Navy boss promises to stamp out oil theft

The Flag Officer Commanding, FOC, Nigerian Navy Logistic Command, Oghara, Delta State, Rear Admiral Abdu Shettima, says the Federal Government will continue to renew...

Nigeria’s oil output down to 1.96mbd – IEA

Nigeria’s crude oil output declined to a six-month low of 1.96 million barrels per day, mbd, according to the International Energy Agency, IEA. This means...

Nigerian oil and gas deposits to deplete within 40 years

A professor of Medicine and sustainable environment advocate, Prof. Vincent Idemyor, has predicted that Nigerian oil and gas deposits, particularly in the Niger Delta...

Samsung Heavy wins $3bn FPSO platform order from Nigeria

South Korean shipbuilder Samsung Heavy Industries said Thursday it had won a $3.0 billion order to build a giant offshore oil storage platform in...

Nigeria’s OML 30 back producing over 35,000b/d according to Heritage Oil

Heritage Oil reported Wednesday its Oil Mining Lease, OML, 30 concession in Nigeria is back to producing more than 35,000 barrels of oil per...

EIA estimates 345bn barrels of shale oil worldwide

The US Energy Administration, EIA, has issued its first estimate of technically recoverable shale and tight oil worldwide, a sum of 345 billion barrels. The...

Nigerian authorities approve JBR’s acquisition of 47% direct interest in Marginal Field

James Bay Resources Limited now has its Joint Operating Agreement and Deed of Assignment with Bicta Energy, the Nigerian holder of Ogedeh marginal field,...

Chevron mulls divestment of its stake in two OMLs

Chevron has unveiled plans to auction its stake in Oil Mining Leases (OMLs) 83 and 85 offshore Nigeria. The oil fields are situated in shallow...

Shale Oil Rattles OPEC, may have significant implications for Nigeria in the future

There is, frequently, a debate on whether the world could, one day, find a replacement for sweat crude. What is, however, not disputable is...

Lack of Investment in the Upstream Sector May Halt Nigeria’s Growth

A report has warned that if Nigeria’s crude oil production remains at its current level due to insufficient investments in the upstream sector, the...

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