Category: Business News
Business News
Africa GreenTec installs first solar container in Niger
A German start-up has commissioned its first solar container in the Tahoua region of Niger, a thoroughfare for nearly 90% of African refugees. Africa GreenTec, has designed a unit that relies on a mobile 41-kWp solar photovoltaic installation and a 60-kWh battery storage system to provide electricity to the village of Amaloul Nomade, which is not…
OPEC caps Nigeria and Libya’s oil output at 2017 levels
By Oke Peter The Organisation of Petroleum Exporting Countries (OPEC), on Thursday, took a decision to cap the output of Nigeria and Libya at 2017 production levels without deciding on the figures. The oil cartel also agreed to extend oil output cuts until the end of 2018 as part of the global efforts to eliminate…
ExxonMobil merge refining and marketing divisions …Names Milton President
Exxon Mobil Corporation announced today it will combine its refining and marketing operations into a single company, ExxonMobil Fuels & Lubricants Company, in the first quarter of 2018. Bryan Milton, currently president of ExxonMobil Fuels, Lubricants & Specialties Marketing Company, has been appointed president of the combined division by ExxonMobil’s board of directors, effective Jan….
OPEC concludes 173rd meeting
The 173rd Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Thursday, 30 November 2017, under the Chairmanship of its President, HE Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, and Head of its Delegation. The Conference congratulated HE Mustapha Guitouni,…
OPEC concludes 173rd meeting
The 173rd Meeting of the Conference of the Organization of the Petroleum Exporting Countries (OPEC) was held in Vienna, Austria, on Thursday, 30 November 2017, under the Chairmanship of its President, HE Khalid A. Al-Falih, Minister of Energy, Industry and Mineral Resources of Saudi Arabia, and Head of its Delegation. The Conference congratulated HE Mustapha Guitouni,…
Obasanjo commends NNPC for ensuring National Energy Security
Former President, Chief Olusegun Obasanjo, has commended the Management of the Nigerian National Petroleum Corporation (NNPC) for ensuring an uninterrupted supply of petroleum products which he noted was an integral part of energy security in the country. In a speech presented on his behalf by an aide to the former President, Chief Idowu Akanle, at…
FG charged to privatise NNPC, reduce powers of petroleum minister
By Oke Peter The Former Deputy Governor of Central Bank of Nigeria (CBN) on Thursday charged the federal government to amend some structures of public corporations such as the Nigerian National Petroleum Company (NNPC) to create room for improvement and accountability. The former deputy governor of the country’s apex bank, Professor Kingsley Moghalu, made the…
Total completes largest refinery in Europe
Total has inaugurated the new units at its Antwerp integrated refining and petrochemicals platform, which have progressively started up in the last few months. This event marks the completion of the upgrade program launched in 2013 of one of the largest and most efficient integrated refining and petrochemicals platforms in Europe. Thus, the company has…
Russia sees oil-cut extension as consensus with OPEC emerges
Russia’s Energy Minister, Alexander Novak, expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia. “We have reached in general a mutual understanding” on the future of the deal, Novak said in…
Russia sees oil-cut extension as consensus with OPEC emerges
Russia’s Energy Minister, Alexander Novak, expects OPEC and its allies to reach a decision on Thursday to extend their pact to curb oil output as signs of a growing consensus emerged with the cartel’s biggest producer Saudi Arabia. “We have reached in general a mutual understanding” on the future of the deal, Novak said in…