Two firms on collision course over Chevron’s oil blocks

Barely two weeks after Chevron Nigeria Limited’s attempt to divest of 40 per cent in Oil Mining Leases (OMLs) 52, 53 and 55 resulted...

Discovery of oil in Bauchi is false – Geologist

The claim of oil or gas at the Benue trough in Bauchi State has been described as mere political statement rather than an economic...

NPDC output to hit 200,000 bpd

The operating arm of the Nigerian National Petroleum Corporation, NNPC, delivered gross production of 191,025 barrels per day, bpd in mid-December 2013, a higher...

Oando Energy signs second facility agreement with parent company

Oando Energy Resources Inc., a  company focused on oil and gas exploration and production in Nigeria, Thursday announced that it had entered into a...

Nigeria gets weak rating in crude oil resources management

Nigeria received a “weak” score of 42, ranking 40th out of 58 countries in performance on the Resource Governance Index (RGI) in oil and...

Shell to sell off $2bn assets in Niger Delta

Royal Dutch Shell is to start the sale of $2 billion oil and gas assets in the Niger Delta in 2014 after weak refining...

2014 outlook: Crude markets to be shaped by economy, mideast

The crude oil markets in 2014 are expected to continue along similar lines to this year with no real concerns over overall supply levels...

AFC underwrites $65m swamp rig acquisition facility

The Africa Finance Corporation has underwritten $65m of a $100m senior secured term loan facility for Depthwize Nigeria Limited for the acquisition and upgrade...

Shell could divest up to $30 billion of assets

Oil giant Shell is to start a sale of up to $30 billion (GBP18 billion) of assets next year after weak refining margins and...

Oil leases: FG dashes renewal hope of Shell, Agip, others

Hope that renewal of the 20-yearly oil leases for Shell, Eni (Agip), and other two International Oil Companies (IOCs) operating in Nigeria’s multi-billion dollars...

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