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Tullow exits Uganda project, sells stake to Total for $575 million

Tullow Oil said that Total has agreed to buy its entire stake in their joint onshore oil fields in Uganda for $575 million as part of its target to raise $1 billion this year to tackle its $2.8 billion debt pile.
Donald Trump

Oil, gold prices soar, equities tumble as Donald Trump tweets war

Oil prices surged, gold hit a more than six-year high and most equities tumbled Monday after the US assassination last week of a top Iranian general fanned fears of a major conflict in the Middle East.

US advises all Americans to leave Iraq

The US embassy in Baghdad has urged all US citizens to leave Iraq immediately, after the US killed Iranian military general and hardliner Qassem Soleimani and Iraqi militia commander Abu Mahdi al-Muhandis in a Friday airstrike.
The African Development Bank, AfDB, says it has approved a 70 million dollar loan for a road project in Ebonyi. The bank said on its website on Friday that it would provide $40 million, while its co-financier, the Africa Growing Together Fund (AGTF), would contribute $30 million for the project.

LNG: AfDB supports Mozambique with $400 million

The Board of Directors of the African Development Bank Group on Thursday approved a long-term Senior Loan of $400 million to support the building of an integrated Liquefied Natural Gas (LNG) plant, including a liquefaction facility in Mozambique.

Oil prices dip as gloom gathers over global economy

Oil prices fell on Monday, extending last week’s heavy losses, with traders fearing the global economic slowdown will weigh on future oil demand growth while pegging hopes for a rebound on progress in talks this week on ending the US-China trade war.
The Executive Vice President of China National Offshore Oil Corporation (CNOOC), Mr. Lu Yan Ji, said the company has invested over $16 billion in Nigeria’s oil industry and described the country’s one of its largest investment destinations.

China pumps $16 billion in Nigeria’s oil industry

The Executive Vice President of China National Offshore Oil Corporation (CNOOC), Mr. Lu Yan Ji, said the company has invested over $16 billion in Nigeria’s oil industry and described the country’s one of its largest investment destinations.
Nigerian National Petroleum Corporation (NNPC)

NNPC targets China to boost crude reserves

The Nigerian National Petroleum Corporation (NNPC) is banking on its blooming strategic partnership with China and new investments in the upstream petroleum sector to actualize the nation’s crude oil reserves and 3,000,000 barrels per day oil production target by 2023.
Nigerian National Petroleum Corporation (NNPC)

Total, NNPC complete, hand over N900 million projects to eight northern states

Total Upstream Nigeria Limited, Nigerian National Petroleum Corporation, NNPC and its partners, yesterday, handed over 10 projects in health, education and information technology, valued at N900 million to eight states in the northern region of the country.

UN: Foreign investment into Nigeria drops by 43 percent

Foreign direct investment in Nigeria, Africa’s top oil producer, plunged by 43 per cent to $2bn, according to a United Nations report.
Uganda crude oil rig

Uganda revises first oil production to 2022

Uganda expects to begin producing oil in 2022, its energy minister Irene Muloni said on Wednesday, indicating a slight delay from the country’s revised target of 2021.

Stakeholders seek mandatory use of life jackets on waterways

French oil giant Total has called for enforcement of the use of life jackets by people, who make use of Nigeria’s waterways.
Nigerian National Petroleum Corporation (NNPC)

Federal government, China sign agreement on oilfield services

In what could be described as a strong move to develop Nigeria’s oilfield services and boosting research and development in the oil and gas industry, the Nigerian National Petroleum Corporation (NNPC) has signed a Memorandum of Understanding (MoU) in China with the China National Offshore Oil Corporation (CNOOC).
2 The $3.3 billion floating production storage offloading (FPSO) vessel for the Egina deepwater oilfield departed for the oilfield in the early hours of Sunday.

In Pictures: Egina FPSO sails to OML 130

The $3.3 billion floating production storage offloading (FPSO) vessel for the Egina deepwater oilfield departed for the oilfield in the early hours of Sunday.
ladol free trade zone

Lagos free zone operator denies ‘high charges’ imposed on investors

The management of Lagos Deep Offshore Logistics (LADOL) has denied claims that its hostile policies at the Lagos Free Zone were frustrating investors doing business in the area.

China offshore oil coy to invest $3 billion in Nigeria

The China National Offshore Oil Corporation (CNOOC) is to invest an additional three billion dollars in its existing stakes in offshore oil and gas operations in Nigeria.

Crude surges after Trump tears up Iran deal, equities mixed

Oil prices surged more than two percent in Asia on Wednesday after Donald Trump pulled the United States out of the Iran nuclear deal, fuelling fresh geopolitical uncertainty.

Total set to ramp up Nigerian oil output with new ship

A gigantic oil tanker arrived in Nigeria as part of a multi-billion dollar project that should allow one of Africa's biggest crude producers to pump out an additional 200 000 barrels a day.

N5.76trn Total Upstream Nigeria Egina FPSO berths in Nigeria

The Total Upstream Nigeria Limited (TUPNI) $16 billion (N5.76 trillion) Egina Floating Production Storage and Offloading unit (FPSO) project on Wednesday arrived Nigerian shores from South Korea.

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Arsenal striker Alexandre Lacazette said he was flattered by rumoured interest from Barcelona as he added to mounting speculation a transfer away from Emirates Stadium could be in the offing.

At least three European giants interested in signing Arsenal ace

Alexandre Lacazette’s future at Arsenal remains unclear, with the Frenchman possibly set to leave the club in the summer.

Don identifies renewable energy as panacea to curb incessant collapse of national grid

A don, Dr Ovat Oyama, says increased investment in renewable energy will be the panacea to curbing the epileptic power supply caused by incessant collapse of the national grid.
The Federal Road Safety Corps (FRSC) in Niger says 12 people have died in an accident on Sunday at Sawmill village along Mokwa -Makera road in Mokwa Local Government Area of the state.

FRSC alerts motorists on imminent diversion on Lagos 3rd mainland bridge

The Corps Marshal, Federal Road Safety Commission (FRSC), Dr Boboye Oyeyemi, says diversion and safety precaution are imminent, owing to the emergency rehabilitation on the third mainland bridge in Lagos.
Ibrahim Magu . EFCC

Former Ekiti governor wants Ibrahim Magu placed on watch list so he won’t flee

Former Ekiti State Governor, Ayodele Fayose, has asked security agencies in the country to place suspended acting Chairman of the Economic and Financial Crimes Commission, Ibrahim Magu, on watch list.
The Nigerian Defence Academy (NDA) says it has postponed the screening test for its 72 Regular Course schedule to hold on May 30, adding that a new date will be communicated.

NDA reaffirms commitment to turn out best officers

The Nigerian Defence Academy (NDA), Comandant Maj.-Gen. Jamil Sarham, reaffirmed the academy’s commitment to turn out the best officers for the Nigerian Armed Forces.