By OLATUNDE DODONDAWA OPEC and its partners are unlikely to decide on their output policy in April as it would be too early to get a clear picture of the impact of their supply cuts on the market by then, three OPEC sources said on Monday. The sources said […]
Author: Editor
NEITI confirms Nigeria loses $16bn to PSCs in 10 yrs
By Olatunde Dodondawa The Nigeria Extractive Industries Transparency Initiative (NEITI) has stated that Nigeria lost at least $16 billion in 10 years due to non-review of the 1993 Production Sharing Contracts (PSC) with oil companies. This was contained in NEITI’s latest report titled “The Steep Cost of Inaction” released in […]
EKEDC assures reliable electricity supply, signs conditions of service with workers
By Olatunde Dodondawa The Eko Electricity Distribution Company Plc (EKEDC) has assured electricity consumers within its network of safety and reliable supply. Mr Adeoye Fadeyibi, the Chief Execultive Officer, of the company gave the assurance during the signing of workers conditions of service with the National Union not Electricity Employees […]
Why NNPC needs more reforms-NNRC
The Nigerian National Petroleum Corporation (NNPC) has introduced series of reforms aimed at boosting the public’s perspective from being an opaque business entity to a more transparent business entity. In this report, OLATUNDE DODONDAWA examines why the Nigerian Natural Resource Charter (NNRC) said, in its latest Benchmarking Exercise Report (2017 […]
Total starts up production on Egina field
T Total has started up production on December 29, 2018 from the Egina field, located in around 1,600 meters of water depths, 150 kilometers off the coast of Nigeria. At peak, the Egina field will produce 200,000 barrels of oil per day, which represents about 10 per cent of Nigeria’s […]
How NDPHC intervenes in power sector crisis
It is a public knowledge that epileptic power supply hurts the economy of any nation. Nigeria was once unfortunately named to occupy the 70th spot on the global electricity production chart by the CIA World Fact book. In this report, OLATUNDE DODONDAWA examines the intervention of Niger Delta Power Holding […]
Boko Haram seizes more Borno towns
Despite denials by the Nigerian military, Boko Haram fighters seized Baga, Doron-Baga, Kross Kawwa, Bunduran, Kekeno and Kukawa towns of Borno State after three days of fierce battles from Wednesday to Friday last week, Daily Trust learnt from impeccable military and political sources in Maiduguri on Sunday. All six towns […]
NNPC assures of adequate supplies of petroleum products despite vandalized pipeline fire outbreak
Olatunde Dodondawa, Lagos The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has assured of adequate petroleum products supply in Lagos and its environs despite a fire outbreak which occurred in the wee hours of Wednesday from a portion of the vandalised NNPC pipeline at […]
China sparked an economic miracle — now there’s a fight over its legacy
WhenVictor Gao was growing up in rural China in 1970s, cars and trucks were so rare he would chase them with the other children through the dirt roads, overjoyed by the strange sight. Today,China is the world’s largest automobile manufacturer, with more than double the capacity of the United States. […]
Court restrains LADOL from ejecting Samsung Heavy Industries
A Lagos State High Court sitting in Igbosere has granted aninterlocutory injunction restraining Global Resources ManagementLimited and LADOL from ejecting Samsung Heavy Industries Nigeria(SHIN) Limited and its subsidiary, SHI-MCI FZE, from the LADOL freezone in Lagos, pending the delivery of the judgment to the substantivesuit on January 25, 2018. A […]