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Author Archives: admin

NCDMB Began 2023 with Another Accolade Emerging Level 5 Platinum Organisation

The Nigerian Content Development and Monitoring Board (NCDMB) has began the year with another accolade emerging “a Level 5 Platinum Level organization” in a summary report of the Bureau of Public Service Reforms (BPSR) Self-assessment Tool (SAT) released in Yenagoa on Wednesday. According to the Federal Government Bureau, the rating translates as “Exceptional Performance with a performance level of 90.5 ...

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Shell Records $68 Billion on Cash Flow with $40 Billion Adjusted Earnings for 2022 Financial Year

Oil giant Shell PLC has recorded a cash flow of $68 billion with its highest ever full year results of adjusted earnings hitting $40 billion in 2022 financial year. According to the 2022 financial report jointly delivered by the Chief Executive Officer, Wael Sawan and the Chief Financial Officer, Sinead Gorman on Thursday, Gorman said the company recorded strong quarterly ...

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NLNG, LCCI Promote Sustainable Food Security in Nigeria

Nigeria LNG Limited (NLNG), in partnership with the Lagos Chamber of Commerce and Industry (LCCI), on Wednesday presented the joint-winning works of The Nigeria Prize for Science (2022) to industry players in an effort to push agricultural innovations that can positively impact food security in the country. The presentation of the winning works, Gains in Grain Yield of Released Maize ...

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Niger Delta to Benefit from BOI N1 Billion Investment on Renewable Energy

The Bank of Industry has stated that it plans to invest over N1 billion in renewable energy and carbon-free businesses in the Niger Delta region. Speaking during an interview at the Bank of Industry’s SMEs Conference, South-South edition held in Port Harcourt, Executive Director, Corporate Services, Usen Okon Effiong, said the bank, through a loan facility from French Development Bank, ...

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Chevron Annual Profit Hits Record as Q4 Miss Hits Shares

Chevron Corp has posted a record $36.5 billion profit for 2022 that was more than double year-earlier earnings, but the bottom line fell shy of Wall Street estimates, undercut by asset write-downs and rising costs. The second largest U.S. oil producer’s adjusted net profit for 2022 exceeded its previous record set in 2011 by about $10 billion. Still, higher expenses ...

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Power: FG Metered 58 Percent of Consumers in Q4

The distribution of free meters under the National Mass Metering Programme of the Federal Government, dropped by 58 per cent in the first quarter of 2022. Data sourced from the power market regulator showed that in the quarter under review, a total of 29,282 customers were metered under the NMMP, representing a 58 per cent decline from the 69,321 customers ...

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Friesland Campina Reconnects to Ikeja Electric After 22 Years to Optimize Operations

Leading Electricity Distribution Company, Ikeja Electric Plc (IE), has ensured reconnection of Friesland Campina WAPCO Nigeria Plc after over two decades of using alternative source of power. According to the Acting Head of Corporate Communications Ikeja Electric, Kingsley Okotie, the reconnection of Friesland Campina back to the grid was achieved through relentless effort of the Business Optimization team of Ikeja ...

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Technology Can Reduce Emissions by 70 Percent and Engender Healthier Energy Worldwide – Schneider Electric

Digital energy multinational, Schneider Electric, says existing technologies can reduce these emissions by 70 per cent and engineer a healthier energy world for humans across the world. Microgrids Expert, Schneider Electric, Teina Teibowei, spoke with journalists on Schneider’s aim for upscaling the energy world, at an Innovation Summit in Maryland, U.S., a statement said on Friday. The event was attended ...

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Oil Prices Firm On Upbeat U.S. Economic Data

Oil prices rose for a second session on Friday, buoyed by better than expected U.S. economic growth, strong middle distillate refining margins and hopes of a rapid recovery in Chinese demand. Brent futures gained $1.17, or 1.34%, to trade at $88.64 a barrel by 1332 GMT. U.S. crude was up $1.17, or 1.44%, at $82.18 and on track for its ...

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NDPHC Olorunsogo Plant to Add 125 Megawatts to Nigeria’s Grid

Nigeria power capacity will soon increase with an additional 125 megawatts to the national grid with the completion of the Olorunsogo Power Plant by the Niger Delta Power Holding Company (NDPHC) by end of the first quarter (Q1) 2023 findings have shown. The NDPHC is currently revamping the steam turbine of the Olorunsogo power plant, which is located in Ogun ...

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