Category: Business News

By Oke Peter The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr Maikanti Kacalla Baru, has stated that the Federal Government has mandated the Corporation to pursue an aggressive gas development programme to stimulate economic growth in the country. Dr. Baru made this disclosure recently in Lagos, during a Gas Roundtable meeting…

By Oke Peter Oil prices rose on Monday, over supply concerns in the Middle East and as the U.S. market showed further signs of tightening while demand in Asia keeps rising. Brent crude futures, the international benchmark for oil prices, were at $57.84. U.S. West Texas Intermediate crude futures were at $52.03 per barrel. The…

In this exclusive interview with Marcus Heal, Chief Executive Officer, Pan Africa Solar – at Future Energy Nigeria, he will be part of a panel discussion on Solar Projects in Nigeria. What is the background on Pan Africa Solar. Pan Africa Solar is well known in Nigeria as the ‘front-runner’ solar developer and we are…

By Oke Peter There seems to be no end in sight to the downward operational performance of Nigeria’s refineries since the beginning of 2017 despite several interventions made to reinvigorate the facilities by the Nigerian National Petroleum Corporation (NNPC). The latest monthly oil and gas report released by the national oil firm showed that the…

By Oke Peter The immediate past president, Dr. Goodluck Jonathan, has tackled the ruling All Progressives Congress (APC) and the Minister of Power, Works and Housing, Mr. Babatunde Fashola, over the latter’s struggles with the power sector. Jonathan, who spoke in Abuja while receiving PDP chairmanship aspirant, Professor Tunde Adeniran, also added that APC has…

By Oke Peter The average price paid by consumers for Premium Motor Spirit, popularly known as petrol, dropped by 1.2 per cent year-on-year, the Nigerian Bureau of Statistics (NBS) has said. According to a report on the NBS website, the bureau also listed states with the highest and lowest average price of petrol in comparison…

By Oke Peter The Shell Petroleum Development Company (SPDC), says the degradation of the environment in the Niger is mainly due to spillages from the activities of crude oil thieves, sabotage of facilities, illegal refining and other third party interferences, rather than negligence by the company.   Representatives of the oil multinational firm who spoke in…

By Oke Peter Shell Petroleum Development Company has said that its economic contribution to the Nigerian government in four years is $29bn. The company’s General Manager, External Relations, Mr. Igo Weli, made this known in Yenagoa, the Bayelsa State capital, during the 2017 Swamp West Hub Integrated Stakeholders Engagement Forum for Tarakiri/Egbema/Oporoma Community Leadership. Weli,…

By Oke Peter An international organisation that promotes activities in power and energy sector in the world, EnergyNet Limited, has announced that its 2017 edition of Latin America and Caribbean Gas Options summit will hold between 16th and 17th November in Panama City. The event will be taking place under the aegis of the Secretariat…

By Oke Peter An International oil giant, TAG OIL has announced updates on its operations in New Zealand and Australia. According to the release, the firm’s Net production in New Zealand averaged approximately 1,110 boe/d over September, which is down slightly from the 1,169 boe/d (79% oil) average over the three months ended June 30,…