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Pipeline explosion rocks Ibadan again, farmlands ruined

Jun 17, 2013

Two weeks after a pipeline explosion in Apata Area of Ibadan, another explosion has rocked Alapata community area in Ido Local government area of Oyo State. According to an impeccable source, the vandalised pipeline went up in flames Saturday night. Though, there was no casualty reported, it was gathered that many farmlands were destroyed by…

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Nigerian oil and gas deposits to deplete within 40 years

Jun 14, 2013

A professor of Medicine and sustainable environment advocate, Prof. Vincent Idemyor, has predicted that Nigerian oil and gas deposits, particularly in the Niger Delta region will not last beyond the next 40 years. The US-based Idemyor, currently visiting the University of Port Harcourt, Rivers State, gave the prediction in a lecture at a one-day workshop…

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Samsung Heavy wins $3bn FPSO platform order from Nigeria

Jun 13, 2013

South Korean shipbuilder Samsung Heavy Industries said Thursday it had won a $3.0 billion order to build a giant offshore oil storage platform in Nigeria. Under the deal, the shipbuilder will construct the floating platform used to store and process oil, which will begin operations in 2017, Samsung said in a statement. The Floating Production…

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Oil tycoon, Michael Prest to pay ex-wife £17.5m divorce settlement, UK court rules

Jun 13, 2013

Former wife of Nigeria’s oil tycoon, Michael Prest, Yasmin, on Wednesday, won a United Kingdom Supreme Court ruling giving her the right to force offshore companies owned by her former husband, Michael Prest, to turn over assets as part of a 17.5 million pound ($27.4 million) divorce settlement. The court ruled he must give his…

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FG Woos European Investors on 80% Interest in NIPP Plants

Jun 13, 2013

The federal government Wednesday wooed European investors to acquire 80 per cent stakes in 10 power stations built under the National Integrated Power Project (NIPP), assuring them of maximum support in ensuring the success of electricity business in the country. The Road Show to kick-start the international investment drive for the divestment of government stakes…

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Nigeria needs robust policy to be able to harness gas potential – UK

Jun 13, 2013

The United Kingdom has advised Nigeria to develop a robust policy with strong legal framework to harness its huge gas reserves. The British Deputy High Commissioner in Nigeria, Mr. Peter Carter, said only a robust gas policy with strong legal framework could help the country harness its abundant gas deposits. Speaking during a Climate Change…

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TCN acquires N471m software to monitor electricity lines

Jun 13, 2013

The Transmission Company of Nigeria has announced the acquisition of a N471m software to enable it monitor activities on power transmission lines and other electricity distribution infrastructure in the country. The General Manager, Design and Construction, TCN, Mr. Mike Ezeudenna, said the software would also help in the accurate evacuation of power by the company.…

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Shell builds 6-classroom block for community 24 years after oil spill

Jun 13, 2013

Shell Petroleum Development Company has built a six-classroom block for Ogodobiri community in Burutu Local Government Area of Delta State, 24 years after the community and eight others were devastated by an oil spill. It was gathered that the 1989 spillage wrecked havoc in Arhavewarien, Ogada, Orere, Okuama, Assah, Okuama, Utoarhavwarian and Oviri-Olomu, presently in…

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Enugu Disco affirms ownership of Aba electric firms

Jun 12, 2013

Interstate Electrics, winner of the Enugu Electricity Distribution Company, Enugu Disco, has said that the lease agreement of April 28, 2005, that purportedly granted the Aba Power Limited and Geometrics Power Aba Limited the power to distribute electricity within the areas specified in the lease (the ring-fenced islands) was made at a time they did…

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Jonathan orders recovery of $9.6bn underpayment from oil companies

Jun 12, 2013

President Goodluck Ebele Jonathan has directed all agencies affected by the audit reports of Nigerian Extractive Industries Transparency Initiate (NEITI) to recover the outstanding $9.6 billion uncovered by the audit exercise in the oil and gas sector. The President, who gave the directive during a visit by the board and management of NEITI at the…

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