Africa Oil has disclosed receiving a dividend from Prime Oil and Gas Cooperatief UA from its 50% shareholding in Prime. Prime has distributed a $200 million dividend with a net payment to Africa Oil of $100 million related to its shareholding. Since acquiring its…
The Federal Government says while oil prices are on the rise, Nigeria is not reaping the full benefits of the current windfall because of years of neglect of the oil industry. The Minister of Information and Culture, Alhaji Lai Mohammed,…
The Federal Government on Tuesday inaugurated unit one turbine out of the four units turbines of the 700 Megawatts (MW) Zungeru hydro-electric power project in Wushishi area of Niger. Mr Goddy Agba, Minister of State for Power, disclosed this in…
A FITCH Ratings has predicted that Nigeria’s foreign exchange reserves would increase to $43 billion in 2022, as opposed the previous $40.5 billion witnessed at end-2021. The company also affirmed Nigeria’s Long-Term Foreign-Currency Issuer Default Rating (LTFC IDR) at ‘B’…
A Non-Governmental Organisation, under the aegis of the Ogoni Liberation Initiative, on Sunday, urged the Federal Government to approve licenses for modular refineries, so as to reduce unemployment. Mr Douglas Fabeke, the President of the group, disclosed this in a…
The Nigerian National Petroleum Company Ltd. (NNPC) has said there was over 1.6 billion litres of Premium Motor Spirit (PMS) available for nationwide distribution. Malam Mele Kyari, NNPC Group Managing Director, made this known at the official unveiling of the…
The Federal Government has urged the European Union (EU), to step up investments in gas and hydrocarbon in Nigeria to be able to meet the bloc’s energy needs. The call is coming on the heels of the festering war between…
The Federal Government has structured a meeting for $1billion investment for 1000MW of Solar stalled since 2016. According to the report, federal government is expected to see the results by 2023. The Special Adviser to President of Nigeria on Infrastructure, …
The Federal Government has said it is determined to stop the economic devastation occasioned by the activities of illegal refiners, pipeline vandalism and crude oil theft in the country. The Minister of State Petroleum Resources, Timipre Sylva, said this yesterday…
The Force Commander, Joint Task Force (JTF), South-South, Operation Delta Safe,Rear Admiral Aminu Hassan has said that the fight against oil theft would continue until the criminals surrendered. Hassan said this while giving situation report of its operation to curb…
