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...

Oil tycoon, Michael Prest to pay ex-wife £17.5m divorce settlement, UK court rules

Former wife of Nigeria’s oil tycoon, Michael Prest, Yasmin, on Wednesday, won a United Kingdom Supreme Court ruling giving her the right to force...

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...

Nigeria needs robust policy to be able to harness gas potential – UK

The United Kingdom has advised Nigeria to develop a robust policy with strong legal framework to harness its huge gas reserves. The British Deputy High...

TCN acquires N471m software to monitor electricity lines

The Transmission Company of Nigeria has announced the acquisition of a N471m software to enable it monitor activities on power transmission lines and other...

Shell builds 6-classroom block for community 24 years after oil spill

Shell Petroleum Development Company has built a six-classroom block for Ogodobiri community in Burutu Local Government Area of Delta State, 24 years after the...

Enugu Disco affirms ownership of Aba electric firms

Interstate Electrics, winner of the Enugu Electricity Distribution Company, Enugu Disco, has said that the lease agreement of April 28, 2005, that purportedly granted...

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...

Naira may fall further as a result of increased government spending

The possibility of an increase in government due to the emergency rule declared in Borno, Yobe and Adamawa states may result to further depreciation...

Oil & gas insurance: Local retention rises by over 400% – NAICOM

Contrary to insinuations that objectives of the Local Content policy in the insurance industry, were yet to be achieved, the National Insurance Commission (NAICOM)...

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