Investors to take over NDPHC plants by June 2014

Successful investors will take over the 10 National Integrated Power Plants in June 2014, the Bureau of Public Enterprises has said. The Director-General, BPE, Mr....

FEC approves N420bn contract for development of Onne Port

The Federal Executive Council (FEC) has approved a 2.8 billion dollars (about N420 billion) contract for the development of the Onne Oil and Gas...

WorleyParsons shares rise on Nigerian oil deal

Shares in mining engineer WorleyParsons are up three per cent after a South Korean shipbuilding giant awarded it a $US100 million ($A105.97 million) offshore...

FG inaugurates GE’s $1bn power facility in Cross River

The Federal Government, Tuesday, flagged-off the construction of the General Electric’s (GE’s) $1 billion (about N160 billion) multi-model power manufacturing and services facility in...

Lekoil plots offshore OML 113 acquisition

Junior explorer Lekoil announced Tuesday that it is planning to acquire a 6.5-percent participating interest in the OML 113 block, offshore Nigeria, for $30...

Local banks determined to fund investors on power projects

Banks in Nigeria have resolved to join in funding interested local investors of the 10 National Integrated Power Projects (NIPP) when the privatisation exercise...

Shell laments inability of Nigerian banks to finance major oil transactions

The Shell Nigeria Exploration and Production Company (SNEPCO) has lamented that all companies that purchased its recently divested interests in the country drew funds...

Samsung Heavy wins $3bn FPSO platform order from Nigeria

South Korean shipbuilder Samsung Heavy Industries said Thursday it had won a $3.0 billion order to build a giant offshore oil storage platform in...

FG Woos European Investors on 80% Interest in NIPP Plants

The federal government Wednesday wooed European investors to acquire 80 per cent stakes in 10 power stations built under the National Integrated Power Project...

Jonathan orders recovery of $9.6bn underpayment from oil companies

President Goodluck Ebele Jonathan has directed all agencies affected by the audit reports of Nigerian Extractive Industries Transparency Initiate (NEITI) to recover the outstanding...

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