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  • ConocoPhillips to split into two separate companies

    ConocoPhillips, the third-largest US oil company, said Thursday it would split into two separate firms, one focusing on production and exploration and one specializing in the refinery business. Chief executive Jim Mulva will retire after the separation...

    • Posted July 14, 2011
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  • PT Pertamina Bought Nigerian Qua Iboe and Escravos Crude Oil Cargoes

    PT Pertamina, Indonesia’s state oil company, bought two cargoes each of Nigerian Qua Iboe from Gunvor SA and Escravos crude from Vitol Group, according to four people who participate in the West African crude market. The shipments are...

    • Posted July 14, 2011
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  • PGI Energy in Partnership to Build Power Plant In Nigeria

    PGI Energy, an energy holding company, headquartered in Houston, Texas, today stated in a letter to shareholders that ” they have entered into partnership with J & L INSTRUMENTATION & POWER, LLC AND KNOX J & L ENERGY...

    • Posted July 14, 2011
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  • Germany’s Merkel arrives in Nigeria

    German Chancellor Angela Merkel arrived in Nigeria Wednesday on the final leg of an African tour during which she is to hold talks with President Goodluck Jonathan expected to focus on energy cooperation. Merkel was scheduled to...

    • Posted July 13, 2011
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  • Machiavellian Business Lessons from Billionaire Aliko Dangote

    By Mfonobong Nsehe Ever since my first encounter several years ago with Robert Greene’s international bestseller, The 48 Laws of Power and Niccolo Machiavelli’s The Prince, I’ve become an ardent student of power, obsessed with studying and predicting the...

    • Posted July 13, 2011
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  • Centralised Database for Insurance Industry Goes Live Soon – NIA

    The centralised database system being put in place by the Nigerian Insurers Association (NIA) for the entire insurance industry in the country is scheduled to go live during the current quarter of the year. The centralised database...

    • Posted July 13, 2011
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  • Emirates Seals Deal with Arik Air

    Dubai’s Emirates Airline has signed an agreement with Nigerian carrier Arik Air which will allow Gulf passengers to book onward flights to destinations across West Africa in a single booking, the airline said Wednesday. Under the agreement,...

    • Posted July 13, 2011
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  • May & Baker Plans to Start Pharmaceutical Exports to West, Central Africa

    May & Baker of Nigeria Plc, the nation’s second-biggest pharmaceuticals maker by market value, plans to start exports to western and central Africa before the end of this year, Chief Executive Officer Nnamdi Okafor said. “Our current production capacity...

    • Posted July 13, 2011
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  • Naira Weakens at Central Bank Auction

    Nigeria’s naira weakened at a central-bank auction today, snapping five straight increases as lenders demanded the most foreign currency in five sales. The marginal rate, which is used as the prevailing exchange rate, fell to 150.08 per...

    • Posted July 13, 2011
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  • The MTN Link Night – Abuja Edition [Pictures]

    The MTN Link Night train came to Abuja on the 2nd of July, 2011. The event which took place at the prestigious Transcorp Hilton Hotel lived up to its billing in every sense of the word. The...

    • Posted July 12, 2011
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  • Shell Nigeria lifts force majeure on Bonny oil

    Royal Dutch Shell  said on Tuesday it had lifted a force majeure on its Nigerian Bonny Light crude oil loadings which was declared on June 13 due to leaks and fires on its Trans-Niger Pipeline. Shell’s Nigerian...

    • Posted July 12, 2011
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  • NSE All Share Index hits below nine months support

    The free fall of share prices on the bourse continued as the bears revved to dominate market activities, plunging All-Share Index further into red zone to hit new low below 24,000 points while breaking nine months support...

    • Posted July 12, 2011
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  • Segun Agbaje would take over as GTBank Chief Executive

    Guaranty Trust Bank (GT Bank) said on Tuesday acting chief executive Segun Agbaje would take over as the lender’s substantive head following the death of his predecessor last month. Agbaje joined GT Bank when it first launched in...

    • Posted July 12, 2011
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  • Union Bank signs deal with new investors

    Union Bank  said on Tuesday it had signed a detailed recapitalisation agreement with a group of institutional investors led by the African Capital Alliance (ACA) private equity firm. Under the deal, which was agreed in principle in...

    • Posted July 12, 2011
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