The Nigerian National Petroleum Company Limited has refuted the reports in an isolated section of the media alleging underhand dealings in the award of contracts for the rehabilitation of pipelines across the country.  The corporation in its media release found it crucial to provide accurate information to address any misconceptions and ensure transparency in its […]

Nigeria President Bola Ahmed Tinubu has recently declared that with the hitherto abandoned Ajaokuta Steel Complex is now nearing completion, positing that the project has the capacity to employ 500,000 Nigerians once designated as a free trade zone. The President further promised to fully harness the potentials of the Complex once it is completed, as […]

The difficulty in sourcing or accessing foreign exchange by Independent Marketers to enable the importation of Petroleum Motor Spirit in Nigeria is tending towards emergence of the product scarcity in the various service stations across the country. This eminent ugly trend is coming almost in same period when the Nigerian National Petroleum Company Limited has […]

The Minister of State for Petroleum Resources (Oil), Senator Heineken Lokpobiri, has identified the effective implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act 2010 as one of the key levers for actualizing the Renewed Hope Agenda of President Bola Tinubu’s administration. Speaking during his tour of NCDMB facilities and projects in […]

The ongoing and planned divestments of onshore assets by some international operating oil and gas companies (IOCs) and subsequent acquisition by Nigerian operating companies must not be allowed to impact negatively on the level of compliance with the Nigerian Oil and Gas Industry Content Development (NOGICD) Act and remittance of tax revenues to the Federal […]

Shelf Drilling said that it has secured contracts for the Adriatic I and the Shelf Drilling Mentor jack-up rigs foroperations offshore Nigeria for firm durations of 16 months and 8 months, respectively. The combined estimated contract value for the two rigs is approximately USD 93 million, excluding revenues for mobilization and demobilization.  Both rigs completed […]

PetroNor E&P has increased its investment portfolio in Nigeria oil and gas sector by new venture  into a binding agreement with New Age (African Global Energy) to acquire New Age’s interests in OML 113 in Nigeria which contains the Aje Field. This acquisition not only strengthens the company’s position in OML 113 but also opens […]

The Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi KesiyeWabote, has commended Abia State Governor Dr. Alex Otti for the decision of his Administration to establish the Abia Industrial Innovation Park (AIIP), Owaza, in Ukwa West Local Government Area of the State.     In a Goodwill Message at the groundbreaking ceremony […]

With the goal of quickly ramping up Nigeria’s flagging crude oil production, ensuring compliance with the provisions of the Nigerian Content Act, and timely approvals of documents, the Nigerian Content Development and Monitoring Board (NCDMB) on Monday in Abuja signed a Memorandum of Understanding (MoU) cum Service Level Agreement (SLA) with the Nigerian National Petroleum […]

The Nigeria current crude oil production is expected to add up with 40KBPD according to a pledge made by the ExxonMobil President Liam Mallon to the Nigerian President Mr. Ahmed Bola Tinubu at the sideline meeting of the 78th United Nation General Assembly. The good news was disclosed by the Nigerian presidential spokesperson Ajuri Ngelale […]