Propriety of INEC’s quest for time extension
THE news of the resolution by the Independent National Electoral Commission (INEC) at its last retreat in Calabar to seek time extension for the forthcoming elections in January 2011 did not come to me as a surprise.
‘FG should stop oil firms from arbitrary cancellation of contracts , Adedoyin
Prince Ayorinde Adedoyin is the Managing Director of Peacegate Oil and Gas Limited in this interview he speaks on roles of indigenous ship owners in the implementation of the recently enacted Nigerian Content Law in the oil and gas industry.
Power reform: Indian Govt. supports FG with $100 million
The recent progress recorded in the Nigerian power industry may be on its way to another boost, as the government of India has, as a sign of international support for the Roadmap for Power Sector Reform the government, agreed to provide a $100 million line of credit to Nigeria for development of necessary infrastructure in the sector.
FG plans to raise World Bank credit for mining sector to $200m
THE Federal Government has sought an additional $80 million credit from the World Bank to enable the implementation of additional work necessary to trigger the full development of the mining sector in the country.
Nigerian Content: ExxonMobil pioneers use of Nigerian made pipes
FOLLOWING the passage into law of the Nigerian Content Act into law US energy giant, ExxonMobil has pioneered the use of made in Nigeria pipes in the oil and gas industry as the company is set to deploy Helical Submerged Arc Welded (HSAW) pipes fabricated locally by SCC Pipe Mills for its Usari-Idoho pipeline replacement project in Akwa Ibom State.
NSE: Investors lament over losses on value of investment
Investors on the Nigeri an Stock Exchange (NSE) last week, lamented over the unending decline on the value of their investment as the market indicators for measuring the performance indices the market capitalisation and the All share index both dropped by 1.33 per cent each.
Thomas Wyatt harps on funding, declares N67.57m gross profit
The management of Thomas Wyatt Nigeria Plc has stated that lack of available fund has been the bane of the growth of the company, even as it declares a gross profit of N67.57 million for the financial year ended March 31, 2010.
Oceanic Bank rewards outstanding employees
In keeping with its policy on staff motivation, Oceanic Bank International plc will on October 2, 2010 celebrate and reward outstanding staff in its annual Special Thanks and Recognition Scheme (STARS) awards programme.
First Bank rewards winners in its quarterly draw
In its quest to reward and empower its numerous customers across the country First Bank of Nigeria Plc recently, held the first quarterly draw of the ongoing Golden Promotion.
Local Content: Total’s Usan to generate 11M man hours
IN an effort to ensure strict compliance with the newly passed Nigerian content development Act, Total Upstream Nigeria Limited has announced that its ongoing Usan oil field project is generating a minimum of 11 million man hours of work In-Country, even as it moves to boost Nigeria’s production to about 2.8 million barrels of oil equivalent per day (boe/d).
Ghana, China Sign $3B Deal for O&G Sector
Ghana and China have signed deals totaling $15 billion during a five_day state visit to Beijing by Ghana President John Atta Mills, signaling the west African country’s rising prominence as an investment destination and future oil producer.
