Business news
Amaka Obiefuna Seplat Petroluem Development Company Plc’s gas business exceeded $100 million revenue milestone projection for the year 2016 despite various challenges in the sector. At the firm’s 4th Annual General Meeting (AGM) on Thursday in Lagos, Chief Executive Officer, Austin Avuru explained that while force majeure at the forcados terminal has “materially affected our […]
Dr Maikanti Baru, the Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), on Sunday, pledged to support any legislative process to end gas flaring. Baru made the pledge in Abuja in a statement by Mr Ndu Ughamadu, Group General Manager, Group Public Affairs Division NNPC. The Department of Petroleum Resources (DPR) had said […]
The Transmission Company of Nigeria (TCN), says the deployment of Free Governor Control mechanisms by Power Generation Companies (GenCos) in their power plants has resulted in an improved national grid stability and reliability. The Interim Managing Director of the TCN, Mr Usman Mohammed, said this in Abuja. Mohammed explained free governor mechanism as a device […]
The Emir of Kano, Alhaji Muhammadu Sanusi II has called on both the Federal and State Governments to encourage private entrepreneurs to invest in the power sector. He made the call while delivering a keynote address at a two-day conference in commemoration of the 50th anniversary of the creation of Kano state. The conference is […]
The Nigerian National Petroleum Corporation (NNPC) says it will resume oil prospecting in the Lake Chad Basin of Borno. The Group Managing Director of NNPC, Dr Maikanti Baru, disclosed this when he visited Gov. Kashim Shettima at the Government House in Maiduguri, Borno state. Baru was represented at the occasion by the NNPC Chief Operations Officer, who […]
Saudi Arabia and Russia have agreed to extend oil output cuts until March 2018. This would help stem global crude glut and continue a rise in oil prices. This announcement followed an earlier meeting ahead of the Organisation of the Petroleum Exporting Countries (OPEC) next official meeting on May 25. The statement’s strong wording surprised […]
Fidelia Okafor. Acting President Yemi Osinbajo said on Thursday that the Federal Government would ensure justice, equity and even development of the oil producing states in the country. Osinbajo gave the assurance in Uyo when he visited members of the Akwa Ibom Traditional Rulers’ Council as part of his consultation with stakeholders in the Niger […]
Fidelia Okafor. Local refinery operators and some stakeholders in Bayelsa Sothern Nigeria on Sunday commended the proposed liberalisation of modular refineries by the Federal Government to drive development in the Niger Delta region. Acting President, Prof Yemi Osibanjo, had during his last tour of oil communities announced that the Government would establish modular refineries in […]
Fidelia Okafor. The Federal Government says it will ensure the completion of on-going power projects designed to improve electricity generation, transmission and distribution in the country in no distant time. The Minster of Power, Works and Housing, Mr Babatunde Fashola, announced the government’s position while inaugurating the new National Commissioners for the Nigerian Electricity Regulatory […]
Winifred Bosa. The head, Benin Electricity Distribution Company, BEDC, Mr. Ernest Edgar has identified the vandalization of pipelines, electricity cables, non-payment of bills consumed by consumers, as well as the violence in Delta State as the causes off constant blackout in Nigeria. Edgar made the assertion during a “one day Customers’ Forum held in Warri, […]