Category: Business News
Business News
NPSC to partner with private sector in building pipelines
The Nigerian Pipeline Storage Company (NPSC), one of the downstream subsidiaries of the Nigerian National Petroleum Corporation NNPC, is set to partner with the private sector to build more pipelines parallel to the corporation’s existing ones.The Group Managing Director of the NNPC, Dr. Maikanti Baru, urged the new Board of the NPSC during their inauguration…
No plan to go on strike, PTD chairman tells NNPC
Petroleum Tanker Drivers Branch of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) has assured the Nigerian National Petroleum Corporation (NNPC) that it had no plan to embark on any strike action.PTD Chairman, Otunba Oladiti Salman, who spoke with the NNPC Group General Manager, Group Public Affairs, Mr. Ndu Ugbamadu, on Friday stated…
Baru appeals to NUPENG over ultimatum
*NNPC GMD, Dr Maikanti Baru.The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, Friday in Abuja has appealed to the leadership of the Nigeria Union of Petroleum and Natural Gas Workers (NUPENG) to reconsider the 15-day ultimatum it issued government over what the union described as lingering labour related issues…
CNOOC Limited announces 2018 business strategy and development plan
CNOOC Limited has announced its business strategy and development plan for the year 2018.The Company’s net production target for 2018 is 470 million to 480 million barrels of oil equivalent (BOE), of which, production from China and overseas accounts for approximately 64% and 36%, respectively. The Company’s net production for 2017 is expected to be approximately 469…
OPEC holds 7th International Seminar in Vienna June 20
The Organization of the Petroleum Exporting Countries (OPEC) will host the 7th OPEC International Seminar at the Imperial Hofburg Palace in Vienna, Austria, on 20−21 June 2018 under the theme, ‘Petroleum – cooperation for a sustainable future’. The Seminar will provide fresh impetus to key petroleum industry issues and challenges, helping to enhance existing avenues of…
ExxonMobil earns $19.7bn in 2017; $8.4bn in fourth quarter
Exxon Mobil Corporation has announced an estimated 2017 earnings of $19.7 billion, or $4.63 per share assuming dilution, compared with $7.8 billion in 2016. U.S. federal tax reform in the fourth quarter resulted in a non-cash earnings gain of $5.9 billion, due to revaluation of deferred income tax balances. Non-cash asset impairments of $1.5 billion were recorded during…
Nigeria, Niger sign MoU, set to build refinery in Katsina in 60 days
*Dr Ibe Kachikwu, Minister of State for Petroleum Resources. By Energy Worth Nigeria and the Niger Republic, will in 60 days time sign binding bilateral and technical agreements that will enable both countries develop and build a new petroleum refinery in a Katsina State town which borders both countries, the Ministry of Petroleum Resources has…
Steven Kandarian elected to ExxonMobil Board
*Steven Kandarian Exxon Mobil Corporation has announced the election of Steven A. Kandarian to its board of directors, effective February 1, 2018. Kandarian is the chairman, president and chief executive officer of MetLife Inc.With the election of Kandarian, the ExxonMobil board stands at 11 directors, 10 of whom are non-employee directors.Kandarian’s experience leading a large international…
REA MD, Damilola Ogunbiyi visit Reps, defend 37 varsities’ electrification project
The Managing Director, Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi, during the House of Representatives Committee on Power public hearing, in Abuja.By Energy WorthThe Managing Director of the Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi was at the public hearing on Rural Electrification Schemes in some Universities which held on the 25th January, 2018 at…
NNPC to explore PPP arrangements for corporation’s oil, gas pipelines
*NNPC GMD, Dr Maikanti Baru (right), during the inauguration of the board at the NNPC Towers, in Abuja, on Wednesday. The Group Managing Director of the Nigerian National Petroleum Corporation (NNC), Dr. Maikanti Baru, has urged the new Board of one of its downstream subsidiary companies, the Nigerian Pipeline Storage Company (NPSC), to partner with…