NDIC Returns N1.2bn to Depositors in Liquidated Microfinance Banks The Nigeria Deposit Insurance Corporation, NDIC, on Tuesday disclosed that it has refunded over N1.2 billion to about 34,000 depositors of 179 microfinance banks, whose licenses were recently revoked by the Central Bank of Nigeria, CBN. Managing Director and Chief Executive Officer of NDIC, Bello Hassan,…
Seplat Energy JV Concludes 2023 Edition of Seplat Energy PEARLs Quiz Seplat Energy Plc, leading Nigerian independent energy company, has concluded the 12th edition of Seplat Energy JV PEARLs Quiz, which is one of its signature educational Corporate Social Responsibility initiatives. Don Bosco Science Academy, Ekpoma, Edo State emerged winner, bagging the coveted prize of…
ENL Consortium, China’s Lianyungang Port Holding Sign Port Development Pact Nigeria’s leading terminal operator, ENL Consortium Nigeria Limited has signed an agreement with Chinese port operator, Lianyungang Port Holding Group Ltd, to deepen investment at the Lagos Port Complex Apapa and boost trade between both countries. ENL Consortium is the operator of Terminals C and…
Recent Oil Mega-Deals Show Hydrocarbons are here to Stay – Saudi Enery Minister Saudi Energy Minister Prince Abdulaziz bin Salman says that recent multi-billion dollar acquisitions by U.S. oil majors Exxon Mobil and Chevron of smaller rivals showed that hydrocarbons were “here to stay”. “Exxon, Chevron didn’t buy because they want to have stranded assets,”…
NCDMB Boss Warns Federal Government Against Altering Petroleum Industry Act The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote, has cautioned against making constant alterations to the structures established by the Petroleum Industry Act 2021, as it could erode investor confidence and hinder the progress of new projects…
Nigeria’s Decade of Gas will Support Global Energy Security – NLNG MD The Decade of Gas plan is the most comprehensive plan to restore efforts to fully harness Nigeria’s vast gas resources and ensure a reliable global supply of gas as a clean energy source and a major fuel in the energy transition mix, the…
Governor Fubara Cautions Rivers Youths against Criminality Rivers State Governor, Sir Siminalayi Fubara has cautioned youths to stay away from criminality but engage in meaningful ventures while propagating news of productive activities taking place in their immediate communities. The governor noted that doing so will be a deliberate attempt by them to showcase the State…
Oil Prices Ending on a High Note for Second Week in a Row Crude oil prices ended the week in the green for the second week in a row as geopolitical tensions in the Middle East continue to worry markets. Crude oil prices ended the day on a down note after Israel agreed to delay…
U.S. Drillers Add Oil and Gas Rigs for Second Week in a Row -Baker Hughes U.S. energy firms this week added oil and natural gas rigs for a second week in a row for the first time since mid-September, energy services firm Baker Hughes said in its closely followed report on Friday. The oil and…
Shell to Complete Maintenance at Prelude LNG By Mid-November, Sources Say Shell is expected to complete maintenance at its flagship Prelude liquefied natural gas (LNG) facility off Australia by mid-November, two sources close to the project told Reuters on Wednesday. The British energy giant started maintenance work at the 3.6-million metric ton a year floating…
