Yemisi Izuora Oil price is beginning to slide downward as a major evacuation facility in the North Sea returns to operations. Crude oil prices had on Wednesday slipped away from two-and-a-half year highs hit the previous session as the gradual resumption of flows through a major North Sea pipeline made up for supply disruption in Libya. But the two outages in quick succession have highlighted how much tighter global oil markets have become a year into supply cuts led by OPEC and Russia. On account of the development the US West Texas Intermediate (WTI) crude futures were at $59.74 a…
Author: Orientalnews Staff
Sterling Bank Plc in partnership with Primero, LAMATA and E-Purse Systems Limited have begun implementation of e-ticketing system for Bus Rapid Transport (BRT) in Lagos. The e-ticketing system is an integral part of the Intelligent Transport System (ITS), which will help commuters to plan their journey and drastically reduce time spent waiting for buses at bus stops. It also helps in recording important data in transport operations, which will assist in planning and regulating transport services in the state. Speaking during a bus ride by senior executives of Sterling Bank and other stakeholders to demonstrate the workability of the new…
Yemisi Izuora The Minister of State for Petroleum Resources, Dr Ibe Kachikwu, has explained the major cause of the fuel scarcity currently being witnessed across the country, saying shortfall in supply of petroleum products, is major cause. Kachikwu, who stated this however, said that the Nigerian National Petroleum Corporation (NNPC) was making efforts to ensure that queues at filling stations disappeared in a couple of days. “Presently, queues in Lagos have reduced. We know that Lagos, Abuja, Benue, Port Harcourt were among the worst-hit areas. “Benue has been dealt with; Port Harcourt is quite moderated. Apart from these areas, other…
Yemisi Izuora The Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has advised motorists to stockpile enough petroleum products that will last them throughout the upcoming festive period, saying except the government intervene in the unfriendly Labour practices going on in the oil and gas sector, it will call out its members for a nationwide strike with effect from Monday, December 18, 2017. In a statement by the General Secretary, Lumumba Okugbawa, the union singled out one of the companies operating in the Sector, Neconde Energy Ltd (of Nestoil Group of companies) as one of the companies that has…
Yemisi Izuora The international multiple-award winning editor-in-chief of ITRealms online, , Mr. Remmy Nweke has been proclaimed the Best Online Media Personality of the Year 2017 by the Centre for Cyber Awareness and Development (CeCAD) with endorsement from the Federal Ministry of Communications. The honour which was bestowed on him at the 2017 Nigeria Mobile Economy Summit Awards (NIMES 2017) was held Thursday at the Oriental Hotels, Victoria Island in Lagos. According to the Director, Special Project, CeCAD, Mr. Hilary Damissah, the award was in recognition of Mr. Nweke’s efforts in keeping the nation’s Information and Communication Technology (ICT) sector abreast of…
Yemisi Izuora The Nigerian Liquefied Natural Gas, NLNG, in a bid to boost domestic gas utilization has dedicated has 350,000 metric tonnes per annum of cooking gas otherwise known as Domestic Liquefied Petroleum Gas, DLPG, to the country, to ensure reliable and affordable supply. NLNG Manager Sales Administration, Mr. Ahmed Joda said this during a presentation titled “Unlocking Domestic LPG Investment Opportunities” at the 2017 Nigeria Liquefied Petroleum Gas Association (NLNGA) Conference which held in Lagos. Mr. Joda stated further that “NLNG also advocates and encourages infrastructure development to ensure debottlenecking of existing receiving & storage facilities…
Yemisi Izuora Shareholders of Guinea Insurance Plc were unanimous in their consent and adoption of the continuous growth and development initiatives of its Board during the 2016/59th Annual General Meeting held recently in Kano. Godson Ugochukwu, Chairman, Board of Directors in a statement, reaffirmed the commitment and resolve of the Board to grow the company through strategic deployment of its distinctive competencies to gain competitive edge in the marketplace. In his address, Godson underlined as modest, the remarkable operational and financial successes the Board and Management of the company were able to achieve in less than a year despite…
Yemisi Izuora Petrolex Oil & Gas Limited, Africa’s emerging indigenous energy giant, is set to launch its ultra-modern tank farm facility at Ibefun, Ogun State as part of Petrolex Mega Oil City, planned to revolutionise the Nigerian oil and gas landscape. The commissioning is scheduled for December 12. A first of its kind in sub-Saharan Africa, the 300 million-litre tank farm will be commissioned by Vice President Prof. Yemi Osinbajo, GCON. It has the capacity to turnover 600 million litres of petroleum products every month, enabling products to be stored and distributed effectively and more efficiently, for better services and higher…
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…
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…