The quest by the Federal Government to end gas flaring would soon yield better results, as Clarke Energy, said it has employed containerized gas engines for the production of power using the flared gas.

Promoters of the Bank of Industry/United Nation’s Development Programme’s, UNDP, Access to Renewable Energy, AtRE project, have cited lack of finance and funding as the major factor hindering the development of renewable energy in Nigeria.

Among the top 10 performing stocks in the previous week were Academy Press, Paints & Coating Manufacturers Nigeria, PCNM, Neimeth International Pharmaceuticals, Berger Paints Plc, Vitafoam Nigeria Plc, and IPWA Plc. Others are Cutix Plc, Forte Oil, Evans Medical, and Champion Breweries Plc.

The Transmission Company of Nigeria (TCN) has engaged an international information communication technology firm, Penuel Consulting for the management and monitoring of transmission lines around the country through the use of modern ICT tools.

Forte Oil Plc, one of the leading indigenous petroleum marketing companies in Nigeria has said that part of its portfolio expansion will include upstream, refining and power to consolidate on its existing businesses, even as its attempts to acquire Shell’s OML 30 was aborted in 2010.

To engender a cleaner and safer environment, the Lagos Waste Management Authority, LAWMA, has concluded plans to commence the enforcement of appropriate waste storage bins by operators of fuel stations, garages and other businesses sited along the major highways in the state.

That issue of shares buy back is based on different reasons. The first is that a company may decide to buy some of its shares back in order to give robust dividend for its shareholders. Or if the company feels that its share capital is too big and may not be able to service it with dividend. They will have to embark on buying back some of the shares so as to be able to cater for the others. But this is always done when the price of the shares is very low.

…Says developing countries lost $1.6trn in one year
Inter-Governmental Action Group against Money Laundering in West Africa (GIABA) has emphasized the need for governments in Nigeria and across the world to step up their fight against money laundering.

The Statistician-General of the Federation, Dr Yemi Kale has appealed to households to cooperate with the Bureau enumerators to collect statistical information that will guide government in creating jobs in the country.

The Minister of Power, Prof. Chinedu Nebo, has said that Nigeria in its quest for new energy mix would leverage on Turkish expertise in Thermal and Hydro power sources.

Promoters of the Bank of Industry/United Nation’s Development Programme’s, UNDP, Access to Renewable Energy, AtRE project, have cited lack of finance and funding as the major factor hindering the development of renewable energy in Nigeria.

Iraq agreed in principle on Monday to provide both Egypt and Sudan with crude oil to be purchased on credit, Egyptian state news agency MENA reported on Monday.

By Michael Eboh, with agency report After an 18-month delay, the Angola LNG plant in the country’s northeast Soyo region has been completed. The US $10 billion plant with a capacity to produce 5.2 million metric tons per year (MMmt/y) of LNG has commenced initial production. The project will collect and transport natural gas from […]

Statoil and Tullow Oil are completing a test well that could lead to the first commercial discovery of oil in Mozambique.
The partners are hoping to extract 200 million barrels of oil from the offshore Cachalote well.

In line with its culture of celebrating outstanding business performance as well as excellence in trade Airtel Nigeria, rewarded its top performing trade partners with an array of exotic prizes ranging from the latest editions of highly-sought-after Sports Utility Vehicles (SUVs) to top-rated business machines.