Shell concludes sale of 16 assets worth $500m
Royal Dutch Shell, weekend, confirmed plans to sell over 16 assets each worth more than $500 million. Though the report had no mention of what location or country which its assets is up for sale, but explained that the move…
Chevron unveils Cassava projects with 40 graduates
Leading oil conglomerate, Chevron Nigeria Limited through the Partnership Initiative in the Niger Delta (PIND) has launched Youths Cassava Enterprise Project with 40 graduates to pilot the scheme in Ondo state. The project is in partnership with the states Wealth…
Discos seeks hike from 22.8 per kilowatt-hour to 105kKwh due to inflation
The Chief Executive Officer, Association of Nigerian Electricity Distributors, an umbrella body for the Discos, Mr. Azu Obiaya has explained the latest agitation for tariff increase. In an interview, he stressed that it was important to raise the tariff in…
W/Bank sees $55 per barrel oil price in early 2017
As oil price continues to maintain a steady but slow rise, the World Bank has raised its 2017 forecast for crude oil prices to $55 per barrel from $53 it said last month. The hike in oil price forecast for…
My refinery is 8 times the size of Victoria Island—Dangote
Multipurpose indigenous industrialist, and President of Dangote Group, Aliko Dangote has given more details on the design and development specifications of his petroleum refinery in Lagos. Much more interesting is the geographical size of the refinery, which Dangote puts at…
Militancy, oil theft deflated 12% from Sept oil earnings—FG
The Ministry of Finance yesterday linked declining oil production and export volumes to militancy and large-scale crude theft cut the Nigerian government’s gross revenue in September by about 12% from August to N279.75 billion ($8 billion). The ministry said that…
Ikeja Electric, DRASA boost handwashing campaign in Lagos
Nigeria’s largest distribution company, Ikeja Electric Plc has partnered with Dr. Ameyo Stella Adadevoh (DRASA) Health Trust and Kleanmate to celebrate this year’s Global Hand washing Day with children in selected Secondary Schools located within its network coverage. The event,…
NNPC cuts price of Nigeria’s crude oil grades as bait for buyers
The Nigeria National Petroleum Corporation (NNPC) yesterday cut down the official selling price of Nigeria’s crude oil grades as parts of strategy to make Nigeria crude oil attractive to buyers and to help it regain its share of the global…
Nipco picks lead stake as ExxonMobil exits downstream oil sector
There are apparent indications that the United States-based ExxonMobil has divested its 60 per cent stake in Mobil Oil Nigeria Plc to Nipco Plc, an indigenous Nigerian downstream oil and gas company. With this development, Total remains the only international…
Rising oil price will boost, disrupt economy—Experts
Since oil price started to make a steady upward movement, experts have started to look at the implications. Between Tuesday and yesterday, global oil price hovered at over $50 per barrel mark. Economic and energy experts said the price rally…
