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Saturday, August 8, 2020

Schlumberger Signs $700 Million Oil-Field Deal in Nigeria

Nigeria’s state-owned oil company said it signed a deal with Schlumberger Ltd. to provide $700 million for the development of two oil fields in the country’s crude-rich south. The Anyala and Madu fields, estimated to have reserves of 193 million barrels of crude and 800...

NNPC retains 60% stake in $700 mln joint venture

YENAGOA, Nigeria June 29 - Nigeria's state oil company said on Thursday it had agreed a joint venture to cover the more than $700 million cost of developing new oil fields in its southern Niger Delta energy hub. The Nigerian National Petroleum Corporation (NNPC)...

Cross Rivers State gov to build new 26MW gas power plant for Tinapa

The Cross River State Government has announced plans to commence the construction of another 26MW gas powered turbine plant in Tinapa, Calabar. This is coming few weeks to the completion of a 21 megawatt power plant in Calabar. Funded by Export-Import Bank of India and the...

Controversial Nigerian Oil Investor Owns $50.9m Worth Manhattan Condo Foreclosure

Kola Aluko part of probe into diverted government funds Auction of $50.9 million One57 condo scheduled for next month The owner of a $50.9 million Manhattan condo that is scheduled to be sold at a foreclosure auction next month is Kolawole “Kola” Aluko, a...

France says Nigeria remains first economic partner in Africa

considers €1billion investment in Nigeria’s oil and gas industry The French government has said that it has set aside about one billion Euros to be invested in the Nigeria oil and gas industry, stating that Nigeria remains her first economic trading partner in Africa. The...

NNPC report trading deficit of N5.27bn in April

The NNPC Group recorded a trading deficit of ₦5.27Billion in April, 2017, blaming challenging environment which it said “limits its much aspiration to profitability.” The deficit,which was revealed in its April report however indicated a 6.20% decrease in the previous month’s record of ₦5.62Billion. In its...

Lagos partner investors to generate 3,000 MW of power in 7 years

Lagos state government on Tuesday signed an agreement with investors to generate 3,000 megawatts of power over the course of seven years, sources say Tagged the “Lagos State Embedded Power Programme,” has the objective to deliver 3,000MW incremental electric power to drive the burgeoning economy...

Nipco launches N4.84 billion offer for Mobil Oil shares

LAGOS, June 21 - Nipco Plc has launched a 4.84 billion naira ($16 mln) offer for the shares it needs to take its stake in Mobil Oil to 70 percent to comply with Nigerian takeover rules, its advisers said on Wednesday. Nipco's investment subsidiary bought...

Indonesian firm to build 10,000 bpd modular refinery in Nigeria

The Federal Government’s plan to attract investment in modular refineries as part of efforts to boost local refining capacity has started gaining momentum with an Indonesian firm, PT Intim Perkasa Nigeria Ltd, a subsidiary of PT Intim Perkasa, Indonesia, indicating interest to build a...

Italy’s Eni signs deal with Iran on oil and gas field studies

20 June 2017, Tehran — Italian oil major Eni signed an agreement with Iran on Tuesday for feasibility studies to develop an oil field and a gas field, signaling a possible return to Iran’s upstream sector. The Iranian oil ministry’s official website SHANA reported Eni...
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