NCDMB to Implement Changes for Enhanced Nigerian Content Fund The Nigerian Content Development and Monitoring Board (NCDMB) are set to introduce strategic changes aimed at bolstering the Nigerian Content Intervention (NCI) Fund, aiming to amplify its impact and efficiency. Engr. Felix Omotsola Ogbe, the Executive Secretary of NCDMB, disclosed these plans during a quarterly engagement…
Access Bank Honored as ‘Best Trade Partner Bank West Africa’ by IFC Access Bank has been recognized as the ‘Best Trade Partner Bank West Africa 2024’ by the International Finance Corporation (IFC). The prestigious award was presented at the Global Trade Partners Meeting (GTPM) held in Barcelona, Spain, underscoring Access Bank’s exceptional performance and dedication…
Central Bank of Nigeria Revokes Heritage Bank’s License Amid Financial Concerns The Central Bank of Nigeria (CBN) has taken the significant step of revoking the license of Heritage Bank, effective immediately. This decision was communicated through a statement by Hakama Sidi-Ali, the Acting Director of the Corporate Communications Department, on Monday in Abuja. Sidi-Ali cited…
Kenyon International CEO Advocates for Utilizing Nigeria’s Idle Brownfields to Boost Oil Production and Meet Local Refining Demands Dr. Victor Ekpenyong, CEO of Kenyon International, has underscored Nigeria’s potential to significantly enhance its oil production and address local refining needs by leveraging its idle brownfields. Speaking at the Oil Well Intervention Conference (OWIWA 2024), West…
Fatal Fire at Lukoil Refinery in Komi Republic A tragic incident occurred yesterday at a Lukoil-operated refinery in Russia’s northern Komi Republic, resulting in the loss of two lives, as reported by Reuters, citing Russia’s environmental regulator. Contrary to initial speculations of a drone attack, the head of the Komi Republic clarified that the fire…
NUPRC’s Komolafe Clinches Champion Newspapers’ Most Outstanding Regulator Award Engr. Gbenga Komolafe, the Chief Executive of the Nigerian Upstream Petroleum Regulatory Commission (NUPRC), has been honored with the prestigious Most Outstanding Regulator of the Year Award by Champion Newspapers. The ceremony took place at the renowned Eko Hotels & Suites in Victoria Island, Lagos. Presenting…
FG To Commission Nedogas 300 MMscfd Kwale Gas Gathering Facility Nedogas Development Company Limited (NDCL), a Joint Venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company, has in collaboration with the NNPC Gas Infrastructure Company (NGIC), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, successfully completed the construction and technical commissioning…
FG to commission Nedogas 300 MMscfd Kwale Gas Gathering facility Nedogas Development Company Limited (NDCL), a Joint Venture company between Xenergi Limited and NCDMB Capacity Development Intervention Company, has in collaboration with the NNPC Gas Infrastructure Company (NGIC), a subsidiary of the Nigerian National Petroleum Company (NNPC) Limited, successfully completed the construction and technical commissioning…
OPEC+ Extends Deep Oil Production Cuts into 2025 OPEC+ agreed on Sunday to extend most of its deep oil output cuts for 2024 but to start phasing them out in 2025, as the group seeks to shore up the market amid tepid global demand growth, high interest rates and rising rival U.S. production. Oil prices…
Geregu Power, Siemens Energy Strike Deal to Upgrade Generation Capacity to 500MW Foremost Nigerian power generation solutions provider, Geregu Power Plc, has entered a pact with Siemens Energy to jointly develop solutions for capacity expansion at the Geregu 1 power plant. The aim of partnership is to ensure sustainable, resilient, and efficient power generation while…