Subsea 7 bags US Gulf award

Subsea7

24 November 2014, News Wires – Subsea 7 has secured a contract worth between $50 million and $100 million from Shell for subsea installation work in the deep-water Gulf of Mexico. The UK-based...

Brent holds above $80

Oil-world

24 November 2014, News Wires – Oil markets were steady in early Asian trading on Monday, with benchmark Brent crude prices remaining above $80 a barrel following a rally late on Friday over China’s interest rate cut and ahead of a possible output reduction by producer group Opec. – Upstream ...

Russia could seek new partners if western players leave

24 November 2014, News Wires – Russia’s Energy Minister has said Moscow will seek new partners in countries that have not imposed sanctions on it if Western oil and gas companies pull out of projects with Russia. “If...

US Gulf blast result of cleaning operation

24 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...

Shell joins in new US, Canada Arctic study

24 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...

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ran talks enter deadline day

24 November 2014, News Wires – Negotiations over Iran’s nuclear programme could be extended as parties struggle to meet a deadline of midnight local time in Vienna on Monday to reach a deal. A day of frantic talks lies ahead, with Saudi Arabia’s Foreign Minister Saud bin Faisal bin Abdulaziz Al Saud jetting into the Austrian capital on Sunday for impromptu talks with US Secretary...

Govt misses 5,000mw target

24 November 2014, Abuja – The Federal Government may have failed to meet its target of generating 5,000mw of electricity by year end. Barely 37 days to end the year, the government is generating only 3,750.73megawatts. Prof. Chinedu Nebo, Minister of Power It is unable to fully distribute...

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...

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...

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

Diamond Bank to increase focus on SMEs

Naira

24 November 2014, Lagos – With the appointment of Mr. Uzoma Dozie as the Chief Executive Officer designate of Diamond Bank Plc, there are indications that the bank will increase its focus on the...

Financial market products & services update

Financial markets

24 November 2014, Sweetcrude, Lagos - Local and international financial market products and services update. NIGERIA: The fortunes of the national currency, the Naira took a sharp turn downwards yesterday...

CBN to commence review of e-payment guidelines

24 November 2014, Abuja – The Central Bank of Nigeria has granted approval to 3GEE Pay Ltd as a new Payment Terminal Service Provider (PTSP). With the approval, the company will pioneer biometric...

Oando’s rights issue opens amid optimism

24 November 2014, Lagos – Oando Plc will today open application list for its rights issue as the integrated energy group seeks to raise new equity funds from existing shareholders to deleverage...

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...