Skye Bank seeks to take possession of Omokore’s oil wells

The management of Skye Bank Plc in a letter to Acting President Yemi Osinbajo, is seeking to take over some oil wells belonging to...

Oil majors awash with cash despite low crude prices

The prospect of crude remaining near the current $50 level is no longer a doomsday scenario for the world’s oil majors whose latest earnings...

Nigeria requires $50bn to fix infrastructure – Kachikwu

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu said Nigeria wasted so much of its fortune from lack of planning and policy...

NNPC signs alternative financing agreements with Chevron, Shell

Two sets of alternative financing agreements on Joint Venture (JV) projects to boost reserves and production in line with government’s aspiration were executed in...

MRS Oil Nigeria releases H1 2017 results

MRS Oil Nigeria Plc, an indigenous downstream player has released its H1 2017 financial statements and has reported a half year pretax profit of...

Caverton Helicopters $55m loan repayment obligations discharged by Shell

The Shell Petroleum Development Company of Nigeria Limited (SPDC) has confirmed the non-indebtedness of Caverton Helicopters Limited on the $55 million loan advanced to...

AfDB readies $12bn to invest in energy for Nigeria, others

According to Dr. Akinwunmi Adesina, president of the African Development Bank (AfDB), the bank plans to invest the sum of $12billion to tackle the...

New oil policy to cap FG’s oil revenue expenditure, to be moved to SWF

The Federal Executive Council (FEC) has approved a new National Petroleum Policy initiated by the Ministry of Petroleum Resources, which would place a cap...

Kachikwu calms fears of potential impact of OPEC output cap on budget

The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has ruled out worries over the government’s recent submission of a proposal to the...

Seplat returning to strong production, operating profit

Seplat Petroleum Development Company Plc ("Seplat" or the "Company"), a leading Nigerian indigenous oil and gas company listed on both the Nigerian Stock Exchange...

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