Yemisi Izuora with agency report …M/Benz, BMW Pushes For Zero Emission Vehicles Automobile giant, Volkswagen is stepping up its shift to electric cars and plans to invest more than 20 billion euros ($24 billion) in zero-emission vehicles by 2030 to challenge pioneer Tesla in creating a mass market. The world’s largest automaker by sales said it would roll out 80 new electric cars across its multi-brand group by 2025, up from a previous goal of 30, and wanted to offer an electric version of each of its 300 group models by 2030. The German company had previously said it would spend more…
Author: Orientalnews Staff
Yemisi Izuora LEKOIL,says it is expecting the second of the two consents of Nigerian authorities on the Oil Prospecting Lease (OPL) 310. The current lease expiry date is 2018, but the company said it has an understanding with Baker Hughes, a GE company, for technical partnership and investment in appraisal of the discovery, possibly leading to first oil. It however cannot proceed without ministerial consent. Optimum, which is the licence holder and Lekoil’s partner, is not a technically resourced company, so a work programme will not happen before expiry date if Lekoil doesn’t get the government’s nod. The consent to…
. …Expresses Commitment To Nigeria’s Energy Sector Yemisi Izuora A delegation of the United States Consulate General led by the Deputy Economic Counselor Joel A. Kopp recently visited Nigerdock located at Snake Island Integrated Free Zone (SIIFZ) in Lagos. The team has an advisory role to the US government in shaping bilateral policy for Nigeria. The visit was part of the mission to discover successful business models like that of Jagal Energy and Nigerdock and identify potential areas of investment and cooperation between US and Nigerian companies Speaking during the visit, the US delegation reiterated their interest in Jagal as…
Yemisi Izuora The Organization of Petroleum Exporting Countries, OPEC, has expressed satisfaction that its oil cut deal is significantly helping to rebalance the global oil market and that higher demand in the rest of this year would lead to higher reductions in oil inventories. Mohammad Barkindo secretary general of the body in a speech said It is clear the rebalancing process is under way, supported by the high conformity levels of OPEC member countries and participating non OPEC countries.The OPEC and other producers, including Russia are reducing crude output by about 1.8 million barrels per day until next March in a bid…
…Goes Into $300Mn Deal With Shoreline Yemisi Izuora Nigerian energy company Shoreline has signed a $300 million agreement with the local unit of Shell to develop gas infrastructure around the commercial capital, Lagos.Shell said in June that it would place more emphasis on gas rather than oil in the West African country, which has the world’s ninth-largest proven gas reserves at 187 trillion cubic feet.Shoreline said the agreement was to develop, buy, market, distribute and sell natural gas in the Victoria Island, Ikoyi, Lekki and Epe districts areas that contain the city’s business hub and some of the country’s most expensive residential properties.It…
…Says Its CEO Not Part Of Diezani’s Loot Yemisi Izuora Aiteo Group says it is committed to building sound business ethics and has so far concentrated energy and commitment towards developing its oil field asset in OML 29 and NCTL upstream, and other substantial assets downstream, which it has developed more than 16 years ago. The company also noted that it has become a major player in the oil and gas industry especially in importing and exporting petroleum products in Nigeria and was flourishing as a prosperous corporate entity, by any standards. Aiteos comment on its Investment profile is…
Yemisi Izuora The chief executive of Eko Disco, Oladele Amoda has appealed to government to urgently consider review of the country’s electricity tariff as current tariff structure is not cost reflective and not investor friendly. Amoda in his opening comment at the 19th power sector stakeholders meeting in Lagos, said though the company has recorded major improvement in its incremental power initiatives several projects are lying fallow owing to concerns about investment recovery opportunities. “In a deliberate effort toward improving our services we have embarked on steady incremental power initiatives and have largely reduced load shedding within the network, but…
Yemisi Izuora Minister of power, works and housing, Babatunde Raji Fashola today disclosed he has informed the Immigration Service to investigate the immigration status of Mr. Dallas Peace managing director of Egbin Power plant in Lagos. The investigation is a direct fallout of Peaveys claim that debt owed the plant if not paid could throw the nation into darkness. Reacting to the statement in his opening remarks at the 19th power sector stakeholders meeting, Fashola said, “A few months ago, I had cause to respond to media reports suggesting that Nigeria was going to be plunged into darkness. Those reports…
The President/Chief Executive of the Africa Finance Corporation (AFC), Mr. Andrew Alli and other leading experts in the financial sector are expected to proffer solution to the challenges of infrastructure financing in the country, at the 2017 annual conference of the Finance Correspondents Association of Nigeria (FICAN). Others expected at the annual event which holds at the Orchid Hotels, Lekki, Lagos, on Saturday, 16th September, include the Managing Directors/Chief Executive Officers of Heritage Bank Plc, Mr. Ifie Sekibo; Rand Merchant Bank, Mr. Micheal Larbie; SunTrust Bank Limited, Mr. Mohammed Jibrin; Viathan Engineering Limited, Mr. Ladi Sanni; as well as the Acting…
Yemisi Izuora A new report has said that emissions by 90 largest carbon producers contributed almost half of global surface temperature increase and roughly 30 per cent of global sea level rise since 1880.The report blamed 50 investor-owned carbon producers, including, British Petroleum, Chevron, ConocoPhillips, ExxonMobi, Peabody, Shell and Total for roughly 16 per cent of the global average temperature increase from 1880 to 2010, and around 11 per cent of the global sea level rise during the same time-frame.The first-of-its-kind study published in the scientific journal Climatic Change recently links global climate changes to the product-related emissions of specific…
