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Monday, July 13, 2020

NNPC records revenue growth by 25%, records N14bn trading deficit

by Joseph Afam Nigerian National Petroleum Corporation, NNPC recorded a revenue growth by  24.61 percent, as its trading deficit rose to N14.12 billion in the month of February 2017. The NNPC, in its February 2017 Monthly Financial and Operations Report, posted group operating revenue of N318.29...

Shell mulls $15bn investment surge in Nigeria

Oil giant, Royal Dutch Shell, is mulling additional $15 billion investment in Nigeria. The company, which is the biggest international oil company (IOC) in Nigeria in terms of assets and oil production volume, a document sighted by New Telegraph at the weekend showed, would...

Bad weather slows fuel cargo docking in Angola- Sonangol

LUANDA  - Bad weather off the coast of Angola has prevented the berthing of fuel vessels docking at Cabinda and Benguela ports, causing shortages at filling stations and power blackouts, state-energy company Sonangol said. Sonangol said a lack of coordination between government agencies had also...

Morocco’s OCP plans chemical plants, fertiliser blenders in Nigeria, Ghana and Ethiopia

(Adds details and background) By Ahmed Eljechtimi CASABLANCA, March 4 - Morocco’s OCP Group, expects to reach a deal this year to build a Nigerian ammonia plant and to start production at a $3.7 billion chemical plant in Ethiopia by 2023/2024, the chief executive of...

Shell backed Joint Venture restates commitment to development of host communities

By Joseph Afam The Shell Petroleum Development Company of Nigeria Ltd operated Joint Venture (SPDC JV) has said its commitment to the welfare of host communities in the Niger Delta remains unshaken, even as it decried the illegal occupation of Belema Flow Station and Gas...

Nigeria’s NNPC awards oil-for-fuel swap deals -sources

By Libby George and Julia Payne LAGOS/LONDON, July 15 - Nigerian state oil firm NNPC issued award letters on Monday for highly sought-after contracts to exchange crude oil for imported fuel for one year, oil industry sources told Reuters. A total of 15 groupings, with...

W. Africa Crude-Angolan offers trimmed, tenders in focus

LONDON, Oct 12 (Reuters) - Angolan crude was offered at lower levels on Thursday amid a lull in Chinese demand, while several Asian buying tenders remained in focus with Total said to have been awarded one. ANGOLA * Pazflor was being offered at dated Brent parity...

Refineries’ sale: Minister’s power to fix fuel price turns to obstacle

Okon explained that Section 6 of the Petroleum Act remained a major setback and reason why investors might not find the refineries attractive for business

FG, IOCs to invest N1.7bn in Niger Delta infrastructure in 3years

23 May 2018, Naija247news, Lagos Nigeria— The Nigeria government, Monday, stated that together with some of its parastatals and international oil companies, it would be investing N1.7 trillion in the Niger Delta over the next three years. Speaking at the Seventh Sustainability in the...

Planned $4.3bn NLNG Train 7 will be domiciled in Nigeria – NCDMB

The engineering, procurement and construction of the planned $4.3bn Nigeria LNG Limited Train 7 plant will be done in-country by mostly indigenous companies, the Nigerian Content Development and Monitoring Board has said. According to the Executive Secretary, NCDMB, Simbi Wabote, the fabrication of pressure vessels,...
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