The Federal Government and some oil firms lost an estimated $67.92m (N24.45bn) in revenue in eight days following the suspension of exports of Forcados, one of the nation’s largest crude oil grades. Shell declared force majeure on Forcados loading programme on April 6 after the Trans Forcados Pipeline was shut down on April 4 by…
The Managing Director of LADOL Free Zone (LADOL) Dr. Amy Jadesimi says working or collaborating with other African countries can help battle COVID-19 pandemic. Dr. Jadesimi who is a Supergroup founding member of the African Influencers for Development Initiative (AIDI), which is a coalition set up with the United Nations Development Programme (UNDP) disclosed…
Traditional rulers under the aegis of Traditional Rulers of Oil Producing Communities in Nigeria (TROMPCON) have called on oil companies to remit their three percent contributions to Niger Delta Development Commission (NDDC) or leave the region. Its Secretary, Oba Dr. Obafemi Ogbaro, the Odoka of Ogbaro kingdom made the call on behalf of the group…
A group, the All Electricity Consumers Protection Forum, on Sunday flayed electricity distribution companies (DisCos)’ refusal to implement the directive on capping of estimated bills to customers. Its National Coordinator, Adeola Samuel-Ilori, in a statement issued in Lagos, said the companies had continued to issue exploitative bills to customers in spite of the directive by…
Top oil-producing countries agreed Sunday to record output cuts in order to boost plummeting oil prices due to the new coronavirus crisis and a Russia-Saudi price war. OPEC producers, dominated by Saudi Arabia, and allies led by Russia met via videoconference for an hour Sunday in a last-ditch effort to cement an accord struck early…
The Socio-Economic Rights and Accountability Project (SERAP) has urged Federal Government to share the N37 billion earmarked for the renovation of National Assembly complex to states as part of COVID-19 relief. SERAP said this in a statement signed by its Deputy-Director, Mr Kolawole Oluwadare in Lagos on Sunday. He said the group had written a…
Nigeria on Easter Sunday joined its other Organisation of Petroleum Exporting Countries (OPEC)+ counterparts to bring into effect the agreement to cut 9.7 Million Barrels of supply. The Minister of State for Petroleum Resources, Chief Timipre Sylva, who disclosed this in a statement, said the development followed the alignment of Mexico. He added that the…
The South African Chamber of Commerce and Industry (SACCI) has signed a strategic partnership with Africa Oil & Power (AOP) for the second year. SACCI constructively influences the environment in which business operates in South Africa and has around 20,000 members. AOP 2020 serves as a platform for bold and decisive policy-making decisions…
A Cape Town-based exhibition builder, together with an event organizer, offer to work with governments and private sectors across Africa to rapidly build hospital infrastructures and shelters in the midst of the COVID-19 pandemic. Cape Town, 8 April 2020 – Afrika Umoja, an initiative initiated by Cape Town temporary architecture specialists, HOTT3D with…
… Says fuel subsidy removal for benefit of ordinary Nigerians The Nigerian National Petroleum Corporation (NNPC) will no longer be involved in the management of the nation’s refineries after their rehabilitation. This was disclosed Wednesday by the Group Managing Director of NNPC, Mallam Mele Kyari, in an interview on Arise TV breakfast programme, The Morning…
