Global oil firms exit Nigeria as local companies seize control

(MENAFN) A noteworthy transformation has quietly unfolded in Nigeria’s oil industry over the past year, marked by the exodus of international oil companies from various parts of their operations within the country. The latest development came at the end of last month when Norwegian oil company Equinor finalized the sale of its Nigerian entity to the relatively unknown local firm, Chabal Energy. This move signified the conclusion of Equinor’s three-decade-long association with Africa’s largest oil producer.

Finally, Reps Clears NNPC Of Any Wrong Doing In Alleged Loss Of Over $2.4bn Revenue From Illegal Sale Of 48 Million Barrels Of Crude Oil

An Ad-hoc Committee that was set up by the House of Representatives to investigate the alleged loss of over $2.4bn in revenue from the illegal sale of 48 million barrels of Crude Oil in 2015 including crude oil exports from 2014 to date has cleared the Nigerian National Petroleum Company Ltd of any wrongdoing.