OIL AND GAS

March 12, 2020

Firm Pledges to Bridge Metering Gap in Electricity Sector

Mojec International has stated that its commitment to bridging the metering gap in the Nigerian electric industry remains unwavering.
Mojec noted that the solution it was bringing to the Nigeria’s power sector was beyond profit making.

It"...

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March 11, 2020

Shell- Ejama Dispute: FirstBank Clarifies Position on Court Garnishee Order

FirstBank of Nigeria Limited yesterday described a garnishee order compelling the Central Bank of Nigeria (CBN) to pay the people of Ejama Community in Eleme Local Government Area of Rivers State a total sum of N182.7 billion as strange.

The"...

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March 11, 2020

Libyan Mining ''may become More Important than Oil''

The Economy Minister of Libya's Tripoli-based Government of National Accord (GNA), has said that mining may eventually become a more significant economic activity than oil production.

S&P Global Platts"...

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March 11, 2020

Public Eye: Swiss trader Kolmar is linked with network for smuggling Libyan fuel

A Journalist at the Swiss-based 'Public Eye' organization, Agathe Duparc has said that the Swiss company 'Kolmar Group AG' involved in smuggling Libyan oil between 2014 and 2016 had rented two underground warehouses in Malta to store the smuggled shipments.

In"...

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March 9, 2020

Adesina: Appropriate Electricity Pricing Will Unlock Investments in Power Sector

The Chairman of Ikeja Electric, Mr Kola Adesina, in this interview, calls for coordination among stakeholders in the electricity value chain. This, he believes will help address the challenges in the sector. Adesina also stresses that persistent blame game by the stakeholders is not good"...

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March 7, 2020

NEPC Eyes $150bn with Zero Oil Plan

The Executive Director/Chief Executive Officer of the Nigeria Export Promotion Council (NEPC), Mr. Olusegun Awolowo, has revealed that, the zero oil plan is capable of improving Nigeria’s foreign reserve by $150 billion over the next decade, if successfully executed.

Awolowo"...

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March 5, 2020

Power supply cut off to the Sahel district south of Tripoli after theft of wire

The General Electricity Company of Libya (GECOL) announced on Wednesday that supply of electricity was lost to the homes of many residents in the Sahel district in Souq Khamies Emsihel region in southern Tripoli after the robbery of 750 meters of electrical wire.

"...

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March 4, 2020

FIRS Targets N4tn Tax from Oil, Gas Companies

The Federal Inland Revenue Service (FIRS) expects to rake in N4 trillion as tax revenue from the extractive sector of the Nigerian economy in the 2020 fiscal year. A statement from the agency said the Executive Chairman of the FIRS, Mr. Muhammad Nami, made the disclosure yesterday in Abuja when a team of the Nigerian office of the Organisation for Economic Cooperation and Development (OECD) called at the Revenue House Headquarters of FIRS on a courtesy visit. Consequently, the FIRS chairman solicited the support of the OECD in stemming......

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March 4, 2020

The NOC is concerned about fuel shortages

The National Oil Corporation (NOC) declared in a statement Tuesday that it was very concerned about possible fuel shortages having lost local production and the closure of the Zawia refinery.

NOC"...

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March 3, 2020

Dutch court rejects lawsuit by POSH to seize bank accounts of Mellitah Oil and Gas Company

Mellitah Oil and Gas Company announced on Sunday, that an Amsterdam court in Holland, made a ruling on Thursday last, invalidating a lawsuit brought by the Pacific Offshore Holdings Company (POSH) against them in an attempt to seize their accounts.

Mellitah"...

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