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Ford announces $11.4bn investment, 11, 000 jobs in electric vehicle plants
Sopuruchi Onwuka, with agency reports American biggest automobile brand, Ford, has unveiled plans to sink princely $11.4 billion or N5.7 trillion in production of a range of electric vehicle brands that would dominate its products in the next nine years….
Energy Security: Indigenous players tackle regulators as majors leave
Sopuruchi Onwuka Indigenous companies in the country and government regulators in the petroleum sector are yet to find common grounds on how to effectively capture the reins of operations in the industry as multinational players that have dominated the business…
NCDMB initiates 6th industrial park
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has activated processes for development of an industrial park in Ondo State, making it the sixth of such facilities to be established across petroleum industry hubs in Niger Delta. According…
Glencore’s Stimler confirms Nigeria’s oil bribery scheme
(As published by Bloomberg) When Anthony Stimler left Glencore Plc in August 2019, he had two big secrets: For a dozen years, he’d paid millions in bribes to African officials and intermediaries. And he was now helping a U.S. Justice…
Sylva commissions NCDMB Research Incubation Centre, launches $50m R&D Fund
The Minister of State for Petroleum Resources, Chief Timipre Sylva has commissioned the Technology Incubation and Innovation Center and formally launched the US$50 million Nigerian Content Research and Development Fund, all initiatives of the Nigerian Conten tDevelopment and Monitoring Board…
FG lays frameworks for innovation in petroleum industry
Sopuruchi Onwuka With the global movement for energy transition driving massive divestment of brownfield and medium value assets by multinational oil firms in Nigeria, government have started laying strong foundation for local technical capacity development to position indigenous companies to…
NNPC alters 44 record with N287 bn profit
Sopuruchi Onwuka The Nigerian National Petroleum Corporation (NNPC) has posted a N287 billion profit after tax for 2020, shattering its business performance record in the past 44 year. The figure is contained in the corporation’s Audited Financial Statements (AFS) published…
NCDMB sells Bayelsa State electricity
Sopuruchi Onwuka The Nigerian Content Development and Monitoring Board (NCDMB) has become the first government institution in the country to generate and commercialize electricity from its office power plant. The local capacity development agency which has been leading innovative commercial…
Fuel smuggling: NNPC points at strong lucre pull
Sopuruchi Onwuka The strong pull to make huge and easy profit by selling subsidized Nigerian petrol across neighbouring African countries has made it very difficult to dissuade smugglers from the illegal trade. The Nigerian National Petroleum Corporation (NNPC) declared to…
Total Nigeria Plc appoints Dr. Samba Seye MD
Total Nigeria Plc has announced the appointment of Dr. Samba Seye as the Managing Director of the company. He replaces Mr. Imrane Barry who has been reassigned to TotalEnergies SE Headquarters in Paris. Dr. Seye holds a Doctorate Degree in…
