Federal Government Unveils Plans for Maximizing Revenue from Crude Oil Wells In a bid to bolster revenue from Nigeria’s crude oil sector, the Federal Government has announced a strategic policy evolution aimed at optimizing the utilization of all available oil wells in the country. Senator Heineken Lokpobiri, the Minister of State for Petroleum Resources, revealed…
Minister of Power Offers Apology to Nigerians Over Controversial Remarks on Electricity Tariff In a recent development, Minister of Power, Adebayo Adelabu, has issued an apology to Nigerians following his contentious comments regarding electricity tariffs. Speaking on Channels Television’s Politics Today program, Adelabu expressed regret for his remarks, acknowledging that they were delivered carelessly. During…
Court Orders Restoration of Eko Electricity Management Amidst Board Crisis The ongoing board dispute at Eko Electricity Distribution Company Plc (EKEDP) took a dramatic turn last Thursday when Hon. Justice D . U Okorowo of the Federal High Court in Abuja issued an order for the reinstatement of the management team led by Dr. Tinuade…
NERC Greenlights Expansion of Band Feeders, Boosting Power Supply in Lagos In a significant development for electricity consumers in Lagos, the Nigerian Electricity Regulatory Commission (NERC) has given the green light to the upgrade of 33 additional feeders in the franchise area of Eko Electricity Distribution Company (EKEDC) to Band A status. Under the newly…
Better and faster results as Shell introduces unmanned survey in Nigeria By Precious Okolobo It’s January 14, 2024, and Accession 500, a small Uncrewed Surface Vessel (USV) is riding the waves around Bonny into the history books of survey in the oil industry in Nigeria. Remotely controlled by personnel on shore, the USV runs along…
US Gulf Coast Heavy Crude Oil Prices Rise Amid Supply Constraints April 10, 2024 Recent weeks have witnessed a surge in prices for heavier crude oil varieties along the U.S. Gulf Coast, with trading approaching parity with lighter oil—a trend signaling supply constraints that could contribute to the upward trajectory of gasoline prices. Refineries dotting…
Nigerdock Delivers Community Projects Worth N1.5 Billion In a commitment to fostering positive relations with its host communities, Nigerdock, an esteemed oil and gas industry service firm, handed over Corporate Social Responsibility (CSR) projects valued at N1.5 billion to Igbologun, a Lagos community. Speaking at the handing over ceremony held at the Igbologun Community in…
Africa Data Centres and DPA Southern Africa Break Ground on Solar Farm in Free State Africa Data Centres, in partnership with DPA Southern Africa, has initiated the construction of a solar farm in the Free State region, marking a significant step towards renewable energy adoption in South Africa’s data centre industry. The groundbreaking ceremony, which…
NNPC CEO Highlights Gas’s Vital Role in Driving Economic Growth and Industrial Progress Mele Kyari, the Group Chief Executive Officer (GCEO) of the Nigerian National Petroleum Company Limited (NNPC Ltd.), has emphasized the pivotal role of natural gas in propelling economic growth and industrial development in Nigeria. Speaking at the public presentation of the book…
Dangote Cement Declares N511 Billion Dividend for FY 2023 Shareholders of Dangote Cement Plc are set to receive a dividend payout of N511.215 billion for the financial year ended December 2023, translating to a reward of N30.00 for each share held. The board of directors of Dangote Cement Plc, leveraging the authority vested in it…