TAG: OIL AND GAS NEWS

All the major economic news from Nigeria in 5 minutes – 6/7/2017

All the major economic news from Nigeria in 5 minutes – 6/7/2017

Summary of the top business, economic and political news in Nigeria today.   Electricity supply, yesterday, dropped to 3,628 megawatts, mw from 3,808mw on...


All the major economic news from Nigeria in 5 minutes – 5/7/2017

All the major economic news from Nigeria in 5 minutes – 5/7/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Government is hiring the United States technology giants such...


Dr. Kachukwu drops a shocker about Nigeria’s oil and gas reserves 

Dr. Kachukwu drops a shocker about Nigeria’s oil and gas reserves 

At an industry event held recently in Abuja, Minister of State for petroleum,  Dr. Ibe Kachukwu stated three reasons why Nigeria needs to redouble...



All the major economic news from Nigeria in 5 minutes – 27/6/2017

All the major economic news from Nigeria in 5 minutes – 27/6/2017

Summary of the top business, economic and political news in Nigeria today.   The Federal Government is seeking a loan of $5bn from the...


Akwa Ibom has taken Total Upstream to court over unpaid taxes

Akwa Ibom has taken Total Upstream to court over unpaid taxes

In yet another example of why Nigeria is a difficult place to do business, the Akwa Ibom state government through its Internal Revenue Service...


Petralon deal confirms Julius Berger diversifying going into oil and gas industry

Petralon deal confirms Julius Berger diversifying going into oil and gas industry

In a notice sent yesterday to the Nigerian Stock Exchange (NSE), Julius Berger stated its intention of going into partnership with Petralon energy an...


An Appeal Court has ordered Shell to pay N122 billion in oil spill damages

An Appeal Court has ordered Shell to pay N122 billion in oil spill damages

Will SPDC...


Why Forte Oil wants to raise N20 billion from the equity market

Why Forte Oil wants to raise N20 billion from the equity market

One of the top 5 major petroleum marketers, Forte oil has unveiled plans to raise N20 billion in equity from the stock market. While...


30% of Nigeria’s forex was spent on fuel importation in 2016

30% of Nigeria’s forex was spent on fuel importation in 2016

The Central Bank of Nigeria (CBN) spent 30% of the country’s​ foreign exchange earnings on importing petroleum products in 2016. Minister of state for...


5 quotes that explains why Nigeria’s LNG market share is under threat

5 quotes that explains why Nigeria’s LNG market share is under threat

Still the Giant of...


Nigerian Stock Market Gainers and Losers  (7/06/2017)

Nigerian Stock Market Gainers and Losers (7/06/2017)

All share index rose by 1.88% as trading closed on a positive...


On PIGB, Kachukwu says bill is “impressive”

On PIGB, Kachukwu says bill is “impressive”

The Minister for State for Petroleum, Dr Ibe Kachikwu has tweeted his support for the recently passed Petroluem Industry and Governance Bill. In a...


It’s bulls galore as NIPCO launches MTO for Mobil Nigeria

It’s bulls galore as NIPCO launches MTO for Mobil Nigeria

Independent petroleum marketer, NIPCO Plc has opened its Mandatory Takeover (MTO) for minority shares in Mobil Nigeria Plc. NIPCO, had in April this year,...


Finally, Forcados is back…the nuggets

Finally, Forcados is back…the nuggets

Nigeria’s major oil export platform Forcados Oil terminal issued its first loading plan since the it was shut down for maintenance in 2016. Reports...


All the major economic news from Nigeria in 5 minutes – 2/6/2017

All the major economic news from Nigeria in 5 minutes – 2/6/2017

Summary of the top business, economic and political news in Nigeria today   The Manufacturing Purchasing Managers’ Index (PMI) stood at 52.5 index points...


After a blistering 67% increase in profit, ‘Mobil Plc’ lays out plans for new future

After a blistering 67% increase in profit, ‘Mobil Plc’ lays out plans for new future

Good times to be a Mobil...


