Energy

States forfeit $250m NLNG dividends – NSIA

The Nigeria Sovereign Investment Authority, NSIA, yesterday, disclosed that the 36 states of the federation forfeited their share of the 2016 dividends of the Nigerian Liquefied Natural Gas, NLNG, for reinvestment purposes.

Power generation stagnates at 2,503gwh in Q2

Electricity generation statistics for second quarter (Q2) of 2017, showed a total average of 2,503 Giga watts hour (GWh) of energy was generated by power stations in Nigeria.

Chevron spends $2.5bn on Nigerian local content initiative

Chevron Nigeria Limited (CNL) said it spent $2.5 billion on local content development in Nigeria’s oil and gas sector, representing 65 per cent of the total Nigerian goods and services expenditures for the year.

Oil producers committed to output cut deal – OPEC

Global oil producers said Tuesday they remained committed to cutting output and stemming the collapse in oil prices, OPEC said.

Addax Petroleum confirms planned closure of 3 offices

The Addax Petroleum Company on Tuesday confirmed the proposed closure of its corporate offices in Geneva, Aberdeen and Houston in the United States of America.

Yenagoa residents laud DISCO over improved power supply

Some Yenagoa residents and business outfits have lauded the Port-Harcourt Electricity Distribution Company (PHEDC), for improved power supply in the area.

Nigeria requires N3.05 trillion to increase oil production – minister

The Nigeria’s oil and gas industry would require $10 billion (N3.05 trillion) over the next three years to increase crude oil production from 2.2 million barrels per day (bpd) to 3 million bpd.

NNPC owes oil firms N2 trillion in cash call – Baru

The Nigerian National Petroleum Corporation has put the cash call arrears owed oil companies for the development of joint venture assets at $6.6bn (N2.01tn).

NNPC targets $30bn earnings from diverse investments in 10 years

Dr. Baru commended the NNPC finance and technical teams for being able to attract the much needed foreign investment at a period when it has become increasingly difficult to attract foreign credit facilities.

Nigeria’s crude production stands at 2.35 million barrels per day – NNPC

The Nigerian National Petroleum Corporation, NNPC, said on Monday the nation’s current crude oil production had risen to 2.35 million barrels per day.

Nigeria lost $60bn to non-enforcement of PSCs with Oil majors – Kachikwu

The Minister of State for Petroleum Resources, Emmanuel Ibe Kachikwu, says Nigeria has lost about $60 billion to the non-enforcement of the terms of the Production Sharing Contracts signed between the federal government and the international oil companies.

Nigeria needs meters to account for daily oil production – Sen. Oduah

A lawmaker, Sen. Stella Oduah, has urged Nigeria National Petroleum Corporation to put an adequate metering system in place to enable Nigerians to know the country’s exact daily oil production.

Power generation drops by 1,835.6MW in 3 days

The total quantum of electricity on the nation’s power grid crashed by 1,835.6 megawatts within a period of three days.

Manufacturers spent N129.95bn on power in 2016 – report

The instability in electricity supply from the national grid has continued to make businesses to look inwards through independent power generation, a new report has said.

N110bn debt: Skye Bank seeks to take over Omokore’s oil wells

The management of Skye Bank Plc is seeking to take over some oil wells belonging to Jide Omokore, a businessman involved in some corruption cases within and outside Nigeria saying Omokore is indebted to it to the tune of about N110bn at an exchange rate of $1/N315.

Forte Oil in talks on refinery deal to boost capacity

Nigeria's Forte Oil said on Friday it was in talks with a major refinery to form a strategic partnership for local refining of petroleum products in Africa's top oil exporter, its chief executive said.

Ambode seeks NERC’s approval for 3,000MW power project

Lagos State Governor, Mr. Akinwunmi Ambode, on Friday sought a no objection letter from the Nigerian Electricity Regulatory Commission (NERC) for the State Government’s Embedded Power Programme.

Transparency: Auditor-General commends NNPC

The Auditor-General for the Federation, AGF, Anthony Ayine, on Friday commended “the practical efforts’’ of the present NNPC management in ensuring probity, accountability and transparency in its operations.

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An ambulance is seen outside the church premises with gathered security personnel following a blast at St Anthony's Shrine in Kochchikade, Colombo. [Ishara S. Kodikara-AFP]

World leaders react to deadly Sri Lanka blasts

Religious and world leaders have condemned a series of blasts in Sri Lanka that killed more than 150 people on Sunday, including dozens of foreigners — with British, Dutch and American citizens believed to be among them.
Liberia's President George Weah speaks during a news conference at Presidential palace in Abidjan, Ivory Coast, April 4, 2018. REUTERS-Thierry Gouegnon

Liberia, Niron agree on movement of iron ore

Liberia and Niron Metals Plc have signed a Memorandum of Understanding for the passage through Liberia, of iron ore, from the Zogota iron ore deposit in the Republic of Guinea.
A large hoard of cash has been found at the home of Sudan’s ousted president Omar al-Bashir and he is now being investigated for money laundering, prosecutors say.

Over $130 million found at ousted Omar al-Bashir’s home in Sudan

A large hoard of cash has been found at the home of Sudan’s ousted president Omar al-Bashir and he is now being investigated for money laundering, prosecutors say.
Thomas Lemar hopes Antoine Griezmann will still be an Atletico Madrid player next season, while the winger accepts he has more work to do to fully adapt to life in LaLiga.

Thomas Lemar hopeful Antoine Griezmann stays at Atletico Madrid

Thomas Lemar hopes Antoine Griezmann will still be an Atletico Madrid player next season, while the winger accepts he has more work to do to fully adapt to life in LaLiga.
President Buhari signs New National Minimum Wage Bill into Law in State House on 18th April 2019 1

Group tasks governors to emulate President Buhari on minimum wage

As the nation’s workforce continue to heave a sigh of relief following Presidential assent to 30,000 Naira minimum wage bill, state governors have been urged to sustain the tempo.