Another community threatens to shut Agip operations

Eni – AgipMpkoikana Udoma 29 March 2017, Sweetcrude, Port Harcourt – Few weeks after a group known as the ONELGA Oil and Gas Landlords Families Association in Ogba/Egbema/Ndoni Local Government...

Oil workers call for mass action over PIB

Mkpoikana Udoma 29 March 2017, Sweetcrude, Port Harcourt – Labour unions in the Nigerian petroleum industry – the Petroleum and Natural Gas Senior Staff Association of Nigeria, PENGASSAN, and the Nigerian Union of Petroleum...

Bonga TAM utilise made in Nigeria products

*The Bonga FPSO. Kunle Kalejaye 28 March 2017, Sweetcrude, Lagos — Indications are that the Shell Nigeria Exploration and Production Company, SNEPCo operated Bonga field turn around maintenance, TAM, has deployed the use of made...

Analyst estimates Aramco tax cut lifts company’s value by $1trn

28 March 2017, Sweetcrude, Riyadh — Saudi Arabia’s decision to cut tax paid by national oil giant Saudi Aramco has increased its value by $1 trillion, an analyst estimated on Tuesday ahead of Aramco’s initial public offer...

View Photos

Power generation, marketing and distribution updates

FESTAC residents owe Eko Disco N4.2bn

28 March 2017, Sweetcrude,  Lagos – The Eko Electricity Distribution Company Plc, EKEDC, has revealed that it is being owed N4.2 billion  by residents of Festac Town in Lagos, urging power consumers in the area to settle their debts. “We have designed a model that allows customers to pay their huge debts by installment to encourage them settle their debts at ease. “We all know what...

Don’t bribe our workers, Eko Electric warns customers

EKEDC corporate head-office on Lagos Island 27 March 2017, Sweetcrude, Lagos – Eko Electricity Distribution Company, EKEDC, has warned its customers against offering bribe or other form of gratification to its workers. According to Mr. Godwin Idemudia, EKEDC’s General Manager, Communications,...

AEDC decries assault on workers, writes Police IG

*AEDC Plc. 27 March 2017, Sweetcrude, Abuja – The Abuja Electricity Distribution Company, AEDC, has decried what it termed an increasing spate of “unwarranted, vicious, inhuman and criminal.attacks on its field workers”. It said in a statement that...

GE upgrades Egyptian power plant

*Kureimat III 750MW Combined Cycle Power Plant, Egypt. *To increase capacity, lower fuel use, increased efficiency 25 March 2017, Sweetcrude, Lagos — Working deep inside the gas turbines of the Kurimat power plant in Upper Egypt, a team of engineers from GE and...

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

Saudi Arabia sweetens huge Aramco IPO with tax cut

*Saudi Deputy Crown Prince Mohammed bin Salman. 28 March 2017, Jeddah, Saudi Arabia — Saudi Arabia’s government has cut the income tax paid by national oil giant Saudi Aramco to smoothen the...

Financial market products & services update

*Financial markets 28 March 2017, Sweetcrude, Lagos — The local and international financial market products and services update. NIGERIA: Nigeria is likely to pass the 2017 budget into law before...

Financial market products & services update

*Financial markets. 27 March 2017, Sweetcrude, Lagos — The local and international financial market products and services updates. NIGERIA: Capital released to Nigeria’s ministries and government...

Nigerian govt releases N1 trillion for 2016 capital projects – Official

*Nigeria’s Minister for Finance, Kemi Adeosun. 26 March 2017, Sweetcrude, Abuja — The Nigerian government has released over N1 trillion for capital projects to federal ministries, departments,...

Global ship insurers to resume near full coverage for Iran oil – Officials

*A gas flare on an oil production platform is seen alongside an Iranian flag in the Gulf. REUTERS/Raheb Homavandi/File Photo. 17 January 2017, Tokyo/Singapore — Global shipping insurers have devised...

NAICOM threatens to sanction violators of local content policy

28 December 2016, Lagos —The National Insurance Commission, NAICOM, has threatened to sanction insurance operators that contravene local content policy by ceding businesses offshore, without fully...

Nigeria: Reps uncover massive fraud in insurance payments

*The House of Representatives. 05 October 2016, Abuja — A House of Representatives panel has uncovered massive fraud in the payment of billions of naira to government officials annually by insurance...

Nigeria: Forex scarcity stifling insurance operations, NIA, CIIN lament

*Forex. *Minimum capital for composite firms down to $16.13m from $25.12m 18 September 2016, Abuja — Even as insurance practitioners are complaining about the prevailing apathy by the public towards...

sweetcrude160X600

Community petitions Senate over Ajaokuta Steel Company

*Section of Ajaokuta Steel plant. Kunle Kalejaye 27 March 2017 Sweetcrude, Lagos – The people of Kogi Central Senatorial District in Kogi State has petitioned the Nigerian Senate over the resuscitation...

Seven suspected illegal miners perish in Jos mine collapse

Illegal mining activities Oscarline Onwuemenyi 24 March 2017, Sweetcrude, Abuja – Seven people suspected to be illegal miners died while several others were injured when a section of a mining site collapsed in Jos, Plateau State last weekend. Relatives of the victims were said to be reluctant to report the accident to law enforcement agencies for fear...