Sunday April 26th, 2015
Sunday April 26th, 2015
Latest

FG to stop ship importation from January 2015

  /   in Sweet Crude 12:06 am   /   Comments

FPSO Vessel

The Federal Government,has declared that with effect from January 2015, maritime vessels purchased overseas without inputs from local ship builders in Nigeria will not be allowed to operate in Nigeria.

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‘Gas shortage stunts Nigeria’s manufacturing sector’

  /   in Sweet Crude   /   Comments

gas

The Manufacturing Partnerships for African Development, MPAD, has lamented the persistent gas shortages at power stations, saying that it is unfavourable to manufacturing industries plants as well as hindering it’s input to the development of country’ economy.

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Bayelsa communities unveil SPDC sponsored projects

  /   in Sweet Crude   /   Comments

For communities in the hinterland of Bayelsa State where there is hardly any local and state government presence, the people are always looking up to the oil and gas multinationals to provide them with basic amenities in spite of the reservations about their activities.

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Ship Chandlers seek FG intervention

  /   in Sweet Crude 9:13 pm   /   Comments

M.V Gumel the ship suspected to be carrying Toxic waste at the Tincan Island Port Lagos. Photo: Nwankpa Chijioke

Chandlers’under the aegis of Nigerian Licensed Ships Chandlers’ Association, NLSCA, have cried to the federal government to come to their aid over the complete take – over of their business by foreign operators.

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Insurance operator harps on competency

  /   in Sweet Crude   /   Comments

insurance-pix

Managing Director of Wema Bank Insurance Brokers, Mr. Gbenga Olawoyin, has said that insurers and brokers need to ensure that adequate and competent skills are deployed and backed with robust energy reinsurance package in order to fully actualise the potentials provided by the Petroleum Industry Content Development Act 2010 and the NAICOM guidelines for oil and gas insurance business in Nigeria.

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Oando to train 5,000 mechanics

  /   in Sweet Crude   /   Comments

Lady-Mechanic1

Oando Marketing, a subsidiary of Oando Energy Resources PLC has said that it will train 5,000 mechanics as part of contribution to the federal government’s auto policy.

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Diezani Alison-Madueke scored another firs

  /   in Sweet Crude   /   Comments

Diezani Alison-Madueke

Nigeria’s Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke scored another first with her election as the first female President of the Organisation of Petroleum Exporting Countries, OPEC, at their just concluded meeting in Vienna, Austria.

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Irregularities mar privatisation exercise over banks’ lending to power firms

  /   in Sweet Crude   /   Comments

economy

Several months after the privatisation exercise in the power sector, a disturbing issue has emerged which raises a number of questions over the roles played by Nigerian banks in the sale of the assets.

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Nigeria orders Shell to pay $4billion over oil spill in Bonga

  /   in Sweet Crude   /   Comments

OIl spill

Nigeria’s House of Representatives committee onenvironment has demanded Shell to pay $3.96 billion, (aboutN604billion), for the 2011 spill at its offshore Bonga oilfield of damage to the environment. The non-binding decision comes after years of analysis by various Nigerian state agencies, which have proposed a range of fines as high as $11.5 billion.

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Allow PTDF focus on its job, group appeals

  /   in Sweet Crude   /   Comments

PORT HARCOURT: A group, Centre for Sustainable Growth and Good Governance, has expressed strong worries with developments in the Petroleum Technology Development Fund, PTDF, saying the indiscriminate sack of principal staff of the organisation in the last one year, could impact negatively on the projects of PTDF.

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ELECTRICITY: So far, so frustrating

  /   in Sweet Crude 5:35 pm   /   Comments

electricity-NIGERIA

November 1, 2013, the federal government unbundled Power Holding Company of Nigeria, PHCN, which gave birth to five generating companies, GENCOs, and 10 distribution companies, DISCOs, many Nigerians heaved a sigh of relief.

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Govt is trying to stabilise electricity market -Nebo

  /   in Sweet Crude   /   Comments

Prof Chinedu Nebo

Govt is trying to stabilise electricity market -Nebo

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Oando calls for integrated gas development

  /   in Sweet Crude   /   Comments

oando1

The Managing Director of Oando Gas and Power, Mr. Bolaji Osusanya, recently emerged President of the Nigeria Gas Association, NGA, at the just concluded NGA West Africa Gas Strategy conference held in Abuja.

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FG to deploy e-registration to check products adulteration

  /   in Sweet Crude   /   Comments

A refinery

The Department of Petroleum Resources, DPR, has condemned the high rate of petroleum products adulteration, adding that the Department is set to flag-off an online registration of trucks and depots to curb this threat that has eaten deep in the oil industry.

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Exxon, Chevron post higher earnings despite low oil prices

  /   in Sweet Crude   /   Comments

Oil Installation

Falling oil prices hardly seem to be bothering the two biggest U.S. oil companies, but things could get tougher in the coming months.

