IBBL have technology for quick oil discovery and drilling

The Ibrahim Badamasi Babaginda University Research Centre, Lapai, Niger, on Thursday said it has introduced a technology for quick crude oil discovery and drilling.Prof....

Abandonned power equipment worth N1bn, rust at bonded terminals

The Federal Government may investigate the N1 billion power equipment which was abandoned at bonded terminals in Lagos, correspondent has learnt. Their abandonment is believed to have...

Oil prices edge up; rises up this year lows amid exports...

Oil prices on Friday bounced up off the year's lows as some producers reduced exports and U.S. rig additions slowed, but the rebound was...

Transcorp Power inaugurates $28 million gas turbine plant

Transcorp Power Limited, a subsidiary of Transcorp Plc, on Monday inaugurated the 115-megawatts Gas Turbine 15 at its Ughelli Power Plant, bringing the capacity...

Why we play big in power sector – UBA GCFO

United Bank for Africa Plc has explained its huge funding plans to the power, oil and gas sectors of the economy. Speaking at a media...

Oil down 5% on surprise build in U.S. crude, gasoline stocks

Oil prices slid 5 percent on Wednesday to a one-month low, after an unexpected increase in U.S. inventories of crude and gasoline fanned fears...

Shell knew ex-minister’s company would get oil-deal cash

Royal Dutch Shell Plc said it knew some of the $1.1 billion paid to the Nigerian government in 2011 for an exploration license would...

US pushes ahead with electricity plan for Nigeria

The United States government is pushing ahead with its plan to boost electricity supply in Nigeria through the Power Africa initiative. The US Consul General,...

ExxonMobil pull out of Nigeria’s downstream oil to Nipco

United States-based ExxonMobil has divested its 60 per cent stake in Mobil Oil Nigeria Plc to Nipco Plc, an indigenous Nigerian downstream oil and...

Nigeria obtain $29 billion from Shell JVs in last four years

The royalties and corporate taxes paid by Shell to the Nigerian government last year increased to $1.4bn from $1.1bn in 2015 on the back...

Nigeria oil facilities free of attack in three months

Nigeria witnessed no pipeline vandalism arising from militant activities in the Niger Delta in the past three months, the Federal Government said on Wednesday.It...

Power company approve 200% increase in tariff

A new increase of over 200 per cent in electricity tariff being paid by residential consumers if a proposal by power distribution companies to...

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