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Shell, today, announced a cash allocation framework that will enable it to reduce debt, increase distributions to shareholders, and allow for disciplined growth as it reshapes its business for the future of energy. Ongoing work to reshape…
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LEKOIL (AIM: LEK), the oil and gas exploration and production company with a focus on Nigeria and Africa, today announces that it has entered into a Strategic Alliance Agreement (“SAA”) with NAMCOR Exploration and Production (PTY) Limited…
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The Nigerian National Petroleum Corporation (NNPC) yesterday attributed the prolonged neglect of overhauling the refineries in the country to the delay in making them functional. It declared the refineries as damaged beyond the usual…
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The Group Managing Director of the Nigerian National Petroleum Corporation, NNPC, Mallam Mele Kyari, has assured motorists of ample availability of Premium Motor Spirit, PMS, also known as petrol, This came as the NNPC spokesman, Dr.…
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The aftermath of deregulation of the downstream oil sector by the federal government is beginning to take its toll on prices of Premium Motor Spirit, PMS also called petrol as Nigerians paid more for the product in September. Average…
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If there is one thing transparency does to any organization apart from showcasing its honesty and integrity, it helps to boost its performance; it helps to put its managers on their toes to do their best knowing that there is no room to…
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Nigeria’s former Minister of Finance, Dr. Okonjo-Iweala, has emerged the first African and the first female to attain the position of Director-General of the World Trade Organisation (WTO). He became the finalist after eliminating South…
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OPEC’s secretary general said on Monday an oil market recovery may take longer than hoped as coronavirus inflections rise around the world, and OPEC and its allies would “stay the course” in balancing the market. The Organization of the…
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Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August. Earlier in July, the rig count stood at six, data from…
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The total net value of the NNPC’s oil and non-oil assets appreciated by 18.5 per cent to N4.67 trillion in 2019, from N3.94 trillion recorded in its 2018 financial year. In the financial statement, the NNPC put the cost of the assets as…
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