JTF, Ijaw communities collaborate to curb oil theft

Crude oil theft in Nigeria

25 October 2014, Yenagoa – The Joint Task Force (JTF) in the Niger Delta on Friday said it was collaborating with Southern Ijaw Local Government Council of Bayelsa to curb oil theft in the area. Lt.-Col....

Controversy trails kidnap of ‘Petroleum Minister’s sister’

25 October 2014, Abuja – The kidnap of a septuagenarian, Madam Osiya Agamah, in Port Harcourt, the Rivers State capital, has sparked a controversy as the police have not been able to confirm if the victim is related to Minister of Petroleum, Diezani Allison-Madueke. Madam Agamah was said to have been kidnapped at about 9.30pm on Tuesday by a group...

Cross ’River seals PPMC office over N262m tax

24 October 2014, Calabar –   The Cross River State Government has sealed the premises of the Pipeline Products and Marketing Company (PPMC) for its alleged tax indebtedness to the state amounting to N262 million. The state Internal...

Oil price slide may threaten CBN’s bid to prop up naira

24 October 2014, Lagos –  The effort by the Central Bank of Nigeria (CBN) to prop up the naira months before the 2015 elections is being threatened by the slide in crude oil prices. The naira has come under intense pressure and...

Ophir Energy expands offshore Gabon footprint

24 October 2014 - Africa-focused independent oil firm Ophir Energy reported Friday that it has expanded its footprint offshore Gabon by signing exploration and production sharing contracts for two additional blocks. The new blocks, A3...

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Power generation, marketing and distribution updates

Transmission weakest link in Nigeria’s quest for improved power – Nebo

*Govt shops for $1bn annual investment to boost power Oscarline Onwuemenyi 25 October 2014, Sweetcrude, ABUJA - The Minister of Power, Prof. Chinedu Nebo has described the transmission network as the weakest link in the nation’s power supply chain, even as he denied plans by government to privatise the Transmission Company of Nigeria (TCN). He therefore charged operators in the industry...

‘Nigerians spend N796.4bn annually on fuel to power generators’

24 October 2014, Lagos – Nigerians spend about N796.4 billion annually on petrol and diesel to fuel their electric generators in order generate their own electricity due to inadequate power supply, Programme Director of Community Research and Development Centre (CREDC), Godfrey Ogbemudia,...

Mozisa transmission line to boost power trading in SADC

24 October 2014, Harare - Construction of a new power transmission line linking Mozambique, South Africa and Zimbabwe is expected to improve connectivity and electricity trading in southern Africa. Commonly referred to as the Mozambique-Zimbabwe-South Africa (MoZiSa)...

AfDB eases investor risk in large African geothermal project

23 October 2014, Abidjan - The Board of Directors of the African Development Bank (AfDB) approved an USD 12.7 million African Development Fund partial risk guarantee (ADF PRG) for the 105 MW Menengai Independent Power Producers project. The global Menengai project will...

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

Cross ’River seals PPMC office over N262m tax

Financial markets 1

24 October 2014, Calabar –   The Cross River State Government has sealed the premises of the Pipeline Products and Marketing Company (PPMC) for its alleged tax indebtedness to the state amounting...

Oil price slide may threaten CBN’s bid to prop up naira

Central-Bank-of-Nigeria-CBN

24 October 2014, Lagos –  The effort by the Central Bank of Nigeria (CBN) to prop up the naira months before the 2015 elections is being threatened by the slide in crude oil prices. The naira has...

Ethics and values coordinator seeks release of N220bn CBN Fund

24 October 2014, Lagos - The National Coordinator, Ethics and Values Cooperatives of the Office of the Special Adviser to the President on Ethics and Values, Comrade Ralph Ogbaji has called for the release...

AfDB and Srep promotes renewable energy in Mali

24 October 2014, Abidjan - With support from the African Development Bank (AfDB), Mali received US $1.5 million from the Scaling-Up Renewable Energy Programme in Low Income Countries (SREP) of the Climate...

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...

BFIG has no claim to ALSCON — BPE

alsconx

15 October 2014, Abuja – The controversy over the privatisation of Aluminium Smelter Company of Nigeria, ALSCON, Ikot Abasi, Akwa Ibom State, has continued to rage as Bureau of Public Enterprises,...

BFIG Group now new manager of ALSCON

13 October 2014, Abuja –  Following the recent Supreme Court judgment, BFIG Consortium has taken over the management of Aluminium Smelter Company of Nigeria (ALSCON) in Ikot Abasi, Akwa Ibom state. The Chief Executive Officer of BFIG, Dr. Reuben Jaja, disclosed this when he paid a courtesy visit to the paramount ruler of Ikot Abasi, Edidem Joe Ntuk-Obom...