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 […]
Vandalism: Sambo urges protection of power facilities
HOST communities of power stations have been told to protect such installations against vandals so as to reap the benefits for which the projects were built. Vice President Namadi Sambo gave the charge last weekend at the commissioning of the 330/132/33kv at Oke-aro, a border line community between Lagos and Ogun states, built under the National Integrated Power Project, NIPP, of the Niger Delta Power Holding Company, NDPHC.
Oil glut worsens as OPEC market share battle begins – Report
NiGERIA may find it difficult to finance the 2015 budget going by the impending global oil glut. At a benchmark of $65 per barrel, it will be hard to fulfill its budgetary obligations due to the dwindling revenue occasioned by the oil glut. According to the International Energy Agency, IEA, a global oil glut is building as the Organisation of the Petroleum Exporting Countries, OPEC kingpin, Saudi Arabia, pumps near record highs in an attempt to win a market share battle against stubbornly resistant U.S. shale production.
OTC: Cautious optimism, commendation trail participation
PARTICIPANT at the just concluded Offshore Technology Conference, OTC, in Houston, Texas, have expressed cautious optimism at the level of attendance by Nigerians to the conference, regarded as the biggest oil and gas event in the world. The Managing Director of Kaztec Engineering Limited, Mr. John Niezner, said that though the low oil prices may have affected the attendance, focus should be on how to reduce cost in the industry.
GE completes Shell’s subsea tree refurbishment …Achieves 40% growth
GE Oil & Gas said it has completed the first refurbishment of subsea production trees for Shell Nigeria Exploration and Production Company, SNEPCo at its service base in Onne, Rivers State. The feat, reputed as the first-of-its-kind to be done in Nigeria, highlights GE’s commitment to investing in Nigeria and demonstrating the high-value services offered to its customers.
FG reiterates commitment to regulate use of explosives
ABUJA- THE Federal Government has reiterated its commitment to the regulation for the use of explosives in mining activities by operators in the sector. The reassurance was made by the Minister of Mines and Steel Development, Mr. Musa Sada, while delivering a keynote address at the Stakeholders Forum on the Draft Explosives Act and Regulations held in Abuja. Sada said that the ministry deemed it necessary to convey the meeting to take stock of views and inputs by stakeholders in the mining industry on the Explosives Act, as it concerns new provisions for export, use, and security of explosives.
