A probe by the Nigerian Senate into whether state oil firm NNPC improperly withdrew money has expanded with the amount under investigation doubling to over $2.2 billion, a committee said on Wednesday. The Senate last week voted to probe withdrawals of $1.05 billion by Nigerian National Petroleum Corporation (NNPC), from NLNG, a venture owned by […]
General Electric said on Thursday it has handed over the leadership of a consortium chosen to run a Nigerian rail concession to South Africa’s Transnet after the U.S. company spun off its transport business. “GE will be transitioning leadership of the International Consortium, selected to execute the Nigerian narrow-gauge railway concession, to Transnet,” GE said […]
Lagos state has informed schools that no student should be discriminated against on the basis of religionImage caption: Lagos state has informed schools that no student should be discriminated against on the basis of religion. Girls in the Nigerian state of Lagos are now allowed to wear a hijab to school, the authorities have said. […]
Africa’s rapidly expanding cities face huge threats from climate change over the next 30 years, which could bring knock-on effects such as higher crime rates and civil unrest, risk analysts said on Wednesday.Researchers at UK-based Verisk Maplecroft found 84 of the world’s 100 fastest-growing cities are at “extreme risk” from the impacts of a warming […]
India’s oil imports from Africa in October rose to their highest level since August 2015, after a fall in Brent’s premium to Dubai swaps made African crude more attractive, tanker arrival data from industry sources showed. India’s overall imports in October rose 14.1 percent from a year earlier to 4.7 million barrels per day (bpd) […]
The Eastern Naval Command of the Nigerian Navy said it would on Thursday commence “Ani-Oforifori” exercise in Niger Delta creeks to rid the area of bad elements “Ani-Oforifori” means “Chase Thief’’ in Kalabari language in Rivers. The command announced this in a statement by its Information Officer, Commander Thomas Otuji, on Wednesday in Calabar. According […]
It is certainly not cheering news for oil exporters such as Nigeria as Brent crude oil prices extended a steep slide on Wednesday on the back of worries about weakening world demand and oversupply. Brent crude, the type that Nigeria majorly exports was down 0.35 percent at $65.24 per barrel. Brent crude price had tanked […]
By Foster Obi The managing director of the Nigerian Ports Authority(NPA) HadizaBala Usman, today received the ambassador of theUnited Arab Emirates (UAE) in Nigeria, Fahad Al Tafaq who came on a courtesy visit to the Lagos head office of the organisation. In the pix, HadizaBala Usman (left) presents a plaque to Fahad Al Tafaq(right), at […]
Chevron Corp. and Exxon Mobil Corp. are among the companies considering first-round bids this month for closely held oil producer Endeavor Energy Resources LP, according to people with knowledge of the matter. The two oil majors may be joined by ConocoPhillips in competing for the business, which could be valued at about $15 billion including […]
Nigeria will increase its oil production to 1.8 million barrels per day in 2019 and raise condensate production to 0.5 million bpd, the managing director of Nigerian state oil firm NNPC said on Tuesday. Nigeria currently produces 1.6 million bpd of oil and 0.4 million bpd of condensate, Maikanti Baru told Reuters. He added that […]