Energy

Oil price heads to $70 as global market peaks

Oil price rose and Nasdaq Composite had its best day in nearly a year on Saturday, boosted by strong corporate earnings, while the euro posted its worst week of 2017 after the European Central Bank decided to prolong its bond buying to keep interest rates low.

Oil price tops $60 for first time in more than two years

The price of a barrel of oil has topped $60 for the first time in more than two years on rising expectations of a renewed deal to cut supplies.

PTDF-trained welders resume at Kaduna, Warri refineries

No fewer than seventy five beneficiaries of the Petroleum Technology Development Fund (PTDF) Welders Training and Certification Programme (WTCP) have commenced a six-month post training attachment at the Kaduna and Warri refineries.

PENGASSAN insists on passage of Petroleum Industry Bill

Workers in the oil and gas sector on Friday alleged that the huge loss of revenue and investments in the country was due to delay in the passage of the Petroleum Industry Bill (PIB).

ExxonMobil’s Q3 earnings rise to $4 billion

Higher oil prices significantly boosted ExxonMobil’s third-quarter earnings, more than offsetting the hit to operations from US hurricanes, the oil giant reported Friday.

Ghana’s downstream sector regulator seeks collaboration with Nigeria’s Techno Oil

A delegation from Ghana’s National Petroleum Authority (NPA) visited the management of Techno Oil Ltd. in Lagos on Friday, to seek collaboration on Liquefied Natural Gas (LPG) and cylinder marketing in Ghana.

NNPC commences crude oil exploration in Nasarawa

The Nigerian National Petroleum Corporation (NNPC) has commenced exploration activities in the Benue Trough.

Fed govt approves $1.1 billion PPA for Qua Iboe Power Project

The government also approved a Put/Call Option Agreement (PCOA), which NBET and the Ministry of Finance agreed with the project’s investors – the Qua Iboe Power Plant Limited (QIPP).

Mobil takes over ownership of Qua Iboe power plant

Mobil Producing Nigeria Limited, operator of NNPC and MPN Joint Venture, on Thursday said it had reached commercial terms with Qua Iboe Power Plant Limited for the transfer of ownership of the Qua Iboe power project.

Court rules on Total’s sack of 257 workers October 31

The National Industrial Court, Abuja, has fixed Oct. 31 to rule on a motion brought by Luck Guards Ltd, praying the court to strike out its name from the suit filed by 257 disengaged workers.

No need for forensic audit – Oando tells SEC

The management of Oando Plc says it does not see the need for a forensic audit by Securities Exchange Commission (SEC).

Why we moved against Oando – SEC

The Securities and Exchange Commission (SEC) has accused the management of Oando Plc of declaring false financial statements and unrealised profits.

Oando fights back, obtains court order against SEC

The order also restrains the SEC and any other parties claiming through or working on behalf of the regulator from conducting any forensic audit into the affairs of the Company pending the hearing and determination of the matter.

Dangote’s refinery should meet local needs – Ibe Kachikwu

Dr. Emmanuel Ibe Kachikwu, minister of state for petroleum, says the 650,000 barrels per day capacity refinery being constructed by Aliko Dangote, “should be enough to meet local needs”.

Court stops suspension of Oando shares, audit

Oando Plc has obtained an ex-parte order from the Federal High Court restraining the Nigerian Stock Exchange from implementing a technical suspension of its shares.

26 Companies express interest in revamping nation’s 3 refineries at $2 billion – Ibe...

Nigeria’s Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, said on Tuesday that 26 firms have indicated their interest in the revamping of the nation’s three existing refineries.

Jos DisCo sacks 150 workers

The Jos Electricity Distribution Company (JEDC), has sacked 150 workers, in what its management said was part of a re-organisation aimed at optimum performance.

Oando gets court order to lift share price suspension

Nigerian oil company Oando has obtained a court order to lift the suspension of trading in its shares and halt a forensic audit planned by the Securities and Exchange Commission (SEC), court documents seen by Reuters showed on Tuesday.

Recent Stories

Kazakhstan has renamed its capital Nur-Sultan, in honour of the country's longtime president who resigned in a surprise move earlier this week.

Kazakhstan renames capital to honour ex-leader

Kazakhstan has renamed its capital Nur-Sultan, in honour of the country's longtime president who resigned in a surprise move earlier this week.

Police arrest three suspects over ‘humiliating’ nude woman in viral video in Anambra

The Police Command in Anambra has arrested three persons allegedly involved in production and circulation of a viral video where a nude woman was humiliated.
Mrs Iyabo Toluhi (nee Adesanmi), the elder sister of the late Prof. Pius Adesanmi, on Saturday described the death of his brother as a great loss to the family and community.

Pius Adesanmi’s demise a great loss to our family – sister

Mrs Iyabo Toluhi (nee Adesanmi), the elder sister of the late Prof. Pius Adesanmi, on Saturday described the death of his brother as a great loss to the family and community.
All Progressives Congress (APC) Nigeria

Lagos elections: APC wins Ibeju-Lekki supplementary polls

The Independent National Electoral Commission (INEC) has declared the All Progressives Congress (APC) candidate for Ibeju-Lekki State Constituency I, Mr Fatai Mojeed, winner of the supplementary election in the area.

Senator-elect Ifeanyi Ubah backs Ahmed Lawan for Senate President

Anambra South Senator-elect, Mr Ifeanyi Ubah, has pinched tent with a group of elected lawmakers in the incoming 9th Senate led by Sen. Ahmed Lawan.