Category: Business News

The Transmission Company of Nigeria (TCN) thursday disclosed that it recorded new national peak electricity transmission capacity of 5,155.9 Megawatts (MW) on December 8. The Interim Managing Director of TCN, Usman Gur-Mohammed, made the disclosure at an interaction with journalists in Abuja. Gur-Mohammed said the new record exceeded previous national peak record of 5,074.70 recorded…

The Nigerian National Petroleum Corporation (NNPC) has stated that its adoption of a 24-hour depot and retail services cleared the fuel queues in Abuja, Lagos and many states across the country. NNPC Chief Operating Officer, Ventures and Chairman of the NNPC Special Task Force on Fuel Monitoring, Dr. Victor Babatunde Adeniran, made this disclosure to…

By Oke Peter Ngozi Deborah Atalor, a Shell Nigeria LiveWIRE entrepreneur has emerged winner of the pitching competition for young Nigerian entrepreneurs in alternative energy business as part of the #makethefuture Accelerator event held in Port Harcourt, taking home N1million prize money to boost her business. This is coming barely a month after she won…

Seven Energy Finance Limited has announced the terms of the Group’s capital restructuring and, in particular, the entry into a lock-up agreement (the “Lock-up Agreement”) by inter alia (1) Seven Energy; (2) the Company; (3) Savannah Petroleum PLC (“Savannah”); and (4) certain of the Group’s lenders including an ad hoc group of holders (the “AHG”)…

By Oke Peter African presidents reached a strong consensus to focus on regional integration, inclusive growth and youth empowerment in order to achieve continued and sustained growth on the continent at the Africa 2017 Forum in Sharm El Sheikh, Egypt. President of Egypt Abdel Fattah Al Sisi hosted African heads of state and business leaders including…

The Africa 2017 Forum wrapped up in the Egyptian resort city of Sharm el Sheikh with a clear message of intent from President Al Sisi to bring Africa closer together. President Abdel Fattah El Sisi hosted five African heads of state and top business leaders from across the continent. The Heads of State stressed on…

ExxonMobil has announced today the completion of a transaction by ExxonMobil Development Africa B.V. to acquire a 25 percent indirect interest in Mozambique’s gas-rich Area 4 block from Eni and assume responsibility for midstream operations. ExxonMobil will lead the construction and operation of all future natural gas liquefaction and related facilities, while Eni will continue to…

The Nigerian National Petroleum Corporation (NNPC) would continue to offer unflinching supports to indigenous private investors in the nation’s Oil & Gas Industry. Group Managing Director of the Corporation, Dr. Maikanti Baru, gave this assurance while speaking at the official commissioning of an ultra-modern 300 million-litre capacity tank farm built by a local private investor,…

The Board of Directors of Total met on December 12, 2017 and declared a 2017 second interim dividend of €0.62 per share, in accordance with the Board’s decision of July 26, 2017, unchanged compared to the 2017 first interim dividend and representing an increase of 1.6% compared to the 2016 second interim dividend. The Board…

Brent crude in London reached its highest since 2015 as a key North Sea pipeline shut down. The Forties Pipeline System, one of the most important oil conduits in the world, is to be fully halted after a crack was discovered, the link’s operator Ineos said. The announcement boosted pricing that had been largely muted…