[The Nigerian Economy Today 30/5/2017]- Finally, Shell Petroleum commences loading of crude oil from Trans-Forcados pipeline

[The Nigerian Economy Today 30/5/2017]- Finally, Shell Petroleum commences loading of crude oil from Trans-Forcados pipeline

Summary of the top business, economic & political news in Nigeria.   President Muhammadu Buhari’s approval of the withdrawal of Oil Prospecting Licences 2001,...


Here’s where foreign investors put their money into in the first quarter of 2017

Here’s where foreign investors put their money into in the first quarter of 2017

The National Bureau of Statistics last week released its 2017 first quarter capital importation report revealing Nigeria attracted just $908 million from foreign investors...


#PMBMidterm: Bucket list of all the ‘economic achievements’ of the Buhari administration

#PMBMidterm: Bucket list of all the ‘economic achievements’ of the Buhari administration

The presidency yesterday, released its mid-term factscheet just in time for the May 29 Democracy day celebrations. The factsheet was organised into three categories, economy,...


Deal: OPEC extends oil cuts for another 9 months

Deal: OPEC extends oil cuts for another 9 months

The Organisation of Petroleum Exporting Countries, OPEC, has agreed on Thursday, to  extend cuts in oil output by nine months to March 2018. Reuters...


Okomu Oil Palm to spend N250 million on CSR this year

Okomu Oil Palm to spend N250 million on CSR this year

Nairametrics| Okomu Oil palm plans to spend N250 million on Corporate Social Responsibility (CSR) in 2017. Here is the summary of the company’s CSR...


Company News Roundup (May 20, 2017) – Bank executive compensation top N6 billion N1 billion in 2016

Company News Roundup (May 20, 2017) – Bank executive compensation top N6 billion N1 billion in 2016

This is Nairametrics recap of some of the top company/industry stories that were in the news for the week ended May 20th 2017.  ...


GE to open $100 million plant that can service and repair power turbines

GE to open $100 million plant that can service and repair power turbines

Contrary to earlier reports, General Electric (GE) plans to launch a repair and service plant for power turbines. News outlets, including on Nairametrics had...


In secret, corporates come clean about their outlook for the economy

In secret, corporates come clean about their outlook for the economy

The recently concluded Renaissance Capital Annual Pan-African Conference aptly titled Stability is Returning, provided us with a unique insight into Nigeria’s economic outlook for...


The Nigerian Economy Today 17/5/2017 – EU Commission bans Nigeria’s Medview Airline from European Airspace

The Nigerian Economy Today 17/5/2017 – EU Commission bans Nigeria’s Medview Airline from European Airspace

Summary of the top business, economic and political news in Nigeria today.    Over $163.7m was spent to hire pre-shipment agents to monitor Nigeria’s...


Dangote can lift 2 million people from poverty

Dangote can lift 2 million people from poverty

Nairametrics| A recently released report by Oxfam, an NGO based in the United Kingdom states that the top 5 wealthiest men in the country...


The Senate claims these 38 govt. agencies are spending carte blanche

The Senate claims these 38 govt. agencies are spending carte blanche

Then who...


Federal High Court declares it is unlawful for regulatory agencies to impose fines

Federal High Court declares it is unlawful for regulatory agencies to impose fines

We received this press release on a ruling revealing that a Federal High Court has declared unlawful, the imposition of fines by regulatory agencies...


The Nigerian Economy Today 16/5/2017 – Airtel Nigeria launches ‘Nuvu’ subscription based tv service

The Nigerian Economy Today 16/5/2017 – Airtel Nigeria launches ‘Nuvu’ subscription based tv service

Summary of the top business, economic and political news in Nigeria today.   1. The Central Bank of Nigeriahas so far sold a total...


Why the Senate is investigating banks and oil majors over capital flight

Why the Senate is investigating banks and oil majors over capital flight

Nairamterics|A joint senate committee has begun investigating several banks in the country over crude oil proceeds from oil companies. Here are the details of...