Koluama Seven Brothers, has blown up a crude oil pipeline owned by Conoil in Bayelsa State. The group launched the bomb attack on the pipeline located at Koluama community in the Southern Ijaw Local Government Area of the state late on Friday….
CSR: Eko Disco donates food items to orphanages
The General Manager, Corporate Communications, Eko Electricity Distribution Company (EKEDC), Mr Godwin Idemudia, said the company distributed food items to orphanages in 10 districts within its network. Idumudia said on Thursday, in Lagos that the gesture was part of the company’s Corporate Social Responsibility (CSR). Idemudia said the food items were distributed between December 20,…
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PTDF to leverage NNPC, NCDMB capacity to boost R&D
Nigeria’s Petroleum Technology Development Fund (PTDF), has said it would leverage existing in-country capacity available at the Nigerian National Petroleum Corporation (NNPC), and Nigerian Content Development Monitoring Board (NCDMB), to address the challenges of research in the nation’s oil sector. Speaking at a meeting organised for members of the National Board of Trustees (NBT) for…
UK-IFC partnership aims to mobilise $2bn in financing for green construction
A member of the World Bank Group, International Finance Corporation (IFC) and the government of the United Kingdom announced today a new partnership to help transform construction markets by crowding in as much as $2 billion in public and private sector financing for certified green buildings in emerging markets. The UK-IFC Market Accelerator for Green…
ExxonMobil, QIPP power firm to invest $1.6b in A’Ibom
Oil giants, ExxonMobil and power firm QIPP, have initiated plans to invest a combined $1.6 billion in the development of gas and power projects in Akwa Ibom State soon. According to The Sun, the initiative would see QIPP invest $1.1 billion in the building of a gas power plant with ExxonMobil investing $500 million in…
NNPC counters DAPPMAN’s strike with 52-day fuel stock
Nigerian National Petroleum Corporation (NNPC) has assured petroleum products consumers across the country not to engage in panic buying in the countdown to depot shutdown by Depot and Petroleum Products Marketers Association of Nigeria (DAPPMAN) from Monday. The NNPC, countering the impact of the shutdown said it holds 2.6billion litres of petrol and 90,000 metric…