Oil production drops by 150,000 barrels, as Shell shuts Trans Niger Pipeline

Nigeria faces a serious credit crunch in the months ahead as crude oil production has dropped further by 150,000 barrels per day due to...

FG refuses bailout for marginal fields operators

The Federal Government has ruled out any intervention in form of provision of bailout funds for marginal oil fields operators in Nigeria. Speaking at the...

Afren Plc hits 42,000 bpd, boosts nation’s production capacity

Afren, a major oil and gas producing firm in Nigeria has realised a daily production of 42,000 barrels per day, bpd. The Chairman, Mr. Egbert...

WorleyParsons shares rise on Nigerian oil deal

Shares in mining engineer WorleyParsons are up three per cent after a South Korean shipbuilding giant awarded it a $US100 million ($A105.97 million) offshore...

Committee will submit PIB report by July 11 —Tambuwal

The Speaker of the House of Representatives, Aminu Tambuwal, said on Tuesday the House Committee on the Petroleum Industry Bill would submit its report...

Chevron to offload more Nigeria blocks

Chevron is reportedly putting up for sale interests in three more Nigerian oil blocks, taking to five the number of assets to be auctioned...

Lekoil plots offshore OML 113 acquisition

Junior explorer Lekoil announced Tuesday that it is planning to acquire a 6.5-percent participating interest in the OML 113 block, offshore Nigeria, for $30...

Nigeria’s crude oil production dropped in May – OPEC

The Organisation of Petroleum Exporting Countries (OPEC) has disclosed that Nigeria’s crude oil production declined from the 1.923 million barrels per day (bpd) it...

Italian parliament debates govt response to Eni’s acquisition of OPL 245 in Nigeria

Italy’s Parliament Friday debated the Government’s response to questions put to it about Italian oil company ENI’s conduct in acquiring Nigerian oil block OPL245. On...

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...

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