Day: May 25, 2021

Nigeria renews 20 year-Oil block’s lease for Shell, Others, mulls $780m

Efe Wellington

How NNPC inked five agreements including, Dispute Settlement Agreement, Settlement Agreement, Historical Gas Agreement, Escrow Agreement and Renewed PSC Agreement, for its Production Sharing Contract (PSC) partners – Shell, Total, Esso and Agip   The Nigerian National Petroleum Corporation (NNPC) and its Production Sharing Contract (PSC) partners – Shell Nigeria Exploration and Production Company (SNEPCo), Total Exploration and Production Nigeria Limited (TEPNG), Esso Exploration and Production Nigeria Limited (EEPNL) and Nigerian Agip Exploration (NAE) – have executed agreements to renew Oil Mining Lease (OML) 118 for another 20 years. The…

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IBEDC secures N4.2bn CBN loan, targets September for project’s delivery

Gbenga Adeoti

Nigeria’s biggest utility firm in terms of catchment area opens up on project’s progress at stakeholder’s meeting with Ibafo/Mowe/Aseese Customers   The Ibadan Electricity Distribution Company (IBEDC) on Tuesday declared that it had secured N4.2 billion loan facility from the Central Bank of Nigeria (CBN) for projects that will surge its supply delivery to customers in Magboro, Makogi, Oke-Afa to Ibafo, Asese, Orimerunmu, Pakuro, Lotto and Mowe axis and environs. Chief Operating Officer (COO) of the utility company, Engineer John Ayodele, who stated this at a stakeholder meeting with leaders…

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PEARL inks deals with Canadian Energy Solutions (CES) for Nigerian Oil, Gas sector’s growth

Wonuola Elegbede

Pacegate Energy and Resources Limited (PEARL), an arm of Pacegate Limited recently launched an ultra-modern manufacturing plant where drilling chemicals, water and oil-based production chemicals are formulated and manufactured in Nigeria and accessible to clients. PEARL, an Integrated Management System (ISO 9001:2015, ISO 14001:2015 & ISO45001:2018) Certified will provide chemical treatment solutions, laboratory testing and services, and professional field support services to the upstream and downstream sectors, as well as other relevant sectors. This is in a bid to meet the growing needs of the Oil and Gas and transportation…

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NCDMB targets $3.7bn investments in commercial deals

Damilola Olonade

The Nigerian Content Development and Monitoring Board (NCDMB) said on Tuesday that it had committed a total of US$332million under its commercial ventures partnership programme with a view to attracting project developments in-country valued at US$3.7bn. The Executive Secretary, Engr. Simbi Kesiye Wabote revealed this at the bi-annual Nigerian Oil & Gas Opportunity Fair (NOGOF) 2021 which is being held virtually for the first time. The Group Managing Director of the Nigerian National Petroleum Corporation, Mele Kolo Kyari spoke at the event and expressed the corporation’s willingness to partner with…

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World’s Top Five Oil Firms generated $1trn, Saw Revenues Fall 31% In 2020

Damilola Olonade

  Despite generating more than $1 trillion in total revenues, it was still a 2020 bearish business for ExxonMobil, Saudi Aramco, BP others   The five largest oil and gas companies in the world saw their combined revenues drop by 30 percent last year, although they still generated more than $1 trillion in total revenues, according to data compiled by Finbold. The combined revenues of state firms PetroChina and Sinopec of China, Saudi Aramco of Saudi Arabia, as well as international oil majors BP and ExxonMobil, stood at $1.14 trillion last…

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JUST IN: Nigerian Journalist Who Slapped Interviewee In ViralVideo Arrested

Dawud Rabiu

    The Nigerian police officers have arrested a popular Nigerian radio presenter and broadcast journalist, Ahmad Isah, for slapping a woman who reportedly assaulted a child. The founder and CEO of Brekete Radio and programme, Ahmed Isah, populaly known as Ordinary President, hosts a long-running radio and television programme known as ”Brekete Family”. READ ALSO: Why Buhari Absent At Late COAS Attahiru’s Burial, Presidency Breaks Silence ‘Surety for Ogun Governor’s aide arrested in US also a suspected fraudster’ How Bandits Stormed Kaduna Church, Killed Medical Doctor, 8year-old, Others   …

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‘Surety for Ogun Governor’s aide arrested in US also a suspected fraudster’

Wonuola Olujobi

  United States Magistrate Judge in Eastern District of New York, Ramon Reyes has received a letter from the US Department of Justice, claiming that the surety provided by Abidemi Rufai, the suspended aide of Governor Dapo Abiodun of Ogun State, is also a suspected fraudster. Rufai, who was arrested while trying to get out of the US on May 14, has been accused of allegedly using the identities of more than 100 Washington residents to steal more than $350,000 in unemployment benefits from the Washington State Employment Security Department…

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