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FG welcomes back bureaux de change into forex market
Sopuruchi Onwuka The federal government now allows unofficial foreign-exchange trading back into market in a measure to narrow the gap with the official rate the Naira. And the Economic and Financial Crimes Commission (EFCC) has given the Association of Bureaux…
Corruption, hostile environment hinder US investments in Nigeria
Sopuruchi Onwuka The government of the United States of America has blamed uncongenial business environment and fear of corruption as key hindrances to investment capital flow from the world’s biggest economy into the Africa’s most populous country. The American Secretary…
Axxela joins United Nations Global Compact
Sopuruchi Onwuka Pioneer private sector developer of natural gas distribution pipelines in Nigeria, Axxela Limited (Axxela), declares that it has joined thousands of global corporate operators in promoting sustainability under the United Nations (UN) Global Compact initiative. Axxela is a…
Oil prices climb on strong demand, Middle East crisis
Sopuruchi Onwuka The prices of crude at international commodity exchanges surged on Thursday as the International Energy Agency (IEA) agreed with rival Organization of Petroleum Exporting Countries (OPEC) that global demand for petroleum energy will remain string in the year….
Red Sea ship diversions unsettle vessel charter, bunker markets
* Shell, MOL, others halt all transits Sopuruchi Onwuka Continued Pirate attacks by unyielding Yemeni Houthi rebels on international shipping lines and the deterring airstrikes by the United States and the United Kingdom have made crossing canals and seas in…
India dumps sanction crippled Russia, shops oil supply in M. East
India dumps sanction crippled Russia, shops oil supply in M. East Sopuruchi Onwuka, with agency reports One of the fastest growing economies, India, continues to take its best options to meet its energy needs amidst the global security and trade…
Dorman Long thanks NCDMB, announces diamond celebrations
Sopuruchi Onwuka Local fabrication company, Dorman Long Engineering Limited, is grateful to the Nigerian Content Development and Monitoring Board (NCDMB) for its rapid growth in petroleum industry operations, saying that the Nigerian Content policy enabled its diversification from construction to…
TotalEnergies puts Ubeta, Perowei projects on the table
Sopuruchi Onwuka French multinational oil major, TotalEnergies, will activate two main projects in the year; putting the Ubeta gas project and the Perowei deepwater development in focus. To fast track the project, the Executive Secretary of the Nigerian Content Development…
Kyari decries theft, vandalism as threats to Nigeria’s energy sufficiency
Sopuruchi Onwuka The Nigerian National Petroleum Company Limited has tasked educational institutions in the country to join forces with the petroleum industry in evolving solutions to challenges that threaten the nation’s energy security. The Group Chief Executive Officer, Mallam Mele…
Shell cashes out from SPDC JV with $2.4 bn
Sopuruchi Onwuka Shell has finally pulled a foot from the Nigerian conventional petroleum play after selling off the combined interest of multinational private entities in the NNPC/Shell/TotalEnergies/Eni exploration and production Joint venture for a total of $2.4 billion. Shell stated…
