Nigeria lost N3.3 trillion oil revenue in 2016 – EIA

The Federal Government recorded a deficit of $11 billion (N3.3 trillion using the official exchange rate of $305 per dollar) revenue from crude oil...

Shell paid $29b to FG over 5 years – MD

The Country Chair, Shell Companies in Nigeria (SCiN) and Managing Director of SPDC, Osagie Okunbor, has said that the Shell Petroleum Development Company of...

Libya, Nigeria oil output stokes concern for OPEC but geopolitical risks remain

Rising oil production in Libya and Nigeria is raising concerns about OPEC's ability to boost crude prices, but potential conflicts in the two nations...

Agip to contribute two undeveloped fields to marginal fields bid round

For the first time ever, undeveloped discoveries in Nigerian Agip Oil Company operated acreages may be awarded as marginal fields, as it was learnt...

Lagos inaugurates state oil company; Ibile Oil and Gas Corp.

The Lagos State Government Monday formally inaugurated the state-owned oil company, Ibile Oil and Gas Corporation (IOGC) as a business arm of the state...

PENGASSAN extends Exxon Mobil strike to Chevron, Agip and Shell

Nigerian workers from an oil labour union have extended a strike to oil majors Chevron, Shell and Eni subsidiary Agip in protest over the...

Oil jumps to $52 as Saudi, Russia agree to extend cuts till 2018

Oil prices began the week on a positive note, as Saudi Arabia and Russia, the world’s largest producers, agreed to extend the historic OPEC...

Neconde alleges threat to its $558 million asset by PENGASSAN

The Management of Neconde Energy Limited, a member of the Obijackson Group and operator of the Oil Mining Lease, OML 42, has raised the...

Baru says NNPC to resume oil exploration in the Lake Chad Basin

The Nigerian National Petroleum Corporation (NNPC) says it will resume oil exploration in the Lake Chad Basin of Borno state, NTA reports. The Group Managing Director...

Sale of shares of oil assets to foreigners may affect Nigerian content

The possible sale of shares of the Nigerian Petroleum Assets Management Company (NPAMC) and the National Petroleum Company (NPC), which will be vested with...

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