Richard Ginika Izuora PetroNor E&P, has announced a binding agreement with New Age (African Global Energy) to acquire New Age’s interests in OML 113 in Nigeria which contains the Aje field. This acquisition not only strengthens the company’s position in OML 113 but also opens up exciting possibilities for future growth in the energy transition and strategic flexibility. According to the agreement, PetroNor will pay New Age USD 6 million cash plus a deferred future gas production payment up to a maximum of USD 20 million to acquire New Age’s entities holding a project economic and voting interest in…
Author: Orientalnews Staff
Joseph Bakare Proparco, a French development finance institution, has marked its 15 years of operations in Nigeria with a total of $1B invested over the period. Since its inception in Nigeria in 2008, Proparco has focused its efforts on partnering with local and Pan-African financial institutions, investment funds, growth stage companies as well as startups within the renewable energy, agribusiness and tech space. The goal of these investments is to improve the lives of Nigerians by providing access to essential needs such as electricity and financial services. Proparco provides loans, equity, guarantees and technical assistance aimed at strengthening its…
Yemisi Izuora The Chairman of Air Peace, Barrister Allen Onyema, has commended the Nigerian military for their sacrifices in keeping the country together and defending it against territorial aggression. Onyema gave the commendation on Thursday, September 28, 2023, when he was conferred with a Doctor of Management Science Degree by the Nigerian Defence Academy, at its 33rd Convocation Ceremony in Kaduna. The Air Peace boss described the Nigerian military as one of the best in the world and charged the new graduands of the academy to deploy the newly acquired skills and knowledge to defend the country and contribute…
Ken Okeke Minister of Aviation, Mr. Festus Keyamo has appealed to the International Civil Aviation Organisation (ICAO) to support efforts of the country to fully achieve its civil aviation master plan and airport development programmes. The Minister made the appeal during a familiarisation visit to the ICAO Headquarters in Montreal Canada. The Minister on behalf of the continent of Africa also mentioned the important role of air connectivity which he said ICAO should continue its support on the actualisation of other safety development-related matters. On hand to receive the Minister was the ICAO Council President, Mr. Salvatore Sciacchitano, the…
Leaders of Nigeria Labour Congress (NLC) and their Trade Union Congress of Nigeria (TUC) counterparts, on Friday, shunned a meeting called by the Federal Government in a desperate effort to avert the planned nationwide strike from October 3. According to the two labour centres, government’s invitation came late as they had scheduled engagements outside Abuja, the federal capital. The government had, on Friday, summoned an emergency meeting meeting with the leaders of NLC and TUC in an effort to sway Organized Labour and its allies to shelve the industrial action. The meeting which was scheduled for Friday, 12 noon…
Richard Ginika Izuora Oil prices are set for another weekly gain as well as a monthly one driven by tight supply coupled with perhaps surprisingly resilient demand, after sharp drop on Thursday. Bloomberg attributed the Thursday drop to technical resistance as well as speculation that Saudi Arabia may start rolling back the cuts if prices rose too high. Theoretically, that may be true but market operators are seeking to know what level of prices would be too high to sustain with limited supply. There was also concern about more rate hikes from the Fed that would dampen demand and…
Richard Ginika Izuora British independent energy company, Savannah Energy, has reported improved activities in Nigeria which resulted in a 8 per cent rise to US$138.7 million in revenue in first half of 2023. The result was contained in its unaudited half-year results for the six months ended 30 June 2023. Highlights of the company’s finances showed that total revenue increased by 8 per cent to US$138.7 million as against US$128.7 million reported in H1, 2022. Operating expenses plus administrative expenses was up of US$27.4 million against H1 2022 of US$24.5 million, while Profit After Tax, PAT, including contribution from…
Richard Ginika Izuora Offshore Dimensions Limited, an indigenous oil and gas firm has said that the company just hit a remarkable milestone and has announced with excitement the prestigious honor it received recently from Parker Hannifin, a distinguished American OEM. Offshore Dimension received the “Outstanding Growth Award” from Parker Hannifer as an accolade and a special honor in the oil and gas industry. This is to specifically recognize the growth of Offshore Dimensions as a ParkerStore and the MRO Authority/Distributor in the Retail category for FY22. According to Offshore Dimensions this honor in the realm of business excellence, is nothing…
Joyce Onwuka Osun State Governor, Senator Ademola Adeleke has expressed commitment to supporting and empowering women in the mining sector. The Governor made this known at the Gold and Gemstone Conference and Exhibition (GGCE, 2023) at African Gemstone and Jewellery Conference Centre, Lagos. Represented by the Special Adviser, Mining and Mineral Matters, Prof Lukman Jimoda, the Governor noted that the inclusion and empowerment of women in the mining industry is not only essential for their own economic emancipation but also for the overall growth and prosperity of our state and nation. He maintained that the Osun state government under…
Moses Ofodeme Two brothers, Ochuko Godfrey and Ochuko Prosper, and 14 others were on Tuesday, September 26, 2023 convicted and sentenced to various jail terms by Justice Efe Ikponmwonba of Edo State High Court sitting in Benin City, Edo State. The others are Prosper Enahoro, Ogheneoma Udolu, Raymond Edise, Akai Philip Onochie, Osayi Kennedy Obaseki, Joshua Ngerem, Oghogho Marvelous Ekpuke, Stanley David, Jackson Shebenor, Felix Orevaoghene Emmanuel , Gideon Onaiwu, Johnson Godspower Oghenevwegba, Godspower Emmanuel Jerimaiah, and Felix Wada The convicts were arraigned separately on one count charge of impersonation and possession of fraudulent documents by the Benin Zonal…
