Chinese firm Sino Arab Energy (SAE) and Nigerian company Osabo Refining and Petrochemical Industry Limited have concluded plans to build a refinery in Akabuyo, Local Government Area of Cross River State
Technical Focus
IITFC grants US$265 million loan to Egyptian oil firm
The International Islamic Trade Finance Corporation (IITFC), a branch of the Islamic Development Bank, has provided funds worth US$265mn to Egyptian General Petroleum Corporation (EGPC)
Syndicate of banks grant NNPC US$1.5bn loan to pay off debts
Nigerian state oil firm NNPC has been granted a loan of US$1.5bn by a syndicate of Nigerian and international banks to allow the company pay off its debts to international fuel traders
Ghana to build US$10 million petroleum studies school
Takoradi Polytechnic, located in Ghanas oil-rich western region, has revealed plans to begin the construction of a US$10mn School of Petroleum Studies in 2013
Oil firms' decisions based on 'untrustworthy' data, claims Oracle study
A survey undertaken by Oracle Corporation has revealed that close to 50 per cent of oil and gas executives have, in the past few years, been making decisions based on data they do not trust
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