PM News Nigeria

ExxonMobil chief engineer killed in blast

Belgium ExxonMobil

A Senior ExxonMobil staff in Eket has been killed by a blast in the early hours of Tuesday, Nov. 24. The News Agency of Nigeria (NAN) reports that the deceased was identified as one Mr. G. Okorocha, the Chief Engineer (Aviation Department), who was in charge of servicing of aeroplanes and helicopters in the company. […]

Oil prices surge as OPEC and Russia agree


An agreement between oil producer club OPEC and Russia to produce less to drain a global glut sent prices soaring in record trading volumes on Thursday. The Organization of the Petroleum Exporting Countries (OPEC) agreed on Wednesday its first oil output reduction since 2008 after de-facto leader Saudi Arabia accepted “a big hit” and dropped […]

Kachikwu calls for diversification of Nigerian economy

Dr Ibe Kachikwu, Minister of State for Petroleum Resources

The Minister of State for Petroleum Resources, Mr. Ibe Kachikwu, says the growth of the economy solely depends on mobilizing and applying human, natural and financial resources. Kachikwu said this in a presentation at the ongoing 9th Annual Forum of Laureates of the Nigerian National order of merit (NNOM) in Abuja on Wednesday. The paper […]

Sokoto test runs N3.8bn 38MW Independent Power Project

Aminu Tambuwal, Sokoto state gov

Sokoto State Government on Wednesday commenced the test running of its N3.8 billion Independent Power Project (IPP), whose contract was awarded in November 2008. The project has the installed capacity of a minimum of 30 megawatts and a maximum of 38 megawatts. The Chief Operating Officer of the contracting firm, Vulcan Elvaton Ltd, Mr. Franklin […]

Oil prices rise ahead of OPEC meeting


Oil rises on Wednesday ahead of an OPEC meeting later in the day, with members of the producer cartel trying to thrash out an output cut to curb oversupply. International Brent sweet crude was trading at 46.85 dollars per barrel . U.S. West Texas Intermediate (WTI) crude was up at $45.52 a barrel. Traders said […]

Fuel scarcity: Arik Air scales down flights

Arik Air

Arik Air on Wednesday announced the reduction of flights due to the lingering scarcity of JET A1 (aviation fuel). The airline made the announcement in a statement by its Communications Manager, Mr. Ola Adebanji, in Lagos. Arik Air said that aviation fuel scarcity started manifesting last week when major oil marketers began to ration the […]

Senate commends Egbin Power Station management

Egbin Power Station: Rehabilitation on-going.

The Senate Committee on Privatisation has commended the management of Egbin Power Station over the improvement recorded in power generation and the ongoing transformation of the plant. This is contained in a statement issued by the company’s head of media communications, Mr Kingsley Okotie, and made available to newsmen in Lagos on Monday. The statement […]

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