News

The International Monetary Fund (IMF) has cut its growth forecast for Nigeria this year to 2 per cent from 2,5 per cent, reflecting fears the coronavirus outbreak in China will hit demand for oil. Nigeria has been grappling with low…
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This year's Energy & Corporate Africa 2020 Annual Sub-Saharan Africa Oil/Gas Conference is scheduled for April 29 -30, at the Marriott Westchase Houston, Texas, USA. Some of the speakers confirmed to Valuechain Magazine include:…
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The Director, Department of Petroleum Resources, DPR, Engr. Sarki Auwalu, has said that Federal Government, through the Department, has plans to ensure that there is deep penetration of LPG in all the rural communities in Nigeria. …
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The nation’s crude oil reserves of 37 billion barrels, two per cent of which is being produced annually, will be depleted in 49 years, according to the Department of Petroleum Resources. The reserves, which stood at 37.45 billion…
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Nigerian business guru and philanthropist Femi Otedola on Wednesday, February 19, gave a situation report on Aliko Dangote’s multi-billion-dollar refinery and petrochemical unit after visiting the site. The billionaire in a tweet shared…
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An Italian judge has ordered a Nigerian businessman, Alhaji Aliyu Abubakar to stand trial for alleged international corruption relating to a Nigeria oil graft case involving Eni and Shell, a judicial source and his lawyer said on…
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Elder statesman and founder, Afe Babalola University, Chief Afe Babalola yesterday said the discovery of oil in Northern part of the country would fast-track the process of restructuring. Speaking as chairman of the First Goke Omisore…
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The National Assembly is working on expanding the powers of the Nigerian Content Development and Monitoring Board (NCDMB), it was learnt. The Chairman, House Committee on Nigerian Content Development and Monitoring and the…
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Though the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, is designed to foster institutional collaboration, and maximize resource utilisation as well as participation of Nigerians in oil and gas activities, by linking oil…
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The trial of four alleged fraudsters, Abayomi Kukoyi, Prince Kingsley Okpala, Prince Chidi Okpalaeze and Prince Emmanuel Okpalaeze alongside a company, Petro Union Oil and Gas Company Limited, commenced today, February 19, 2020 before…
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