Shell Nigeria Gas and the Oyo State Government have signed an agreement to develop a gas supply and distribution infrastructure that will deliver gas to industrial and commercial users in the state. A statement released on Friday by Shell Nigeria’s Media Relations Manager, Abimbola Essien-Nelson, disclosed that SNG will build and operate the gas distribution network which will serve customers ...

……..By Ben Ndubuwa…….. The Nigeria Electricity Regulatory Commission (NERC) splits the Transmission Company of Nigeria (TCN) into two and orders the creation of a new firm.  This new private company will be known as Nigerian Independent System Operator of Nigeria Limited (“NISO”). According to NERC this new company should be established at the end of this month. “BPE shall incorporate, ...

The NNPC Exploration and Production Ltd/Seplat Energy Joint Venture and the Edo State Government have signed an agreement that will see the state government allocate 6,000 hectares of land from its protected forest reserves to enable a large-scale tree planting initiative by Seplat Energy Plc. This is in furtherance to the Seplat Tree4Life Initiative and the Edo State Government’s identification ...

Oil giant Shell has beaten analyst forecasts with earnings of $7.7bn in first quarter of 2024, as the top financial boss asks shareholder support for the oil giant’s reduced climate targets. Adjusted earnings had been expected in the region of $6.46bn, but the oil giant’s strong oil trading and higher refining margins. The firm plans to spend $3.5bn in share ...

Minister of State Petroleum Resources (Gas), Rt. Hon. Ekperikpe Ekpo, today visited the site of the gas explosion at Ita Oshin in Abeokuta, Ogun State, where there was a loss of life and destruction of property, as a truck conveying CNG, which experienced brake failure, crashed into the road barricade and the truck head went up in flames. On the ...

Nigerias leading electricity distribution company, Ikeja Electric Plc (IE), has reiterated its commitment to accelerated network upgrades aimed at providing efficient service delivery to her customers. This assurance was made in a statement issued by the companys Head of Corporate Communications, Mr. Kingsley Okotie to commemorate the International Workers Day celebration in appreciation of the commitment and resilience of the ...

L-R: Idowu Thompson, Group Executive, Private Banking and Wealth Management, FirstBank receiving the Best Private Bank award trophy from Joseph Giarraputo, Founder and Editorial Director, Global Finance Magazine during a networking session at the dinner and award ceremony of the Global Finance ninth annual World’s Best Private Banks Awards for 2024 held recently in New York, USA. FirstBank of Nigeria ...

… Firm declares N4.5bn Dividend for 2023….. The Nigerian Content Development and Monitoring Board (NCDMB) announced on Monday that it had received an interim dividend payment of N450 million out theN1.5bn declared by the Waltersmith Refinery and Petrochemical Company Limited. This payment represents NCDMB’s 30% share in the company for the year ended 2023. The NCDMB had in July 2018 ...

………..frown at speculations of price increase…….…….by Ben Ndubuwa…..The Major Energies Marketers Association of Nigeria (MEMAN) has Said that it deeply empathizes with Nigerians facing the challenges occasioned by the current non availability of Premium MotorSpirit (PMS) and the resulting queues at many retail outlets expressing dissatisfaction over the frustration and difficulties this situation has created.. MEMAN said that they are ...

The Nigerian Upstream Petroleum Regulatory Commission, NUPRC, yesterday, disclosed that it has commenced the process for the 2024 oil bid round with 12 oil blocks on offer and seven deep offshore blocks from last year’s bid round. The Commission Chief Executive, Engr. Gbenga Komolafe who disclosed this at the inaugural NEITI House Dialogue in Abuja, said the process will be ...