We’ve paid 70% of PHCN workers – FG

The Federal Government on Wednesday said it had paid the severance benefits of over 70 per cent of the workers of the Power Holding Company of Nigeria as it worked towards concluding the privatisation of the power sector. It stated that it would... Read more →

Petrofac scoops $95m Gazprom deal

London-listed services player Petrofac has won a second contract by Russia’s Gazprom Neft for work on the Badra oilfield in Iraq, www.upstreamonline.com reported on Tuesday. The $95m deal involves the provision of maintenance engineering,... Read more →

Hedge funds, gold bets reach six-month high

Hedge funds and other speculators raised bets on higher gold prices to the most in six months as signs of slowing United States growth drove bullion above $1,400 an ounce for the first time since June. The net-long position increased 29 per... Read more →

PE firm to take Globecomm private for $340m

Satellite communications provider Globecomm Systems Incorporated has agreed to be taken private by investment firm Wasserstein & Co for about $340m. Reuters reports that Wasserstein’s offer of $14.15 per share in cash represents a 1.73... Read more →

Have we crossed the Rubicon?

Contrary to the gloomy picture initially painted by the Roundtable of Distribution Companies (the Disco Roundtable) 13 of the 15 preferred bidders for the distribution (Discos) and Generation (Gencos) companies finally met the deadline for the... Read more →
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