The “golden age of gas” that the International Energy Agency foresees as a result of the U.S. energy boom is hardly the future being embraced by industry executives. At least based on comments from company officials presenting at the Independent Petroleum Association of America’s conference in New York yesterday. For them, oil is still the prize. Gas is almost an afterthought.
Updated 5 Years ago

The National Human Rights Commission, NHRC, yesterday, said its investigations revealed that eight persons that were killed by a joint team of the Nigerian Army and operatives of the Department of State Services, DSS, at an uncompleted building situated at the Apo District of the Federal Capital Territory on September 20, 2013, were not members of the Boko Haram Islamic sect as was alleged by security agencies.
Updated 5 Years ago

A U.S. jury ordered Takeda Pharmaceutical Co Ltd to pay $6 billion in damages over claims that it concealed cancer risks associated with its Actos diabetes drug, the plaintiffs' lawyer said on Tuesday. The massive award was met with "stunned silence" in the packed Lafayette, Louisiana, courtroom, plaintiffs' lawyer Mark Lanier said. Eli Lilly and Co, Takeda's co-defendant, was ordered to pay $3 billion in punitive damages.
Updated 5 Years ago

Rebels embattled against the regime of Syrian President Bashar Al-Assad have reportedly come into possession of high-powered anti-tank weaponry, the likes of which may have been supplied by the United States. Images of rebels equipped with heavy arms have begun to circulate in recent days, and at least one news site has claimed that the source responsible is the US government.
Updated 5 Years ago

Mobil Oil Nigeria Plc is a subsidiary of Exxon Mobil. The Company operates in the integrated oil and gas industry. Mobil Oil Nigeria is engaged in the production and marketing of petrochemicals (gasoline, motor oils, lubricants, marine and jet fuels, etc.), packaging films and other chemical products.
Updated 5 Years ago

Ukraine’s Interior Ministry has launched an anti-terrorist operation in the eastern city of Kharkov by blocking the city center, said acting Interior Minister Arsen Avakov. At least 70 activists have been arrested by the police. “The anti-terrorist operation has begun. The center of the city and Metro stations are closed. As soon as we finish the operation, we will unblock them,” wrote Avakov on his Facebook page, “The building of Regional State Administration is totally free from the separatists who seized it earlier.”
Updated 5 Years ago

Emerging-market stocks rose toward a four-month high as European and U.S. futures signaled a rebound after the Standard & Poor’s 500 Index erased this year’s advance. The yen gained versus the dollar while nickel headed for its longest rally since 2010 on supply concerns. The MSCI Emerging Markets Index increased 0.4 percent by 7:19 a.m. inLondon, as information-technologycompanies rose after three days of losses. Futures on the Euro Stoxx 50 Index and the S&P 500 added at least 0.2 percent while Nasdaq 100 Index contracts climbed after that gauge’s biggest three-day loss since 2011. The yen gained a third day against the dollar, which slipped against 13 of 16 major partners. Nickel added 0.5 percent and oil in New York rose 0.6 percent.
Updated 5 Years ago

The Group Managing Director/Chief Executive Officer of the United Bank for Africa Plc (UBA), Mr. Phillips Oduoza, has said that the bank has slowed down its aggressive expansion across the continent as it consolidates its operations in 19 different countries and meets commitments to fund large power projects in Nigeria.
Updated 5 Years ago

Being at the 2 day annual Africa Private Equity (PE) and Venture Capital Association (AVCA) conference held in Lagos, last week in the midst of investment bankers, Private Equity players, venture capitalists, and global pension fund managers, gave an insight into the rapidly evolving PE industry in Nigeria.
Updated 5 Years ago

Microsoft is counting down to the end of an era. On April 8, the company officially washes its hands of Windows XP, an operating system introduced in 2001 that comprises 45 million lines of code. You can watch the clock tick down in slightly eerie fashion, green boxes on a purple background, on Microsoft’s website, which also gives some pithy advice on what this means: “It means you should take action.”
Updated 5 Years ago