Nigeria’s oil and gas major, Techno Oil Ltd. has unveiled its TechnoGas LPG cylinders at the 31st World LPG Forum rounding off at Houston, Texas in the U.S. The unveiling of the cylinders formally makes Nigeria to join the big league of nations manufacturing LPG cylinders for export. No fewer than 1,500 participants drawn from…
Crude futures steadied on Friday after climbing to four-year highs earlier this week, and both Brent and U.S. crude marked weekly gains ahead of U.S. sanctions on Iranian oil exports. U.S. West Texas Intermediate (WTI) crude Futures rose 1 cent to settle at $74.34 a barrel. Global benchmark Brent crude futures for December delivery fell…
The Lagos Deep Offshore Logistics, LADOL, has accused its technical partner, Samsung Heavy Industries, SHI, of failure to transfer technology to Nigeria in the execution of the $3.1 billion Engina Total Floating, Production, Storage and Offloading, FPSO, vessel. The Egina FPSO project is managed by Total Upstream Nigeria Limited. Other contractual crime said to have been committed…
Port Harcourt — The Federal High Court in Port Harcourt has granted ex parte motion to the Ogoni Youth Federation, to summon the Coordinator of HYPREP, Dr. Marvin Dekil, before it over the management and administration of $10million initial grant released to the agency for Ogoni cleanup. The OYF had gone to court requesting an order…
A total growth of 12.2% in length is expected in the global oil and gas trunk pipelines industry by 2022, according to GlobalData, a leading data, and analytics company. The company’s latest report, ‘H2 2018 Global Length and Capital Expenditure Outlook for Oil and Gas Pipelines – US Leads with Highest New-Build Pipeline Length Additions’, reveals…
The Nigerian National Petroleum Corporation (NNPC), Thursday, said its crude oil and gas sales rose by 35.78 percent to $416.07 million in the month of June 2018. The NNPC, in a statement on its Monthly Financial and Operations Report for June 2018, added that crude oil export sales contributed $274.95 million which translated to 66.08 percent of…
India is cutting prices of gasoline and diesel by 2.50 rupees ($0.03) a litre, Finance Minister Arun Jaitley said on Thursday, the government’s latest step to tackle the impact of a sharp rise in crude oil prices and a weak local currency. The cut includes a reduction in excise duty of 1.50 rupees per litre,…
Saudi Arabia’s Aramco has agreed in principle to invest in a new oil refinery in Pakistan’s Chinese-funded, deepwater port of Gwadar, the Pakistani petroleum minister said on Thursday. But a Saudi delegation visit ended with no economic lifeline for the South Asian nation’s looming foreign currency crisis. Petroleum Minister Ghulam Sarwar Khan said talks…
Ife Ogunfuwa GoDo.ng, a new start-up community in Lagos, has pledged to help aspiring entrepreneurs to leverage technology to start and scale up their businesses. Speaking on the concept of the innovation hub, the co-Founder, GoDo.ng, Chukwuemeka Agbata, said it was established to inspire start-ups to grow and develop their capacities. Agbata said in the…
Ife Ogunfuwa Nigeria has been ranked 108th in mobile Internet download speed out of 129 countries, the latest data from the Ookla’s Speedtest Global Index has shown. This position, which is for August 2018, is down by one place from the nation’s 107th position recorded in July, according to the index that compares Internet speed…