Business

Elon Musk's abrupt dismissal of the Tesla Supercharger team left many wondering: what's going on behind the scenes? Please find out how this daring move could change Tesla's future and what it means for its ambitious expansion plans. Elon Musk's surprising decision to fire the entire Tesla Supercharger team was part of a larger cost-cutting plan, but still, it put one of the company's fastest-growing divisions on hold. The move had significant repercussions for stakeholders and customers who depend on Tesla's charging network and shook the company.   This story was published on May 21, 2024, just over a week after the termination. Rebecca Tinucci, the chief of the Supercharger department, was among the more than 500 workers who were let go. This abrupt shift put a snag in Tesla's expansion plans at a very important moment, bringing all new charging station installations to a grinding halt. It demonstrates just…
Nigeria, the biggest producer of crude oil in Africa, has declared plans to boost its current output from 1.8 million barrels per day to three million barrels per day by 2025. The nation produced about 1.4 million barrels of oil in 2023, but this year's production reached 1.8 million due to persistent military action against oil theft, pipeline destruction, and the crackdown on illegal refineries. Nigeria launched the second phase of Operation Delta Sanity II (OPDS II) in Port Harcourt on Monday in an attempt to meet its goal.   Speaking during the introduction, Heineken Lokpobiri, Minister of State for Petroleum Resources (Oil), stated that the Nigerian Navy had moved forward with the second phase of the OPDS since the first phase, which was introduced on January 10, had helped to enhance production figures. Nigeria produced just one million barrels of crude oil per day in August 2023. At the…
The price of gasoline may go below ₦500 per litter.   Industry analysts forecast that the price of Premium Motor Spirit (PMS), commonly referred to as gasoline, will drop significantly in 2025, possibly falling below ₦500 per liter. Currently, gas prices at different gas stations range from ₦900 to ₦950 per liter. A strong downstream industry propelled by the Federal Government's deregulation program, steady foreign currency rates, and expanded domestic refining capacity is responsible for the expected price decline.   Important Elements Promoting Price Cuts Enhanced Capacity for Local Refining: It is anticipated that the opening of the Port Harcourt and Warri refineries as well as the Dangote Refinery will increase domestic output and lessen reliance on imports. Seven million gallons of gasoline are presently injected into the domestic market every day by the Dangote Refinery. 1.4 million liters of gasoline are produced daily at the Port Harcourt Refinery, which started…
For a cool 1.5 million dollars, a Coca-Cola employee offered Pepsi corporate secrets. Coca-Cola was notified by Pepsi in response. Joya Williams and her accomplice Ibrahim Dimson were high-ranking Coca-Cola employees who had access to several documents concerning the company's products and upcoming initiatives. Williams and Dimson then approached Pepsi, putting up a $1.5 million deal to sell all of the executive secrets. Regretfully, Pepsi executives informed Coca-Cola and the FBI about Williams and Dimson. Then undercover officers from the FBI dressed as Pepsi executives were sent. These undercover FBI operatives used a portion of the $1.5 million required to entice Williams and Dimson, who were then coerced into turning over the documents and the chemical vial. Dimson and Williams were apprehended with crimson hands.   The FBI proved their case in court by presenting the secrets and the proof of payment. Williams received an eight-year jail sentence in 2007…
Aliko Dangote, the president of Dangote Group, has explained why the first Premium Motor Spirit—also referred to as gasoline—sample from his refinery was clearer than the gasoline that is already in use. Speaking at a live stream from his refinery in Lagos State's Ibeju-Lekki neighborhood, Dangote emphasized that cleaner gasoline is better for the environment and may help lessen health risks related to contaminated petroleum products. He mentioned that the new gasoline will shield engines from harm caused by conventional gasoline's lack of clarity. "This is the gasoline sample," he declared. It may appear to be a different color, but that is the case. You will now possess a genuine and high-quality product.   "I'm sure Nigerians haven't seen this color of diesel before," Dangote added about the diesel's color. "We refer to this as Euro-5 diesel. Less than 10 parts per million (PPM) of sulfur are present in it.…
An agreement on a gas pipeline for the Gulf of Guinea has been signed by Presidents Bola Tinubu and Teodoro Mbasogo of Equatorial Guinea. The agreement on the Gulf of Guinea gas pipeline project was signed on Wednesday, according to a statement released on Thursday by the president's spokesperson, Ajuri Ngelale. According to Ngelale, the deal strengthens the two countries' cooperation for development. Ngelale claims that the agreement addressed general principles, ownership of the gas pipeline, establishment and operation of the pipeline, and legislative and regulatory procedures about the gas pipeline.   During his speech, Tinubu stated that the agreement's signature would create new jobs and chances for gas development. In a private meeting that took place before the agreement's signature, the president stated that the two leaders talked about matters about the continent's conflict resolution mechanisms, food security, employment development, and multilateral ties. "Conflicts and their settlement were discussed…
The top 10 countries that import petroleum products from Nigeria's $20 billion Dangote Refinery include the United States of America, Spain, France, South Korea, Angola, Togo, Guinea, Belgium, Israel, and Singapore. This is happening concurrently with a vote of confidence in the Dangote Refinery being passed by students nationwide in postsecondary educational institutions operating under the National Association of Nigerian Students, or NANS.   Nonetheless, fuel oil, gasoline, jet fuel, and naphtha are among the goods that have been sent to the nations at various points in time, bringing in more foreign cash for the country. Argus Group, United Kingdom, revealed in its presentation at a recent virtual event, Nigeria's Dangote Refinery - What it Means for Trade Flows and Price Benchmarks, obtained by Vanguard, that the refinery has altered the direction of petroleum product trade flows between West Africa and other regions while creating many new jobs.   Generating…
Page 1 of 9

BW Social Share

Search