Oil prices on Thursday fell on concerns over the potential economic impact of the coronavirus that continues to spread worldwide, while the market also considered the possibility of an early OPEC meeting. Brent crude LCOc1 was down 90 cents, or 1.50 per cent, at $58.91 per cent a barrel by 1447 GMT, having risen 0.5…
The Department of Petroleum Resources (DPR) has launched its digitization initiative for Downstream operations under the ‘Autimated Downstream System’ (ADS) program. Mr Paul Osu, Head, Public Affairs of the agency made the disclosure in a statement issued on Thursday in Lagos. Osu said that the digitization initiative is designed to improve overall efficiency and accelerate…
A scheme, Aje Micro Credit Scheme, aims at building wealth for Badagry residents and its environs through small loans to qualified functional business owners and artisans was on Thursday launched in the town. The scheme owned by the Yinka Folawiyo Petroleum Co. Ltd., is to offer small loans to the beneficiaries under the umbrella of…
The Management of Transmission Company of Nigeria (TCN) hereby repudiate the allegation by the national arm of Senior Staff Association of Electricity and Allied Companies (SSAEAC) which stated that TCN is yet to remit its N29m Check-off dues. The company in a statement issued and made available to TBI Africa said quoted that the publication…
The Eko Electricity Distribution Company has announced that the prices of meters sold to customers under the Meter Asset Provider scheme would be reviewed upward from Feb. 1. Mr Godwin Idemudia, General Manager, Corporate Communications, EKEDC, who made the announcement in a statement on Wednesday, said the review was to reflect the increase in Value Added Tax (VAT)…
Sanwo-Olu inaugurates NNPC/SNEPCo multi-million naira medical equipment at Lagos General Hospital L-R: Manager, Non-Operated Venture Assets, Shell Nigeria Exploration and Production Company (SNEPCo), Yemi Asaolu; Member, Lagos State House of Assembly, Olanrewaju Afinni; Managing Director of SNEPCo, Bayo Ojulari; Lagos State Commissioner for Health, Akin Abayomi; Acting Public Affairs Manager, National Petroleum Investment Management…
The Nigerian Content Development and Monitoring Board (NCDMB) announced on Wednesday that it has partnered Rungas Prime Industries Limited in the establishment of a 400,000 per annum Type 3 LPG Composite Cylinder Manufacturing Plant in Polaku, Bayelsa State. Making the announcement in Yenagoa during a town hall meeting with chiefs and representatives of the Polaku…
Nigeria is facing double jeopardy of falling oil prices and production decline amid fears that coronavirus, which has its roots in China, may keep spreading, ’FEMI ASU writes The Federal Government’s oil revenue projection for 2020 may be badly hit by the coronavirus outbreak in China which has sparked concerns of lower demand growth, causing oil…
The Board of the African Development Bank (www.AfDB.org) on Wednesday approved a $22 million Senior Loan to help Egypt’s Corporate Leasing Company (Corplease) expand its operations in the North African country. The decision signaled confidence in a burgeoning local market and in the Egyptian economy as a whole. “The Bank will mobilize $7 million…
The Board of Directors of Chevron Corporation has declared a quarterly dividend of one dollar and twenty-nine cents($1.29) per share, an increase of ten cents($0.10) per share or 8.4 percent. The dividend is payable March 10, 2020, to all holders of common stock as shown on the transfer records of the Corporation at the close…
