Beijing — China will tighten approvals of steel capacity swapping between companies and ban all new steel capacity in any form, the country’s economic planner said on Thursday, in order to streamline the sector. The announcement follows illegal capacity expansions approved by local governments under the cover of capacity swaps, where companies move capacity between different…
Chevron Corp has said Thursday it will not increase its offer to buy U.S. Anadarko Petroleum after Occidental Petroleum gave a better offer. The means Chevron will collect a $1 billion breakup fee, a windfall that it could use to purchase another driller in the Permian Basin, the engine of the American oil drilling boom,…
Abuja — Nigeria’s central bank governor Godwin Emefiele has been nominated for a second five-year term, a move that could comfort bondholders keen to see the bank’s policy of a stable and strong currency continue. President Muhammadu Buhari, who has backed Emefiele’s monetary policy, nominated him for another term, according to a letter read on the…
Paris — It took Total’s chief executive and a small group of advisers just days to line up the French energy major’s biggest acquisition in almost two decades when it agreed to buy the African assets of U.S. firm Anadarko. Patrick Pouyanne pounced after Occidental Corp trumped Chevron’s $33 billion bid for Anadarko in April with…
Nigeria’s court case alleging that international oil companies exported 57 million barrels of crude to the United States illegally has been dismissed for want of evidence A NIGERIAN court on Wednesday dismissed government claims that subsidiaries of Eni and Petrobras illegally exported crude oil to the United States. A judge at the Federal…
Group Managing Director of the Nigerian National [Petroleum Corporation (NNPC), Dr. Maikanti Baru, declaring open the control room of the NNPC Towers Electronic Gate Access and Visitors Management System; flanked to the left by Mallam Isa Inuwa, Chief Operating Officer, Corporate Services and to the right by Sam Otoboeze, General Manager, Group Security Department and…
Global liquefied natural gas market is set to see sharp shifts between excess supply and excess demand during the 2019 to 2023 period. RECENT years have seen rapid growth in the global market for LNG, with volumes of exports and imports up 10 percent in 2018 alone. This expansion is set to continue apace…
The Petroleum Technology Association of Nigeria gives Maikanti Baru outstanding lifetime achievement award MAIKANTI Baru, group managing director of the Nigerian National Petroleum Corporation, NNPC, has been conferred with the 2019 Petroleum Technology Association of Nigeria, PETAN, Outstanding Lifetime Achievement Award in recognition of his leadership and contributions to the development of the local content in…
PETAN AWARDS @OTC 2019 Group Managing Director, NNPC, Dr Maikanti Baru receives PETAN’s Lifetime achievement award at #OTC2019 The Chief Operating Officer (COO), Upstream, Engr. Bello Rabiu, receiving the Award on behalf of Dr Baru
… Advises Nigerian Companies to Embrace Technology By Margaret Nongo-Okojokwu, in Houston Texas The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has reiterated the commitment of the corporation to reduce the cost of crude oil production in the nation’s Oil and Gas Industry to ensure economic…