10 years after, Fashola unveils 330KVA power switch station in Akwa Ibom
It was fanfare and relief as the Minister of Power, Works and Housing, Mr. Babatunde Fashola, inaugurated a 330KV power switching station in Ikot Ekpene in Akwa Ibom. The minister, at Ikot Inyang village in Ikot Ekpene Local Government Area…
OGFZA needs FG’s support to grow Oil & Gas free zones—MD
The Managing Director of Oil and Gas Free Zones Authority (OGFZA), Mr. Umana Okon Umana has called on the federal government to support the authority in repositioning the oil and gas free zones in its development efforts to diversify the…
2017 budget coming to stimulating private sector investment
The Minister of Budget and National Planning Senator Udoma Udo doma has given more insights on the focus of the emerging 2017 national budget currently in the work in his ministry. Key targets of the budget will be to stimulate…
FG, Shell, Access Bank, First Bank, others seal fresh $2.2b oil deal
Shell has collaborated with the Nigerian National Petroleum Corporation (NNPC) to seal a $2.2b Memoranda of Understanding with eight Nigerian banks under the refreshed Shell Contractors’ Support Fund. The arrangement is coming as part of measures to facilitate access to…
Minister hints of emerging oil deals between FG, IOCs soon
Minister of Industry, Trade and Investment, Dr Okechukwu Enelamah, has revealed that the end of joint venture funding of oil activities is set to yield new level of public-private-partnership in the sector. According to him, federal government and select international…
Petroleum Zion sues minister’s firm for $249m over breach of contract
Major player in the nation’s upstream oil activities, Petroleum Zion Exploration and Production Limited has dragged a company co-founded by Nigeria’s Minister of Trade, Industry and Investment, Mr. Okechukwu Enelamah, African Capital Alliance Ltd (“ACA”) to court over alleged breach…
Gas investors may shut down if payments continue in naira—Operators
There are indications that gas prices may go up very soon or investors in the sub sector may close shops. This is based on the fact that gas users chose to pay for services in naira which is currently at…
NDRPP set to tackle oil vandals in N/Delta creeks
National Coordinator of the Niger Delta Riverine Protection Programme (NDRPP), Mr. Tikari Danjuma, has assured that a drastic reduction in all forms of violence will soon be the order in Nigeri Delta as he assumes duties. A statement from the…
Oil set for first weekly gain over hopes of renewed cuts
Brent crude oil prices are heading for their first weekly gain in five buoyed by renewed hopes that OPEC may agree to production cuts, but a stronger United States dollar caps gains. The resurgence of increased oil prices will help…
Confusing FG’s statements on status of refineries worry Nigerians
A cross-session of Nigerians is beginning to nurse fears over the seeming contradictions in government’s position on the fate of all four national refineries. In an interview, a petroleum engineer and commentator on industry issues, Mr. Bala Zaka, said “The…
