Energy – Page 52 – City Business News

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...

July 12, 2018 No Responses

NLNG Seeks $7B For Expansion, Targets 30 Million Tonnes Per Annum

In the build-up towards Final Investment Decision (FID) later in 2018, Nigeria LNG Limited (NLNG)is seeking $7 billion from the global financial markets for the sustainability of its operations and expansion project which will increase its production capacity ...

July 11, 2018 No Responses

NNPC Comes Under Scrutiny Over Alleged N100b Under-Remittance

Citing alleged under-remittance of funds, the House of Representatives has commenced an investigation into the earnings of the Nigerian National Petroleum Corporation (NNPC) since the begining of this year. According to the lawmakers, the investigation wil...

July 6, 2018 No Responses

“NNPC Pays $1b Out Of $5b Cash Call”

The Nigerian National Petroleum Corporation (NNPC) has paid $1billion out of its $5billion cash call. The Group Managing Director, Dr. Maikanti Baru stated this in Abuja while addressing the corporation’s workers via a mail broadcast to commemorate his two-y...

July 1, 2018 No Responses

“NNPC Must Remit N20b To Federation Account”

As the controversy over alleged non-remittance of N20billion to the federation account by Nigerian National Petroleum Corporation (NNPC) continues, states on Saturday insisted the money must be remitted without further delays Chairman of the Finance Commiss...

June 28, 2018 No Responses

Nigeria Targets 10% Global LNG Market

Nigeria has unveiled agenda to attain 10 per cent of the world’s market share in traded Liquefied Natural Gas (LNG) as part of measures to derive maximum value from its abundant natural gas resources. Group Managing Director of the Nigerian...

June 25, 2018 No Responses

NLNG To Receive 23,000 Cubic Metres New LPG Vessel In 2020

Moses Ebosele, ebosele@hotmail.com – Nigeria LNG Limited (NLNG) has concluded plans to receive 23,000 cubic metres new vessel in 2020 as part of measures to reinforce the Domestic Liquefied Petroleum Gas (LPG) market, boost volume and availability...

June 12, 2018 No Responses

NLNG Hands Over 85 Entries To Advisory Board

For the first time in the history of The Nigeria Prize for Science, sponsored by Nigeria LNG Limited (NLNG), the 2018 edition of the prize has received a record-breaking eighty-five (85) entries, from innovators and scientists in the electric power...

June 7, 2018 No Responses

Seplat Gas Business Lifts Total Revenue By $124 million

Seplat Petroleum Development Company Plc has pledged to sustain expansion of its Gas as part of measure to impact positively on its Group Revenue. Speaking during an interactive session with Journalists after the 2017 Annual General Meeting on Wednesday...

June 3, 2018 No Responses

Conoil Explains N1.4B Dividend

Conoil Plc has proposed N1.4billion as dividend payout to its shareholders for its last financial year in the face of daunting economic challenges in the country. This translates to N2.00 on every 50 kobo ordinary share. It is in line...

June 2, 2018 No Responses

NLNG Pledges To Deliver Over 300 Cargoes Worldwide

Nigeria LNG Limited is taking major steps at sustaining its reputation as a safe, reliable and secure supplier of Liquefied Natural Gas (LNG) and Natural Gas Liquids (Condensate and LPG) worldwide. Managing Director and Chief Executive Officer of the Company...