Thailand’s state oil company PTT has bought one cargo of Nigerian Agbami crude on behalf of Thai refiner IRPC via a tender awarded last week, two trade sources said on Wednesday The cargo was bought at a premium of around $3 a barrel to dated Brent on a delivered-ex-ship (DES) basis, said one of the…
The President of the Dangote Group, Aliko Dangote, says erratic power supply is killing Nigeria’s industries and the economy, adding that the availability of consumer credit facility is an important option in fighting corruption in the country. Mr. Dangote said this in Lagos at a consultative roundtable titled, “Going for Growth” with some economic stakeholders….
The Nigerian Content Development and Monitoring Board (NCDMB) on Tuesday in Yenagoa, Bayelsa State signed eight contracts for the development of ongoing Nigerian Oil and Gas Park Scheme (NOGAPS) projects in Bayelsa, Cross River and Akwa Ibom states. The beneficiary companies include O.K. Isokariari & Sons, Megastar, EST Masters, Altex, Faithplant, Erdis, and Linzo. Two…
The Department of Petroleum Resources (DPR) on Monday lifted the sanctions melted on a downstream marketing company, Petrocam Trading Nig. Ltd., for violating the agency’s rules and regulations. Mr Ahmed Shakur, the acting Director of DPR told newsmen in Lagos that the company committed an infraction against the agency in one of its gas plants…
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…