Category: Business News

Leaders at all levels in the country have been called upon to pay attention to the intellectual development of the youth if the country must attain sustainable growth. Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, gave this charge at a book launch in Abuja today. Dr. Baru who was…

Petrobras and ExxonMobil today signed a memorandum of understanding regarding a strategic alliance to jointly identify and evaluate potential business opportunities. The memorandum of understanding was signed in Rio de Janeiro today by Pedro Parente, president of Petrobras, Brad Corson, president of ExxonMobil Upstream Ventures, and Stephen Greenlee, president of ExxonMobil Exploration Company. Petrobras and ExxonMobil will…

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,…