United States-based Exxon Mobil Corporation on Thursday said it had discovered up to one billion barrels of oil on the Owowo field offshore Nigeria.
The oil major said it was &ld… Read More
U.S based oil giant, Exxon Mobil corporation says it has discovered about one billion barrels of Crude oil at the Owowo field located offshore Koloama community in Bayelsa state. The Owowo-3… Read More
Nigeria’s oil sector has received a major boost asAmerican oil major, ExxonMobil Corporationyesterday revealed discovery of significant oil with apotential recoverable resource of betw… Read More
CBN Governor, Mr. Godwin Emefiele.
Deposit money banks in Nigeria have been reminded once again that intervention funds of the Federal Government should not be lent to institutions on exploi… Read More
Nigeria grapples with the economic challenges it is presently enmeshed in, indications have emerged of a brighter future in the nation’s oil and gas sector, with new oil reserves which… Read More
As Nigeria grapples with the economic challenges it is presently enmeshed in, indications have emerged of a brighter future in the nation’s oil and gas sector, with new oil reserves wh… Read More
The Nigerian National Petroleum Corporation, NNPC, has secured $2billion discounts in the last one year from renegotiated Upstream contracts being executed by its various service providers… Read More
The Nigerian National Petroleum Corporation (NNPC) has secured $2 billion discount from re-negotiated upstream contracts being executed by its various service providers in the last one year… Read More
Fellow colleagues, it has been one year since my assumption of office as your Group Managing Director. I want to thank you for the immense support I have received within this period. We have… Read More
Despite the passage of the Petroleum Industry Governance Bill (PIGB), stakeholders still feel that the main issues in the industry have not be tackled. To them, the real issues in the Petrol… Read More
The Deputy Managing Director, Deep Water, Total Upstream Nigeria Ltd., Ahmadu-Kida Musa, yesterday in Abuja, said the country must put in place sustainable Production Sharing Contract (PSC)… Read More
Oil and gas industry experts have expressed deep concern over the drop in investment in oil and gas projects to its lowest level in recent years, leading to the stagnation of the country&rsq… Read More
The $3.7 billion gas development agreement between oil giant Shell and the Nigerian National Petroleum Company (NNPC) alongside two other companies, is set to transform Nigeria’s midst… Read More
When it comes to the future of its oil industry, Nigeria is looking miles out to sea. By early 2019, the largest offshore production vessel ever delivered to Nigeria in Total SA’s $4 b… Read More
ExxonMobil is in the market for a contractor to carry out geophysical and geotechnical work in preparation for its Owowo deep-water project off Nigeria. Pre-qualification documents have been… Read More
The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of g… Read More
The Group Managing Director of the Nigerian National Petroleum Corporation, Dr Maikanti Baru, has said the passage of the four components of the Petroleum Industry Bill, which is expected to… Read More
Except urgent steps are taken, Nigeria may continue to lose the gains inherent in its deepwater assets that accounts for 40.47 per cent of the total production of 2.1 million barrels pe… Read More
Nigeria’s newly signed law to govern deep offshore oil operations set a record for the fastest bill so far passed under President Muhammadu Buhari.
First presented to lawmakers on Oct… Read More
A number of oil and gas projects valued at $58.4bn are facing an uncertain future as international oil companies operating in the country have failed to sanction them several years after the… Read More
Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country saw their financials take a dive in the second quarter of this… Read More
International oil companies have started reporting their 2020 results, and three of those operating in Nigeria posted record losses, a development that poses further threats to major project… Read More
Nigerian governors advised President Muhammadu Buhari-led's government to take some urgent steps as part of coordinated efforts to instill fiscal discipline and prevent the nation from… Read More
The governors were concerned about the deteriorating state of the economy and the ripple effect on the nation ahead of the 2023 general elections.
Nigerian governors advised President Muhamm… Read More
The Nigerian National Petroleum Company (NNPC) Limited has announced a timeline for the drilling of two oil wells on the Bonga oil well, with the drilling of about 12 more oil wells in Imo… Read More
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has said that it working hard to achieve additional 400,000b/d from some mega projects, to enable it surpass the 1.8million barr… Read More
Chief executive officer of Upstream Petroleum Regulatory Commission (NUPRC), Gbenga Komolafe, has said that Nigeria is currently positioned to benefit from over N200billion in new investment… Read More
That Nigeria has lost a lot of revenue from oil is a fact. However, unknown to many, 40 per cent of this is caused by measuring inaccuracies in the system. Determined to put a stop to this… Read More