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All posts by BusinessNews Staff

  • Indigenous Firm Identifies Oil in Mature Well

    Oildata, a pioneer Nigerian oil and gas service company has deployed for the first time novel digital reservoir monitoring technology, which successfully identified zones of by-passed hydrocarbons in an old oil well for one of the major...

    • Posted March 29, 2011
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  • Power Supply: Egbin Station Hits Over 1,000mw

    With the recent inauguration of a newly installed Hydrogen Plant and the repair of the Station Turbine 1 (St -01), the power generation of Egbin Electric Power Plc, the highest gas-fired power station in Nigeria, has hit...

    • Posted March 29, 2011
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  • Solid Minerals: Nigeria Gets 2012 Deadline

    Weeks after Nigeria achieved the Extractive Industries Transparency Initiative (EITI) compliance status one month ahead of schedule, the country is set to begin audit of her solid minerals sector to meet up with the June 2012 deadline...

    • Posted March 29, 2011
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  • FG Partners Firm for 10m Jobs

    As part of efforts to create more jobs in Nigeria to tackle the growing scourge of unemployment, the Federal Government is partnering with Dermo Impex Nigeria limited, a subsidiary of an Italian firm, Dermo Impex, Italy, to...

    • Posted March 29, 2011
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  • ‘OPEC’ll Not Increase Crude Production’

    Iranian Oil Minister Massoud Mirkazemi said the Organisation of the Petroleum Exporting Countries (OPEC) will not increase crude output. Mirkazemi, who holds the OPEC rotating presidency, told Mehr News Agency  that there is no need for an...

    • Posted March 29, 2011
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  • Conoco Considers Exit from Nigeria, Libya, Three Others

    ConocoPhillips, a Houston-based integrated energy company and  key player in Nigeria’s oil and gas sector has announced plans to sell between $5 billion to $10 billion worth of non-core assets in Nigeria,  war-torn Libya and three other...

    • Posted March 29, 2011
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  • Interest Rate: Increase’ll Cause Manufacturers Intense Pain – OPS

    The Organised Private Sector (OPS) have  said   the  increase in interest rate from 6.5 percent to 7.5 percent by the Central Bank of Nigeria (CBN) would cause manufacturers and industrialists intense pain. Responding to the development, the...

    • Posted March 29, 2011
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  • Nigeria’s $500 Eurobond’s Performance Linked to Elections

    Analysts have tied the fate of Nigeria’s $500 million debut Eurobond to the outcome of the April general election, saying  a smooth electoral process is what could differentiate it from other political hotspots in the continent. According...

    • Posted March 29, 2011
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  • FMBN to Finance Housing Estates for Benue Workers

    Managing Director of the Federal Mortgage Bank of Nigeria (FMBN), Mr. Gimba Ya’u Kumo, has disclosed that the bank will finance more housing projects for civil servants in Benue State. A statement from the institution Monday  quoted...

    • Posted March 29, 2011
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  • Shareholders’ Group tasks NSE on investors confidence

    SHAREHOLDERS group under the aegies of Progressive Shareholders of Nigeria has urged the Nigerian Stock Exchange (NSE) to shun the planned demutualisation of the Exchange and address the issue on how to restore confidence in the market....

    • Posted March 28, 2011
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