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Nigeria

Nigeria: DPR Revokes Addax Petroleum Oil Mining Licenses

The Department of Petroleum Resources (DPR) has revoked four Oil Mining Licenses belonging to Addax Petroleum owing to the non-development of the assets by the petroleum company. The affected assets are OML 123, 124, 126 and 137. Speaking during an interactive session with journalists in Lagos on Tuesday, the Director/Chief Executive Officer, DPR, Mr. Sarki […]

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ADM Energy completes 15th Cargo Lifting at Aje Field offshore Nigeria

ADM Energy PLC, a natural resources investing company, has announced the completion of the 15th Lifting  at the Aje Field, part of OML 113 offshore Nigeria. The Lifting totaled 225,000 barrels (52,000 barrels were left in the tank) with a net share of 27,675 barrels to ADM, which equates to ADM’s paying interest of approximately 12.3%. […]

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Maire Tecnimont: USD 1.5 billion Refinery contract has consolidated our presence in Nigeria

Maire Tecnimont S.p.A. has announced that its subsidiary Tecnimont S.p.A. has been awarded a contract by the Federal Executive Council to carry out Rehabilitation works for the Port Harcourt Refinery Company Limited, located in Port Harcourt, Rivers State, in Nigeria, which is a subsidiary of Nigerian National Petroleum Company (NNPC).  The overall contract’s value is about USD 1.5 billion. […]

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Nigeria: Seplat Petroleum gives financial update on OML 55, blames incurred loss on fall in oil prices

Seplat Petroleum the Nigeria’s indigenous leading upstream oil company, has reported that it took an impairment loss of N41.1 billion ($114.4 million) from its interest in OML 55, a contentious Oil block it currently shares with Belemaoil under a management contract signed in 2017.  The losses contributed significantly to the company’s full-year loss of N30.7 […]

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Nigeria may need $4bn for Kaduna, Warri refineries, pipelines rehabilitation

Nigeria said it welcomes all interested countries as it seeks a combined $4 billion for rehabilitation of both Warri and Kaduna refineries, including associated pipelines. A proposal on ‘Nigeria National Petroleum Corporation Energy Infrastructure Opportunities’ presented by the Nigerian National Petroleum Corporation, NNPC to the U.S Commercial Service said the sum of $2.5 billion is […]

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Total kicks off Ikike field project, offshore Nigeria, by the end of 2021 and E & P highlights across Africa

The company set out its plans in its annual filing with the US Securities and Exchange Commission (SEC). Total began drilling an appraisal well on Block 20/11 in January and another is planned for Block 48 this year. It bought the former block in June 2020, following the collapse of Cobalt International Energy, which had […]

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DPR Outlines 5 Critical Levers for Robust Gas Development in Nigeria

The Department of Petroleum Resources (DPR) has outlined five critical levers for gas development as Nigeria moves to leverage its abundant gas resources for national growth, diversification of the economy and to use gas as the fuel for  economic transformation. A statement issued on Monday by Mr Paul Osu, Head, Public Affairs, DPR said Mr Sarki […]

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Elohor Aiboni assumes office as first female Managing Director, Shell Nigeria

The Exploration & Production arm of Shell Nigeria SNEPCO has appointed Elohor Aiboni as its first female Managing Director. The development was confirmed by one of the aides of President Muhammadu Buhari on Social media, Lauretta Onochie via her Twitter handle. She Tweeted:  Shell Nigeria Exploration and Production Company has appointed Eloho Aiboni, as its […]

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Desipite Covid Nigeria Oil Generated Revenue Reaches N2trn In 2020

The Nigeria’s oil and gas regulatory boby Department of Petroleum Resources (DPR), has said that it generated over N2 trillion in 2020. Director/chief executive officer of DPR, Engr Sarki Auwalu, who made the disclosure while delivering a keynote address at the 2021 Oloibiri Lecture Series and Energy Forum, organised by the Nigeria Council, Society of Petroleum […]

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ADM Energy indicates investment interest in Barracuda Oil Field, Nigeria

Sequel to previous announcement made on 18 February 2021, ADM Energy PLC, a natural resources investing company, has announced that it has conditionally agreed to invest in the development of the Barracuda oil field in OML 141, an existing discovery and near-term production asset in swamp/shallow waters offshore Nigeria.  The investment will be made by […]

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