Nigeria’s oil production has been declining, missing its OPEC quota and severely hobbling government finance
Nigeria’s NOC NNPC has signed an agreement with partnered oil majors to cut deadlines on contract negotiations from three years to six months, Reuters reported on Monday.
Key operating International Oil Companies (IOCs), in Nigeria are considering investing over $55 billion in various oil and gas activities up to 2030 in a renewed interest in the country’s energy sector.
Presently, energy investments totalling $13 billion have been successfully attracted
The Federal Government, on Wednesday, announced that it issued letters of award to 42 firms for the 2022 Nigerian Gas Flare Commercialisation Programme.
A review of global oil prices on Oil Price early on Wednesday, September 13 (5:36 AM, GMT+1), showed that Brent crude is at $92.28 per barrel.
LAGOS — Implementation of the 2023 budget of N21.8 trillion is currently threatened as the nation has suffered a shortfall in crude oil output, amounting to 470,000 barrels per day, bpd in August 2023.
SINGAPORE, Sept 5 (Reuters) – Nigeria has sufficient natural gas reserves and can increase its production to more than 5 billion cubic feet per day by 2030, Ekperikpe Ekpo, Nigeria’s minister of state for gas, told the Gastech conference on Tuesday in Singapore.
MILAN/LONDON, Sept 4 (Reuters) – Italy’s Eni (ENI.MI) has agreed to sell its Nigerian onshore subsidiary to local company Oando (OANDO.LG), the two companies said on Monday, the latest international energy giant to divest onshore assets in the West African country.
WorldStage Newsonline– The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has threatened to revoke the licences of oil operators or settlors who failed to remit the three per cent statutory fees to oil communities before September ending.