Nigeria

IEA’S WORLD ENERGY OUTLOOK 2017

The resurgence in oil and gas production from the United States, deep declines in the cost of renewables and growing electrification are changing the face of the global energy system and upending traditional ways of meeting energy demand, according to the World Energy Outlook 2017. A cleaner and more diversified energy mix in China is another major driver of this transformation.
 

FG unveils intervention plan for Apapa ports access roads

The Federal Government has rolled out fresh intervention plan for the rehabilitation of the access roads to Apapa ports.
 
The move, which is expected to bring respite to the residents and businessmen around Apapa and its environs, would see to reconstruction of the roads; relocation of empty trucks from the axis and building of new trailer parks, among others.
 

Navy inaugurates Data Centre for Maritime Security

The Nigerian Navy has inaugurated the Maritime Safety Information (MSI) portal and Data Centre for effective security and safety of mariners around the nation’s waterways.
 
The Chief of Naval Staff, Vice Adm. Ibok-Ete Ibas, who performed the inauguration noted that the data centre, would not only provide security around the nation’s territorial waters but also boost the economy.
 

NPA engages Nigerian Editors on Port reforms

The Managing Director of the Nigerian Ports Authority (NPA), Hadiza Bala Usman has said that the Authority will partner the Nigerian Guild of Editors with a view to having a stronger communications channel to convey the gains of the current Port Reforms at the nation’s seaports in conformity with the Federal Government objectives of attracting Foreign Direct Investments (FDIs), whilst making the nation the Hub of Maritime Business in the Sub Region.
 

NPA may re-engage Intels as Reps settle TSA dispute

The Nigeria Ports Authority (NPA) and Intels Nigeria Limited have settled their dispute over payment of revenues through the Treasury Single Account (TSA).
 
NPA’s Managing Director, Hadiza Bala Usman, who disclosed this during a session with a House of Representatives panel, said Intels has agreed to pay all its outstanding debts owed NPA through the TSA platform.
 
Recall that NPA had in September announced the termination of its contracts with Intels, following the later’s refusal to make payments through TSA platform. 
 

Oil prices rise to $62.06 per barrel

Oil prices rose slightly on thursday following expectations that the Organisation of Petroleum Exporting Countries (OPEC), will extend production cuts at a meeting at the end of this month. 
 
Brent crude at the international averaged $62.06 per barrel, up 19 cents, or 0.3 per cent, from their last close, while the United States, West Texas Intermediate (WTI) crude futures stood at 55.39 dollars a barrel, six cents up from their last settlement. 
 

Transparency: NNPC reviews Corporate Governance system

The Management of the Nigerian National Petroleum Corporation (NNPC) is executing a major restructuring of its corporate governance framework to engender an accountable and fraud repellent system across its value chain. 
 
Declaring open the 2017 Fraud Awareness Week at the NNPC Towers, Abuja on Tuesday, Group Managing Director of the Corporation, Dr. Maikanti Baru, said the rejig which is an integral part of the on-going transformation of the Corporation would set new standards and processes controls, compliance and risk management.
 

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