NNPCL’s Afrexim deal an upfront cash loan on crude oil proceeds, but…
The recent announcement by the Nigerian National Petroleum Company Limited (NNPCL) that it had secured a USD3.00 billion emergency crude repayment loan from the African Export-Import (AFREXIM) bank has continued to elicit reactions. According to the NNPCL, this loan agreement…
NCDMB Gives Direction For Sustainable Local Content Practice In Africa
Rising from the discovery and exploration of oil and gas resources across several countries in Africa, the Nigerian Content Development and Monitoring Board (NCDMB) on Wednesday proffered strategies that would enable those nations to institute sustainable Local Content practices, achieve…
Just in: Seplat gives update on Depthwize Majestic rig collapse in Delta State
Leading indigenous player in Nigeria’s upstream oil industry, Seplat Energy hereby provides an update to the previous announcement regarding the incident involving the Majestic rig. Contrary to some media reports, the Majestic rig is owned by Depthwize Nigeria Limited and…
47 Oil Blocks belong to others outside S’South that has only one block—Clark
Prominent South South and Niger Delta Leader, Edwin Clark has alleged that the Northerners, Easterners, and Westerners in Nigeria shared 47 oil blocs among themselves while the South-South only has one oil bloc. He said in an interview with Arise…
Between 1trn saved from subsidy and NNPCL’s $3bn Afrexim Bank loan
Whereas many economic experts have started doubting President Bola Tinubu’s claims that his government has saved close to N1trn from the removal of fuel subsidy as the NNPC left it to borrow from Afrexim Bank, analysts have given insights to…
Imminent Surge of Cyber Security in the Energy Sector, Says SecurityHQ
With a rapid transition towards renewable energy, the Energy sector has an increased reliance on technology. This makes it particularly vulnerable with regards to cyber security, as it depend on interconnected systems and digital technologies that make interactions a breeding…
NCDMB, ACAN team up on Zero-tolerance for Corruption in Workplace
The Nigerian Content Development and Monitoring Board (NCDMB) and the Anti-Corruption Agency of Nigeria (ACAN) recently concluded a three-day sensitisation workshop on “Achieving Zero-tolerance for Corruption in the Workplace,” with staff educated on the types and potential consequences of corruption…
Ibeju Lekki residents hail Dangote Refinery CSR projects
The lead association of monarchs (Baales) and some residents of Ibeju Lekki, Lagos have showered encomium on the Management of Dangote Refinery, on its social responsibility initiatives. They expressed appreciation to the company for providing vital infrastructure for their communities,…
Oil Prices Drop On Concerns Over China’s Economy, but…
Oil prices eased today, Monday as concerns about China’s faltering economic recovery and a stronger dollar weighed against seven weeks of gains on tightening supply from OPEC+ output cuts. Reuters report that Brent crude futures fell 73 cents, or 0.84%,…
A look at History of Fuel Price increment in Nigeria from 1970 to date
6 kobo 1970 Gowon 8 kobo 1973 Yakubu gawon 15 kobo 1978 obasenjo 20 1983 alh. Shehu shagari 39 kobo 1986 IBB 42 kobo 1988 IBB 68 kobo 1990 IBB 70 Kobo 1991 IBB 5 naira 1992 Ernest shonikan 3…
