Shell Petroleum Development Company of Nigeria (SPDC) and partners have remitted about two billion U.S. Dollars (about N720 billion) to the Niger Delta Development Commission (NDDC) in 16 years, an official said. SPDC’s General Manager, External Relations, Igo Weli, disclosed this on Tuesday at the final of 2019 SPDC-JV Environment Awareness Quiz Competition for Land…
Mr Timipre Sylva, the Minister of State for Petroleum Resources says the ministry will partner with the Infrastructure Concession Regulatory Commission (ICRC) to develop the oil sector through Public Private Partnerships (PPPs). Sylva said this on Tuesday in Abuja when he received the Director-General and management staff of ICRC on a courtesy visit. According to him,…
Electricity Generation Companies (GenCos), comprising gas-fired and hydro stations said that they could not generate 1,635.5 megawatts of electricity due to unavailability of gas. This is contained in a daily energy report by the Advisory Power Team, office of the Vice President, a copy of which was obtained in Abuja on Tuesday. The report also noted that…
The New York and Tel Aviv based startup Dynamic Infrastructure is implementing the world’s first deep-learning solution which allows bridge and tunnel owners and operators to obtain visual diagnosis of the assets they manage. The system provides live, cloud-based, 3D views of the bridge or tunnel and automatically alerts when changes are detected in maintenance and operation conditions –…
Ghana’s oil and gas industry continues to attract key global industry players on the back of sustained investor interest LONDON, United Kingdom, October 16, 2019/ — When you think of the top oil and gas nations in Africa, Ghana is not one that traditionally comes to mind, but it is one of the rising…
Nigeria’s Seplat Petroleum has reached an agreement to acquire Aberdeenshire-headquartered Eland Oil and Gas for more than £380 million. Eland said the all-cash £383mn deal has been recommended by the firm’s board and is supported by its three largest shareholders. The statement said Seplat had also secured backing for its offer from major shareholders in…
Mrs Margaret Onyema-Orakwusi, Chairman, Ship Owners Association of Nigeria (SOAN) says curtailing poaching in Nigeria and the African Continent will require international collaboration. Onyema-Orakwusi said this in an interview on Monday in Abuja. According to her, the international community has the market and capability to effectively monitor all activities that take place in the waterways….
Oil prices eased on Monday as scant details on the first phase of a trade deal between the United States and China undercut last week’s optimism over a U.S.-Sino thaw that helped to lift crude markets by 2 per cent at the end of last week. Brent crude futures LCOc1 fell by 69 cents to…
The National body of the Petroleum Tanker Drivers Association, an arm of the National Union of Petroleum and Natural Gas Workers (NUPENG) on Tuesday in Lagos commenced training of about 2,500 tanker drivers to reduce road accidents. Mr Akanni Oladiti, the National Chairman of Petroleum Tanker Drivers branch of NUPENG said the training which was…
A communications firm, Interstella Communications Ltd., has told the Central Bank of Nigeria (CBN) to obey a Supreme Court order by paying them $285 million judgment sum for alleged breach of contract. The Supreme Court of Nigeria had in a judgment delivered on Dec. 15, 2017 in Appeal No. SC 500/2014 ordered that $285 million…
