Lagos — Nigeria’s Minister of States for Petroleum Resources, Dr. Ibe Kachikwu, has discussed investment in Nigeria’s oil and gas sector in talks with Saudi officials. The Ministry of Petroleum Resources said in a tweet on Wednesday that Kachikwu, who is currently on an official visit to Saudi Arabia, is there to discuss “areas of shared…
Abuja — Integrated Data Services Limited, IDSL, the geological and geophysical subsidiary of the Nigerian National Petroleum Corporation, NNPC, yesterday, said it is aggressively boosting its seismic data acquisition technologies and capacities to handle 90 percent of all seismic exploration projects in the country. In a statement by the NNPC in Abuja, the IDSL said the decision…
London — Nigerian oil company Seplat said on Wednesday it had taken a final investment decision to develop gas fields in the country’s Imo state and would raise $700 million for the venture in partnership with state-owned NNPC. Seplat Chairman and co-founder A.B.C. Orjiako told Reuters during a visit to London a decision had been taken…
Abuja — The Nigerian National Petroleum Corporation, NNPC, Nigeria Customs Service, NCS, and the Department of Petroleum Resources, DPR, Tuesday, entered into an agreement to inaugurate a Joint Committee to tackle the growing incidents of petroleum products smuggling across the nation’s border towns. In a statement in Abuja, the NNPC said the strategic move to tame the malaise was…
Lagos — Wednesday’s trading at the Nigerian Stock Exchange for energy companies saw Seplat Petroleum leading the losers category with -25k in 19 trade deals. Other losers of the day are Double One with 4.9k loss, Conoil (2.2k)and Oando (0.3k). Top Gainers Eterna: 0.35k Japaul: 0.02k Top Losers Seplat: -25k Double One: -4.9k Conoil: -2.2k
Lagos — Former Minister of Justice and Attorney General of the Federation, Mr. Mohammed Adoke, has written to a Federal Capital Territory High Court in Jabi to drop the warrant of arrest against him. The court had ordered Adoke’s arrest following his failure, alongside four others, to appear in court for their arraignment in the fraudulent…
At the just concluded IDC CIO Summit 2019 which held in Lagos today, Schneider Electric demonstrated the importance of digitized power monitoring in commercial and industrial buildings to enhance energy efficiency and power reliability. Considering the inadequate power infrastructure and the resultant frequent blackouts experienced across the nation, Schneider Electric made a presentation at…
Lagos — Ikeja Electric Plc, IE, has assured customers across its network of hitch-free services during the Easter holiday while wishing them a safe and enjoyable celebration. The company’s Head of Corporate Communications, Felix Ofulue, who disclosed this, also urged customers to take advantage of the company’s numerous channels for payment of electricity bills to avoid disconnection…
London/Sydney/Seoul/New York/Tokyo — Oil futures edged up on Thursday as a drop in crude exports from OPEC’s de facto leader, Saudi Arabia, and a draw in U.S. drilling rigs and oil inventories supported prices. Brent crude futures settled at $71.97 a barrel, up 35 cents from their last close and near Wednesday’s five-month high of $72.27. Brent saw…
*The announcement comes a day after a meeting of the Bank’s governors in Washington D.C. to continue discussions on a 7th General Capital Increase Washington D.C., United States of America — On the sidelines of the World Bank-IMF Spring meetings, Canada announced a $1.1 billion commitment in temporary callable capital to support the African Development Bank….