Category: Business News

The Nigerian National Petroleum Corporation (NNPC) consolidated on its tradition of openness and on Tuesday with the public harvesting and opening of 577 bids submitted by firms seeking to secure the insurance renewal contract for the Corporation’s oil and non-oil assets. Speaking at the event, NNPC Group General Manager, Risk Management and Insurance, Mr. Modupe…

By Oke Peter The Group Managing Director, Nigerian National Petroleum Corporation, Dr. Makanti Baru, on Monday visited the Presidential Villa, Abuja. The visit came at a time the fuel scarcity being witnessed across the country had persisted. It was not clear as of the time of filing this report who Baru met during his visit…

Pilot production at Egypt’s Eni SpA-operated Zohr natural gas field will begin “in the coming few days,” the oil ministry said, as the country nears its goal of commercial output from the biggest gas discovery in the Mediterranean Sea by the end of this year. Gas is being pumped from the national distribution system to…

By Oke Peter The West African Gas Pipeline Reverse Gas Flow Project is expected to be ready by second quarter of next year, to ensure free flow of gas from Aboadze to Tema for power generation, Energy Minister, Boakye Agyarko has said. Currently, gas from oilfields in the western coast only terminates at the Aboadze…

By Oke Peter The Nigerian government is planning to generate 3,000MW of electricity by the year 2020. The plan includes 10, 000 mini-grids which will energize under served off-grid communities across the country. The Managing Director, Rural Electrification Agency (REA), Mrs Damilola Ogunbiyi disclosed this at the on-going energy conference on Mini Grid in Abuja….

Hanwha Total Petrochemical, a 50/50 joint venture between Hanwha and Total, will invest more than $300 Million to expand its integrated refining & petrochemicals platform located in Daesan, South Korea. The investment will increase the site’s polyethylene capacity by more than 50% to 1.1 million tons per year by the end of 2019. This project…

A 30MVA 132/33kV power transformer of the Transmission Company of Nigeria (TCN) was  lost to fire yesterday afternoon at the Nkalagu  transmission substation, Enugu. In a statement signed by the GM Public Affairs, Mrs.  Mbah, TCN said that the Old 30MVA power transformer which had already been earmarked for replacement in line with TCNs Transmission…

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru has called on foreign investors to partner with the Corporation in its multi-billion dollar projects expected to come up in the New Year. Dr. Baru, who made the call in London at the Forbes Award on him, said the Corporation would…

By Oke Peter After serving for five years as the Chairman of the Nigerian Electricity Regulatory Commission (NERC), playing a role part in the power sector privatisation exercise for the federal government, the immediate past chairman of NERC, Dr. Sam Amadi, last night condemned the privatisation of Nigeria’s power sector, saying it was not the…

The oil and gas giant, Eni, together with its Area 4 Partners, announces that the Coral South FLNG multi-sourced project financing achieved financial close, for a total amount of $4,675,500,000. Coral South FLNG is the first project sanctioned by the Area 4 Partners for the development of the considerable gas resources discovered by Eni and…