Business mogul, Femi Otedola, has sold off his 75 percent stake in Forte Oil. The billionaire businessman hinted in 2018 the plan to sell off his 75 percent stake to “maximise the opportunities in refining”. In a message he posted on Wednesday, Otedola said the process had been completed. APC …
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This piece was inspired by an article published by Business Insider entitled “Meet the 25 Most Influential PR People Behind the Success of Corporate America”, which is led by Facebook’s VP Communications/Public Policy, Elliot Schrage. Formerly VP of Communications at Google, Schrage holds degrees from Harvard Law School and the Kennedy …
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Rolling out her concept of fashion that is not a slave to the seasons or the shackles of Fashion Week, Rihanna opened the second pop-up shop of her Fenty brand in New York Tuesday, a month after the launch of the new fashion house in Paris. Fenty, which the Barbados-born …
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The American Petroleum Institute (API) reported a small draw in crude oil inventory of 812,000 barrels for the week ending June 13, but still coming in over analyst expectations of a much bigger 2.033-million barrel drawdown in inventories. Last week, the API reported a surprise build of 4.852 million barrels. A day later, …
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U.S.-Iran tension continues to rise over the attacked tankers in the Gulf of Oman, but oil traders no longer seem to be paying attention. U.S. Secretary of State Mike Pompeo hit the cable news circuit over the weekend to blame Iranfor the tanker attacks and to drum up support for more …
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A consortium of 7 local and international lenders has signed an agreement to refinance Neconde Energy Limited’s existing Senior Secured Medium-Term Loan Facility Agreement worth $640 million with Neconde Energy Limited, an indigenous Oil and Gas Exploration and Production company, following the 20 year renewal of the Oil Mining License …
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Facebook Inc is no longer allowing pre-installation of its apps on Huawei phones, the latest blow for the Chinese tech giant as it struggles to keep its business afloat in the face of a U.S. ban on its purchase of American parts and software. Customers who already have Huawei phones …
Read More »Oil prices rose on Monday after Saudi Arabia said producer club OPEC and Russia were likely to keep withholding supplies, and in relief that the United States and Mexico averted a trade war that would have damaged the global economy. Front-month Brent crude futures, the international benchmark for oil prices, …
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Federal Government-owned refineries, located in Port Harcourt, Kaduna and Warri, lost over N231bn in the last four years as the proposed rehabilitation of the plants suffered a setback. The Port Harcourt Refining Company has two refineries, while the Warri Refining and Petrochemical Company and the Kaduna Refining and Petrochemical Company …
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The Special Presidential Investigation Panel for the Recovery of Public Property says the Nigerian Petroleum Development Company Ltd and one of its Joint Venture partners, Seplat Petroleum Development Company Plc, have short-changed the Federal Government by $1.8bn and N8.8bn from 2013 to 2017. Responding to The PUNCH’s inquiry on Sunday, the …
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