CHINESE crude oil importation from Nigeria may soon bounce back, following the latest promise by the Chinese government to increase importation from Nigeria after a sharp drop recently.   China’s Deputy Chief of Mission in Nigeria, Mr. Zhang Bin, who was in Nigeria on a trade mission said the Chinese government is looking forward to…

IN compliance with the new pump price of Premium Motor Spirit (PMS) announced by the Federal Government, Techno Oil Limited has commenced swift monitoring its depots and filling stations across the country to checkmate sharp practices in the system.    The oil-marketing firm, confirmed in a statement yesterday that the company has set up a…

NO doubt, the sudden crash of crude oil prices at the international markets is taking its toll on various economies world over, as initiators of major oil and gas projects are finding it very difficult to forge ahead with their respective original plans.   The global crash in crude oil prices is reverberating through the…

HOPE of reviving the multi-billion dollar Brass Liquefied Natural Gas (LNG) project was raised recently, as the shareholders constitute new pre-Front End Engineering Design (FEED) team and adopted a new technology, (APCL) to spur the implementation of the project.      The project almost hit the rock recently with the exit ConocoPhillips, which held 17…

Walid Sheta as the new Country President of Schneider Electric Nigeria. He has over 18 years work experience within the Schneider Electric group, serving in various top management capacities. Walid took over from Marcel Hochet who has served as Country President for the past 10 years.  He spoke with journalists recently on the company’s plan…

… Mulls strategic gas supply from oil firms  IT was a cheering news for electricity consumers at the weekend, when the Chairman of Egbin Power Plc, Kola Adesina, declared that the nation’s largest power plant has reached its full capacity of 1320 Mega Watts (MW).   The power plant, located in the outskirt of Ikorodu,…

ELECTRICITY Management Services Limited (EMSL) has endorsed the products, processes and manufacturing facilities of MOMAS Electric Meters Manufacturing Company Limited (MEMMCOL).   EMSL one of the successor organisations of the former Power Holding Company of Nigeria, charged with the sustained technical inspection, testing and certification of all electrical equipment, power systems and electrical Installations in…

THE Federal Government has explained how it has been able to raise generating capacity to over 4500mw within four years.   Minister of Power, Prof. Chinedu Nebo, stated that Nigerians would have enjoyed much more stable power supply, if the activities of vandals blowing up pipelines had not increased in recent times.   The minister…

APPARENTLY thrown into grief moment by the demise of its Chairman, Techno Oil Limited has applauded the indelible footprint of Late Dr. John Nnadi, to the rising profile of the indigenous company.   The Executive Vice-Chairman of Techno Oil, Mrs. Nkechi Obi, in a statement mave available to The Guardian, described Nnadi as a father…

THE announcement by the Federal Government to reduce the price of a litre of fuel from N97 to N87 was not unexpected as many countries around the world have taken advantage of the decline in crude oil prices to cut their pump prices.   The United States of America, which has within a very short…

THE Nigerian National Petroleum Corporation (NNPC) has initiated a new scheme to ensure smooth distribution of Dual Purpose Kerosene (DPK) across the country.    The Group General Manager, Group Public Affairs Division, Ohi Alegbe, in a stamen made available to The Guardian recently, said the ‘Kero Correct’ initiative would cut-off the several layers of middlemen…

BARELY 55 years ago, five oil-producing developing countries including Iran, Iraq, Kuwait, Saudi Arabia and Venezuela, gathered in the Iraqi capital Baghdad to form the Organization of the Petroleum Exporting Countries (OPEC).    That meeting was a momentous as it was held at a time when the oil market was dominated by the established industrialized…