Oil prices fell slightly on Friday but were still set for a third straight weekly gain after easing U.S.-China trade tensions lifted business confidence and the outlook for global economic growth. Brent LCOc1 was down 7 cents at 66.47 dollars a barrel by 0954 GMT, equivalent to a weekly rise of around 2 per cent….
Royal Dutch Shell said on Friday it expects to write down up to 2.3 billion dollars in the fourth quarter, the latest major energy company forced to shrink estimates for sector values, due to a weaker economic outlook. In a trading update ahead of full year results, Shell also said it expected weaker margins in…
Airtel Nigeria says it has partnered with the Lagos State Government to host one of the biggest End of Year Festivals dubbed the “Greater 2020”. Its Chief Executive Officer, Segun Ogunsanya, said in a statement on Friday that the carnival would hold in five locations in Lagos. “The carnival will feature some of the biggest Nigerian…
The Minister of Power, Mr Sale Mamman, on Thursday inaugurated a Ministerial Task Force on Power which will serve as an advisory team on policies and innovative technology in the sector. The 22 member Task Force has Prof. Abubakar Sambo as Chairman, Mr Lateef Ogunleye as Vice Chairman and Chief Executive, while Mr Haruna Ladan,…
Asks interim management to stay until after forensic audit Deji Elumoye and Omololu Ogunmade in Abuja President Muhammadu Buhari thursday ordered the reconstitution of the Board of the Niger Delta Development Commission (NDDC), effectively sacking the new board led by Pius Odubu, which has since been cleared by the Senate. The president also ordered a…
The Department of Petroleum Resources has visited filling stations close to the Mfum border in Etung local government area of Cross River with a view to ensure compliance to closure order. This is part of the directives by the Federal Government that all filling stations operating within 20 kilometres to the border and interland should…
President Muhammadu Buhari has felicitated with oil and gas industry investor, Chief Leemon Ikpea, as he turns 63 on December 19, 2018. The president’s congratulatory message is communicated through a statement by Mr Femi Adesina, the president’s Special Adviser on Media and Publicity, in Abuja on Wednesday. The president applauded the dint of hard work…
The Department of Petroleum Resources (DPR) on Wednesday sealed off four Liquefied Petroleum Gas (LPG) plants, over non-compliance and illegal operations in Lagos. Officers of the Nigeria Security and Civil Defence Corps (NSCDC), which collaborated with the DPR in the exercise, also arrested three employees of the sealed LPG — also known as cooking gas…
The Chief Executive Officer, Eko Electricity Distribution Company (EKEDC), Mr Adeoye Fadeyibi was on Wednesday conferred with a fellowship award by the Nigerian Institution of Mechanical Engineers (NIMECH). Mr Godwin Idemudia, the General Manager, Corporate Communication Unit, EKEDC, in a statement said Fadebiyi received the award during the flag-off ceremony of ‘Forging Africa’s Future Mechanical…
The Abeokuta Field Office of the Department of Petroleum Resources (DPR) has warned petroleum marketers in Ogun against engaging in sharp practices before, during and after the Yuletide. The Operations Controller, Mrs Muinat Bello-Zagi, gave the warning on Wednesday at a stakeholders’ meeting in Abeokuta. Bello-Zagi said that DPR officials would go round the state…
