Worries over Nigeria’s diminishing oil earnings

The future of Nigeria’s oil wealth starting from next year appears bleak as the USA and other major buyers of the nation’s crude in...

OPEC to commit $8tr on crude oil investment by 2035

Members of the Organisation of Petroleum Exporting Countries (OPEC) are expected to expend $8 trillion as crude oil investment requirements between 2012 and 2035. However,...

OPEC says will lose 8 percent of oil market share to shale, rivals

OPEC could lose almost 8 percent of its oil market share in the next five years as the shale energy boom and other competing...

LADOL justifies location of onshore FPSO integration

The management of Lagos Deep Offshore Logistics (LADOL) Base says its decision to go into Floating Production Storage Off-take (FPSO) integration was informed by the...

Helicopter services in oil and gas generate N96bn yearly

Commercial helicopter services in the oil and gas industry generate between $500-$600m (about N80-N96bn) annually. This is as the Federal Government has been called upon...

Lekoil provides update on proposed acquisition of interest in OML113, offshore Nigeria

AIM-listed Lekoil, the oil and gas exploration and development company with a focus on Nigeria and West Africa, announces that, further to the announcement...

Achieving reasonable contracting circle still a nightmare

By now it is thought that Nigeria’s oil and gas would have gone past the issue of long contracting circle thereby creating an enabling...

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...

DPR licenses EMC for satellite services

The Department of Petroleum Resource (DPR) has given approval to Emerging Markets Communications, Incorporated (EMC) to provide satellite and terrestrial connectivity services directly to...

Shell awards $2.4bn contracts to local companies

Shell Companies in Nigeria, SCiN has awarded contracts worth $2.4 billion to indigenous contractors in order to boost local content in the nation. The firm...

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