The Federal Executive Council (FEC) on Wednesday approved the National Leather and Leather Product Policy aimed at locally harnessing leather resources into finished products. The Minister of Science and Technology, Dr Ogbonnaya Onu, made this known while briefing State House correspondents after the FEC meeting presided over by President Muhammadu Buhari at the Presidential Villa, […]
OPEC and non-OPEC oil producers hope to sign a new cooperation agreement in December to set a production limit for the next year, Saudi Arabia’s Energy Minister Khalid al-Falih said on Wednesday, Russian state news agency RIA reported. The current output cap deal between OPEC and some non-OPEC oil producers expires at the end of […]
The Nigeria Labour Congress (NLC) has rejected the N22,500 proposed by the state governors as the New National Minimum Wage for workers in the country.Mr Ayuba Wabba, NLC president, said this while briefing newsmen on Wednesday in Abuja. The News Agency of Nigeria (NAN) reports that the Nigeria Governors Forum (NGF) had issued a communiqué […]
Savannah Petroleum, the British independent oil and gas company focused around oil and gas activities in Niger and Nigeria, has announced an update on the Seven Energy Transaction. Further to the Company’s announcement on 20 September 2018 regarding the gas for oil swap with Frontier Oil and the buy-out of minority shareholders in Universal Energy […]
Crude oil futures headed higher for the first time in the European morning session this week as the US sanctions on Iran draw closer, but risks to global growth economic continue to loom over potential gains. At 1055 GMT, December ICE Brent crude futures were up 39 cents from Tuesday’s settle at $76.30/b, while the […]
OPEC has boosted oil production in October to the highest since 2016, a Reuters survey found, as higher output led by the United Arab Emirates and Libya more than offset a cut in Iranian shipments due to U.S. sanctions. The 15-member Organization of the Petroleum Exporting Countries has pumped 33.31 million barrels per day this […]
By Foster Obi For its strict adherence to high safety policy and commitment to safety of life, Ikeja Electric Plc (IE), Nigeria’s leading Electricity Distribution Company has been honoured with the 2018WSO-NG Concerned Organization of the Year. The award, which was presented by the World Safety Organizations (WSO), an International Association of HSE Professionals, is […]
Crude oil futures continued to fall in European morning trading Tuesday, with upside capped by the promise of a further escalation of the US-China trade war, but the primary focus remains the impending US sanctions on Iran. At 1035 GMT, December ICE Brent crude futures were down 74 cents/b from Monday’s settle at $76.60/b, while […]
The recent drop in oil prices by around $10/b is a welcome change and gives breathing room to oil consumers, but the market is not out of the woods yet and the coming months will be very challenging, Fatih Birol, executive director of the International Energy Agency, said Tuesday. In Asian trading hours, December ICE […]
By Success Okezie Vice-chairman, Dry Cargo Unit of Nigeria Association of Road Transport Owners (NARTO), Lagos State branch, Alhaji Abdullahi Mohammed Inuwa has said that the reason why Lagos port access road gridlock has subsisted is because the Nigeria Ports Authority (NPA) and Nigeria Shippers Council (NSC) lacks the political will and power to mandate […]