Category: Energy

Firm Pays N19b For Yola Electricity, To Invest N28b In Two Years
July 20, 2021 No Responses

Firm Pays N19b For Yola Electricity, To Invest N28b In Two Years

Quest Electricity Nigeria Limited has paid N19 billion to acquire Yola Electricity Distribution Company (YEDC), the Bureau of Public Enterprise (BPE) has said.  Mr Alex Okoh, the Director-General of the Bureau of Public Enterprises (BPE), said this in a statement...
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Oando Enters Into Settlement With SEC
July 19, 2021 No Responses

Oando Enters Into Settlement With SEC

Oando Plc has entered into a settlement with the Securities and Exchange Commission in the overriding interest of the shareholders of the Company and the capital market.  This was contained in a Circular released by the SEC in Abuja Monday and...
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Oil Producing Nations Seal Deal To Control Prices
July 19, 2021 No Responses

Oil Producing Nations Seal Deal To Control Prices

Oil producing nations have agreed to increase their output, with the aim of reducing prices and easing pressure on the world economy.  Under the arrangement, the Opec cartel and partners such as Russia will boost supply from August after prices...
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Shell Seals New NLNG Charter Agreements
July 15, 2021 No Responses

Shell Seals New NLNG Charter Agreements

Shell Tankers (Singapore) has inked new charter agreements with Knutsen LNG, Pan Ocean and investors advised by J.P. Morgan Asset Management for six Liquified Natural Gas (LNG) ships, bringing its LNG carrier fleet to a total of 24 vessels.  Sla...
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NLNG Appoints Philip Mshelbila New CEO
July 10, 2021 No Responses

NLNG Appoints Philip Mshelbila New CEO

The Board of Directors, Nigeria LNG Limited (NLNG) has approved the appointment of Dr. Philip Mshelbila as successor to Engr. Tony Attah, Managing Director and Chief Executive Officer.   A statement issued by General Manager,External Relations and Su...
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Profile Of NLNG New CEO, Philip Mshelbila
July 10, 2021 No Responses

Profile Of NLNG New CEO, Philip Mshelbila

The Board of Directors, Nigeria LNG Limited (NLNG) on Friday, July 9, 2021 announced the appointment of Dr. Philip Mshelbila as successor to Engr. Tony Attah, Managing Director and Chief Executive Officer.    Dr. Philip Mshelbila will resum...
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Crude Oil Rises Further
July 7, 2021 No Responses

Crude Oil Rises Further

Oil prices rose slightly on Tuesday after the previous day’s rally, supported by expectations of a tighter market as output talks of OPEC+ nations were called off, but concerns that members may start to increase production capped gains.According to ...
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TotalEnergies Explains $60b Investments In Nigeria
July 6, 2021 No Responses

TotalEnergies Explains $60b Investments In Nigeria

Deputy Managing Director, Deep water District. TotalEnergies, Mr Victor Bamidele, on Monday said the company has invested over$60 billion in exploration and other projects in Nigeria.    Speaking at the Ongoing Nigeria Oil and Gas (NOG) Conferen...
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Kano, NNPC, GACN Seal MoU On Gas Project
July 3, 2021 No Responses

Kano, NNPC, GACN Seal MoU On Gas Project

Kano State Government on Friday signed a Memorandum of Understanding (MoU) with the Nigeria National Petroleum Corporation (NNPC) and  Gas Aggregation Company Nigeria (GACN) Limited on the Ajaokuta-Kaduna-Kano (AKK) pipelines gas project.   Spea...
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PIB: Host Communities To Get $500m Annually
July 2, 2021 No Responses

PIB: Host Communities To Get $500m Annually

Host communities will receive half a billion dollars annually as funding from the three per cent approved for Host Communities Trust Fund in the Petroleum Industry Bill (PIB), the Senate has said.Chairman, Senate Committee on Petroleum Downstream, Sen. Mo...
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Oil Rises As Stockpiles Fall
July 1, 2021 No Responses

Oil Rises As Stockpiles Fall

Oil prices on Wednesday extended the previous day’s small gains after an industry report showed U.S. crude stockpiles fell last week, overriding trader and investor concerns about transportation curbs in some countries as COVID-19 cases surge.Brent crud...
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Court Orders Mobil, NNPC To Pay N82b To Akwa Ibom Communities
June 22, 2021 No Responses

Court Orders Mobil, NNPC To Pay N82b To Akwa Ibom Communities

The Federal High Court, Abuja, has ordered Mobil Producing Nigeria Unlimited and the Nigerian National Petroleum Corporation (NNPC) to pay the oil communities in Ibeno Local Government Area of Akwa Ibom State a cumulative damages of N81.9 billion ove...
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Buhari Flags Off Construction Of NLNG’s Train 7 Project
June 16, 2021 No Responses

Buhari Flags Off Construction Of NLNG’s Train 7 Project

By citybusinessnews@yahoo.com — The President of the Federal Republic of Nigeria, Muhammadu Buhari, GCFR, today flagged off the construction of Nigeria LNG Limited’s (NLNG) Train 7 project during the groundbreaking ceremony at the Company’...
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Oil Prices Climb As Demand Outlook Improves
June 15, 2021 No Responses

Oil Prices Climb As Demand Outlook Improves

Oil prices rose on Monday, extending three weeks of gains that have been underpinned by an improved outlook for fuel demand as increased COVID-19 vaccinations help lift travel curbs, along with tightness in supply.Brent crude was up 51 cents, or...
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