Nigeria: Government explains stable power supply
31 August 2015, Abuja – The Permanent Secretary, Ministry of Power, Ambassador Godknows Igali, on Monday said electricity has been stable i...
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Electricity: CPC summons DISCOs over ‘crazy bills’
31 August 2015, Abuja – Inundated with consumer complaints, the Consumer Protection Council (CPC) has summoned all electricity Distribution...
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Almansoori targets new technologies, innovations at SPE Offshore Europe
31 August 2015, Sweetcrude, Abu Dhabi – AlMansoori Specialized Engineering, the leader in oilfield services in the Middle East, will be loo...
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Shell to train 150 Niger Delta youths in enterprise development
31 August 2015, Sweetcrude, Lagos –Another 150 youths from the Niger Delta are to benefit from the 2015 LiveWIRE programme of the Shell Pet...
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GFI forms Africa Advisory Group to drive policy goals
*Four Former Ambassadors to Lend Regional Expertise 31 August 2015, Sweetcrude, Washington, DC – Global Financial Integrity (GFI) is please...
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Oil dips in early trade
31 August 2015 – Oil prices fell in Asia on Monday as traders took profits, snapping three days of gains last week that saw the biggest two...
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Warri refinery resumes operation Tuesday after shut down – NNPC
Oscarline Onwuemenyi 31 August 2015, Sweetcrude, Abuja – Warri refinery, which has been shut down temporarily since last week Monday will r...
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Financial market products & services update
31 August 2015, Sweetcrude, Houston – Local and international financial market products and services update. FX: No significant change in t...
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OPEC daily basket price close at $45.19/b
31 August 2015, Sweetcrude, Vienna, Austria — The price of OPEC basket of twelve crudes stood at 45.19 dollars a barrel on Friday, compared...
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Nigeria: Banks beg govt to relax Single Treasury Account policy
31 August 2015, Abuja — Nigerian Deposit Money Banks, DMBs, have begun a campaign to beg the federal government to review the implementatio...
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Nigerian Content Board, NUC partner to connect oil industry with universities
31 August 2015, Sweetcrude, Lagos – The Nigerian Content Development and Monitoring Board, NCDMB, and the Nigerian University Commission, N...
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Fitch: Nigerian banks in trouble, may post decline performance indicators
31 August 2015, Lagos – Fitch Ratings has declared that Nigerian banks are operating in increasingly difficult conditions as this may resul...
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Cash crunch: CBN intervenes with N212bn
31 August 2015, Lagos – A bail out liquidity management by the Central Bank of Nigeria, CBN, may ensue in the banking system if liquidity s...
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Rattled by pure sentiment in August, markets return focus to fundamentals
31 August 2015, News Wires – August has proven to be a month of extreme volatility for oil prices, but how much of this is based on sentime...
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For OPEC, this year’s painful oil slump will bring gains in 2016
31 August 2015, News Wires – While OPEC’s fight to snatch market share from rival oil producers might look like a costly failure as prices ...
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Russian oil firms raise profits and output, spurred By rouble weakness
30 August 2015, News Wires – Russian oil firms are increasing their rouble profits and raising production as a weak currency protects their...
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Cobalt agrees to $1.75bn transaction with Sonangol for Angola blocks
30 August 2015, News Wires – Cobalt International Energy Inc. has announced that it has signed an agreement to sell its entire 40 percent p...
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Ban on modular refineries fuels attacks, violent deaths
30 August 2015, Yenagoa – No one would have imagined that the creeks and waterways of Bayelsa State, given their serenity and alluring veg...
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Power firms not ready for commercial market — TCN
30 August 2015, Abuja – The continued flouting of the contractual demands of the Transitional Electricity Market by power distribution comp...
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Corruption: University workers want govt to revoke all oil well licences
30 August 2015, Abuja – The Senior Staff Association of Nigerian Universities (SSANU), on Sunday called on President Muhammadu Buhari to re...
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Agreement inked with Gazprom to supply liquefied gas to Egypt
30 August 2015, Cairo – Petroleum Minister Sherif Ismail said on Thursday 27/08/2015 that an agreement was inked with Russian company Gazpr...
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Obama Africa trip: US institutional investors to discuss Africa co-investments
30 August 2015, Sweetcrude, Houston – Africa investor (Ai), a leading international investment and communications group, today announced th...
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Buhari approves 65 licences for private refineries
*Decision taken within 10 days in office *DPR feigns ignorance 30 August 2015, Lagos – President Muhammadu Buhari has granted licences to 6...
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NNPC committee recommends sale of refineries, Buhari disagrees
30 August 2015, Abuja – The Nigerian National Petroleum Corporation has recommended the sale of the nation’s three refineries in Port Harco...
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Vandals cut N40m NIPP power transmission tower in Abia
30 August 2015, Abuja — The Niger Delta Power Holdings, NDPHC, Plc, which is handling the 10 National Integrated Power Project, NIPP, plant...
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Nigeria: Why we now have electricity – Amadi
30 August 2015, Abuja – Dr. Sam Amadi is the chairman, Nigerian Electricity Regulatory Commission (NERC). In this interview with PEMBI DAVI...
