Elumelu broadens oil and gas focus, expands into West African offshore services

Tony O. Elumelu’s pan-African investment vehicle, Heirs Holdings, today announced a substantial investment in Seadrill Mobil Units (Nigeria) Limited, an affiliate of one of...

OPEC daily basket price stood at $109.28 a barrel Tuesday, 27 August 2013

The price of OPEC basket of twelve crudes stood at 109.28 dollars a barrel on Tuesday, compared with $108.36 the previous day, according to OPEC Secretariat...

Federal Government, IOCs still at loggerheads over PIB

Stakeholders in the oil and gas industry were full of optimism when President Goodluck Jonathan presented the repackaged Petroleum Industry Bill, PIB, to the...

Afren production boosted by Nigerian oil fields

Some Nigeria’s oil fields have increased Afren Plc oil output by 13 per cent. The latest report of the firm stated that the period...

Oil theft knocks Nigeria’s oil output to four-year low

Nigeria is suffering the worst wave of oil production disruptions in four years, with output falling to levels last seen before the government’s amnesty...

FG, IOCs negotiations to renew 20 year oil block licences continues to linger

The negotiations between the Federal Government and each of the four major International Oil Companies (IOCs)-Shell, Chevron, Eni and Total, to renew 20-year oil...

Petrofac clinches strategic alliance partnership for OML 119

Petrofac, in league with local content vehicle Taleveras, has won the strategic alliance partnership of NPDC to fund the operations in the Oil Mining...

FG risks $185bn loss over the next 10 years from PIB – Exxon Mobil...

Nigeria risks losing $185bn within 10 years as higher taxes proposed by a new law will deter investments in the country’s oil industry, an...

Threat of a powerless OPEC may have dire consequences for Nigeria

Nigerian leaders seem to be gradually waking up to the rude reality that the preponderance of oil in the nation’s economy truly portends danger...

Oil majors to stay on in Nigeria despite operational challenges, oil theft

A wave of planned sales of onshore Nigerian assets by oil majors has prompted speculation that they are finally leaving the Niger Delta because...

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