Oil prices rose on Friday and were on track for a weekly increase as geopolitical tensions over Iran remained unresolved, although flagging prospects for global economic growth amid the U.S.-China trade war capped gains. Brent crude futures were up 23 cents at $63.62 per barrelequivalent to a weekly rise of around 1.8 per cent.They fell…
Chief Executive Officer, General Electric Africa, Farid Fezoua, has said the localisation of innovation will boost technology advancement in Nigeria and Africa at large. Fezoua made this known on Thursday evening during the celebration of the company’s 120 years of operation in Africa.He said that technology advancement would lead to the development of the continent,…
The Nigerian Electricity Management Services Agency (NEMSA), has warned consumers on the consequences of installing substandard and uncertified electricity meters to avoid loss of lives and property. Mr Peter Ewesor, the Managing Director of NEMSA gave the warning at a news conference in Abuja on Thursday “To avoid these dangers and unwarranted bad consequences of…
As part of efforts to grow local refining capacity, the Nigerian National Petroleum Corporation (NNPC) has called for collaboration with Chevron Nigeria Limited to establish a condensate splinter refinery. The appeal was made Thursday by the Group Managing Director of NNPC, Mallam Mele Kyari, when the management of Chevron Nigeria Limited (CNL) was led by…
Nigeria’s state oil corp, the Nigerian National Petroleum Corporation (NNPC), said Monday that it has secured $3.15 billion in financing to boost crude oil reserves and daily oil production to 3 million barrels per day, in a signed agreement between Sterling Oil Exploration and Energy Production Company Limited (SEEPCO) and the exploration and production arm…
The Nigerian National Petroleum Corporation (NNPC) Sunday announced a trading surplus of N6.33 billon for the month of May 2019, a figure which is 13 per cent higher than the N5.60 billion surplus posted in the preceding month of April 2019. According to the May 2019 edition of the NNPC Monthly Financial and Operations Report…
The first cargo of liquified natural gas under the long-term contract between PGNiG and US LNG provider Cheniere Energy arrived today at the President Lech Kaczyński LNG Terminal in Świnoujście. The long-term contract, which was signed in November of 2018, will total approximately 39 bcm of natural gas over the 24 year period of the agreement. …
The Nigerian National Petroleum Corporation is set to leverage on the existing Direct-Sales-Direct-Purchase product supply arrangement to guarantee energy security for the nation. The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC) Mallam Mele Kyari, made this commitment Wednesday at his maiden townhall meeting with staff of the corporation at the NNPC Towers,…
An Information and Communications (ICT) expert, Mrs Mary Uduma, on Wednesday says Nigeria is ready for digital transformation in terms of infrastructure. Uduma made this known in an interview in Lagos. She said that the broadband the country was developing now would help the digital transformation. According to her, with the available infrastructure and youths’…
The Nigerian Communications Commission (NCC) says it will subsidise the fund for deployment of 318 Base Transceiver Stations (BTS) in unserved and underserved locations in the country in 2019. The Executive Vice Chairman, Prof. Umar Danbatta, made this known on Thursday in Lagos, during the Nigeria ICT Impact CEO Forum (NIICF). The forum, organised by…