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Developing nations need $133bn geothermal investment by 2030 – Report
30 August 2015, Sweetcrude, Toronto — Kenya and Turkey have exceeded forecasts for harnessing geothermal energy, but other developing count...
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Crackdown on modular refining fuels attack, violent deaths
30 August 2015, Yenagoa – No one would have imagined that the creeks and waterways of Bayelsa State, given their serenity and alluring vege...
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Jonathan, Diezani under probe over $6m mobile stages
…Fund drawn from one of NNPC’s numerous accounts 29 August 2015, Abuja – The ongoing probe of the past administration by President Muhammad...
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DPR seals 28 petrol stations in Imo
29 August 2015, Owerri – No fewer than 28 petrol stations have been shut down in Imo State by the Directorate of Petroleum Resources (DPR),...
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PPMC counts achievements amid controversies
29 August 2015, Lagos – Despite the controversies surrounding the Crude for Petroleum Products Exchange Agreements, better known as crude o...
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Shell declares force majeure on Bonny Light exports
29 August 2015, Lagos – The spate of pipeline vandalism and crude oil theft in the Niger Delta is increasingly assuming alarming proportion...
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Ethiopia first country to launch Climdev-Africa Special Fund Project
29 August 2015, Addis Ababa – The ClimDev Africa Special Fund (CDSF) launched its first project in Ethiopia on August 3 to help the country...
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First two projects of Africa Climate Change Fund approved
*To support climate finance readiness in Africa 29 August 2015, Sweetcrude, Houston – The newly established Africa Climate Change Fund (ACC...
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NNPC reduces list of potential oil lifters from 43 to 16
29 August 2015, Abuja — In a novel move to instill transparency and probity in the award of the annual crude oil term contracts, the Nigeri...
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South Africa: Petrol price drops by 69 cents
29 August 2015, Pretoria — The price of petrol will drop by 69 cents a litre as of next week, the Department of Energy said on Friday. The ...
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How banks, govt officials aided marketers to loot subsidy billions
*And they are all walking away *EFCC double standards exposed! 29 August 2015, Lagos – Impunity twerked naked at the market square. It is s...
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NNPC shuts down Warri refinery over crude oil shortage
29 August 2015, Abuja – The Nigerian National Petroleum Corporation, NNPC, yesterday, stated that it has shut down the Warri Refineries due...
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New NNPC man makes his mark
28 August 2015, News Wires – Ibe Kachikwu, head of the Nigerian National Petroleum Corporation (NNPC), is taking no prisoners as he forges ...
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Oil steady after bounce back
28 August 2015, News Wires – Oil prices steadied on Friday after bouncing back from six-and-a-half-year lows on recovering equities markets...
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Schlumberger’s buyout proposal makes sense
28 August 2015, News Wires – Schlumberger’s proposed buyout of equipment-maker Cameron is a natural progression in the oil service industry...
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NOV axes Norway staff
28 August 2015, News Wires – National Oilwell Varco (NOV) has confirmed it is axing 900 jobs in Norway as a market slump has taken a toll o...
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Statoil eyes Sigrun East
28 August 2015, News Wires – Statoil has been granted safety clearance to drill a wildcat at the Sigrun East prospect in the Norwegian Nort...
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Petrobras ‘urges delay’ for fuel IPO
28 August 2015, News Wires – Management at Brazil’s state-controlled Petrobras has urged the company’s board to delay a planned initial pub...
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Settlement reached in decade-long oil spill
28 August 2015, News Wires – A New Orleans independent will pay $400,000 for coastal research as part of a settlement in a lawsuit over a U...
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Nigerian banks heading into storms – Fitch
28 August 2015, Lagos – Fitch Rating has warned that Nigerian banks are heading into financial and operational storms in view of what it ca...
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Avoid strike, offset maritime workers’ salary arrears, Ministry advises NPA
28 August 2015, Lagos – The Federal Ministry of Labour and Productivity on Thursday called on the management of the Nigeria Ports Authority...
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Midwestern Oil and Gas clarifies transaction with Mart Resources
28 August 2015, Lagos – Midwestern Oil and Gas Company Limited has confirmed the termination of the business arrangement it had with Mart R...
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DPR seals 28 petrol stations in Imo
28 August 2015, Lagos – No fewer than 28 petrol stations have been shut down in Imo State by the Directorate of Petroleum Resources (DPR), ...
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Importers seek downward review of customs tariffs
28 August 2015, Lagos – Importers in Nigeria have called on the federal government to make a downward review of customs tariffs on cargoes ...
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Lagos - Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November ...
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Cape Town/Moscow - South Africa’s national oil company PetroSA and Russia’s state geological company Rosgeologia are in talks to finalize a ...
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Lagos - Improved margins and freight rates have boosted price offers for both heavy and sweet West African crude oil as at Friday, November ... -
Mkpoikana Udoma Port Harcourt - The Ijaw Youth Council, IYC worldwide has threatened to shut down the head office of the Niger Delta Develop...