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NCDMB hits 54% Nigerian Content quotient
Charges indigenous companies on compliance Mid-way into a 10-year Strategic Road Map for enhanced indigenous participation and utilisation of local assets in oil and gas operations, industry regulator Nigerian Content Development and Monitoring Board (NCDMB) has recorded a 54 per…
UNN-ASUU protests withheld salaries by FG
Chinedu Nwafor, Abakaliki The Academic Staff Union of Universities (ASUU) University of Nigeria Nsukka Chapter, has protested the pro-rata October salary payment and backlog of 8-month salaries owed its members by the Federal Government.During the protest, theunion directed lecturers to…
EU considering $62/bbl for Russian oil cap
European Union states debated whether to set a price cap as low as $62 a barrel on exports of Russian crude oil after several countries demanded a level that could put more pressure on Moscow, but the talks remain stuck,…
Biden relaxes sanctions on Venezuela, Chevron to resume ops
The U.S. government is allowing Chevron to pump Venezuelan oil, following an agreement signed by representatives of President Nicolás Maduro and the opposition aimed at helping Venezuela out of its crisis. Venezuela’s government and its opposition on Saturday agreed to…
Venezuela in deal to restore democracy, open up economy
Venezuela’s government and opposition have asked the United Nations to manage a fund for billions of dollars now held in foreign banks, which will be gradually unfrozen to combat a humanitarian crisis in the oil-rich nation, delegates announced in Mexico…
Sinopec confirms 146 Bcm reserves in new shale basin
China’s Sinopec declared weekend that it has confirmed significant 146 billion cubic meters (bcm) of certified proven natural gas reserves in a new shale gas field in the Sichuan basin. The shale gas reserves at the Qijiang shale field in…
Dollar crunch: Ghana to barter oil with gold
Government of Ghana says it is working on a new policy to buy oil products with gold rather than U.S. dollar reserves in order to save the local cedi from freefall, curb inflation and level the country’s balance of payment…
Aging workforce: IMF report wants relaxed immigration rules for Africa
Sopuruchi Onwuka, with agency reports With aging population and predicted drop in overall population of industrialized western countries, it has become necessary for Europe and America to relax immigration rules and allow inflow of younger generation of Africans to repopulate…
Multiple windows: Investors adopt equity templates for forex rate
Sopuruchi Onwuka With inability of businesses to secure adequate foreign exchange at official rates to drive transactions that transcend the country’s borders, business proposals involving international transactions have become source of confusing calculations. Whereas the official rates for the exchange…
PIA is delivering key investment goals – Sylva
Sopuruchi Onwuka The newly activated Petroleum Industry Act (PIA) is delivering the key objectives of government in providing congenial domestic industry environment for capital importation and attraction of global investments. Minister of State for Petroleum Resources, Chief Timipre Sylva, stated…
