Angola, Namibia to replicate funding model The Nigerian Content Development and Monitoring Board (NCDMB) and the Bank of Industry (BoI) have signed an amendment to the Memorandum of Understanding (MoU) on the $50million NOGaPS Manufacturing Fund. The Fund was created by the NCDMB and domiciled with BoI to attract oil and gas equipment manufacturers to […]
Nigeria, traditionally Africa’s largest oil producer, has seen its oil and gas (O&G) production struggle to maintain its potential output for much of the last decade. For a country that boasts abundant O&G reserves of 37,100 mmbbls and 206 tcf, production remains well below the average of 3 mmboepd seen from 2010-2015. This is partly […]
The Managing Director and Chief Executive Officer of Nigeria Liquefied Natural Gas Dr. Philip Mshelbila has called for stability in the financial fiscal policies of the Nigerian Government as regards to multiple taxations from its revenue agencies. The NLNG boss stated this when the Board of Directors and Management of Nigeria LNG Limited paid a […]
Maurel & Prom (M&P) said that, following a bid process, its Board of Directors approved the signature of, and M&P has signed, a Share Purchase Agreement (SPA) with Carlyle International Energy Partners for the acquisition of 100% of the shares in Assala Energy Holdings Ltd. and all of its subsidiary entities holding the Assala group’s […]
Neptune Energy has kicked off drilling operations at its operated Yakoot exploration well, located in the North West El Amal Concession in the southern Gulf of Suez, Egypt. It is the first operated well to be drilled by Neptune in Egypt. The operation is being carried out with the ADM-8 rig, operated by ADES, and […]
In a deliberate effort to deepen Internet penetration and digital education in the country, the Nigerian Content Development and Monitoring Board (NCDMB) on Tuesday commissioned three state-of-the-art Information and Communication Technology (ICT) Centres, with dedicated broadband Internet, in three rural secondary schools in Akwa Ibom State.The benefiting institutions are Girls High School, Ikot Ibiok, Northern […]
The NNPC Ltd. And Afrexim Bank have recently signed a commitment letter and Termsheet for an emergency $3billion crude oil repayment loan. The signing, which took place at the bank’s headquarters in Cairo, Egypt has generated major media divergent views as regards to the purpose and motive behind securing such huge load amid prevalent economic […]
Cheiron said that it has made a new oil discovery in the Geisum and Tawila West in the Gulf of Suez. Cheiron (through its PICO GOS affiliate) holds a 60% working interest and operatorship in the Concession, with Kufpec holding the remaining 40% interest. The field operations are managed by the PetroGulf Misr Joint Operating […]
According to 21 years of NEITI 2021 Audit Reports for the oil, gas and solid minerals sectors which was a subject to review and approval, Nigeria has earned $741.5bn and N635.3bn from the oil/gas and solid minerals sectors respectively, between 1999 and 2020. This sterling information was revealed on Wednesday October 16, 2023 by the […]
The Nigerian National Petroleum Company Limited, NNPCL, is among firms the government may sell a stake in, according to the chief executive officer at the Ministry of Finance Incorporated, MOFI, Armstrong Takang Bloomberg reported. MOFI is a state-owned asset management company. The agency is considering options including strategic sales and initial public offerings and aims […]
