Federal Government has identified seven minerals for national development, inister of Mines and Steel Development, Chief Sarafa Isola, said in Abuja yesterday.
He told the News Agency of Nigeria (NAN) that the minerals were Gold, Lead/Zinc, Barite, Bitumen, Limestone, Coal and Iron Ore. Isola said that Nigeria was well-endowed with myriad of solid minerals, but that […]
In its weekly inventory report, the Energy Department’s Energy Information Administration said crude oil supplies fell 1.2 million barrels last week, less than the 2 million barrel decline expected by analysts surveyed by energy research firm Platts.
The report also said demand for gasoline is down 1.8 percent, on average, over the last four weeks compared […]
Nigerian President Umaru Yar’Adua said on 13 June that the country’s energy infrastructure has become so decrepit he will soon have to call a ’state of emergency’. Nigerian environmental experts are urging the government to consider reintroducing coal mining to end the crisis, a move they say would also slow forest loss and desertification.
“Nigeria has […]
When the price of oil reached another record on Friday, at more than $126 a barrel, analysts pointed to attacks on pipelines in Nigeria and turmoil in Venezuela and Iraq as the immediate causes.
Even small disruptions to supplies from such places can cause the price to jump, because only Saudi Arabia has the capacity to […]
Country’s largest power producer NTPC has appointed three merchant bankers to acquire two coal blocks in Indonesia as part of efforts to meet shortfall in the domestic market.
“We have finalised three merchant bankers to acquire coal blocks in Indonesia,” R S Sharma, chairman and managing director of NTPC, told reporters here.
He, however, declined to give […]
The current week the oil price soars so reaching the price of $126 a barrel.
The oil price in market commerce New York $126.20 in Friday, while in commerce session of London Brent the oil price downdraft. The oil price in London Brent is $125.90
Increase of the oil price since beginning of the year 2008 […]
Oil major Royal Dutch Shell said Saturday it was losing the equivalent of 30,000 barrels of crude oil per day because of recent attacks against its installations in Nigeria.
The unrest in Nigeria, Africa’s biggest oil producer, helped drive oil prices to a record high above 126 dollars on Friday, analysts said.
The loss in production translates […]
Oil prices crossed 120 dollars a barrel in New York Monday following fresh unrest in Nigeria, Africa’s largest oil producer, and rising tensions between the West and Iran.
New York’s main oil futures contract, light sweet crude for June delivery, briefly hit 120.20 dollars, before slipping back at 1520 GMT to 120 dollars, a gain […]
The World Bank and four other Nigerian banks have donated $14 million (N1.6 billion) to the Federal Government for the strengthening of the nation’s artisanal mining sector.
Minister of Mines and Steel Development, Alhaji Sarafa Isola said this in Sokoto, when he paid a courtesy call on the Sokoto State acting Governor, Alhaji Abdullahi Salame.
He said […]
QUARTERLY HIGHLIGHTS
New Spektra drilling rig arrived on site at the Segilola Project in Nigeria, the most advanced gold project in the country and a 10,000m drilling program has commenced
Feasibility Study underway and progressing well for the Mkushi Copper Project in Zambia
Masbate construction is ahead of schedule by 4 weeks
Mining Alliance Agreement with Leighton Contractors (Philippines) […]