30/7/2018/Reuters Aaron Sheldrick Oil prices fell on Tuesday, with Brent futures set for their biggest monthly loss in two years, on oversupply concerns after a report showed OPEC’s output in July rose to its highest for 2018. September Brent crude futures fell 46 cents, or 0.6 percent, to $74.51 a barrel by 0356 GMT after…
PRESS RELEASE—-Three suspected vandals, Kabiru Musa, 20; Abubakar Mohammed Umar, 25 and Rayyali Ibrahim 23, have been remanded in Kirikiri Prisons Lagos for damaging and stealing armored cables from a transformer belonging to Ikeja Electric Plc, at NEPA Coop Estate in Ijede, Ikorodu. The trio were arraigned at Agbowa Magistrate Court in Ikorodu following their…
The Edo State Governor, Mr Godwin Obaseki, on Thursday accused the Benin Electricity Distribution Company (BEDC) of frustrating a power deal with Ossiomo Power and Infrastructure Company Limited, to supply electricity to government offices in the state capital. Obaseki who disclosed this at the 4th National Council on Power event, holding in the state, decried…
The Chairman, House of Representatives Ad-hoc Committee investigating alleged constitutional breaches, impunity and other infractions of the Niger Delta Power Holding Company (NDPHC), Hon. Darlington Nwokocha (PDP, Abia), has described the past and present boards and management of the NDPHC as illegally constituted largely because their appointments were never ratified by its shareholders. It was…
“Success is better depicted when solutions are innovatively created and subsequently curated around perennial challenges; thereby enabling collective capturing of value within an ecosystem, that ultimately results in forward momentum for the industry.”_Ude Victor Ude, the Group Chief Executive Officer of VURIN, a leading Nigerian oil and gas services company in this interview with Jerome Onoja,…
Dr Theo Okeke, Executive Director and Chief Technical Officer, Eroton Exploration & Production Company speaks to Orient Energy Review In line with Dr Ibe Kachikwu’s (Minister of State for Petroleum Resources) ambition to up Nigeria’s daily crude oil production by a million barrels, Eroton, through innovative technologies has been able to ramp up its…
Turkey’s president has argued against severing economic ties with Iran as the United States readies for sanctions. Speaking in Ankara, President Recep Tayyip Erdogan said it goes against the independence of states to cut ties with its “neighbor and strategic partner” because the US demands it. President Donald Trump announced in May that he would…
The local and international financial markets, products and services update. NIGERIA: The Debt Management Office has set the maximum limit of $6.25bn (N1.906tn) for the Federal Government’s borrowing in the 2018 fiscal year. The DMO, in the 2017 Report of the Annual National Debt Sustainability Analysis released on Wednesday, said the $6.25bn was proposed to be…
New Delhi: India’s carbon-dioxide emission will rise to 3.8-3.9 gigatonnes by 2030 not 3.8-4.9 gigatonnes as was projected earlier, which is consistent with the Nationally Determined Contributions (NDC) pledge made at the 2015 Paris summit, according to a study by an Indian think-tank. According to the study by the Centre for Policy Research, even if emissions…
China National Petroleum Corp (CNPC) says it will spend more than 150 billion yuan ($22 billion) by 2020 to boost oil and gas output in the western region of Xinjiang, to offset falling output from ageing fields in northeast China. The increased spending will push output in the Xinjiang Autonomous Region to more than 50…
