Daniel Terungwa After approval of Tullow sale to Total, the government and joint venture partners in the Lake Albert Development Project are now working on pending issues to meet the December target for Final Investment Decision (FID). Energy Minister Mary Goretti Kitutu gave the approvals on Wednesday, October 21 – marking Tullow’s exit from Uganda’s…
Daniel Terungwa The Minister of Mineral Resources and Energy, Mr Gwede Mantashe, announces the adjustment of fuel prices based on current local and international factors with effect from the 4th of November 2020. South Africa’s fuel prices are adjusted on a monthly basis, informed by international and local factors. International factors include the fact that…
Japaul has entered into agreement with Chinese firm, Xiang Hui International Mining Nigeria Company Limited, for a $12million mining project in four Nigerian states. This is part of plans by the company to diversify its operation, from Maritime Services. The agreement signed between the two firms will take off immediately, and employ not less than…
By Mordi Chukwunonso Esther The Small and Medium Enterprises Development Agency of Nigeria (SMEDAN), has said that about 40 million of existing businesses in that category, representing 96 per cent were not formalised enterprises. This was disclosed on Monday before the House of Representatives Committee on Poverty Alleviation while defending the agency’s N16.155 billion budget…
By Mordi Chukwunonso Esther The department of petroleum resources has warned the Liquified Petroleum Gas (LPG) retail outlets against cylinder to cylinder gas refilling and decanting due to associated risks. The warning was given by the operations controller, Yola DPR office, Mr Sadeq Ibrahim, at a one day sensitisation meeting with gas retailers in the…
By Mordi Chukwunonso Esther The New Petroleum Industry Bill (PIB) currently before the National Assembly has proposed that oil companies operating in some communities must develop a community development plan to ensure their economic growth. The new bill obtained by the News Agency of Nigeria (NAN) revealed that the companies are expected to engage with…
By Mordi chukwunonso Esther The new Petroleum Industry Bill (PIB) before the National Assembly is proposing the revocation of licenses for oil and gas companies who neglect their obligations to the host communities. The bill obtained by the News Agency of Nigeria (NAN) revealed that the power to revoke the licenses is vested on the…
By Mordi Chukwunonso Esther Minister of State for the FCT, Dr Ramatu Aliyu has urged youths to come up with smart ideas that will equip them to access between N250,000 and N50 million of the N75 billion Nigerian Youth Investment Fund for sustainability. The minister made this call in Abuja on the maiden edition of…
As Nigeria continues to battle the challenges of epileptic power supply in the country, Jos Electricity Distribution Company (JEDC) has said it recorded no fewer than 200 cases of meter bypass and 54 cases of transformer vandalism in six months. This was disclosed by the JEDC’s Head, Corporate Communications, Dr Adakole Elijah, on Monday in…
As excitement around the removal of petrol subsidy declines amid concerns with the delay of the Petroleum Industry Bill (PIB), stakeholders in downstream petroleum have faulted the existing arrangement on the basis that it lacks a legislative foundation. The industry operators also espoused concepts of self-regulation, discipline and standard-setting as important components of the new…
