Business

Shell Convent refinery heavy oil hydrocracker shut by fire - sources

The heavy oil hydrocracking unit (HCU) at Royal Dutch Shell Plc's (RDSa.AS) 209,787 barrel per day (bpd) Convent, Louisiana, refinery was shut after a fire early on Sunday, sources familiar with plant operations said.

The fire broke out on the 45,000 bpd HCU, call the H-Oil Unit, at about 1:30 a.m. (0630 GMT) on Sunday, the sources said.

A Shell spokesman was not immediately available to comment.

No injuries were reported due to the blaze, the sources said.

Fidelity Bank, BOI, Ford Foundation unveils lending scheme for Aba leather mManufacturers

.Lender donates fully equipped secretariat to LEPMAAS

Fidelity Bank Plc, top Nigerian lender in strategic partnership with the Bank of Industry (BoI) has launched the Aba Finished Leather Goods Cluster Financing Programme.

  This is part of the bank’s continuous efforts to promote Made-in-Nigeria goods capable of meeting global standards for export and local consumption. 

   N400 million in financing provided by BoI will be made available on a quarterly basis to over 300 members of the Leather Products Manufacturers Association of Abia State (LEPMAAS).

NIMASA, CBN harp on special interest rate for maritime assets acquisition

Nigeria’s maritime regulatory agency, the Nigerian Maritime Administration and Safety Agency (NIMASA), is discussing with the Central Bank of Nigeria (CBN), on how to actualise interest rate through special interest financing.
The Director-General of NIMASA, Dr. Dakuku Peterside, who disclosed that the Agency is engaging the CBN to create a special interest rate for maritime assets acquisition in Nigeria, stated that NIMASA is committed to opening new frontiers for potential investors in the industry.

Edo Innovation Hub seeks more occupants for co-working spaces, outlines Q3 programmes

The Edo Innovation Hub has opened its doors for entrepreneurs in Edo State and environs to take opportunity of its co-working spaces and other facilities made available at the technology cluster in driving innovation and strengthening the tentacles of the tech ecosystem in the state.

Anambra ex-governor, Obi, appears before tax office in Onitsha

Former Governor of Anambra State, Mr. Peter Obi, yesterday appeared before the Onitsha Office of the Anambra State Internal Revenue Service (Tax office).

  Obi was summoned by Mrs Nwakpudolu Juliet, the Chief Tax Officer coordinating GRA Phase 2 Onitsha as a Senior Business Manager.

 Obi entered the tax office with his Media Adviser, Mr. Valentine Obienyem.

Dangote donates N.3b business school to University of Ibadan

.Promises to raise entrepreneurs for nation building

Obaseki mulls reforestation programme with PRESCO, others

Edo State Governor, Mr. Godwin Obaseki, has said that his administration is committed to a comprehensive reforestation programme through collaboration with PRESCO Nig. Plc. and similar companies in the state.

According to the governor, the reforestation programme was conceived to correct the degradation and depletion of trees in forest reserves across the state.

Dangote, Africa's richest man, targets 2020 Arsenal takeover

Aliko Dangote, Africa's richest man, has put a 2020 timeline on his goal of buying Arsenal, following a report that Alisher Usmanov is exploring a sale of his 30 percent stake.

Nigerian govt concessions Onitsha port, others to two firms

The Federal government under its agency, National Inland Waterways Authority (NIWA), has finally concessioned the Onitsha River Port in Anambra State  to two organisations and may likely commence operations before the end of 2018.

The Acting Managing Director, NIWA, Barrister  Danladi Ibrahim while addressing journalists on Monday in Lagos, stated that among the four river ports, in existence, two would be commissioned by the President before the end of the year.

Royal Dutch Shell mulls $25b share buy-back

Royal Dutch Shell is under pressure to repay its investors’ patience this week by beginning a bumper $25bn (£19bn) share buy-back plan.

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