Day: August 8, 2020

NNPC, CNOOC, SAPETRO End 14-year Spat in OML130 $2.3bn stake’s acquisition

Tim Bauer

  Resolution to Unlock about $510million of Gas Revenue – Kyari The Nigerian National Petroleum Corporation (NNPC) has reached an accord with its partners, China National Offshore Oil Company (CNOOC) and South Atlantic Petroleum (SAPETRO), to settle a tax dispute that arose from the $2.3bn acquisition of a 45 per cent stake in Oil Mining Lease 130 by CNNOC from SAPETRO in 2006. The Corporation declared in a statement to Platforms  Africa  that this move was in its bid to meet the target of revving up production to 3million barrels per…

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How UBA, Afrexim, Union Bank others’ll be repaid $1.5bn Oil Pre-Export loans by NNPC

admin

Facts have emerged on how the United Bank for Africa (UBA)-led consortium of Nigerian commercial and international lenders involved in a $1.5 billion Pre-Export Finance Facility for the Nigerian National Petroleum Corporation (NNPC) and its upstream subsidiary, the Nigerian Petroleum Development Company (NPDC) will be repaid. Other participants in the NNPC deal include Standard Chartered Bank, Afrexim Bank, Union Bank and two oil trading companies, Vitol and Matrix. “They would be repaid from an allocation of 30,000 barrels per day of NPDC’s crude oil,” a source close to the deal…

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Tanzania bans Kenya Airways from flying into country as bickering worsens

Aoko Benjamin

Tanzania has slammed a ban on Kenya Airways from flying into the country as bickering between the two East African countries worsened. The Exclusion comes after Nairobi announced passengers from Tanzania would not be allowed to enter Kenya. The Tanzanian Civil Aviation Authority (TCAA), which declared that Kenya Airways flights were being banned “on a reciprocal basis,” maintained that this came after the Kenyan government decided against including Tanzania in a list of countries whose passengers would be allowed to enter Kenya when commercial flights resumed on Saturday following the…

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A Searchlight on Shell and Social Investment in Nigeria

Precious Ibekwe

In 2019, Shell’s Nigerian businesses – SPDC, SNEPCo and SNG – said they made direct social investments of $40 million in Nigeria, making the country the largest concentration of social investment spending in the Shell Group. These investments were in Access to affordable healthcare; Supporting education; Enterprise support; Accelerating access to energy; and Assistance and safety. Aside from this, the company said in The Nigeria Briefing Notes, community-driven programmes since 2006 worth $252 million while the numbers of Mobile Health Ouitreach Beneficiaries since the start has hit 667,000. This is…

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A Must-Do Action for Male, Female After Sex, Even The Virtual Kind during COVID-19 – Doctor

Damola Oyede

An Argentine official has given some on-air sex education for onanistic lovers in the time of the coronavirus, underscoring how the pandemic and lockdown in response to it are shaking up every aspect of people’s lives. Jose Barletta, a doctor with the country’s health ministry, said in a televised broadcast that people needed to wash their hands after sex – whether it was in person or, as is increasingly the case, over digital channels. “It’s more important than ever to wash your hands after having sexual relations, after masturbation, or…

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All Eyes on Shell’s Oil Spill response, prevention in Nigeria

Efe Wellington

  Asides $360 million contributed for Ogoni Clean-up by Shell Petroleum Development Company (SPDC) Joint Ventures (JV) in two years, the SPDC declared that it is working to eliminate spills from operational activities, remediate past spills and prevent spills caused by sabotage. Here is a comprehensive report by Shell on actions taken so far. – Platforms Africa  Oil spillage is an issue in the Niger Delta due to sabotage of oil facilities by vandals, oil theft and illicit refining by some unscrupulous elements in the region. Commendably, in 2019, the…

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African Youths demand Inclusion in policy formulation, entrepreneurship investment

Aoko Benjamin

  The African Youths Circle has demanded the inclusion of youths in entrepreneurship and policy formulation by government across the continent. The group particularly wanted the government across nations of Africa to do more in the area of youth empowerments, arguing that the time is ripe for Africa to have good leadership and also include Youths in conversations regarding policies, entrepreneurship support.   These demands, a statement sent to Platforms Africa read, were contained in a communiqué issued at the end of a two-day all African Youth conference facilitated by…

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