Ghana National Gas Company (Ghana Gas) is owing Ghana National Petroleum Corporation close to $1Billion, being cost of raw gas it has received from the state hydrocarbon company without paying the latter. Between January and June 2018, Ghana Gas sold processed gas with total invoice value of $160,648,513.18. This amount comprised expected revenue from the…
To tackle its power challenge, the Federal Government is partnering ROSATOM, the Russian government-owned nuclear agency. In a recent interview with The Nation, ROSATOM’s Central and Southern Africa Chief Executive Officer Dmitry Shornikov said Nigeria is serious and on course to utilize nuclear energy as part of its energy mix in the near future. When asked…
THE Securities and Exchange Commission said on Monday that it had directed Oando Plc to suspend its Annual General Meeting slated for Tuesday (tomorrow). The apex capital market regulator made the announcement in a statement. The statement read, “The Securities and Exchange Commission hereby notifies the public that further to the ex-parte order of the…
DAKUKU Peterside, the Director General of the Nigerian Maritime Administration and Safety Agency, NIMASA, has declared Nigeria’s unwavering commitment to its leadership role in the war on piracy and maritime crimes in the Gulf of Guinea region, an area widely considered the global challenging maritime crime base in Africa. Dakuku made the declaration in a…
Residents of Pearl Garden Estate and Pearl Nuga Park Estate located at Sangotedo Village in Eti-Osa Local Government Area of Lagos State have dragged Mr Kelchi Mbagwu and his CMB Building Maintenance and Investment Company Limited to the Economic and Financial Crimes Commission (EFCC) over alleged fraudulent mortgage of some of their homes to secure…
Lagos — This week trading on the floor of Nigerian Stock Exchange, NSE for energy companies ended on a negative note as Total, Double One, Japaul Petroleum, and Capital Oil topped the losers’ chart. Total opened trading with N162, traded 37 deals 67,882 volumes valued at 10,170,968.90. Double One also opened trading with N175 in 19 trade…
The Nigerian Gas Marketing Company, NGMC, a subsidiary of the Nigerian National Petroleum Corporation, NNPC, posted a profit of N12.476 billion for the year ended, 31 December 2018. In a statement issued after the Annual General Meeting of the NGMC in Abuja, the NNPC described the company’s performance as impressive, considering the challenges it faced in…
Lagos — Two non-executive directors of Oando Plc have resigned their appointment with the embattled energy company. According to a notice to the Nigerian Stock Exchange, NSE on Friday, seen by SweetcrudeReports, the affected directors include; Chief Sena Anthony and Mr. Oghogho Akpata. The memo signed by the company’s Company Secretary, Ayotola Jagun, and Head, Corporate Communications, Alero Balogun,…
Lagos — Schneider Electricsaid it has launched a new range of products for its Nigerian market to address power-related challenges and the need for premium protection and innovative offers from high-end users to low-income earners. The newly launched products include a range of affordable UPS from APC by Schneider Electric, with the brand’s guaranteed quality. In…
Port Harcourt — The Society of Petroleum Engineers, SPE, has explained how Artificial Lift Technology enhances oil production, saying that the technique is all about the recoverability of crude oil in a reservoir, to maintain and maximize production. Artificial Lift is the process of aiding the production of an oil or gas well, by either lightening…