Energy Archives — Page 38 of 58

October 6, 2018 No Responses

7,000 Delegates To Ratify Buhari’s Nomination As APC Presidential Candidate

No fewer than 7,000 delegates from the 36 states of the federation and the Federal Capital Territory (FCT) are to converge on Abuja on Saturday to ratify the nomination of President Muhammadu Buhari as the All Progressives Congress (APC) Presidential...

October 5, 2018 No Responses

Ibe Kachukwu: Refineries Will Be Fully Functional Before 2019 Ending

The Minster of State for Petroleum, Dr Ibe kachukwu, has said that it would be sad if the nation’s refineries are not functional by the end of 2019. According to him, the present administration is committed to ensuring that the importation...

September 27, 2018 No Responses

Nigeria Approves $64m Contract For Escravos Power Supply

Nigeria’s Federal Executive Council (FEC) meeting on Wednesday approved $64 million for power supply to Escravos communities. Minister of State for Petroleum Resources Ibe Kachikwu made this known at the end of the FEC meeting chaired by Vice President Yem...

September 21, 2018 No Responses

NNPC Records 48% Reduction In Pipeline Vandalism

The Nigerian National Petroleum Corporation (NNPC) says it has recorded a 48.21 per cent reduction in the rate of pipeline vandalism in the month of April 2018. The corporation disclosed this in its monthly Financial Report, released in Abuja,...

August 30, 2018 No Responses

NNPC Begins Refueling Services To Ships

The Nigerian National Petroleum Corporation (NNPC) has unveiled plans to set up a subsidiary to provide refueling services to ships and other ocean-going vessels. A statement by its spokesman, Mr Ndu Ughamadu, in Abuja on Wednesday, said the move was...

August 29, 2018 No Responses

Total To Sell Stake In LNG Terminal To Shell

French energy major Total has decided to sell its 26 per cent equity stake in Hazira LNG regasification terminal in India to Shell which holds 74 per cent in the facility. The duo signed a binding Letter of Intent (LOI) for...

August 20, 2018 No Responses

NLNG Train 7 To Increase FDI

The Managing Director and Chief Executive Officer of Nigeria LNG Limited (NLNG), Tony Attah, over the weekend said NLNG’s planned Train 7 Project, which will increase production output of its plant from 22 Million Tonnes Per Annum (MTPA) to 30...

August 18, 2018 No Responses

NNPC To List 40% Shares

The Nigerian National Petroleum Corporation (NNPC) is to list 40 per cent of its shares on the floor of Nigerian Stock Exchange (NSE) when the Petroleum Industry Governance Bill (PIGB) gets Presidential Assent. Speaking in Lagos at the 2018 annual conferenc...

August 17, 2018 No Responses

NNPC Seeks Clarification On Proposed Petroleum Asset Management Company

The Nigerian National Petroleum Corporation (NNPC) on Thursday sought clarification on the funding structure of the proposed Nigerian Petroleum Asset Management Company (NPAMC) in the Petroleum Industry Governance Bill (PIGB). Dr Maikanti Baru, the Group Ma...

July 28, 2018 No Responses

Nigeria To Review Revenue Template

President Muhammadu Buhari has ordered for the review of the revenue reporting template between the NNPC and the Federation Account Allocation Committee (FAAC). The Minister of Finance, Mrs Kemi Adeosun conveyed the President’s directive on Friday whil...

July 21, 2018 No Responses

Shell To Sell $2B Nigeria Oil Assets

The Anglo-Dutch oil major is discussing selling oil mining licenses 11 and 17 to Heirs Holdings Ltd., a company run by Nigerian tycoon Tony Elumelu, the people said. Included in the sale are infrastructure assets such as a natural gas-fired...

July 20, 2018 No Responses

Total MD Faces Arrest Over $1B Pipeline Contract

The Senate Committee on Gas, investigating $1billion pipeline contract, has threatened to issue warrant of arrest on Managing Directors, Total and Saipem, if they fail to appear in person on Tuesday. The Chairman of the committee, Senator Basset Akpan, gav...

July 16, 2018 No Responses

Oando: Court Orders Wale Tinubu’s Firms to Pay Volpi $680 Million

The London Court of International Arbitration (LCIA) has issued an award against two companies owned by the Chief Executive Officer of Oando Plc, Mr. Wale Tinubu and his deputy, Mr. Mofe Boyo to pay a total debt of US$680 million...

July 15, 2018 No Responses

LNG Business: Total Seals $1.5B Takeover of Engie’s Portfolio

French energy giant Total has closed the acquisition of Engie’s portfolio of upstream liquefied natural gas (LNG) assets for an overall enterprise value of USD 1.5 billion. Should the oil market mark a major improvement in the coming years, Total’s...