Shell denies lying about Nigeria oil spills

Shell logo

22 November 2014, Lagos – Shell Petroleum and Development Company has denied that it lied to a Dutch court in The Hague about oil pollution in the Niger Delta. The multinational company, half owned...

Canada players cleared in bird deaths

A worker inspect facilities on an upstre

22 November 2014, News Wires – Canada’s Alberta Energy Regulator on Thursday cleared oil sands operators of responsibility for the death of 196 waterfowl that landed on their toxic tailings ponds earlier this month, saying poor weather conditions forced the birds down. The regulator said the operators’ deterrent systems were all working...

Shell joins in new US, Canada Arctic study

22 November 2014, News Wires – Supermajor Shell is joining a host of governmental bodies for an Arctic study in part aimed at aiding future oil and gas developments in an area between the US and Canada. The Bureau of Ocean Energy...

US Gulf blast result of cleaning operation

22 November 2014, News Wires – A contractor killed in an explosion at a Fieldwood Energy platform in the US Gulf of Mexico on Thursday was cleaning a heater treater when the blast occurred, the operator said on Friday. Employees...

Stephen Pryor to retire as president, ExxonMobil Chemical Company

22 November 2014, Sweetcrude, Houston – Stephen D. Pryor, president, ExxonMobil Chemical Company and vice president of Exxon Mobil Corporation (NYSE:XOM), has elected to retire on January 1, 2015, after more than 44 years of service. It...

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Power generation, marketing and distribution updates

GE’s distributed power expands presence in Nigeria

22 November 2014, Lagos – Seeking to further expand its gas engine sales presence in Africa’s oil and gas sector, GE’s Distributed Power business (NYSE: GE) today announced IGPES Gas & Power Limited will serve as the new authorized distributor and service provider for GE’s Waukesha gas engines and genuine parts in Nigeria. IGPES Gas & Power is a subsidiary of IGPES...

Tunisia’s solar power initiative could serve Europe

22 November 2014, Tunis – If Europe decides to turn away from nuclear and other sources of energy, as current trends tend to indicate, where will the continent look to power its future? Some say: Tunisia.  As nuclear scientists continued to give dire reports over the state of the damaged...

Africa: U.S. official outlines future of energy in Africa

21 November 2014, Washington D.C —  The United States is committed to aggressively addressing Africa’s lack of electricity because that lack is “one of the core obstacles to the continent’s development,” an official from the U.S. Agency for...

Nigeria: Govt, market participants agree to boost power generation

21 November 2014, Abuja - The Nigerian Government has signed agreements with power generation and distribution companies as well as independent power producers, international oil companies and the Nigerian Gas Company for the supply of gas to further boost the country’s...

Monitoring of ongoing projects undertaken by the Niger Delta Power Holding Company, NDPHC. View More Pictures...

Nigeria: Govs want $2bn from Excess Crude Account

Nigeria Governors’ Forum

22 November 2014, Abuja – For the fourth month running, statutory revenue available for distribution between the three tiers of government dropped as the total revenue for October stood at N593.34...

Foreign exchange: CBN accuses authorised dealers of round tripping

Central-Bank-of-Nigeria-CBN

22 November 2014, Abuja – The Central Bank of Nigeria (CBN) has cautioned all authorized dealers in foreign exchange to desist from selling forex for items not supported with necessary shipping documents. CBN...

Nigeria: Fiscal Commission wants oil benchmark lowered to $60

21 November 2014, Abuja - $60 per barrel is a more realistic budget benchmark to be adopted by the federal government, the Fiscal Responsibility Commission (FRC) has said. Chairman of FRC, Barr Victor...

Maritime Microfinance Bank gets CBN nod

21 November 2014, Lagos - Nigeria’s apex bank, Central Bank of Nigeria (CBN) has given nod to a Maritime Microfinance Bank (MMB) to start operation next month. Described as the first financial institution...

Level playing field for Local, foreign insurers is necessary – Fashola

Fasholaxx

24 September 2014, Lagos – Managing Director of Industrial and General Insurance Plc (IGI), Mr. Rotimi Fashola, in this interview with Nnamdi Duru, spoke on the need for a level playing field for...

EI-Anchor Pension targets N3bn share capital

IEIx

16 September 2014, Abuja – Managing Director of IEI-Anchor Pension Managers, Solomon Okoli has assured shareholders that the company has overcome its teething problems and is now positioned for...

IEI settles N616.18m claims in six months

27 August 2014, Lagos – International Energy Insurance (IEI)Plc paid a total of N616.18 million in the first half of the year ended June 30, 2012. The Managing Director of the company, Mrs. Roseline...

Renewable energy insurance spend to triple by 2020

04 August 2014, Lagos – The renewable energy industry could be spending three times as much on insurance every year by 2020, to mitigate risks to projects, according to a new report by Bloomberg...

NEITI blasts states on mineral revenue application

Zainab Ahmed, Executive-Sec, NEITI

Oscarline Onwuemenyi 17 November 2014, Sweetcrude, Abuja - The Nigeria Extractive Industries Transparency Initiative, NEITI, has criticised states in the Niger Delta Region in the utilisation of revenue...

Solid minerals producing states to Enjoy 13% Derivation

08 November 2014, Lagos – States endowed with solid minerals will soon join their Niger Delta counterparts to enjoy 13 per cent revenue allocation from the federation revenues. The Chairman of the Revenue Mobilisation Allocation and Fiscal Commission (RMAFC), Mr. Elias Mbam, disclosed on Thursday  that the sharing formula was being worked out. He...