One of Nigeria’s largest oil producers owes $1.7bn to Shell and seven banks, which if unpaid, could do significant harm to the West African country’s financial system, say the lenders. Aiteo Eastern E&P purchased a pipeline and an operating interest in one of the nation’s most prized onshore oil blocks seven years ago for $2.4bn. […]

Crude oil theft has being an excruciating factor towards efficient harnessing of Nigeria oil and gas economy. This ugly economic situation was previously attributed to militia insurgency in Niger Delta but has been believed to been quenched via Federal Government amnesty program. The sudden resurfacing of this economic sabotage at higher scale now that PIB […]

LEKOIL has announced that Lekoil Nigeria Limited and its subsidiaries, Lekoil Oil & Gas Investments Ltd, Mayfair Assets & Trusts Ltd, Lekoil 276 Ltd and Lekoil Exploration and Production Ltd (the “Plaintiffs”)) have notified the Company of an ex-parte injunction granted by the Federal Court of Nigeria, Lagos Division, to restrain: (i) the transfer of […]

Helios Investment Partners (“Helios”), the Africa-focused private investment firm, acting on behalf of funds it advises, and Sojitz Corporation (“Sojitz”), one of the leading conglomerate investment and trading houses listed on the Tokyo Stock Exchange, announce the completion of the sale by Helios of a 25% interest in the holding company of Axxela, the largest […]

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and West Africa, notes the announcement from Lekoil Nigeria, dated 1 April 2022, offering to purchase the OPL 310 loan and to repay the outstanding amount under the Savannah Energy Investments Limited Convertible Facility Agreement.   The Company notes that neither offer […]

As part of its growth strategy to optimise the business and focus investments in core markets such as the Middle East, global drilling, engineering and technology provider KCA Deutag has completed the sale of its land drilling business in Nigeria for $18m to GeoplexDrillteq Limited. The sale includes five drilling rigs. GeoplexDrillteq Limited has purchased […]

The Nigeria commitment in the on-going Trans-Sahara Gas Pipeline project has recently received global relevance as Federal Government through the Nigerian National Petroleum Company Ltd-NNPC disclosed its planned massive gas investment in the country pipeline infrastructural developmentthrough gas delivery from Nigeria to Europe region. This was disclosed bythe Group Managing Director of the NNPC, Mele […]

San Leon, the independent oil and gas production, development and exploration company focused on Nigeria, has noted the announcement made by Decklar Resources Inc. (Decklar) in Canada.  San Leon has a 11.5% shareholding in Decklar Petroleum Limited (DPL), the local subsidiary of Decklar operating in Nigeria, and has also made a US$5.5 million loan to DPL, […]

 Nigerian Agip Oil Company, NAOC, has lifted force majeure on Brass terminal, Bonny NLNG and Okpai power plant following restoration of the Ogoda/Brass 24″ oil pipeline at Okparatubo, Nembe Local Government Area, Bayelsa State Sweet crude reported. Oilfield Africa Review has learnt that the force majeure was lifted after the pipeline was hit by blast […]

Nedogas Development Company Limited (NDCL), a joint venture company between Xenergi Limited a Natural-Gas technology company and a member of the Oildata Energy Group, involved in the conversion of Natural Gas into cleaner energy products such as LPG, Propane and mixed alcohols and NCDMB Capacity Development Intervention Company, has in collaborative partnership with the Nigerian Gas […]