Wednesday, September 19, 2018

Tag "oil and gas"

    Kachikwu: New oil licences will be issued when PIGB becomes law

Kachikwu: New oil licences will be issued when PIGB becomes law

Ibe Kachikwu, minister of state for petroleum resources, says new licences for oil blocks will be issued when the petroleum industry governance bill (PIGB) is passed by the national assembly. [...]

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    Niger Delta youth demand ‘oil and gas colony’

Niger Delta youth demand ‘oil and gas colony’

The Niger Delta Youth Leadership Forum (PANDLEAF) has asked the federal government to establish an oil and gas colony in the region.Speaking at the inauguration of the Bayelsa state chapter of PANDLEAF in Yenagoa on Saturday, Richard Akinaka, president of the forum, said if the government wants colony for cattle, the Niger Delta people also need one for oil and gas.The government [...]

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    World Bank: We’ll stop financing oil and gas projects after 2019

World Bank: We’ll stop financing oil and gas projects after 2019

The World Bank says it will stop financing upstream oil and gas projects after 2019.The Bretton Wood institution made this known on Tuesday at a climate summit intended to boost global shift to cleaner energy."As a global multilateral development institution, the World Bank Group is continuing to transform its own operations in recognition of a rapidly changing world," the bank [...]

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    Research on ‘post-oil world order’ is key, Osinbajo tells stakeholders

Research on ‘post-oil world order’ is key, Osinbajo tells stakeholders

Vice-President Yemi Osinbajo has charged stakeholders in the oil industry to invest in research and clean energy initiatives for a “post-oil world order”.Speaking at the 55th anniversary of the Oil Producers Trade Section (OPTS) of the Lagos Chambers of Commerce and Industry (LCCI), Osinbajo said the federal government knows the importance of diversifying from oil.“Oil-rich countries, such as ourselves, have [...]

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    ExxonMobil, world’s largest oil company, quits Nigeria’s downstream sector

ExxonMobil, world’s largest oil company, quits Nigeria’s downstream sector

ExxonMobil, the world's largest oil company by market value, has quit Nigeria's downstream oil sector, divesting its 60 percent stake in Mobil Oil Nigeria (MON).In a statement circulated on Thursday, the company, which has a market value of $460 billion – more than Nigeria's gross domestic product (GDP) – said it made business sense to quit the downstream oil sector at [...]

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    Eni boss ‘under investigation’ over Nigerian deal

Eni boss ‘under investigation’ over Nigerian deal

Barely four months into his appointment as chief executive officer of Eni SpA, Claudio Descalzi has been placed under investigation over corruption charges relating to the acquisition of Nigeria's OPL-245 offshore oil block in 2011.Descalzi is accused of bribery for the deal, which took place when he was the head of Eni's oil division.According to Reuters, the ownership of the controversial [...]

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    Non-oil export ‘grew by 16 per cent’ in 2013, says NEPC

Non-oil export ‘grew by 16 per cent’ in 2013, says NEPC

Nigeria’s bid to diversify from oil to other sectors of the economy appears to be yielding fruits, as non-oil exports increased by 15.9 per cent from $2.561 in 2012 to $2.970 billion the following year.According to the Nigerian Export Promotion Council (NEPC), revenues from the Nigerian non-oil sector are gradually catching up with those from the upstream and downstream sector of the [...]

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    Caverton is first oil services company to list on NSE

Caverton is first oil services company to list on NSE

Caverton will list on the Nigerian Stock Exchange (NSE) on May 20, according to a statement issued Sunday night by the leading provider of marine, aviation and logistics services to local and international oil and gas companies in the country.When the company's 3.35 billion shares are listed for trading at N9.50 per share, it will become the first Nigerian oil services company [...]

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Exchange Rates

September 18, 2018USDGBPEUR
INTERBANK360.45480.18420.32
LAGOS360485425
KANO361483423
PH362482423
ABUJA362481423
NOTE: The black market rates represent the most prevalent. They could be slightly higher or lower among different sellers.
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