Oyedele at UNGA: ‘Africa needs affordable capital to finance infrastructure’
The Minister of Finance and Coordinating Minister of the Economy, Mr. Taiwo Oyedele, has called for a major shift in the global approach to financing Africa’s development, urging the international community to make affordable, long-term capital available for infrastructure and energy projects across the continent. Oyedele, who made the call at the United Nations Dialogue […]
Seven Energy begins gas supply -to-Calabar power
Seven Energy International Limited, an indigenous Nigerian integrated gas Company has commenced the supply of gas to the 560 megawatts, MW, Calabar National Integrated Power Project, NIPP. The commercial delivery of gas to Calabar NIPP commenced in March 2015, and is being executed through Accugas, a wholly-owned subsidiary of Seven Energy. When operating at full capacity Calabar NIPP will increase national power generation by over 10 per cent.
Oil firms risk losing equities over indebtedness
Oil and gas firms that borrowed huge amount of money at high interest rates from financial institutions in the country would be forced to relinquish some of their stakes to the banks if they hope to continue in business, Vice President, FBN Capital, Ms. Rolake Akinkugbe, has declared. Akinkugbe, in an article in: The Oil and Gas Year, warned that marginal fields’ operators that are yet to commence production on their fields will be the worst affected.
Don’t toy with petroleum industry -Okwuosa
The passage of PIB will be a welcome development for the industry. but make no mistakes, whatever is passed as the PIB, make sure it is fit for purpose and addresses the requirements that we need in Nigeria as a country, as investors, as communities and every impacted systems or entities; it has to be well looked into so that we don’t have a law that will send us backwards.
Oando to invest $36m in gas compression
Gas production is set to increase by 20 million cubic feet as Oando Group announced plans to invest $36 million, about N7.2 billion, in the construction of three gas-compression plants in the country within the next one year. In an interview with Bloomberg in Lagos, Bolaji Osunsanya said the plants with an initial capacity of 20 million cubic feet of gas per day, are to be located in Aba, Abia State; Port Harcourt, Rivers State; and a third to be located in central Nigeria.
Conoil acquires mega aircraft fuellers
Oil marketing company, ConoilPlc, said it has placed orders for two new world-class, state-of-the-art bowsers to deepen its quality service delivery to domestic and international airlines operating in the nation’s airspace. The company said in a statement that the new bowsers have combined storage capacity of 62,000 liters and the ability to refuel aircraft at 1,500 liters per minute.
