• Oil Marketers Groan Over N660bn Debt

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    Despite assurances by the federal government of steady availability of petrol, marketers have given indication of scarcity of the product in the coming weeks. They said they can no longer continue with the distribution of the product due to debt of N660 billion allegedly owed them by the government in addition to the scarcity of…

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    BoI Unveils N1bn Solar Energy Fund

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    In pursuance of its Green Energy Project, the Bank of Industry on Friday in Lagos launched its 1 billion naira solar energy fund to boost its off-grid electricity generation project. The fund would be made available to firms partnering with the bank in the development of solar energy services across the country. Speaking at the…

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  • Pensions Funds Administrator In Police Net

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    The Lagos police command has arrested Nze Chidi Duru, a former member of the House of Representatives for alleged criminal invasion of First Guarantee Pensions Limited office, and carting away confidential documents and company vehicles. The arrest and detention of Duru was on the orders of the Inspector General of Police, Ibrahim Idris. Duru in…

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    OPEC Crude Overhang To Disappear In 3rd Quarter 2017– S&P

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    The first Organization of Oil Exporting Countries (OPEC) led global production cut in 15 years underpins an emerging but fragile recovery, with 2017 set to see a huge stock overhang disappear by the third quarter. When this happens the market will move from over-supply to a more balanced supply/demand situation according to S&P Global Platts…

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    NNPC Targets 60% Local Refining Capacity In 2017

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    The Nigerian National Petroleum Corporation (NNPC) said it has commenced efforts to reduce product importation by boosting the capacity utilisation of the nation’s refineries to 60 per cent by the end of 2017. “We are putting together various programmes to ensure that we achieve at least 60 per cent local refining by the end of…

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    SacOil Wins NNPC Crude Term Contract

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    Oil and gas firm SacOil Holdings Ltd has said that its SacOil Energy Equity Resources Ltd joint venture has been awarded a crude oil term contract by the Nigerian National Petroleum Corporation, NNPC. According to SacOil, the terms of the contract and regulatory of off-take by the SEER venture will be dependent on aggregate crude…

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