Category: Energy

Oando’s Q1 turnover drops by 34 %
July 5, 2016 No Responses

Oando’s Q1 turnover drops by 34 %

For the 2016 first quarter, Oando Plc recorded N64.413billion, indicating a drop of 34 per cent when compared with N97.070 recorded within same period in the previous year.   Presenting the company’s “Facts behind the figures” at the Nigerian Stock...
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Buhari charges new NNPC board on dedication
July 5, 2016 No Responses

Buhari charges new NNPC board on dedication

PRESIDENT Muhamadu  Buhari has advised the new Board of Nigerian National Petroleum Corporation (NNPC) to ensure the successful delivery of its mandate and serve the nation by upholding the public trust placed on them in managing “this critical national ass...
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Oando explains ‘facts behind the figures’
July 4, 2016 No Responses

Oando explains ‘facts behind the figures’

Top management staff of Oando Plc will today, July 4th, 2016  address Capital Market Stakeholders ‘with a Facts Behind the Figures Presentation and also sound the Closing Gong’. A team from City BusinessNews will be on ground to provide our...
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Oando gets approval to raise N80b
December 8, 2015 No Responses

Oando gets approval to raise N80b

Shareholders of Oando Nigeria Plc have approved the company’s quest to raise N80 billion by way of rights issue to existing shareholders.   The shareholders also approved plan to divest any or all shareholding and investment in the downstream business...
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Govt proposes partial for refineries
December 7, 2015 No Responses

Govt proposes partial for refineries

As part of measures to operate refineries as profitable ventures, the Federal Government has concluded plans to grant semi-autonomy to the entities.   Meanwhile, the Federal Government has expressed its readiness to raise funds from international investors an...
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Osibanjo decries over-dependence on oil
December 2, 2015 No Responses

Osibanjo decries over-dependence on oil

The Vice-President, Yemi Osinbajo has described Nigeria’s over-dependence on oil resources as a major factor responsible for the high level of corruption in the country. He also identified  restiveness and agitation for resource control, especially in the S...
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PwC predicts drop in ageing power infrastructure by 2020
December 2, 2015 No Responses

PwC predicts drop in ageing power infrastructure by 2020

A survey put together by PricewaterhouseCoopers (PwC) has predicted that ageing infrastructure is expected to significantly reduce in the next five years (2020).  Quoting Chief Executive Officers (CEOs) of power and utilities companies in Nigeria, the survey ...
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NNPC, others to harmonise subsidy claims
December 1, 2015 No Responses

NNPC, others to harmonise subsidy claims

The Senate has directed the Ministry of Petroleum, Nigerian National Petroleum Corporation (NNPC) and other relevant stakeholders to harmonise subsidy claims for October to December 2015. Sen. Danjuma Goje, Chairman, Senate Committee on Appropriation, gave the...
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NCAA bars five marketers from supplying aviation fuel
November 26, 2015 No Responses

NCAA bars five marketers from supplying aviation fuel

The Nigerian Civil Aviation Authority has suspended five oil marketing companies from supplying aviation fuel, also called Jet A1, to local and foreign airlines operating in the country due to lack of depot facilities. According to Punch Newspaper, the compani...
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NNPC partners EFCC, DSS on fuel scarcity
November 26, 2015 No Responses

NNPC partners EFCC, DSS on fuel scarcity

Worried by the ongoing nationwide fuel scarcity, the Nigerian National Petroleum Corporation (NNPC) has implored  the Department of State Services (DSS) and the Economic and the Financial Crimes Commission (EFCC) to help arrest marketers hoarding and divertin...
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FG re-affirms commitment to GECF
November 24, 2015 No Responses

FG re-affirms commitment to GECF

The Federal Government  has assured the Gas Exporting Countries Forum ( GECF)  of its continuous support as it struggles to surmount the challenges that the global oil and gas industry is facing. This assurance was given by President Muhammadu Buhari...
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Panel accuses NNPC of frustrating crude deals probe
November 13, 2015 No Responses

Panel accuses NNPC of frustrating crude deals probe

The House of Representatives ad hoc committee set up by the parliament to investigate the alleged shady deals in the Refined Products Exchange Agreements (crude oil swap) has alleged that  the Nigeria National Petroleum Corporation (NNPC)  conspired to delib...
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NNPC advocates reduction in $30 production cost
November 11, 2015 No Responses

NNPC advocates reduction in $30 production cost

Group Managing Director of Nigerian National Petroleum Corporation (NNPC), Dr. Ibe Kachikwu has described $30 currently spent by oil companies to produce one barrel of crude oil in Nigeria as too high. According to him, the amount should be reduced...
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‘Nigeria to find oil in Chad basin soon’
November 9, 2015 No Responses

‘Nigeria to find oil in Chad basin soon’

Nigeria  is on the verge of discovering significant quantity of oil in the Lake Chad area, North-East Nigeria,  the   Nigerian National Petroleum Corporation  (NNPC) has said. In a statement, NNPC explained that  it was projecting the inflow of $20 billi...
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