Seplat Petroleum Development Company Plc (“Seplat” or the “Company”), a leading Nigerian indigenous oil and gas company listed on both the Nigerian Stock Exchange (NSE) and London Stock Exchange (LSE), has recorded a rise of 15 per cent in its half-year profit before deferred tax. In its unaudited consolidated half-yearly financial results for the period…
The Abuja Electricity Distribution Company (AEDC) says that meters installation now depends on customers payment. Meters would be installed for any customers as soon as they make payment for them, Mr Oyebode Fadipe, AEDC’s General Manager, Corporate Communications said. In an interview in Abuja on Sunday, he said that it is only customers who paid…
The Nigerian National Petroleum Corporation (NNPC) has raised the red flag on the violation of its pipeline right-of-way by some individuals and communities along the corridor of the system 2E pipeline network. The Corporation gave the warning in a statement by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs division, in Abuja on Sunday….
Chinese oil firm, China National Offshore Oil Corporation (CNOOC), aims to take a stake in an oil pipeline being developed to export Ugandan crude, the firm said on Friday. AminahBukenya, the spokeswoman for the firm’s Ugandan unit, told Reuters that CNOOC would participate in the EACOP project. Bukenya said the level of firm’s equity stake…
The Warrior Zonal Office of Department of Petroleum Resources (DPR) has sealed two petrol stations in Asaba in continuation of its routine surveillance exercise. The stations were sealed on Friday over offences bordering on under-dispensing and operating without valid licenses. The affected stations are Alpha Bykeez Limited and Dwell Pet, both situated along the Okpanaun…
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…