Nigerdock delivers first fabricated structures for Egina FPSO Project

Load-out-of-the-Egina-flare-stack-469x313

25 May 2016, Sweetcrude, Lagos – Nigerdock has successfully completed fabrication and the sail away of the Flare Tower for the Egina Floating Production Storage and Offloading, FPSO, Project for...

Subsidy removal: Passage of PIB now urgent – Reps

25 May 2016, Sweetcrude, Lagos – The House of Representatives has said passage of the Petroleum Industry Bill, PIB, has become more urgent in light of the recent removal of the subsidy on petroleum products, even as it blamed the...

N145/l price: Nigeria one of cheapest fuel markets in Africa – Govt

Oscarline Onwuemenyi 25 May 2016, Sweetcrude, Abuja – The Federal Government has stated that at the new pump price of N145 per litre, Nigeria remains one of the cheapest fuel markets in the world, even as said the estimated ‘true’...

Bonga spill: Shell faults govt over legal action

Mkpoikana Udoma 25 May 2016, Sweetcrude, Port Harcourt – The Shell Nigeria Exploration and Production Company, SNEPCo, has reiterated that the 2011 Bonga oil spill which allegedly affected 285,000 people in 350 communities in Delta...

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Power generation, marketing and distribution updates

Power sector may collapse from poor investment – ANED

Oscarline Onwuemenyi 25 May 2016, Sweetcrude, Lagos – The Association of Nigerian Electricity Distributors, ANED, has listed the impediments to investment in the power sector and warned that the sector could collapse if urgent steps are not taken to remedy the situation. *Electricity transmission. Executive Director of Research and Advocacy, ANED, Mr. Sunday Oduntan, who briefed the media...

EKEDC to sign MoU with USAID on technical assistance

Kunle Kalejaye 25 May 2016, Sweetcrude, Lagos – The Eko Electricity Distribution Company, EKEDC, is set to sign a Memorandum of Understanding, MoU, withthe United States Agency for International Development, USAID, to enhance service delivery and customer satisfaction. Power transmission...

Power output seen at 20% of 2016 peak after attacks

25 May 2016, Lagos – Power output in Nigeria plunged to a fifth of this year’s peak after attacks on natural gas pipelines cut supplies of the fuel to electricity producers, according to Egbin Power Plc, the country’s largest generator. Total generation fell...

Plateau to soon become hub for electricity generation – Gov. Lalong

25 May 2016, Jos – Governor Simon Lalong of Plateau state has declared that with the decision by a multinational firm, CT Cosmos Nigeria Ltd to set up a massive power generation project of over $150 million in his state, “Plateau will soon become a centre of...

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

Forex: CBN throws Naira into open market, nullifies N197/$ exchange rate

*From left, Governor, Central Bank of Nigeria, CBN, Mr Godwin Emefiele; Director-General, Economic Policy, Cbn, Mrs Sarah Alade and Director-General, Operations, Mr Suleiman Barau, at the Monitoring Policy Committee meeting, in Abuja.

*From left, Governor, Central Bank of Nigeria, CBN, Mr Godwin Emefiele; Director-General, Economic Policy, CBN, Mrs Sarah Alade and Director-General, Operations, Mr Suleiman Barau, at the Monitoring Policy...

Financial market products & services update

*Financial markets.

*Financial markets. 25 May 2016, Sweetcrude, Houston — Local and international financial market products and services update. NIGERIA: The Central Bank of Nigeria, CBN, on Tuesday stated that it...

Oil marketers still make profit at N320/$ exchange rate – CBN

*Fuel scarcity. Oscarline Onwuemenyi 25 May 2016, Sweetcrude, Abuja – The Central Bank of Nigeria has insisted that oil marketers source foreign exchange (forex) from the parallel market against...

Missing N30trn: Okonjo-Iweala denies receiving court papers

*Dr. Ngozi-Okonjo-Iweala. …Moves to set aside court order Oscarline Onwuemenyi 25 May 2016, Sweetcrude, Abuja – The immediate-past Finance Minister and Coordinating Minister for the Economy, Dr....

Oil price slump triggers premium cuts

Crude-oil-decline

02 March 2016, Lagos – The insurance industry is becoming the latest casualty of the oil price slump, with postponements and cancellations of energy projects forcing down premium rates and income...

West Africa: Gambia to host W/African Insurance conference

Insurance

07 November 2015, Banjul – The Gambia will host an educational conference of the West African Insurance Companies Association, WAICA, on 8 and 9 November 2015, officials have said. The annual rotating...

Nigeria partners Anglophone countries on cross-border insurance regulation

*West Africa map. 20 September 2015, Abuja – Insurance regulators in West African sub-region have entered into a Multi-Lateral Memorandum of Understanding to strengthen cross border insurance supervision. The...

Regulator bars insurance firms from offshore investment

18 August 2015, Lagos – The National Insurance Commission has barred insurance companies from investing in any business outside the country. Insurance firms are also prohibited from investing their...

Fayemi to address UK Parliament on minerals sector investment

*The UK Parliament building.

*The UK Parliament building. Oscarline Onwuemenyi 17 May 2016, Sweetcrude, Abuja – The Minister of Solid Minerals Development, Dr. Kayode Fayemi, will on May 19, 2016, address the United Kingdom...

South Africa: Impacted mining communities speak out against the dangers of coal

Break Free

13 May 2016, Sweetcrude, Mpumalanga — Communities, farmers and individuals gathered yesterday to speak out on the daily realities of living in a town with the most polluted air in the world. This public speak out took place in, which directly translated means “place of coal.” Emalahleni is part of the escalated and peaceful actions organised by...