Nigeria has continued to lose large merchant vessels to neighbouring countries as the inability to develop deep seaports among other challenges scare shipping companies from using ports within the eastern corridor. The Guardian learnt that the government has been unable to solve the persisting challenges affecting the full operation of ports in the eastern part
Nigeria and Turkey, yesterday, signed eight major memorandum of understandings (MoUs) on key sectors, including energy, defence, mining and hydrocarbons with the implementation to commence immediately. President Muhammadu Buhari made the disclosure at a joint press conference on the occasion of the official visit of Turkish President, Recep Tayyip Erdogan to Nigeria. According to a statement
Commodity markets can make or break economies. In the first half of the 19th century, the booming whaling industry made New England rich, and New Bedford, Massachusetts, was probably for a while the most prosperous city in the US. But overharvesting made whaling increasingly difficult and whale oil more expensive, and it was steadily replaced
Dubai ports giant DP World and Britain’s development finance agency CDC Group on Tuesday said they planned to jointly invest up to $1.72 billion in logistics infrastructure in Africa over the next several years, starting with modernising three ports. The investments will initially focus on expanding ports operated by DP World in Egypt’s Ain Sokhna,
The exploration well proved successful with the latest preliminary estimates showing volumes between 9-12 million barrels of recoverable oil equivalents. The discovery is significant for the area says Torger Rød, Vår Energi CEO: “With the Rødhette result, Vår Energi celebrates a sixth exploration discovery this year, as the exploration team continue a successful 2021 campaign.
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