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NCDMB leads search for new financing for Africa’s oil industry
Sopuruchi Onwuka Key stakeholders in the African petroleum industry are exploring a combination of reinvestment funds, idle private sector funds, development banks and local credit institutions as new sources of project financing. The scramble for new financing solutions comes in…
Oil prices dive below $100/bbl as demand softens
Oil prices took a dive Tuesday after surfing close to the 2008 record levels, with all major benchmarks shedding market value. The development came as key economies of the world contend with new waves of the coronavirus pandemic, Iran begins…
Renewvia feeds 10,000 people with renewable electricity
Renewvia Solar Nigeria Limited, a subsidiary of Renewvia Energy Corporation, has declared that it has connected nearly 2,000 households in five Niger Delta communities to solar-powered rural electrification minigrids, serving over 6,000 people. The company added that it has also…
Barkindo relieves OPEC of responsibility in Russian oil sanctions
Sopuruchi Onwuka World’s key oil producers’ bloc, the Organization of Petroleum Exporting Countries (OPEC), has declared that it would not take responsibility in geopolitical tension that currently propels price jumps in the global oil market. Secretary General, HE Dr Mohammed…
Nigeria, Senegal reach deal on local content development
Nigeria and Senegal are to work together and share strategies on ways to significantly cut import of goods and services consumed in respective local economies with a view of using huge budgets and investments in the industrial sector to grow…
NLNG commissions historic Consulate on Bonny Island
Nigeria LNG Limited (NLNG), on Saturday, commissioned the Bonny Consulate Building, a 19th-century historic landmark in Bonny Kingdom that was reconstructed as part of plans to boost tourism in the kingdom. The consulate building was the seat of the British…
Seplat says it buys Mobil in Nigeria, not just assets
Seplat Energy Plc has clarified that media reports pointing at exercise of right of pre-emption by Nigerian National Petroleum Company (NNPC) Limited under the NNPC/Mobil Producing Nigeria Unlimited (“MPNU”) Joint Operating Agreement (“JOA”) has nothing to do with its acquisition…
NCDMB, partners to produce 10% local LPG demand
The Nigerian Content Development and Monitoring Board (NCDMB) has secured approval to work with select partners to produce Liquified Petroleum Gas (cooking gas) that would meet 10 percent of current nationwide demand. The Executive Secretary of the NCDMB, Engr….
NNPC potss 353% trading surplus for September
The Nigerian National Petroleum Company Limited (NNPC) Limited has announced a trading surplus of ₦37.50billion for the month of September 2021 representing a 352% increase from the ₦8.29billion surplus in August 2021. Details of the figures contained in the September…
Russia bombs Europe’s largest nuclear power plant
(Agency reports) Russian forces pressed their attack on a crucial energy-producing city by shelling Europe’s largest nuclear plant early Friday, sparking a fire and raising fears that radiation could leak from the damaged power station, according to Associated Press. Plant…
