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Axxela, other investors grab stakes in Eko Disco
New investors to transform EKEDC into integrated power firm Sopuruchi Onwuka A number of deep pocket investors have acquired significant equity stakes in the Eko Electricity Distribution Company (EKEDC) Limited, clearing the path for the power marketing company to transform…
Ardova Plc in bulk purchase deal with Dangote Refinery
In a bid to guarantee supply security at affordable prices for its customers, Ardova Plc, one of Nigeria’s major integrated downstream oil and gas businesses has agreed to a bulk purchase framework with Dangote Refinery. The framework, according to Head…
170 graduates benefit from Shell, partners’ internship programme
A total of 170 young graduates have benefitted from the NCDMB/PETAN/SPDC JV Graduate Internship programme, in which they were attached to indigenous technical oilfield service companies in the upstream and downstream sectors for hands-on experience. Some 133 of the interns…
Climate action: New York to slam oil firms with $75 billion fine
The state of New York in the United States has declared that it will fine fossil fuel companies a total of $75 billion over the next 25 years. The fine is meant to pay for damage caused to the climate…
China to generate annual 300 bn kWh from world’s largest dam
Sopuruchi Onwuka, with agency reports The Chinese government has approved the construction of a massive hydroelectric power plant over the world’s largest dam to be built over the sacred Yarlung Tsangpo River in the Tibet autonomous region. When ready, the…
NNPC Ltd reactivates command center to track field operations
Sopuruchi Onwuka The Nigerian National Petroleum Company Limited (NNPC Ltd) says it has reactivated tracking of field operations activities across major industry installations in the country. Spokesman, Mr Femi Soneye, stated in a release that the company’s Group Chief Executive…
At last, oil prices fall at Christmas!
Sopuruchi Onwuka It is a surprise to Nigerian motorists that the nation’s main transportation fuel, the premium motor spirit (PMS) which is also called petrol, is not only sufficient in supply but also cheaper at the peak on annual demand…
Dangote Refinery in deal with MRS to sell PMS at N935 per litre
Commends Tinubu on de-dollarization of dom-fuel transactions Sopuruchi Onwuka Price war which has polarized marketing groups in the domestic petroleum market along two main supply sources is beginning to yield dividends as Africa’s biggest fuel producer, Dangote Refinery, is in…
Recovery agenda: NUPRC auctions 25 oil blocks
Sahara, Sifax, Panout trounce NNPC to sweep blocks Sopuruchi Onwuka All the international oil companies (IOCs) operating in the country, except TotalEnergies, were unable to win any of the 25 oil blocks at the 2024 bid round organized by the…
