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Author Archives: admin

Stanbic IBTC supports businesses with bouquet of solutions

Nigeria’s leading financial institution, Stanbic IBTC Holdings PLC, has highlighted its array of solutions to support businesses in the country to make the most of 2021. The solutions on offer are geared towards providing access to flexible funding for small, medium and large-scale enterprises thereby addressing inadequate access to capital, exposure to international markets and inherent challenges plaguing local and ...

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NNPC Restates Commitment to OPEC+ Agreement

…To Focus More on Gas, Condensates for Revenue Growth….. The Nigerian National Petroleum Corporation (NNPC) has reiterated its commitment to abide by the output cut agreement of the Organization of the Petroleum Exporting Countries (OPEC) and its allies aimed at stabilizing the global oil market. The Group Managing Director of NNPC, Mallam Mele Kyari, stated this Wednesday while speaking at ...

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Lawan Guarantees Passage of Petroleum Industry Bill

President of the Senate, Dr Ahmad Lawan, yesterday committed the National Assembly to an expeditious passage of the long-delayed Petroleum Industry Bill (PIB). Lawan, at a programme in Abuja to mark his 62nd birthday, assured Nigerians that the passage of the PIB will form the priority of the National Assembly when it resumes plenary on January 26. He also rallied ...

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Gulf of Guinea Increasing Maritime Battleground Over Oil Wealth – Expert

Maritime Experts have expressed concern over the Gulf of Guinea increasing becoming the world’s most dangerous maritime zone in 2020 — as attacks on oil tankers by pirates have risen exponentially. Maritime piracy emerged with the first armed insurgency movements against the federal government of Nigeria and oil companies in the Niger Delta — following the example of the Movement ...

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Crude Rises above $56 on Tight Supply as FG Weighs Pump Price of PMS

…….by Jenifer Dike…….. The price of crude rose above $56 per barrel on Tuesday, buoyed by Saudi Arabia’s plans to limit supply, even as Federal government weighs increase in pump price of Premium Motor Spirit (PMS) otherwise know as petrol,. And as it’s pump price is benchmarked with international crude oil price. The rise in crude price again is not ...

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Shell Resumes Gas Shipments from World’s Largest Floating Structure

Royal Dutch Shell has resumed shipping gas cargoes from the largest floating structure ever built following a year-long technical disruption that has damped industry appetite for floating LNG technology. The restart of the huge Prelude facility — which at 488 metres is longer than four football fields — is a welcome boost for Shell as it coincides with a record ...

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Bonnylight Energy Stimulates Petroleum Market With 20,000 Mt AGO

BonnyLight Energy and Offshore Limited, a wholly indigenous petroleum downstream and an emerging player in product storage, marketing and distribution of petroleum products and other related services have announced the supply of 20,000.00 MT of Premium Automotive Gas Oil (popularly known as diesel) into the Nigerian market. The product lifted from Amsterdam, Netherland is poised to wet the company’s tank ...

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EEDC Invests N1.6 Billion on Network Expansion Projects

The Enugu Electricity Distribution Company (EEDC) says it will spend N1.6 billion on 30 electricity network expansion projects within the South-East. This was revealed by Head of Corporate Communications, EEDC, Mr Emeka Ezeh, in a statement in Enugu. Ezeh said that the huge investment covered network expansion projects earmarked for 2020 and 2021. He said that the historic huge investment ...

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Electricity Consumers Paid N362bn in Nine Months – Discos

Electricity consumers paid N362bn out of the N520bn billed them by the distribution companies in the country from January to September last year, a new report by the Discos has shown. The Association of Nigerian Electricity Distributors, the umbrella body for the 10 private Discos in the country, said the power firms lost N158bn, representing 30.38 per cent of the ...

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