Oil reversed course and rose on Thursday, after industry sources said Russia had accepted the need to cut production together with OPEC. The price is still set for its biggest monthly fall since the depths of the financial crisis in 2008, having lost more than 22 percent so far in November. A seemingly relentless rise…
The Consumer Protection Council, CPC has condemned arbitrary billing by the electricity distribution companies, DISCOs, urging them to embark on an aggressive metering system to curb estimated billings. Mr. Babatunde Irukere, the Director General of CPC gave the advised in a statement on Wednesday. Irukere, while expressing understanding about challenges in the industry, said DisCos have…
Chevron Nigeria Limited has unveiled plans to deworm 45,000 children in Delta state this year. The General Manager, Policy Government, and Public Affairs, PGPA, disclosed this in Warri, Delta state at a ceremony to flag off the exercise for school children. He said Chevron focused on deworming children because of the effect of worm infestation,…
Eko Electricity Distribution Company, EKEDC, has cried out over the refusal of more than 70, 000 of its customers to recharge their prepaid meters in the last one year. The company’s Chief Executive Officer, Mr. Adeoye Fadeyibi, raised the alarm in a statement on Thursday. According to him, in spite of EKEDC’s effort in ensuring effective…
The management of the Nigerian National Petroleum Corporation, NNPC, has clarified that the corporation has neither 70,000 staff members in its employ nor is it embarking on a staff performance probe. The clarification is sequel to reports in a section of the media to the effect that NNPC has a staff strength of over 70,000…
In December 2017, the Chief Executive of Samsung Heavy Industries, SHI, Park Dae-young resigned from the world third largest shipbuilder. Dae-young threw in the towel following financial losses that cost the company about a third of its market capitalization. The CEO appeared left with no choice as SHI under his watch according to Financial Times,…
There are indications that demand for Liquefied Petroleum Gas (LPG), has increased in Nigeria as the price of the commodity dropped by 5 per cent. A market survey in Lagos and its environs over the weekend showed that 12.5kg which went for N4, 000 in the second week of November, 2018 dropped to N3, 800….
The Nigerian National Petroleum Corporation (NNPC) Wednesday said it would raise the level of current petrol stock from 45 to 50 days, stating that this should provide adequate supply buffer for the country going into the impending Christmas and New Year season. A statement from the Group General Manager Public Affairs of the NNPC, Mr….
At the just concluded 36th international conference and exhibition hosted by the Nigeria Association of Petroleum Explorationists (NAPE), the managing director and chief executive officer of Total exploration and production, Mr. Nicolas Terraz, said the Nigerian oil and gas industry has come a long way with new experiences and competencies and the industry has also…
The Managing Director of the Petroleum Products Marketing Company (PPMC), a subsidiary of the NNPC, Mr. Umar Ajiya says the company has stocked-in products in the nine Inland depots, including Enugu and Aba and will commence selling by 1st December, 2018. The MD said the move was geared towards forestalling frequent shortages being experienced during…
