Category: Business News
Business News
Income from rising oil prices will go for infrastructure -Buhari
By Oke Peter President Buhari has pledged to spend the income accruing to the country from the rising oil prices in the international market on infrastructural development. Receiving a delegation from Eni Group, led by the Chief Upstream Officer, Antonio Vella, the President said extra funds outside the provision of this year’s budget “will be…
Total’s Benoit Ludot, V.P., Deepwater and Subsea, Upstream, to deliver keynote at MCEDD 2018
The Gulf Quest LLC has announced that Total’s Benoit Ludot, V.P. of deep water and subsea, upstream, will deliver a keynote presentation at the Marine Construction Engineering Deepwater Development (MCEDD) conference on April 10, 2018 in Milan, Italy.Ludot’s presentation is titled “The future, beyond today, for ultra-deep offshore, ultra-harsh metocean environments through achievements in cost…
AfDB to focus more on power sector -Official
*The President, Africa Development Bank (AfDB), Dr Akinwumi Adesina, By Energy Worth Senior Director, Research and Development Nigeria Country Office of African Development Bank (AfDB), Mr. Faal Ebrima, has said that the bank will focus mostly on the power sector in 2018. Faal said this at an interactive session with newsmen at its first regional…
EEDC emerges overall first position in NEMSA safety ranking
By Energy Worth Enugu Electricity Distribution Company (EEDC) has emerged overall first position in the 2017 Nigerian Electricity Management Services Agency (NEMSA) Safety ranking; a remarkable leap from its fifth position in the 2016 NEMSA Safety ranking.The ranking was released by NEMSA in its Disco & TCN Ranking Trend for the year 2017 at the…
We ‘ll involve more Nigerians in meter manufacturing -FG
By Energy Worth The Federal Government has concluded plans to involve more Nigerians in meter manufacturing in order to boost revenue for the power sector to be able to expand capacity most especially in the distribution aspect in the electricity value chain.The Minister of Power, Works and Housing, BabatundeRaji Fashola SAN, stated this in Lagos recently…
Govs accuse NNPC of non-remittance of full JV proceeds for 5 yrs
From left,, Governor Aminu Masari of Kastina State ; Governor Abdul’aziz Abubakar Yari of Zamfara State and Governor Simon Lalong of Plateau State responding to questions from State House Correspondent shortly after the meeting with President Muhammadu Buhari at the Presidential Villa , Abuja on Thursday. The Nigeria Governors’ Forum (NGF) on Thursday in Abuja,…
$3.3bn Total’s Egina FPSO arrives Nigeria
By Energy Worth Nigeria’s oil and gas industry wednesday recorded another milestone as the $3.3 billion Floating Production Storage Offloading (FPSO) unit for the 200,000 barrels per day capacity Egina Deepwater oilfield arrived the country from South Korea.The Egina oilfield, which is being developed at the cost of $16 billion, would come on stream at…
NPDC targets 500,000 barrels of crude oil per day production
*NNPC GMD, Dr Maikanti Baru, during the inauguration of the board. The Nigerian Petroleum Development Company (NPDC), one of the upstream subsidiaries of the Nigerian National Petroleum Corporation (NNPC), will increase its daily crude oil production to 500,000 barrels per day before 2022.This target was announced by the Group Managing Director of the NNPC, Dr….
Baru lauds Civil Defense on nabbed 469,000 litres of petrol enroute Benin Republic
*The impounded truck arrested by NSCDC officials enroute Benin Republic on Tuesday. The Nigerian National Petroleum Corporation (NNPC) Group Managing Director, Dr. Maikanti Baru, has commended the Niger State Command of the Nigerian Security and Civil Defence Corps (NSCDC) on the eight trucks its men apprehended in Mokwa, Niger State on Tuesday.The trucks had a…
Oil prices getting higher, hit $80
Oil prices on Thursday hit their highest since December, 2014, pushed up after U.S. crude inventories posted a 10th straight week of declines and as the dollar continued to weaken. Oil prices rallied to three-year high, boosted by a record 10th straight weekly decline in U.S. crude inventories. International benchmark Brent futures were nudging 71 dollars per…