IN a letter to Aker, Ghana’s Minister of Energy asserts that the company’s offshore exploration and development license in Ghana is invalid. Aker does not see any foundation for such an assertion.

ABUJA – The Vice President, Dr. Goodluck Jonathan, has blamed the inconsistency in policy making for the nation’s inability to meet with the 6,000 megawatts of electricity it had targeted for December 31, 2009.

THE Executive secretary of the petroleum product price regulating agency (PPPRA), Mr Abiodun Ibikunle has said that N300billion fuel subsidy has been payed to major marketers and the independent marketers since August last year.

PETROLEUM Geo Services (PGS), has stated that it is committed to surpassing the Nigerian content initiative of the federal government and that underscores the reason for its business development initiative which has brought to the fore, the growing importance of its West Africa operations.

TECHNIP has been awarded a lump sum contract by Noble Energy EG Ltd. for the development of the Aseng field, located in Block “I” offshore Equatorial Guinea, at a water depth of approximately 1,000 meters.

ABUJA – The Nigerian National Petroleum Corporation, NNPC and the National Union of Petroleum and Natural Gas Workers have resolved to work together to ensure the smooth passage of the Petroleum Industry Bill currently before the National Assembly in order to impact positively on the Nigerian economy.

The Group Managing Director/Chief Executive, Union Bank of Nigeria Plc, Mrs. Funke Osibodu, has called on auditors/bank inspectors nationwide to embrace risk based auditing as a way of abating the spate of high corporate failures witnessed in the country in recent times.|

INVESTORS’ interest in Federal Government’s bonds heightened last week, as their investment in the Over-the-Counter Bond Market appreciated by 0.82 per cent.

AS part of effort towards enhancing the Nigerian economy, Standard Chartered Bank has announced plans to provide corporate loan to Obajana Cement Plc.

CONTROVERSY has continued to trail the call by the Federal Government for Nigerians to consider the usage of alternative fuel as a means to solving the lingering fuel scarcity currently rocking the nation and crippling businesses.