The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) on Wednesday denied granting clearance for Shell PLC’s sale of its onshore subsidiary to a local player.
The joint venture (JV) between Nigeria National Petroleum Co. Ltd. (NNPC) and Chevron Corp. is targeting to reach production of 165,000 barrels of oil per day (bopd) by the end of 2024 after converting their licenses under the terms of the Petroleum Industry Act (PIA)
Saudi Arabia’s energy giant Aramco has topped a list of the world’s largest oil companies in terms of proven reserves, boasting figures 15 times greater than its nearest competitor, according to newly calculated figures.
ANALYSTS have said that SHELL’s exit from the Nigerian onshore oil business will attract varying consequences for indigenous firms and the country’s foreign exchange market.
RM Parks Inc. California-based US fuel distribution company signed an agreement with the BOI with an investment of U$ 100 million. The company will serve the Sri Lankan petroleum sector, in collaboration with Shell Plc.
Shell Plc, ExxonMobil Corporation, Chevron Corporation, and Equinor ASA have said they will withdraw their lawsuits of about $3 billion, against the Nigerian National Petroleum Company (NNPC) Limited.