LATEST ARTICLES

Nigeria’s oil output, budget threatened by oversupply

Nigeria’s oil production and 2017 budget implementation are being threatened by lull in global oil market as crude price continues to plunge causing concerns it drop below $40 per barrel. Global benchmark crude, Brent, has remained below $47 per...

Barkindo Gets Parra’s Endorsement For OPEC Scribe

Sopuruchi Onwuka Nigeria’s nominee for the position of Secretary General of the Organization of Petroleum Exporting Countries (OPEC), Mr. Mohammed Barkindo, has secured the endorsement of a former Petroleum Minister of Venezuela, Dr. Alirio Parra. Dr. Parra who is also an...

Deregulation To Give Equal Opportunity To Marketers

The Chairman, House of Representatives Committee on Downstream Sector, Hon. Joseph Akinlaja declared that the support of the National Assembly to the highly controversial fuel price deregulation is to give equal opportunity to players in the market. The lawmaker who...

WAMCO posts N18.6b profit

FrieslandCampina WAMCO Nigeria Plc makers of dairy products, Peak, Three Crowns and Friso milk, at its 43rd Annual General Meeting in Lagos, said it recorded a turnover of N120.72 billion. A statement issued by the Corporate Affairs Director, Ore Famurewa...

NNPC’s N3.2Trn Debt Hinders JVs

Sopuruchi Onwuka Indigenous investors in the petroleum industry have appealed to government to quickly defray its huge cash call commitment to the operators of joint ventures in order to restore investors’ confidence and save the sector from total collapse. The debt...

Local Content: NASS To Hound Buhari’s China Deal

…To Expand Local Content Scope   Sopuruchi Onwuka in Texas The National Assembly will continue to protect the country’s investors and entrepreneurs from unfair and unfavourable foreign trade relations, especially the Nigeria’s recent trade deals with China. The national legislature will also expand...

FG Sets Petrol Price At N145/Litre

Federal government has announced a new pump price for Premium Motor Spirit (PMS) otherwise known as petrol. It will henceforth sell at N145 per litre Minister of State for Petroleum, Dr. Ibe Kachikwu who disclosed this after a marathon meeting with...

Power: TCN To Sign Agreement On 265MW Spinning Reserves

Sopuruchi Onwuka   Following incessant attacks on gas pipeline and recent grid instability as experienced by millions of power consumers nationwide, the management of Transmission Company of Nigeria (TCN) and the Niger Delta Power Holding Company (NDPHC) are currently working on...

Operators Demand Financial Autonomy for JVs

Sopuruchi Onwuka Government could quickly grant administrative and financial autonomy to the multiplicity of petroleum exploration and production joint ventures (JVs) in order to relinquish its funding obligations, arrest investment decline and accelerate activities that translate to enhanced economic benefits...

Shell’s Prelude Makes Deep Progress

Shell’s Prelude Makes Deep Progress In a video, Shell shows a video that its giant Prelude is taking shape deep beneath the sea, in the waters offshore Western Australia. With construction of the Prelude FLNG facility well underway in the shipyard...