Tag Archive

CNOOC Explore Offshore Investment In Nigeria

CNOOC Explore Offshore Investment In Nigeria

July 19, 2018 No Comments

CNOOC Ltd is willing to invest an additional US$3 billion in its existing stakes in offshore oil and gas operations in Nigeria, the Nigerian National Petroleum Corp. (NNPC) said on July 15. CNOOC Ltd’s CEO, Yuan Guangyu, said the company’s investment in Nigeria was its “most strategic and important overseas business undertaking”, according to an […]

GE, Lagos State Government Sign Agreement on Power, Healthcare

GE, Lagos State Government Sign Agreement on Power, Healthcare

July 19, 2018 No Comments

GE (NYSE: GE), and the Lagos State Government in Nigeria have agreed to pool their resources for the development of critical infrastructure in the state in the areas of Power, Healthcare and Skills Development. This was announced during the signing of a Support and Cooperation Agreement by both parties during the France-Nigeria Business Forum held […]

Nigeria is clueless about the consumption level of refined products that it imports.

Nigeria is clueless about the consumption level of refined products that it imports.

July 19, 2018 No Comments

When the Nigerian National Petroleum Corporation (NNPC) stated the other day that daily consumption of Premium Motor Spirit (petrol) in the country is unknown due to smuggling of the product into other West African countries, there could not have been a better way to illustrate how shrouded in various mysteries operations in the oil industry […]

CNOOC to Invest $3bn in Nigeria

CNOOC to Invest $3bn in Nigeria

July 16, 2018 No Comments

The Management of China National Offshore Oil Corporation (CNOOC) has expressed readiness to invest additional $3billion in its existing stakes in offshore oil and gas operations in the Nigerian jurisdiction. Leading a team of CNOOC top executives to the corporate headquarters of the Nigerian National Petroleum Corporation (NNPC), Yuan Guangyu, Chief Executive Officer of the […]

Dangote signs $650m Afreximbank loan for Nigeria oil refinery

Dangote signs $650m Afreximbank loan for Nigeria oil refinery

July 16, 2018 No Comments

Dangote Group, has signed a $650 million loan facility with the African Export-Import Bank (Afreximbank) for his oil refinery project in Nigeria. The seven-year term loan would attract a moratorium of five years, according to facility terms read out during the signing. Cairo-based Africa’s trade bank also signed a $750 million facility with Nigeria’s development […]

IMF Staff Concludes Visit to Nigeria

IMF Staff Concludes Visit to Nigeria

July 13, 2018 No Comments

An International Monetary Fund (IMF) staff team led by Amine Mati, Senior Resident Representative and Mission Chief for Nigeria, visited Nigeria from June 27 to July 9, 2018 to discuss recent economic and financial developments, update macroeconomic projections, and review reform implementation. At the end of the visit, Mr. Mati issued the following statement: “Higher […]

NNPC Kick-Starts 7 Critical Gas Projects to Support 15GW Power Generation

NNPC Kick-Starts 7 Critical Gas Projects to Support 15GW Power Generation

July 10, 2018 No Comments

A major stride in the attainment of national energy sufficiency was achieved in Lagos on Monday with the commencement of technical framing workshop and subsequent project signing ceremony of the seven Critical Gas Development Projects (7CGDP) to deliver about 3.4 billion standard cubic feet of gas per day (bscfd) to bridge the foreseen medium term […]

Nigeria Oil and Gas Conference Awards

Nigeria Oil and Gas Conference Awards

July 9, 2018 No Comments

Aiteo adjudged Company of the Year The Aiteo group (www.AiteoGroup.com) was declared Indigenous Oil and Gas Company of the Year at the Nigerian Oil and Gas(NOG) Awards, on July 4, 2018 at the International Conference Centre(ICC), Abuja. The gala rounds off the Nigeria Oil and Gas Conference and Exhibitions, holding from July 2 to July […]

NNPC Posts Daily Gas Supply of 854.40million Standard Cubic Feet in March

NNPC Posts Daily Gas Supply of 854.40million Standard Cubic Feet in March

July 6, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) has announced the attainment of a two-year record spike in gas supply to power generation, which hits 854.40million Standard Cubic Feet of gas per day (mmscfd) for March 2018, translating to an equivalent power generation of 3,492MW. Details of the March 2018 National Gas Production figures contained in the […]

NNPC Considers Capital Market Funding

NNPC Considers Capital Market Funding

July 4, 2018 No Comments

The Nigerian National Petroleum Corporation (NNPC) is set to hit the Capital market to fund its new projects which include the NNPC/NAOC JV Idu-Re-development, South Gas Project, North Gas Project and Central Gas Project. Group Managing Director of the corporation, Dr. Maikanti Baru, made this disclosure at the ongoing Nigeria Oil and Gas Strategic Conference […]

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