Oil & Gas Archives — Page 12 of 19

October 18, 2017 No Responses

Sec probes Oando, shares on technical suspension

The crisis rocking Oando plc on Wednesday assumed a new dimension as the Secirities and Exchange Commission (SEC) directed the Nigerian Stock Exchange (NSE) to place the shares on technical suspension effective from October 20, 2017. Under the arrangement,...

October 18, 2017 No Responses

INTELS: NPA frustrated attempts to resolve TSA logjam

The management of Nigeria’s oil and gas logistics giant, INTELS Nigeria Limited says the present management of Nigerian Ports Authority (NPA) deliberately frustrated attempts to address the issues raised by introduction of the Treasury Single Account (TSA) i...

October 18, 2017 No Responses

Buhari Signs University of Petroleum Resources Bill

President Muhammadu Buhari Tuesday in Abuja pledged continued support for the socio-economic development of the Niger Delta region. Giving the assurance at a brief ceremony in the State House to sign the bill establishing the University of Petroleum Resources,...

October 17, 2017 No Responses

NLNG demands $315m judgment debt from NIMASA

The Management of Nigeria LNG (NLNG) has formally issued a demand notice for the sum of $315,598,823.29 judgment debt to the Nigerian Maritime Administration and Safety Agency (NIMASA). According to NLNG, the sum represents the payments made under protest.....

October 16, 2017 No Responses

Osinbajo: NNPC did not award $25b contracts

The Nigerian National Petroleum Corporation (NNPC) did not award $25billion contracts, Vice President Yemi Osinbajo has declared. A statement issued on Sunday by the Vice President Senior Special Assistant (SSA), media and publicity, Laolu Akande, explaine...

October 16, 2017 No Responses

Controversy trails NPA, Intels imbroglio

By citybusinessnews@yahoo.com – The controversy surrounding the termination of pilotage contract agreement with INTELS by the Nigerian Ports Authority (NPA) continued at the weekend. Indeed, the controversy has divided Nigerians into two gr...

October 14, 2017 No Responses

NPA replies Intels, insist on level playing field for all operators

By citybusinessnews@yahoo.com – The management of Nigerian Ports Authority (NPA) has dismissed reported plans by Integrated Logistics Services limited (Intels) to withdraw its investment agenda in Nigeria. According to NPA, business thrives in f...

October 13, 2017 No Responses

Osinbajo lauds NLNG, flags off construction of N120b Bonny-Bodo road project

The Vice President of the Federal Republic of Nigeria, Professor Yemi Osinbajo, SAN (GCON), on Thursday in Bonny flagged off the construction of the N120 billion Bonny-Bodo Road to be jointly funded by Nigeria LNG Limited (NLNG) and the Federal...

October 12, 2017 No Responses

Intels to sack more workers

Feelers emanating from Integrated Logistics Services (Intels) on Wednesday indicated that the company is to reduce further its workforce “due to ongoing challenges and hostile business environment”. A source at the headquarters of the seaport conce...

October 11, 2017 No Responses

Chevron to deliver LNG to customers in Asia

Chevron has started producing liquefied natural gas (LNG) at the Wheatstone project in Western Australia. According to Offshore Magazine, the first cargo is on track to be shipped in the coming weeks. At full capacity, the Wheatstone project’s t...

September 27, 2017 No Responses

Oando Shareholders Petition National Assembly

Over 100 shareholders of the troubled Oando Plc have written a petition to the National Assembly alleging corporate governance abuse, mismanagement and gross misconduct. The petition, addressed to the Chairman, House Committee on Capital Market and Instit...

September 22, 2017 No Responses

FICAN honours NNPC boss

The Finance Correspondents of Nigeria (FICAN) has lauded the Nigerian National Petroleum Corporation (NNPC) for growing the Nigerian economy through its operations in the upstream, midstream and downstream with transparency and integrity. Chairman of FICAN, ...

September 21, 2017 No Responses

Oando shareholders protest in Ibadan, demand Wale Tinubu’s Sack

Shareholders of Oando Plc from South Western States stormed Ibadan, Oyo state capital on Tuesday, protesting alleged N263billion liability of the company which the Auditors report claimed is making “Oando Plc no longer a going concern”. Convergi...

September 14, 2017 No Responses

NLNG, FG, JBN sign N120b Bonny-Bodo road project agreement

The construction of Bonny Island–Bodo road in Rivers State came closer to actualisation on Wednesday as Nigeria LNG Limited (NLNG) signed a tripartite agreement in Abuja with the Federal Government, represented by the Ministry of Power, Works and Housing, an...