Connect with us

News

NNPC Clinches Reuters Oil Deal Award

Published

on

The Joint Finance Team of the Nigerian National Petroleum Corporation, NNPC and its Joint Venture Partners, Chevron Nigeria Limited have clinched the prestigious Africa and Middle East Oil Deal of the Year Award 2015.
The NNPC stated that the Thomson Reuters /PFI Magazine award is in recognition of the novel $1.2 bn multi-year drilling financing package for 36 Offshore/Onshore Oil wells under the NNPC/CNL Joint Venture initiated under the Accelerated Upstream Financing Programme executed at a Signing-ceremony in London in September, 2015.
The initiative, which was designed by the NNPC to address the perennial challenge experienced by the Federal Government in providing its counter-part funding of JV upstream activities, earned the apex corporation the award for conceptualizing, structuring and delivering an oversubscribed deal in a challenging macro-economic environment.
Code-named Project Cheetah, the $1.2bn alternative financing package, was the first to combine funding of both oil production as well as domestic gas to support power generation in Nigeria from a medley of carefully sequenced offshore and onshore wells.
The deal is projected to fund 36 wells and deliver 41, 000 barrels of crude oil per day and projected peak incremental production of 127 million standard cubic feet of gas per day (mmscfd) in the years ahead.
Also the package is projected to generate between $2-5bn of incremental revenues to the Nigerian government over the life of the project (subject to prevailing oil price in the upcoming years).
The funding package is being financed by a consortium of Nigerian and International lenders led by Standard Chartered Bank and UBA.
The global award which is one of the most prestigious in the International financing market is based on feedback from peers and market operators with full endorsement by the judges at Thomson Reuters /PFI.

Continue Reading
Click to comment

Leave a Reply

Your email address will not be published. Required fields are marked *

News

2027 BENUE GUBER: MORE TROUBLE FOR GOV ALIA

Published

on

By

The Following names joined the political family of Sen. Dr. George Akume today after leaving the sinking Alia ship .

Under the leadership of Barr. Emmanuel Jime .

The are ;
Chief Nelson Alapa
Douglas pepe SAN senatorial Aspirant zone A,
Engr Peter Ashiekaa
QS Clement Beetseh
Former commissioners
Joy Luga
Ann itodo
Barr martins Shaagee
Miss Dorcas
Prof Usar Joseh
Prof Cephas Tushima
Chief Patrick Idoko
Hon Patience Akor
Hon Fred Idoko
Hon Lawrence Ekpo Onoja Jnr
Hon Andrew Abah
Hon Agbo Innocent Ikwumonu
Hon Simon Omachoko
Hon David Egboja
Dr John Garba
Among together,

Continue Reading

News

ENGR. BELLO BABAYO BELLO FELICITATES VICE PRESIDENT KASHIM SHETTIMA ON RENOMINATION

Published

on

By

Engr. Bello Babayo Bello, FNSE, Executive Director (Networks) of the Niger Delta Power Holding Company (NDPHC), has extended his heartfelt congratulations to Vice President Senator Kashim Shettima, GCON, on his renomination as the Vice Presidential candidate for the 2027 general elections, alongside President Bola Ahmed Tinubu, GCFR.

In his message, Engr. Bello described the renomination as a beautiful affirmation of the Vice President’s enduring commitment to Nigeria’s unity, stability, and prosperity. He noted that Senator Shettima, himself a former Senator of the Federal Republic, has consistently embodied resilience, foresight, and a deep sense of responsibility, qualities that continue to inspire confidence across the nation.

“This renomination is a shining testament to your unwavering dedication to the Nigerian people,” Engr. Bello stated. “It reflects the trust of the party and the citizens in your ability to guide our country toward greater progress, peace, and prosperity. Your leadership has been a beacon of hope, and this endorsement is richly deserved.”

Engr. Bello further emphasized that Senator Shettima’s political journey has been marked by courage and service. From his tenure as Governor of Borno State to his current role as Vice President, he has consistently championed initiatives that address national challenges, foster economic growth, and promote inclusive development.

As a leader in the power sector, Engr. Bello highlighted the importance of visionary leadership in driving infrastructure and energy reforms. He expressed confidence that Senator Shettima’s continued role in government will further strengthen Nigeria’s capacity to deliver reliable power, expand opportunities, and improve the quality of life for millions of citizens.

He prayed that Almighty Allah grants the Vice President wisdom, strength, and good health to continue serving the nation with distinction. “May Allah bless your efforts, guide your decisions, and grant you success as you carry forward the responsibility of leadership,” he added.

The message concluded with a reaffirmation of goodwill and support: “Congratulations once again, Your Excellency. We look forward to your continued contributions to the peace, progress, and prosperity of Nigeria.”

Signed:Engr. Bello Babayo Bello, FNSEExecutive Director (Networks)Niger Delta Power Holding Company (NDPHC)

Continue Reading

News

What MKA Will Do Differently

Published

on

By

  1. Open rural roads to allow faster and deeper security response, while also improving the movement of agricultural products. The current government has focused on cosmetic projects that do not reflect the current challenges and realities of the state. The rural areas are the most hard hit by this terror and my government will focus on providing a targeted and holistic responses .
  2. To ensure deterrence, I will set up a committee of experienced legal minds to monitor and follow up the prosecution of criminals arrested by the police. I will also work with the State Assembly to further strengthen our anti-crime laws.
  3. Improve security intelligence by deepening collaboration with the clergy, traditional rulers, neighbouring states, and security agencies. I will also improve surveillance by building a command centre capable of 24-hour remote monitoring of critical and volatile areas of the state. The current government of Abia State under Alex Otti has delivered one such project with great results.
  4. Payment of salaries should not be a yardstick for measuring good governance. Salaries are simply workers’ entitlements for services rendered. To promote transparency, I will publish a public salary website showing the monthly status of salary payments.
  5. I will set up a committee tasked with ensuring Benue youths are fairly represented in federal government job recruitment exercises.
  6. In the area of sports, I will build astroturf football pitches across the state to encourage youth participation in sports. Additionally entrepreneurs will receive grants and low interest loans to grow.
  7. Agriculture is a business, and our farmers will be equipped with the training and infrastructure needed to carry out commercial farming. I will deploy my experience of running a rice factory over the last 10 years to transform agriculture into a profitable enterprise.
  8. Global cities are also entertaining cities. Benue has a large pool of talented entertainers, and I will set up an Entertainment Advisory Board to promote talent and grow the entertainment industry in the state.
Continue Reading

Trending

Copyright © 2017 Zox News Theme. Theme by MVP Themes, powered by WordPress.