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OIL-PIX
10 Feb 2015
Nigeria’s output increases by 44,400bpd THE Organization of Petroleum Exporting Countries (OPEC) produced 30.15 million barrels per day in January, representing a decrease of 53,000 bpd from the previous month.   These declines were mainly due to Iraq and Libya, with Angola, Saudi Arabia, Kuwait and the United Arab Emirates all increasing supply.   Interestingly,…
Transformer--
10 Feb 2015
IT will definitely no longer be business as usual for the promoters of fake and sub-standard electricity equipment in the country as the Federal Government took a bold step to curtail the menace in the sector.  The Minister of State for Power, Mohammed Wakil, made this known at the official launching of a re-modeled National…
10 Feb 2015
FOR a long time now, Nigerians have been yearning for improved power supply.    While efforts are being made by subsistent governments to meet this all important demand, one of the major snags to power supply has been the uncomplimentary activities of vandals across the country.      For instance, the Minister of Power, Prof.…
crude-oil-price-jan-5
10 Feb 2015
JAPAN, a country that has helped strategically in the development of rural Nigeria especially, since 1998, has again started a new wave of development in the rural communities through the provision of solar electricity in the rural communities. The project, which grant aggrement was signed in the nation’s capital on Monday, will commence with the…
10 Feb 2015
THERE are strong indications that full oil production activities will soon resume in Ogoni land after being shut down for over 22 years following the mass protest by the people and civil disturbance in the area occasioned by the total neglect and injustice on the people by the Nigerian government and the Shell Petroleum Development…
10 Feb 2015
IN a bid to fully meter and adequately evaluate the consumption of all electricity consumers in the country, the Federal Government has been urged to liberate the electricity meter market and create a conducive business environment for the indigenous meter manufacturers to thrive.    The Executive Secretary, Meter Manufacturers Association (EMMA), Muyideen Ibrahim, in a…
4 Feb 2015
Mrs. Diezani Alison-Madueke is Nigeria’s Minister of Petroleum Resources.  She was recently elected President of Organisation of Petroleum Exporting Countries (OPEC) and Gas Exporting Countries’ Forum.  In this interview with Kingsley Osadolor on Good Morning Nigeria on the Nigerian Television Authority (NTA), she spoke about the plummeting crude oil prices, OPEC’s decision not to cut…
Refinery
3 Feb 2015
THE plummeting crude oil prices are hitting hard on the profits of big International Oil Companies (IOCs). For example, Cheveron, ConocoPhilips, Shell and Exxon Mobil posted disappointing earnings in their fourth quarter report for 2014 as a result of the declining crude oil prices. The price of Organisation of Petroleum Exporting Countries (OPEC) basket of…
3 Feb 2015
Awards $100,000 as Prize for Literature THE Nigerian LNG Limited has been adjudged  one of the highest tax paying companies in Africa.   Besides, the company has presented Prof Sam Ukala with an award of the $100,000 Nigeria Prize for Literature.   The Managing Director of the company, Babs Omotowa, said that the company has…
3 Feb 2015
EXPERTS in the oil and gas industry have asked the Federal Government to come out with creative strategies to solve   the challenges   of power generation, transmission and distribution currently facing the country.   To this end, they urged government to create industrial power generation parks, where gas supply and power evaluation grids can easily…
3 Feb 2015
APPARENTLY irked by the dwindling crude oil prices, Chevron Corporation has slashed its yearly budget for capital and exploratory investment programmes in 2015 to about $35.0 billion.    Indeed, the budget, which included about $4.0 billion of planned expenditures by affiliates, which do not require cash outlays by Chevron, was 13 per cent lower than…
3 Feb 2015
THE need for the quick passage of the Petroleum Industry Bill (PIB) was brought to the fore again last week when stakeholders in the oil and gas industry gathered to discuss the impact of plummeting crude oil prices on the economy.   Specifically, the stakeholders believe that quick passage of the industry will assist in…

Latest

5 mins ago
President Muhammadu Buhari has hailed Nigerian youths excelling at home and abroad, saying the country will welcome inputs and investments from compatriots with international exposure for the economy to thrive. The president spoke at a town hall meeting with Nigerians in the Diaspora on the margins of the 26th Commonwealth Heads of Government Meeting (CHOGM)…
11 mins ago
As conservative US states rush to enact abortion bans following the Supreme Court's bombshell decision, the fight over reproductive rights in America is poised to shift to a new battleground: abortion-inducing pills. With little other means at its disposal, the Biden administration will focus on expanding access to abortion pills for women living in states…
1 hour ago
Every year on June 26, the United Nations (UN) observes International Day Against Drug Abuse and Illicit Trafficking with the aim of  attracting global attention to the dangers that illegal and misuse of substances pose to society. Globally, about 200 million individuals use illegal substances like cocaine, cannabis, hallucinogens, opiates, and sedative-hypnotics, according to the…
3 hours ago
With President Muhammadu Buhari’s administration inching to its twilight, a major assessment of its economic performance came last week in the form of the World Bank Nigeria Development Update...
3 hours ago
Angered by the alleged threat to the life of the presidential candidate of the Labour Party (LP), Mr. Peter Obi, by those it called Fulani Jihadists, the Coalition of South East Youth Leaders (COSEYL),