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Rainoil, NALPGAM Partner to Promote LPG




Rainoil and NALPGAM Promotes LPG

Rainoil Limited has partnered with the Nigerian Association of Liquefied Petroleum Gas Marketers (NALPGAM) to promote the distribution and utilisation of Liquefied Petroleum Gas (LPG) in the country.

Mr. Jude Nwaulune, the LPG Manager, Rainoil Limited, while talking about the Partnership agreement, said the partnership was to ensure that LPG gets to the end-user.

Nwaulune said: “Last week, precisely Thursday, we commissioned our LPG facility at our Satellite Town depot, 8000 metric tons LPG Storage facility.

“Today, we are here to partner with NALPGAM, the umbrella body controlling LPG marketers in Nigeria. So we are to partner with them to promote the use of LPG in Nigeria.

“At the moment, Rainoil has joined the league of LPG importers in the country. NALPGAM is made up of plant owners and we needed to do a synergy to see how we can be supplying products to them to spread across the grassroots, to get to the common man and to get to every nook and cranny of Nigeria.”

Also speaking, the Chairman of NALPGAM Resource Centre, Mr. Basil Ogbuanu, said: “The management of Rainoil are visiting us today, and they have come for us to partner with them and also share information, considering the fact that NALPGA, in the segment of LPG distribution is in a very strategic segment.

“We are the people that when you bring a vessel in the terminal, it is through the NALPGAM as plant owners that this product can get to the end users.

“So they are new in the LPG but not in the industry as a whole, but LPG terminal. So they have come to partner with us so that we share ideas in terms of training, in terms of idea, so that’s why they here today.”


MTN Nigeria, Gameloft Partner to Increase Access to Variety of Exciting Games




MTN Nigeria announced it has partnered with Gameloft, a leader in the development and publishing of games, to increase access to a variety of fun and exciting games online.

The telecommunications giant in collaboration with its new partner, Gameloft announced the launch of MTN Gameworld, a new gaming platform for its subscribers.

According to MTN, the new platform will allow the Nigerian growing gaming community access to a lot of unique games online through an extensive premium catalogue from Gameloft and other renowned publishers.

Commenting on the partnership, Srinivas Rao, the Chief Digital Officer, MTN Nigeria, said, “We are constantly seeking to deliver innovative products that support the aspirations of our customers, whilst delivering superior user experience. This partnership allows us to provide our customers with access to a variety of exhilarating games from Gameloft and other leading publishers at an affordable rate.”

MTN Gameworld will allow subscribed customers access to a variety of games, which they can play at subsidised data rates through the MTN Gameworld app. Android, iOS and Windows phone users can subscribe via SMS, app, web, USSD menu (*447#), 131 USSD menu and any other MTN customer channel.

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President Buhari Commissions 5,000bpd Modular Refinery Built in Imo State



President Buhari

President Muhammadu Buhari on Tuesday commissioned the 5,000 barrels per day modular refinery built by Waltersmith Group in Imo State.

President Buhari, who commissioned the new modular refinery virtually, said the refinery will enable Nigeria to export petroleum products to neighbouring countries and other markets.

The 5,000 barrels per day Waltersmith Modular Refinery is the first phase of 50,000 barrels per day combined capacity plant planned for Imo State, according to the Group.

Buhari commended Waltersmith Group, an indigenous oil firm, and the Nigerian Content Development and Monitoring Board for the collaboration that led to the actualisation of the modular refinery.

President Buhari, therefore, directed the Ministry of Petroleum Resources, the Nigerian National Petroleum Corporation, the Department of Petroleum Resources and all other relevant government agencies to provide Waltersmith all the necessary support in terms of access to crude oil and condensate feedstock.

Buhari said, “We rolled out our refining roadmap in 2018, to address challenges in the downstream sector. After many years of government giving out modular refining licences without any coming on-stream, we are today seeing a commissioning within two years.

“The plan to commence the expansion of this refinery to 50,000bpd capacity, to refine crude oil and condensate, is a demonstration of the economic reform Nigeria is undergoing.

“The realisation of the refinery roadmap will ultimately lead us to becoming a net exporter of petroleum products, not only to our neighbouring countries but to other wide markets,” he said.

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Elon Musk Net Worth Jumps by $100 Billion this Year to Topple Bill Gates, Mark Zuckerberg, Others 



Tesla earnings

Elon Musk, the Chief Executive Officer and founder of Tesla, is now the world’s second-richest person following another surge in the price of Tesla share.

Musk total net worth jumped by $7.6 billion to $110 billion between November 16 and 17 to dethrone Facebook founder, Mark Zuckerberg, from the third position.

Since then, Tesla stock has been on a bullish run and in the last 24 hours added $7.24 billion to Elon Musk’s total net worth, according to Bloomberg Billionaire Index. Bringing the billionaire’s total net worth to $128 billion.

Elon Musk’s net worth rose from just $28 billion in January 2020 to $128 billion on November 24, 2020, representing an increase of $100 billion, the highest by any billionaire.

Musk has finally toppled Bill Gates as the second richest person and for the first time, Bill Gates is the third richest man in the world. This is the first time in almost 40 years that Gates will be in the third position.

Billionaires listed on Bloomberg Index have collectively gained $1.3 trillion this year.

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