The American oil conglomerate, ExxonMobil, recently stated that it is nearing a $10 billion foreign investment decision with Africa’s largest oil producer, Nigeria.
Nigeria is positioning its oil and gas sector for renewed investment as government officials prepare to engage with global stakeholders at the Invest in African Energy Forum in Paris next month.
A flame rises from a gas flare at the Dangote Industries oil refinery and fertilizer plant site in the Ibeju Lekki district of Lagos, Nigeria
Despite the fact that Nigeria is now home to the biggest oil refinery in Africa, Nigeria’s gasoline prices have soared to a record high amid the war in the Middle East.
Nigeria has slashed the time it takes to approve applications to revive idle oil wells from weeks to hours as Africa’s top crude producer seeks to take advantage of high energy prices.
The Dangote Petroleum Refinery has exported 12 cargoes of refined petroleum products totalling 456,000 tonnes to five African countries, expanding its regional presence amid ongoing fuel supply challenges linked to geopolitical tensions in the Middle East.
The government of Nigeria has approved a fiscal incentive package to accelerate progress towards a positive FID on the Bonga Southwest Aparo (BSWA) deepwater project, the Nigerian National Petroleum Corporation (NNPC) announced on Tuesday.
Nigeria has temporarily suspended the enforcement and collection of helicopter landing fees imposed on oil and gas operators, following concerns raised by stakeholders in the petroleum industry.
TGS has announced the launch of the Nigeria Laide multi-client 3D survey offshore Nigeria, covering approximately 11,700 square kilometres, the company said on Friday.
Nigeria will launch exports of a new crude grade in March as OPEC’s biggest African oil producer looks to boost output and exports and seek a higher baseline in the OPEC+ agreements.