Liberia’s national legislature ratifies oil block 16

Liberia

20 December 2014, Monrovia — The National Legislature has finally ratified the production sharing contract between the Republic of Liberia and the Liberty Petroleum Corporation, Petroleum Oil Limited...

Egypt cabinet approves amendments to oil, gas deals

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20 December 2014, Cairo – The Egyptian cabinet agreed during a meeting on Thursday to amend two oil and natural gas agreements between the Egyptian General Petroleum Corporation (EGPC) and the UK’s BP Exploration (Delta) Limited and German RWE Dea AG Western Nile Delta. The agreement with BP covers oil excavations in north Alexandria and east...

Oil rich Idama community laments lack of government presence

20 December 2014, Port Harcourt – Idama, in AkukuToru local government area of Rivers state is a major oil producing community in the Niger Delta. It is a host community to Chevron and an impact community to Shell. Sadly inspite...

Oil spill: UN asks Israel to pay Lebanon $850m

20 December 2014, New York – The UN General Assembly has passed a resolution asking Israel to pay Lebanon more than $850m in damages for an oil spill caused by an Israeli air force attack in its war against Hezbollah in 2006. The...

Shell resumes Nigeria EA oil production

20 December 2014, Lagos – Royal Dutch Shell says it has resumed production of Nigerian EA crude oil and lifted its force majeure on the grade after completing repairs to a mooring platform. Shell shut down output on June 12 after...

Power generation, marketing and distribution updates

Eko Disco procures 40 new transformers

20 December 2014, Lagos The Eko Electricity Distribution Company, says it has acquired 40 new distribution transformers as part of efforts to boost the company’s operations during the yuletide. Mr Ademola Adegoke, Principal Manager, Public Affairs Division of the EKEDC made the announcement in statement in Lagos on Saturday. The statement also quotes the EKEDC Managing Director, Mr Oladele Amoda,...

Power supply: Nigerians expect noisy Christmas with generators

20 December 2016, Lagos – Christmas and New Year celebrations are usually done with a good measure of food and partying in Nigeria. Some people love to spend their Christmas/New Year’s holiday in the company of family and loved ones. But whether they choose to have a party, stay at home...

Disbursement of N212bn power fund to commence soon — CBN

18 December 2014, Abuja – The Central Bank of Nigeria (CBN) said that it would commence disbursement of the N212 billion Nigeria Electricity Market Stabilisation Facility (NEMSF). The Facility is aimed at settling certain outstanding debts in the Nigerian Electricity...

Disbursement of N212bn power fund to commence soon — CBN

CBN headquarters. 18 December 2014, Lagos - The Central Bank of Nigeria, CBN, said that it would commence disbursement of the N212 billion Nigeria Electricity Market Stabilisation Facility, NEMSF. The Facility is aimed at settling certain outstanding debts in the Nigerian...

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

IMF cuts Nigeria’s growth projection to 5%

20 December 2014, Lagos – The International Monetary Fund (IMF) has forecast that the Nigerian economy will record a lower growth of five per cent in 2015. The Nigerian economy had grown by 6.1...

Financial market products & services update

Coins on a graph.

Coins on a graph. 19 December 2014, Sweetcrude, Houston - Local and international financial market products and services update. FX: The market didn’t trade yesterday as interbank players try to analyze...

Unity Bank, Seplat to join NSE 30 Index

Trading floor of the Nigeria Stock Exchange. 19 December 2014, Lagos - Unity Bank Plc, Seplat Petroleum and Sterling Bank Plc are among the stocks that have been penciled down by the Nigerian Stock Exchange,...

Disbursement of N212bn power fund to commence soon — CBN

18 December 2014, Abuja – The Central Bank of Nigeria (CBN) said that it would commence disbursement of the N212 billion Nigeria Electricity Market Stabilisation Facility (NEMSF). The Facility is...

Govt targets N1tr in insurance premiums by 2017

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09 December 2014, Abuja – The Coordinating Minster for the Economy and Minister of Finance, Dr. Ngozi Okonjo-Iweala, on Monday said the federal government was committed to growing the Gross Written...

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

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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

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...

Namibia: Swakop Uranium signs environmental agreement

Swakop Uranium

07 December 2014, Swakopmund — Swakop Uranium, the contractors on the Husab mine project as well as Metal and Allied Workers Union of Namibia, MANWU, has signed an agreement to ensure the health and...

Rwanda: Miners appeal for eased credit facilities

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07 December 2014, Kigali - Miners have appealed to financial institutions to extend loans to them, saying lack of access to credit facilities is one of the challenges the mining industry is facing. Mining is associated with a lot of risks and as a result, many financial institutions are reluctant to offer loans to miners. But speaking at celebrations to...