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 […]

Exports of Nigeria’s Forcados grade of crude oil resumed on Sunday, a Shell  spokesperson said on Monday, roughly a month after loadings of the medium sweet grade were suspended because of a potential leak at the export terminal as reported by Reuters. Sources had told Reuters that exports of the grade, which was scheduled to ship […]

The Nigerian Content Development and Monitoring Board (NCDMB) and the Anti-Corruption Agency of Nigeria (ACAN) recently concluded a three-day sensitization workshop on “Achieving Zero-tolerance for Corruption in the Workplace,” with staff educated on the types and potential consequences of corruption as well as appropriate safeguards. Declaring the workshop open on Day 1, the Executive Secretary […]

In order to stop the alternate resort to truck crude production from oilfield OML 18 owing to incessant vandalism of the export route by pipeline vandal, the operators of the oilfield has resulted to construct an alternate subsea crude oil transportation pipeline. The plan to invest in such capital intensive project instead of the conventional […]

Indigenous oil and gas companies must instill principles of corporate governance in their operations if they are to grow and achieve sustainability, the Executive Secretary of the Nigerian Content Development and Monitoring Board (NCDMB), Engr. Simbi Kesiye Wabote has said. Speaking virtually on Friday at the ceremony marking the rebranding of the Niger Delta Exploration […]

The prevailing uproar generated by the recent fuel subsidy removal by the Nigeria current administration of President Ahmed Bola Tinubu is gradually attracting possible and sustainable ways of cushioning the draconian effect of fuel hike in the country.  One of the possible avenues of cushioning this harsh effect of fuel hike on the citizenry is […]

TGS-Petrodata said it has secured a Petroleum Exploration License (PEL) with support from the Nigerian Upstream Petroleum Regulatory Commission (NUPRC) for the commencement of the Awele South 3D multi-client survey offshore Nigeria. This project was previously announced at the TGS Capital Markets Day on 7 March 2023. “TGS-Petrodata has an extensive multi-client data library in […]

In addition to the recent Bonga contract extension in Nigeria, Valaris said that the company has been awarded a 12-well contract offshore West Africa for drillship VALARIS DS-7, which will be reactivated for this contract. The Company also announced that it is increasing its 2023 share repurchase target from $150 million to $200 million. The […]

The crucial highlights and meaningful contributions of the global energy stakeholders at the just concluded NOG Energy Week 2023 recently held in Abuja, Nigeria should not be deliberated without placing special emphasis on the seasoned and all encompassing address made by the Organization Petroleum Exporting Countries (OPEC) Secretary General H.E Haitham Al Ghais. Highlighting his […]