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Monthly Archives: June, 2016

Senate constitutes Committee to probe non-remittance of N1tn by NNPC

The Senate wednesday constituted an ad hoc committee to probe the allegation by the National Extractive Industries and Transparency Initiative (NEITI) that Nigerian National...

NCDMB Fund should be utilised for capacity building – PETAN Chair

The Chairman, Petroleum Technology Association of Nigeria (PETAN) and Managing Director of CB Geophysical Solutions Ltd, Bank-Anthony Okoroafor has said about $200million, being part of...

NIMASA pledges sea time for NSDP cadets

Nigerian Maritime Administration and Safety Agency, NIMASA said it has concluded plans to give cadets of the Nigerian Seafarers Development Programme, NSDP, sea time...

Nigeria’s current account deficits to hit $14.6bn in 2017

As the decline in crude oil prices continues to take a toll on Nigeria’s balance of trade, experts have predicted that the country’s current...

New militant group threatens to blow up Utorogu gas plant

A secessionist group, Utorogun Liberation Movement, ULM, surfaced, Thursday, in Delta State, vowing to destroy the Utorogu Gas Plant, Ughelli, which supplies gas to...

NDPHC staff pledges support for new management

The staff of Niger Delta Power Holding Company, NDPHC have expressed their readiness to work and support the new Ag. Managing Director of the...

Average Costs for Solar and Wind Electricity Could Fall 59% by 2025

Dramatic price drops for solar and wind electricity set to continue as cost reduction drivers shift Abu Dhabi, U.A.E., 15 June 2016 – The...

FG saving N1.4 trillion per annum from subsidy-Kachikwu

…wants NCDMB to build collaborations The recent removal of subsidy from the pump price of premium motor spirit is saving the Federal Government over N1.4...

Saraki seeks global support for clean energy

Senate President, Dr. Bukola Saraki, has canvassed for global support for Nigeria in the area of renewable energy, insisting that the country stands to...

China, Iran to jointly build oil terminal in Persian Gulf

China and Iran have signed a contract to jointly establish an oil terminal on Qeshm Island in the southern Persian Gulf, which will turn...

NLNG to take delivery of last of six vessels worth $1.41bn

The Managing Director, Nigeria Liquefied Natural Gas Limited (NLNG), Babs Omotowa has said that the company will this month receive the last of the six new...

Local content level in oil & gas sector has hit 35% – NCDMB

Strong indications have emerged that implementation of Nigerian content, which was less than five per cent before 2010, when the Nigerian Oil and Gas...

Finally, Niger Delta Avengers agree to talks, insist on foreign mediators

The militant group, Niger Delta Avengers, which has carried out attacks on oil facilities in the Niger Delta region, said it would consider negotiation...

Delmar constructs $200m oil terminal, jetty in Akwa Ibom

Poised to boost fuel distribution in the country, an independent energy firm, Delmar Petroleum Company Limited has kicked-off the construction of a $200 million...

Navy recover vessel used by hijackers

Four months after pirates hijacked an oil tanker, MT MAXIMUS, the Nigerian Navy has recovered a rogue vessel, MT DEJIKUN used by the pirates. Navy...

OPEC expects balanced oil market in second half of 2016

OPEC has forecast that the world oil market will be more balanced in the second half of the year as outages in Nigeria and...

Ikeja Electric launches network monitoring to enhance safety

To further strengthen its commitment towards ensuring the safety of lives and properties, Ikeja Electric, Nigeria’s biggest electricity distribution company, has launched its novel...

Shell announces Q1 Euro and GBP equivalent dividend payments

The Board of Royal Dutch Shell plc has announced the pounds sterling and euro equivalent dividend payments in respect of the first quarter 2016...

Nigeria lost billions of dollars to sharp practices in oil, gas in 2013- NEITI boss

The Executive Secretary, Nigeria Extractive Industries Transparency Initiative (NEITI), Waziri Adio, said Nigeria lost billions of dollars in 2013 to sharp financial practices in...

Her Majesty The Queen to honour young people from Nigeria with Queen’s Young Leaders Award

Her Majesty The Queen will present a Queen’s Young Leaders Award to four exceptional young people from Nigeria at a ceremony at Buckingham Palace,...

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