S&P slashes Nigeria credit rating on oil production drop

Ratings agency Standard & Poor’s cut Nigeria’s credit rating on Friday, saying the drop in oil production and a restrictive foreign exchange regime was...

Oil companies may cut capex in 2015 amid falling prices

Analysts have said that oil companies are to cut capital spending next year due the decline in crude oil prices which is expected to...

Reps probe JV agreements with IOCs

The House of Representatives has requested from the National Petroleum Investment Management Services (NAPIMS), details of Joint Venture Agreements (JVA) with International Oil Companies...

Petroleum minister backs splitting up PIB for easy passage

The Petroleum Industry Bill (PIB) in its present form is too complex for a country like Nigeria and may need to be broken into...

Kachikwu refutes concession for PH refinery repair

The Federal Government yesterday said that there was no arrangement to concession the Port Harcourt Refinery. The government also revealed that the planned revamping...

Chevron looks to Nigeria for 3.3m daily production target

Chevron is positioning the Nigerian fields as part of its target to raise its global oil production to 3.3 million barrels of oil equivalent...

NNPC cancels oil swap bidding, crude to go directly to refiners

The Nigerian National Petroleum Corporation (NNPC) has said that it has cancelled bidding for new crude oil swap agreements and will instead directly sell...

Indigenous firms’ saw steep declines in oil production for 2016

Indigenous oil companies have been worse hit than their foreign counterparts in recent times as they posted steep declines in production last year, with...

MAN Diesel & Turbo to install compressors, turbines for Dangote refinery

With a double-digit million dollar order volume, Germany-based MAN Diesel & Turbo will deliver two compressor trains to Dangote Oil Refining Company, Leadership reports....

Pakistani govt approves oil and gas imports from Nigeria

The Pakistani government has given the go-ahead to the Ministry of Energy for kicking off negotiations with Nigeria to explore the possibility of cooperation...

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