The Federal Government in Abuja signed a Memorandum of Understanding (MoU) with nine oil companies for the supply of gas for power…
Category:
Oil and Gas
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EconomyFinanceNewsOil and Gas
Nigerian banks raised $3bn acquisition finance for power industry privatisation
The Managing Director of Stanbic IBTC, Mrs Sola David-Borha, said that some Nigerian banks had raised three billion dollars (N465 billion) as…
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The Central Bank of Nigeria, CBN has offset the N36.9 billon legacy debt owed to gas suppliers by the power sector under…
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BusinessEconomyFinanceNewsOil and Gas
FG introduces austerity measures, review oil benchmark to $73 per barrel
The Minister of Finance, Dr Ngozi Okonjo-Iweala, says the Federal Government has proposed a review of the oil benchmark from 77.5 dollars…
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Two Nigeria entrepreneurs, Alhaji Aliko Dangote, President Dangote Group and Mr. Tony O. Elumelu, Chairman, Heirs Holdings, have lent their voices to…
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With the incorporation of ARCO Group Plc Arco Petrochemical Engineering Company will now formally cease to exist. The newly incorporated Arco Maintenance…
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The Federal Government has said that it would explore other sectors, including agriculture and tax, to mitigate the impact of drop in…
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BusinessEconomyNewsOil and Gas
OPEC’s Badri sees little output change in 2015, says don’t panic on oil drop
OPEC’s oil production is unlikely to change much in 2015 and there is no need to panic at the crude price drop,…
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Global Business Resources, U.S.A, a consortium of international investors are in Nigeria for a follow-up discussion with the officials of Government for…
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— Power sector owes three banks $1.085bn Federal government plan to pay off the over N200 billion gas supply debt owed by…
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International oil companies IOC, operating in Nigeria are frustrating government efforts at achieving local content in the oil and gas industry. Manipulations…
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BusinessEconomyNewsOil and Gas
FG takes delivery of abandoned 248 containers of power equipment in Lagos
Prof. Chinedu Nebo, Minister of Power took delivery of abandoned energy equipment in 248 containers from the Nigerian Customs Services at Apapa,…
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The Minister of Power, Prof. Chinedu Nebo, said the Federal Government had concluded plans to explore ways of implementing the Indian power…
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BusinessEconomyFinanceNewsOil and Gas
Shell offers 30 pound sterling to settle 2011 Nigeria oil spills
Royal Dutch Shell is ready to pay up to 30 million pounds ($51 million) in compensation for two oil spills in Nigeria…
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oil importers say Ghana’s government quietly reintroduced fuel subsidies in April, and has spent about $85 million since then in extra payments,…