Energy Archives — Page 54 of 58

September 20, 2016 No Responses

‘Oil discovery in Lagos, good development for Dangote refinery’

The recent discovery of oil in Lagos in commercial quantity has been described as a good omen for the development of the oil and gas industry which Dangote refinery will benefit from. Speaking in his office in Lagos during a...

September 20, 2016 No Responses

Oando sells 49 per cent stake in Gas, Power subsidiary for $115.8 Million

The Board and Management of Oando Plc has concluded arrangement to sell 49 per cent equity stake in its midstream subsidiary, Oando Gas and Power (OGP) Limited to a new investor, Helios Investment Partners for $115.8 million. The transaction...

September 9, 2016 No Responses

Conoil shareholders to get N2.08b dividend

For the year ended December 31, 2015, shareholders of Conoil Plc are to get N2.08 Billion, amounting to N3 per share, compared to N1 paid in the previous year. Despite challenges within the operating year, the company also declared...

September 6, 2016 No Responses

NLNG decries proposed agenda to repeal enabling Act

The Nigeria Liquefied Natural Gas Limited (NLNG) has decried efforts by the legislature to repeal its enabling Act. Managing Director of NLNG, Mr Tony Attah, who led management team of the company on a courtesy visit to the Minister of...

September 6, 2016 No Responses

NNPC denies plan to increase fuel price

The Nigerian National Petroleum Corporation (NNPC) has denied reported plan by the Federal Government to increase fuel price as untrue. . The NNPC Group Managing Director (GMD), Maikanti Baru, told the State House correspondents after meeting with Presi...

August 23, 2016 No Responses

PwC seeks change of tactics for Oil & Gas industry in Africa

The decline in the global oil price has led to a reduced level of activity across the African continent and had an impact on countries that traditionally depend on oil & gas revenue, a new report put together by PwC...

August 17, 2016 No Responses

NNPC faults alleged NPA’s N5Billion debt

By Moses Ebosele – The Nigerian National Petroleum Corporation (NNPC) has blamed its agent, Daddo Maritime for the alleged N5 Billion debt the Corporation is owing the Nigerian Ports Authority (NPA). In a chat with City BusinessNews (www.city...

August 15, 2016 No Responses

NLNG explains reviewed wage scale for seafarers

By Moses Ebosele – Contrary to some media reports, there is no strike by Seafarers or any other employees within Nigeria Liquefied Natural Gas (NLNG) and its subsidiaries. NLNG in a statement on Sunday also explained that the...

August 10, 2016 No Responses

Declare state of emergency on economy, NUPENG tells Buhari

By Moses Ebosele – The Nigerian Union of Petroleum and Natural Gas workers (NUPENG) on Tuesday expressed worry over what it described as “parlous state” of the Nigerian economy. The union in a statement issued by its President, Dr Igwe...

August 10, 2016 No Responses

NNPC denies report on fuel price increase

The management of Nigeria Railway Corporation (NRC) has ruled out possibility of imminient in the pump price of petroleum products. Reacting to online reports suggesting that the Federal Government will soon increase the price of fuel due to the...

August 5, 2016 No Responses

Transcorp suspends $1b power plan

(Bloomberg) Transnational Corp. of Nigeria Plc suspended plans to build one of the nation’s biggest power plants as a local gas shortage makes it difficult to obtain fuel and a downturn in Africa’s largest economy hinders efforts to raise funds for...

August 2, 2016 No Responses

Forte Oil to raise N50 Billion Capital

By Moses Ebosele – The board and management of Forte Oil Plc has concluded plan to raise N50 billion debt capital before the end of this year, December 31, 2016. Presenting its “facts and figures” to Nigeria Stock Exchange (NSE)...

July 27, 2016 No Responses

NLNG partners Warsash on maritime training, safety

By Moses Ebosele – As part of measures to support training and development of mariners globally, Nigeria Liquefied Natural Gas Limited (NLNG) has commissioned a manned model of its new Dual Fuel Diesel Electric (DFDE) vessels at Southampton Solent Univ...

July 26, 2016 No Responses

NNPC intensifies oil search in North-East

By Moses Ebosele – The Nigerian National Petroleum Corporation (NNPC) has intensified search for oil in the Chad Basin and other parts of the North-East. Receiving the Governor of Bauchi State, Mohammed Abubakar, who paid him a courtesy...