By Ikenna Omeje The Federal Executive council has approved the payment of €15.21 million and N1.708 billion as counterpart funding for the Presidential Power Initiative (PPI), a power upgrade and modernization programme between the Nigerian government and Siemens with the support of the German government. This was disclosed on the official Twitter handle of the…
By Ikenna Omeje Italian energy giant, Eni, has taken step to cut its operation costs by 1.4 billion euros this year, because of the economic challenges occasioned by Covid-19 global pandemic. This was part of the consolidated results for the second quarter and first half of 2020 (not subject to audit), approved by the company’s…
Seplat Petroleum Development Company Plc, a leading Nigerian independent energy company listed on both the Nigerian Stock Exchange (NSE) and the London Stock Exchange (LSE), said it is set to drill two gas wells this year, as it announced a new cash reserves of to $343million despite lower revenues, for the six months ended 30…
By Ikenna Omeje The Senior Special Assistant to President Muhammadu Buhari on Media, Garba Shehu, has said that Nigeria’s electricity export on credit to Benin, Niger Republic between 2018 and 2019, is currently $20 million not $81.48 billion. Shehu, who was reacting to a report by Punch Newspaper with the title: ““NIGERIA EXPORTS USD81.48bn ELECTRICITY…
Italian energy giant, Eni has announced the discovery of new oil resources in the Western Desert of Egypt with a new exploration well in the South West Meleiha (SWM) Concession, adding production in the Concession started just one year ago and is now in excess of 12,000 bopd. A release by the company on Tuesday, said…
Ikenna Omeje The Nigerian Communications Commission (NCC) has said it undertook a revision of the framework stipulating the processes for resolving consumer complaints arising from service delivery by telecoms operator in order to achieve greater effectiveness in the sector and to strengthen the protection of telecoms consumers and other stakeholders.This was contained in a release…
Shell Companies in Nigeria (SCiN) including Shell Petroleum Development Company Limited (SPDC), Shell Nigeria Exploration and Production Company (SNEPCo) and Shell Nigeria Gas (SNG) have contributed in various ways to the development of the economy. Besides contributions through payment of taxes and royalties, among others, they have also through their social investment projects, helped to…
By Mordi Chukwunonso Margaret Okojokwu, representing Majorwaves Energy Report, alongside six other women have been admitted as founding members of the maiden Diversity Sectorial Working Group (SWG) of the Nigerian Content Consultative Forum, NCCF. The group was officially inaugurated by the Executive Secretary of the NCDMB, Engr Simbi Wabote in a virtual engagement meeting with…
..projects to create 1500 jobs The Nigerian Content Development and Monitoring Board (NCDMB) on Friday signed equity investment agreements with two companies-Duport Midstream Company for the establishment of an Energy Park in Egbokor, Edo State and Eraskon Nigeria Limited, for a lubricating oils blending plant in Gbarain, Bayelsa State.The Board’s investments will catalyse industrialization, with…
Describes it as spurious, malicious, and a piece of fake news. The management of the Nigerian Content Development and Monitoring Board (NCDMB) has reacted to claims by an online medium that the Minister of State for Petroleum Resources, Timipre Sylva, demanded the sum of $20 million from the agency to fund Bayelsa re-run elections.This is…
