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NCDMB Signs Investment Agreements with DUPORT Midstream, ERASKON on Energy Park, Oil blending plant

Bymajorwavesen

…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 the two partnerships expected…

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NNPC allays fears of possible fire on dripping Lagos pipeline

Bymajorwavesen

THE Nigerian National Petroleum Corporation, NNPC, has called on members of the public to discountenance reports of a possible fire outbreak from a vandalized point on its pipeline at Aboru Canal in Alimosho Local Government Area of Lagos State, saying that the there is no such hazard as the line in question has since been…

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NNPC produces 218.37bn cubic feet (BCF) of natural gas in March

Bymajorwavesen

The Nigerian National Petroleum Corporation (NNPC) has said that 218.37billion Cubic Feet (BCF) of natural gas was produced in March 2020, translating to an average daily production of 7493.65Million Standard Cubic Feet per Day (mmscfd). This was contained in the NNPC Monthly Financial and Operations Report for March, 2020 released through the corporation’s Group General…

Nigeria raises July selling prices for two of its crude grade hikes

Bymajorwavesen

By Ikenna Omeje Nigeria has raised its July official selling prices for two of its crude grade – Bonny Light and Qua Iboe crude to dated Brent plus 19 cents and plus 22 cents per barrel, respectively. Reuters reports that the country issued its official selling prices and commenced issuance of its latest loading programmes…

UNEP Ogoniland Report: Group asks FG to overhaul HYPREP

Bymajorwavesen

The Environmental Rights Action/Friends of the Earth has asked the Federal Government to quickly overhaul the Hydrocarbon Pollution Remediation Project (HYPREP) for effective implementation of the United Nations Environmental Program (UNEP) Report in Ogoniland.  In 2006, UNEP received a formal request from the Federal Government to carry out a comprehensive environmental assessment of oil-impacted sites in…

PSRO: World Bank approves $750m credit for Nigeria

Bymajorwavesen

By Ikenna Omeje World Bank has approved the Power Sector Recovery Operation (PSRO) of $750 million in International Development Association (IDA) credit facility for Nigeria. The Bank stated that the credit which was approved by its Board of Directors is aimed at improving the reliability of electricity supply, achieve financial and fiscal sustainability, and enhance accountability in…

FAAN moves corporate headquarters to Abuja

Bymajorwavesen

By Ikenna Omeje The Federal Airports Authority of Nigeria (FAAN) has relocated its corporate headquarters to Abuja, for operational efficiency and improved quality service delivery to its customers. This was made known in a statement released by the General Manager, Corporate Affairs, FAAN, Mrs Henrietta Yakubu on Tuesday 23 June. Mrs Yakubu said the relocation…

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COVID-19: DPR voices concern over recorded cases in offshore, remote locations

Bymajorwavesen

By Ikenna Omeje The Department of Petroleum Resources (DPR) has raised concern over recorded cases of COVID-19 in some offshore and remote locations, many of which are linked to non-adherence to established protocols. This was contained in a circular by DPR to all oil and gas operators on Tuesday 23 June. The Department says some personnel of…

Ikeja Electric set to meter 400,000 Customers in next two years

Bymajorwavesen

By Ikenna Omeje Ikeje Electric has expressed readiness to meter 400,000 customers in the next two years, as part of commitment to achieve the mandate of the Nigerian Electricity Regulatory Commission (NERC) to bridge the metering gap and reduce the incidence of estimated bills. This was disclosed in a release by the Head of Corporate…

NDDC pays N33b debts to Vendors in four months

Bymajorwavesen

By Ikenna Omeje The Niger Delta Development Commission (NDDC) has paid N33 billion as debts to its vendors since the inception of the expanded Interim Management Committee (IMC), inaugurated on February 20, 2020. The Director, Corporate Affairs, NDDC, Mr Charles Obi disclosed this on Monday while speaking during a press briefing at the Commission’s headquarters…