An expert in the maritime and oil sectors, Mr. Emeka Akabogu, has urged Nigeria’s President-Elect, Muhammadu Buhari, to address challenges mitigating against the growth of the maritime and shipping sector such as operational efficiency and massive outsourcing of services to foreigners. Akabogu,
Ibrahim al-Muhanna, Saudi Arabia’s oil minister said the decline in oil prices is “temporary,” and crude is steadying at $55–60/bbl amid stronger global demand. The oil Minister made this remark in a speech he gave in Riyadh, adding that economic expansion in the U.S. and many developing countries together with growth in populations and […]
Fears that introduction of one million barrels of Iranian oil into the already saturated crude market would force further depression of oil price, peaked Tuesday – the self-imposed deadline by involved parties for a deal to lift sanctions on Iran. The marathon negotiations have been going on for some time now between Iran and foreign […]
The New Minister of State for Industry, Trade and Investment, Chief Kenneth Kobani has assumed duty at the Headquarters of the Ministry in Abuja, pledging to give priority attention in line with the ministry’s mandate to growing the economy through promotion of non-oil and industrial sectors. On arrival the Kobani was received by the Permanent […]
Shell has warned that fiscal stability is crucial to survive the current low oil price climate, else investments could dry up fast with production levels declining shortly afterwards. Vice President, Nigeria and Gabon Shell Up-stream, Markus Droll, made this assertion in his presentation on at the on-going Nigeria Oil and Gas (NOG) conference in Abuja, […]
The Chief Executive Officer of Total’s Nigerian producing unit, Elizabeth Proust has said that the French oil firm plans to see to the completion of two major projects in Nigeria this year that will add 60,000 barrel per day (b/d) of oil output to its portfolio despite the fall in oil prices. Proust said on […]
The battle for Libya’s oil wealth has taken on new dimensions as rival governments lay claim to the National Oil Company, further deepening divisions in the volatile North African nation. The latest row erupted this week as UN envoy Bernardino Leon, who is mediating between Libya’s warring factions, warned the country was heading towards destruction […]
The Federal Government has expressed confidence that the Petroleum Industry Bill, (PIB), before the National Assembly will be passed before the end of the current political dispensation which terminates by May 29. Minister of Petroleum Resources, Mrs. Diezani Alison-Madueke who was represented by Group Managing Director, Nigerian National Petroleum Corporation, NNPC, Mr.
Angry Ijaw youths have, again, threatened to disrupt operations of Chevron Nigeria Limited in Delta State, over the alleged unwarranted sack of three of its workers. Daily Times learnt that Comrade Okeoghene Timmy Okirika, alongside two others, were relieved of their posts by Chevron about two years ago, in a manner that had sparked wide […]
Governor Seriake Dickson of Bayelsa State has vowed to deal with any person or group of persons who parades him/themselves as ex-militants or whatever name trying to form any parallel government under his leadership in the state. Governor Dickson read the riot act on Friday in the state capital Yenogoa during an interactive session with […]
Investments in production and processing of palm oil has been identified and proven to be a veritable tool of poverty reduction and economic diversification. From being the world’s leading producer and exporter of palm oil in the 1960s, Nigeria has fallen to being a net importer to meet rising domestic demand. Largely, demand is primarily […]
