By Ikenna Omeje The umbrella body for power Distribution Companies, Association of Nigerian Electricity Distributors (ANED), has called for zero import duty on meters. In a Press statement on Sunday, the Executive Director, Research and Advocacy of ANED, Chief Sunday Oduntan said, “There is an urgent need for the Government to intervene so…
By Ikenna Omeje In Federal Government’s commitment to sustaining the ease of the lockdown on business at the Nation’s Sea Ports, the Minster of Transportation, Rt. Hon. Rotimi Chibuike Amaechi has commissioned two tug boats; MT Musawa and MT Ikoro-Ekiti, in Lagos. This was contained in a release issued by the General Manager, Corporate…
By Ikenna Omeje The Niger Delta Development Commission (NDDC), said it distributed sophisticated medical equipment in the nine states of the Niger Delta region, as part of its contributions to the fight against COVID-19 pandemic. A release by the Director, Corporate Affairs NDDC, Charles Obi Odili, said that the Acting Managing Director of the Commission,…
By Ikenna Omeje Seplat Petroleum Development Company has announced the completion of transfer of the business activities and assets of Oil Mining Leases (OMLs) 4, 38 and 41 from the Holding Company to its wholly owned Subsidiary, Seplat West Limited, for operational efficiency. In a notification to the Nigerian Stock Exchange (NSE) on Thursday, the company…
By Ikenna Omeje Nigeria Liquefied Natural Gas (NLNG) on Thursday, donated medical equipment worth $300,000 to Lagos State Government as part of its contribution to the US$30 million Oil and Gas Industry Collaborative Initiative, spearheaded by Nigerian National Petroleum Corporation (NNPC) to fight the COVID-19 pandemic. A release signed by the General Manager,…
By Ikenna Omeje The Organization of Petroleum Exporting Countries (OPEC) has said that Global oil demand is expected to decline by 6.4 million barrels per day (mb/d) in the second half of 2020 (2H20), compared with a decline of 11.9 mb/d in the first half (1H20) of the year. According to the OPEC…
By Ikenna Omeje African Development Bank (AfDB), Nigerian Agip Oil Company (NAOC), Plateau State Government and the Nassarawa State Government have congratulated the new Managing Director, Transmission Company of Nigeria (TCN), Engr. Sule Abdulaziz, on his appointment. Abdulaziz recently received his appointment letter with effect from May 19, 2020, alongside his top management…
By Ikenna Omeje The Niger Delta Development Commission (NDDC) has reopened its headquarters in Port-Harcourt, after two weeks shutdown. Following the sudden death of the Acting Executive Director, Finance and Administration, NDDC, Chief Ibanga Bassey Etang, the commission some weeks back shut down its headquarters, which it said was a sort of precautionary measure…
By Ikenna Omeje The Organization of Petroleum Exporting Countries (OPEC) Reference Basket (ORB), increased by $7.51 to $25.17 per barrel, averaging 42.5 percent in May. According to the OPEC Monthly Oil Market Report for May, the recovery of prices was mainly because of the historic voluntary production cuts by Declaration of Cooperation (DoC) participating…
By Ikenna Omeje The Director, Department of Petroleum Resources (DPR), Engr. Sarki Auwalu has inaugurated the network code operationalization team for the full implementation of the Nigeria Gas Transportation Network Code (NGTNC). NGTNC which was launched by the Minister of State for Petroleum Resources, Chief Timipreye Sylva in February, at the Nigeria International Petroleum Summit…