The minister of state for Petroleum Resources, Dr. Emmanuel Kachikwu and Saudi Arabian Energy Minister Khalid al-Falih have concluded plans to meet over instability in the international market as oil price drops to $60 per barre. Investigation by The Daily showed that the crucial engagement will take place in Abuja, Nigeria, tomorrow, November 28, 2018….
Africa Finance Corporation (“AFC” or “the Corporation”), the leading infrastructure development finance institution in Africa, is pleased to announce it is to invest in the Nachtigal Hydro Power Company (“NHPC”), located 65KM north of Yaounde in Cameroon. The EUR 1.2 billion power generation project will consist of a 420MW hydro-electric power station as well as…
Shell Nigeria Exploration and Production Company (SNEPCO) says court judgment on 3.6 billion dollars fine for the Dec. 20, 2011 oil spill in parts of Niger Delta is not binding. Shell, operator of the Bonga oil field where the spill occurred, had approached the courts to challenge the powers of National Oil Spills Detection and…
Saudi Aramco’s gas expansion strategy needs 150 billion dollars worth of investments over the next decade as the company plans to increase output and become an exporter, its chief executive said on Tuesday. Aramco is pushing ahead with its conventional and unconventional gas exploration and production programme to feed its fast growing industries, freeing up…
In December 2017, the Chief Executive of Samsung Heavy Industries, SHI, Park Dae-young resigned from the world third largest shipbuilder. Dae-young threw in the towel following financial losses that cost the company about a third of its market capitalization. The CEO appeared left with no choice as SHI under his watch according to Financial Times,…
Mr Emeka Okwuosa, the Chief Execultive Officer, Oilserve Nig. Ltd., would on Nov. 29 deliver a lecture on impact of infrastructure development in Nigeria. This was contained in a statement issues by Dr Ngozi Anyaegbu, the company’s media consultant, which was made available to newsmen in Lagos. According to the statement, Okwuosa who is the…
US vs OPEC With Saudi as the umpire Mohammed bin Salman Late in September, when oil price hit a 4-year high, President Donald Trump called on OPEC to do something about it, he was rebuffed. Trump isn’t a stranger to the politics around trade wars; China and Europe, among others can testify to that. America’s…
That Nigeria has one of the highest number of children without access to education with about 13.2 million out-of-school children is no longer news. The statistics are staggering and hard to deny given the number of children hawking or begging on the streets everyday. Last month, an official of the United Nations Children Fund (UNICEF)…
Literacy in Nigeria at 59.6% (CIA World Fact book) is one of the lowest in West Africa and sub-Saharan Africa, with huge variations between states, regions and gender. According to the United Nations International Children’s Emergency Fund (UNICEF) Nigeria has the highest number of children without access to education with about 10.5 million children affected….
The Shell Petroleum Development Company of Nigeria Limited (SPDC) says out of the over N41billion disbursed for community projects in Niger Delta, about N15billion went to Rivers State under the Global Memorandum of Understanding. “Between 2006 and end of 2017, a total of N14.86 billion has been invested by the SPDC Joint Venture in the…