Henceforth, defaulters of the local content law in the nation’s oil and gas industry are to lose five per cent on total contract sum, Executive Secretary, Nigerian Content Development and Monitoring Board, Engr. Simbi Wabote, has warned. Wabote, announced the disincentive to erring oil and gas firms during the Dangote Petroleum Refinery and Petrochemical Free…
The Department of Petroleum Resources (DPR) in Cross River State has shut down three fuel stations in Odukpani local government area for selling petrol at N150 per litre against the government approved price of N145 per litre. DPR Operations Controller in Cross River, Mr Bassey Nkanga, who led his team on a surveillance of fuel…
Three oil-producing states of the Niger Delta on Wednesday, got a landmark judgment at the Supreme Court of Nigeria that would substantially boost their revenue from oil production with effect from the date of the judgement. The verdict was handed down by the Supreme Court yesterday. The three states: Rivers, Bayelsa and Akwa-Ibom, had approached…
With Nigeria being Norway’s largest trade partner on the African continent, and with the trade volume between both countries standing at $30 billion, both economies have stressed the need to strengthen the bilateral ties even further. The Norwegian Ambassador to Nigeria, Jens-Petter Kjemprud, explained that there is a lot both countries can do together, pointing…
The MD REA was in Lagos on Wednesday 17th October, 2018 for Pre-Commissioning inspection of Sura Shopping Complex IPP. The Sura IPP commissioning is to be performed very soon by HE VP Yemi Osinbajo SAN as part of FGN EEI targeted at MSMEs. Sura Shopping Complex IPP is part of Energizing Economy initiative (EEI) of…
Leading professional services firm, PwC Nigeria, has restated its commitment to supporting the growth of the Nigerian mining sector in line with the country’s overall economic diversification efforts. The firm’s country Senior Partner Uyi Akpata gave the assurance in his opening remarks at the third edition of the Nigeria Mining Week in Abuja. Akpata, who…
Chikezie Nwosu, the director technical at Addax Petroleum, talks to TOGY about project costs in the lower oil price environment, the outlook for Nigeria’s oil and gas industry and encouraging gas production in the country. Addax operates OMLs 123, 124, 126 and 137 with 100% stakes as well as holding a 12% share in the…
Nigeria needs over one million poles for proper connection of electricity in the country, Dele Arigbede, the chairman of Reinforced Pole Producers Association of Nigeria (RPPAN) has said. Arigbede, who disclosed this in Lagos, said his association is in partnership talks with the federal government in order to ensure the connectivity. He decried the lack…
The Ebonyi State Government has formally signed an agreement with a Chinese company, Fonshan Sunchees Technology Company Limited, on the establishment of a solar power factory in the State. Also signed was a sales agreement on supply of $4 million worth of Solar Systems produced in Ebonyi State. Performing the functions on Monday at the…
Investors are shying away from the proposed $3billion refineries project of the Independent Petroleum Marketers Association of Nigeria (IPMAN) over leadership crises in the union, IPMAN’s Chairman, South-West, Alhaji Debo Ahmed, has said. He also said IPMAN is awaiting the judgment of the Supreme Court on the issue in December, this year, adding that the…