The Nigerian Civil Aviation Authority (NCAA) has declared that the former domestic carrier, Chanchangi Airlines, no longer has operational Air Operators’ Certificate (AOC). This is as the regulatory body said there is no controversy about the status of the airline, as its operations remain grounded. A statement by the General Manager, NCAA Public Affairs, Sam […]
–The scheme allows Nigerians to buy android phones and ‘Pay Small-Small’ By Foster Obi Foremost telecommunications company MTN Nigeria has partnered with PayJoy, a Silicon Valley-based technology company, Sub-Saharan Africa’s biggest mobile devices distributor, TD Mobile and Sterling Bank to unveil a revolutionary, technology-driven device financing scheme which will enable Nigerians from all walks of […]
A consortium led by Vitol and comprising Africa Oil Corp (‘Africa Oil’) (25%), Delonex Energy Ltd. (‘Delonex’) (25%) and Vitol Investment Partnership II Ltd. (‘Vitol’) (50%), (collectively, the ‘Consortium’), has announced that it has entered into a Share Purchase Agreement (‘SPA’) to acquire a 50% ownership interest in Petrobras Oil and Gas B.V. for US$1.407 […]
Exxon Mobil Corp. needs to regain investor confidence after a couple of shaky quarterly results, but many doubt the third quarter would mark a turnaround for the company and its shares. Exxon XOM, +0.24% is slated to report third-quarter results before the bell on Friday. Wall Street on average rates the stock a hold, with […]
Shell on Thursday said reduced maintenance would boost its upstream oil and gas production in the current quarter both against year-ago levels and the third quarter 2018, after some slippage in the third quarter. In a results statement Shell said its overall oil and gas output had fallen by 2% on the year in Q3 […]
Nigeria’s state oil firm NNPC said it had signed a crude-for-product swap deal with oil major BP. In its brief statement on Twitter late on Wednesday, NNPC said more details would be provided later. BP and NNPC did not immediately respond to requests for comment on Thursday. NNPC imports about 70 percent of Nigeria’s fuel […]
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 […]
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 […]