Oil firms rein in spending to save cash for dividends

Oil and gas firms are cutting back on investments to try and improve profits and save cash for dividends, perhaps signalling an end to...

CAMAC Energy announces arrival of rig to drill OYO-7 well

CAMAC Energy has been informed by Allied Energy that the Sedneth 701 drilling rig has arrived on location at OML 120, offshore Nigeria, and...

$10bn power agreement faces gas supply challenge – GE

The implementation of the $10 billion Memorandum of Understanding (M0U) between the federal government and General Electric (GE) for the generation of 10,000MW is...

Dangote signs deal to build oil refinery

Africa's wealthiest man, Aliko Dangote, has signed a multi-billion dollar deal with banks to finance the building of an oil refinery in Nigeria. The refinery...

Customs, APMT at logger heads over physical examination bay

Apapa Area1 Command of the Nigeria Customs Service, NCS, and the Management of the APM Terminals Apapa Limited are presently engaged in war of words...

We’re committed to gas resource development – Accugas

The Managing Director, Accugas Limited, a subsidiary of Seven Energy International Limited, Mr. Stephen Tierney, said the company is committed to Nigeria’s gas resource...

Nigeria will cut fuel importation by 2016 – Dangote

Africa’s richest man and President of Dangote Industries Limited (DIL), Alhaji Aliko Dangote, yesterday promised to reduce by 50 per cent the importation of...

Eni lifts force majeure from Nigerian Brass River crude exports

Eni SpA has said that the force majeure imposed on its Nigerian Brass River crude oil exports in March has been lifted. "We removed the...

Pacific Khamsin drillship delivered to Pacific Drilling

Pacific Drilling S.A. announced that it has taken delivery of its newest drillship, the Pacific Khamsin. The drillship begins mobilizing to Nigeria today, where it...

Total Nigeria Plc – Battling with high finance costs

When shareholders of Total Nigeria Plc, the highest priced stock in the petroleum products marketing sector of the Nigerian Stock Exchange (NSE) met last...

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