Yemisi Izuora The Minister of Information and Culture, Alhaji Lai Mohammed, has congratulated Mr. Bruce Onobrakpeya over his conferment with the Nigerian National Order of Merit (NNOM), saying the award to the octogenarian artist is a great boost for the Creative Industry. The Minister said the recognition and honour accorded Mr. Onobrakpeya by the Federal Government will go a long way to inspire young artists in particular and the entire Creative Industry in general. He said the conferment of the great award on Mr. Onobrakpeya has put him in the same league as other great creative minds like Prof. Wole…
Author: Orientalnews Staff
Yemisi Izuora The Lagos State Government has lodged an appeal at the Court of Appeal in Lagos seeking to set aside the ruling of an Ikeja High Court in Lagos, which held that the Freedom of Information (FOI) Act, 2011 is applicable to the State even without “domestication”. In a Notice of Appeal filed by the Lagos State Director of Civil Litigation, Mr. Saheed Quadri, on behalf of the State’s Attorney-General and Commissioner of Justice, the Government is asking the Court of Appeal to set aside the November 28, 2017 ruling by Justice Beatrice Oke-Lawal in a suit instituted against…
Yemisi Izuora US multi national oil companies Exxon Mobil Corporation and Chevron Corporation reported paid no tax in Australia in the 2016 financial year, the third year in a row, despite reporting billions of dollars in income from operations in the country, a report from the tax office showed. Exxon Mobil, which has oil and gas production in the Bass Strait and a stake in the giant Gorgon LNG project among other assets in Australia, reported A$6.7 billion ($5.0 billion) in income, but it reported a loss for taxable income and paid no tax, similar to the previous two years.…
Yemisi Izuora US oil major Chevron Corporation, has announced a capital and exploratory spending program of $18.3 billion for the next calendar year 2018. The company said in a statement, the capex program includes $5.5 billion spending corresponding to its share of expenditure by affiliated companies. Of the $18.3 billion, the company plans to spend $15.8 billion in its upstream operations and $2.2 billion in downstream operations. “Our 2018 budget is down for the fourth consecutive year, reflecting project completions, improved efficiencies, and investment high-grading. We are fully funding our advantaged Permian Basin position and dedicating approximately three-quarters of our…
Yemisi Izuora Energy giant, General Electric, GE, Co said it will cut 12,000 jobs at its global power business as the struggling industrial conglomerate responds to dwindling demand for fossil fuel power plants. The U.S. company launched the cuts to save $1 billion in 2018, saying it expected current difficulties in the sector to continue. “Traditional power markets including gas and coal have softened,” GE said. Rumours of sweeping job cuts were confirmed by labour union sources on Wednesday, with staff in Switzerland and Germany among those badly hit. “This decision was painful but necessary for GE Power to respond…
Yemisi Izuora Reprieve seems to be in the horizon as the Independent Petroleum Marketers Association of Nigeria (IPMAN) Lagos State Chapter, opts to enter into dialogue with the Nigerian National Petroleum Corporation, NNPC to resolve issues around petroleum procurement at depots which they claim depot operators sell above government approved prices. The Association therefore said that in the meantime it has suspended its plan to withdraw services and shutdown members over 900 fuel stations in Lagos State and parts of Ogun State. The chairman of IPMAN, Alhaji Alanamu Balogun, supported by executive members, announced the suspension, at the end…
Yemisi Izuora Oil major and operator of the Egina field Total Upstream Nigeria Limited (TUPNI), has given the assurance that the field will commence production by the fourth quarter of 2018. The field was discovered in 2003 within the Oil Mining Licence 130 (OML130), some 200 kilometres south of Port Harcourt, Nigeria and is being developed by Total Upstream Nigeria Ltd in partnership with NNPC, CNOOC, SAPETRO and PETROBRAS. The field is expected to add 200,000 barrels per day to Nigeria’s oil production approximately 10 per cent of the country’s total oil production. Egina is the largest investment…
Yemisi Izuora Oil prices inched up on Thursday on a decrease in U.S. crude inventories, but rising gasoline stocks and crude production weighed on the market. U.S. West Texas Intermediate, WT, crude futures were at $56.09 a barrel up 13 cents, or 0.23 percent from their last settlement. Brent crude futures , the international benchmark for oil prices, were at $61.32 a barrel, up 10 cents, or 0.16 percent. Traders said the higher prices came as U.S. crude oil inventories fell by 5.6 million barrels in the week to December 1, to 448.1 million barrels , putting stocks below seasonal levels in…
Yemisi Izuora BudgIT has decried assault on its Project Tracking Officers by the Nigerian Police which culminated in the arrest of its Niger State Project Tracking Officer, Moses Motoni. On the 2nd December 2017, Moses Motoni visited Bida, Niger South Senatorial District to sensitise the community members on the zonal intervention projects awarded to their constituency in the 2017 Budget. The exact project was the “installation of transformers and electrification of the following communities: Nowanya-Tawadzuru tiffin-Emitswachi-Tawadzuru Tako in Gbako LGA, Niger South Senatorial District, Niger State-N25m)” as stated in the 2017 Appropriation Act. Moses encouraged the community members…
Yemisi Izuora China’s oil giant Sinopec Group has hired BNP Paribas to negotiate the sale of its oil business in Nigeria and Gabon. Under the deal Sinopec would be selling off Addax’s onshore and offshore oil and gas production sites in Nigeria and Gabon and would retain its Cameroon operation as only remaining project in Africa. Sinopec and other oil groups including China National Petroleum Corporation and CNOOC made large acquisitions between 2009 and 2013 with the help of low-cost loans from Chinese state-owned banks. The hunt for overseas assets was intended to bulk up their energy reserves and meet future…