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Nigeria loses $84.9m annually to energy waste

  /   in Sweet Crude   /   Comments

Renewable-energy

Programme Coordinator on Energy Efficiency Programme of the United Nation Development Programme, UNDP, Mr. Etiosa Uyigie, has said that Nigeria’s non-compliance to international best practice on the efficient use of electricity is costing the country about $84.9m annually.

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Electricity Prepaid Meter

  /   in Sweet Crude   /   Comments

Prepaid meters

Electricity is a great solution for many residents. Increasingly residents are getting tired of paying excess electricity bills.

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Power sector creates 4,937 new jobs

  /   in Sweet Crude   /   Comments

Electricity-new

The impact of the reform in Nigeria’s power sector is yet to be felt, as the electricity sector generated 4,937 new jobs in six months, between January and June 2014, the National Bureau of Statistics, NBS, has disclosed.

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‘There’s no growth without competition’

  /   in Sweet Crude   /   Comments

electricity

Unless the Federal Government entrenches competition in the Nigerian power sector, the goals and targets envisaged for the sector would not be achieved, said Prof. Adeola Adenikiju, Head, Centre for Petroleum, Energy Economics and Law, University of Ibadan.

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Price unchanged in stable steel market

  /   in Sweet Crude   /   Comments

steel

The Chinese domestic iron ore concentrate price was unchanged over the week in an overall stable domestic steel market, industry sources said.

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NESP powers 5 states with €24.5m

  /   in Sweet Crude   /   Comments

electricity

The Nigerian Energy Support Programme, NESP, has commenced its intervention in five states in the country as part of activities to boost rural electrification with €24.5million

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UniPort, NESREA to collaborate on environment studies

  /   in Sweet Crude   /   Comments

Energy-local-content

PORT HARCOURT: Vice Chancellor of the University of Port Harcourt, Prof. Joseph Ajienka, has called for collaboration between the University and the National Environmental Standards and Regulations Enforcement Agency, NESREA, to strengthen environment studies in the institution.

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Nickel leads industrial metals higher on Japan stimulus

  /   in Sweet Crude   /   Comments

Nickel led most industrial metals higher after the Bank of Japan unexpectedly increased monetary stimulus and before an official gauge of Chinese manufacturing.

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Workers laud PPMC repositioning

  /   in Sweet Crude   /   Comments

Gas Pipeline

WORKERS of the Pipelines and Product Marketing Company Limited, PPMC, have commended the Prince Haruna Momoh-led, management for repositioning the company, which is aimed at ensuring steady supply of petroleum products to the market.

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Chevron commissions N530m estate in Kula

  /   in Sweet Crude   /   Comments

economy

PORT HARCOURT: Chevron has described the Global Memorandum of Understanding, GMoU, engagement model it introduced in 2005 as a way to create robust economies in the Niger Delta region.

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Pirates target oil tankers in Asia route as attacks climb

  /   in Sweet Crude   /   Comments

FPSO Vessel

Hijackings of small oil tankers by armed gangs are increasing in Southeast Asia, home to the shortest sea-trade route between the Middle East and China, even as pirate attacks globally fell for a third year.

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Credit Suisse reiterates outperform rating for Noble Corp

  /   in Sweet Crude   /   Comments

A refinery

Noble Corp Plc’s stock had its ‘outperform’ rating restated by equities research analysts at Credit Suisse, a financial services and insurance company, in a research note issued to investors.

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Nwapa calls for local investment in technology

  /   in Sweet Crude   /   Comments

The Wired World: A graphic representation of the Internet

PORT HARCOURT: Executive Secretary, Nigerian Content Development and Monitoring Board, NCDMB, Mr Ernest Nwapa, has charged indigenous oil and gas companies to grow local technology for the sector.

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Credit Suisse reiterates outperform rating for Noble Corp

  /   in Sweet Crude   /   Comments

Noble Corp Plc’s stock had its ‘outperform’ rating restated by equities research analysts at Credit Suisse, a financial services and insurance company, in a research note issued to investors.

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Expert calls for self reliance in underwriting complex risks

  /   in Sweet Crude   /   Comments

Managing Director/Chief Executive Officer of Financial Institutions Training Centre, FITC, Dr. Lucy Newman, has charged Nigerian insurers to be self-reliant in-terms of technical expertise, especially in underwriting large and complex risks like oil and gas.

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Latest

Gas shortage stunts Nigeria’s electricity growth

  /   in Sweet Crude 4:38 am   /   Comments

Electricity-new

Recently, the Federal Government paid a legacy debt in excess of N213 billion to, among others, boost the supply of gas to the power sector. However, SEBASTINE OBASI writes that Nigerians have remained apprehensive over a number of issues undermining the sustainable supply of electricity as promised by government.

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Bristow Helicopters invests $1m in power

  /   in Sweet Crude   /   Comments

*The Federal Government has failed on its promise to achieve the target of 6,000 Mega Watts (MW) of electricity generation last December

Offshore logistics and service provider, Bristow Helicopters, has said it is investing over $1million in a gas-to-power project, for its Logistics Base at the NAF Base, Port Harcourt, Rivers State.

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