The Economic Recovery and Growth Plan (ERGP) focus Labs set up by the Federal Government is expected to boost power generation in Aba and other parts of the country. Geometeric Power Limited, a major player in the nation’s power sector and a host of other participants attended the Economic Recovery and Growth Plan (ERGP) focus […]
Radisson Hospitality will invest in ten new hotels across Africa, the company said on Tuesday, the latest hotel group eyeing expansion on an underdeveloped continent. Global hotel chains, including Marriott International and Hyatt Hotels, have been increasing their investments in Africa, which has some of the world’s fastest growing economies and a rising middle class.“We […]
Shipments of West African oil to Asia are set to hit a two-month high in October as Chinese refineries scramble for alternatives to Iranian crude before U.S. sanctions take effect on Nov. 4. Loadings for Asia will rise to 2.52 million barrels per day (bpd) in October, equivalent to 75 percent of total output from […]
The petroleum products leakages in the sprawling Baruwa community of Lagos state coming from a long stretch of pipeline operated by the Nigerian National Petroleum Corporation, NNPC, is providing a conduit pipe for fallacious contracts awards from various government agencies. While the community with estimated population of about 765,000 people is experiencing untold hardship orchestrated […]
President, Nigerian Gas Association (NGA) Mr Dada Thomas, said the government and operators recognised that the first step towards attracting huge gas investments was to provide a legal and regulatory framework that would enable the removal of all the other obstacles. “As we all know, the passed gas policy proposes reforms are so profound that […]
The Nigerian National Petroleum Corporation (NNPC) has announced a trading surplus of N18.12bn for May 2018, a performance which is relatively higher than the trading surplus of N17.16bn recorded in April. Details of the transactions contained in the recently released May 2018 edition of the Monthly NNPC Financial and Operations Reports also indicated that the […]
OPEC delivered only a limited increase in oil production in September, a Reuters survey has found, as a cut in Iranian shipments due to U.S. sanctions offset higher output in Libya, Saudi Arabia and Angola. The 15-member Organization of the Petroleum Exporting Countries pumped 32.85 million barrels per day in September, the survey on Monday […]
US drug maker Pfizer on Monday announced that chief executive Ian Read is stepping down, handing off to chief operating officer Albert Bourla on January 1. Read, a Scottish-American replaced Jeffrey Kindler in December 2010. In future, the 65 year-old chemical engineer and chartered accountant will serve as executive chairman of Pfizer’s board of directors, […]
International business leader and founder of Aiteo Group, Benedict Peters, has emerged ‘Africa’s Oil and Gas Leader of the Year’ at Forbes’ Best of Africa Gala held at Forbes Headquarters, New York, United States. Benedict. The award acknowledged Peters’ significant contribution to oil and gas development in Africa by visionary leadership, distinguished service and transformational […]
European Union nations may boast the world’s most stringent anti-money laundering rules, but recent scandals show that money launderers are good at exploiting the bloc’s Achilles’ heel: A patent lack of coordination. “There are problems relating to coordination at various levels: at the national level, between prudential and anti-money laundering institutions, and between states and […]