Last month, Nigeria’s national oil company – the Nigerian National Petroleum Corporation (NNPC) – published its group-level audited financial statement for the first time in the corporation’s 43-year history. These were published alongside the 2019 audited accounts of its subsidiaries, following the disclosure of the 2018 audited accounts in June. The move represents a significant milestone for […]

San Leon has announced that it has entered an agreement with its partner Decklar Petroleum Limited as further discussion to its previous announcement of 1 September 2020 regarding its proposed investment of the Oza Field in Nigeria. The parties have agreed to a further three week extension to 21 November 2020 in order to finalise […]

ADM Energy a natural resources investing company with an existing asset base in Nigeria with holding 5% profit interest in the Aje Field being part of OML 113 has appointed Lionel Therond as its new chief financial officer in a non-Board role with immediate effect. Therond was previously an exploration and production geoscientist before spending […]

The Nigeria Petroleum Regulatory Body Department of Petroleum Resources (DPR) has stated recently that the bid round process for its 57 marginal oilfields in the country is still ongoing. Mr Paul Osu, Head, Public Affairs, DPR, told the News Agency of Nigeria (NAN) nade this disclosure recently in Lagos that the bidding process has not […]

The Nigeria state owned firm Nigerian Petroleum Development Company (“NPDC”) and FIRST Exploration and Petroleum Development Company (“FIRST E&P”) Joint Venture has announced the commencement of joint venture oil production from the Anyala West field in Oil Mining Leases (OMLs) 83 & 85. With the acquisition transaction for the 40% interests in both OMLs was completed in […]

The Nigerian National Petroleum Corporation (NNPC) has disclosed that the volume of oil deposits Nigeria holds declined by 2.16 per cent between 2018 and 2019 and is now 36.89 barrels (bbls). As reported In NNPC’s Annual Statistical Bulletin (ASB) for 2019 which was obtained by THISDAY, the corporation noted that, While the country’s oil deposit […]

The Department of Petroleum Resources (DPR) has affirmed the suitability of the 5,000 barrels per day (bpd) Waltersmith Modular Refinery project for refining operations. The Director of DPR, Sarki Auwalu, during a pre-commissioning visit to the project site located in Ibigwe, Imo State said that the purpose of the visit is to make sure that […]

The Nigerian Content Development and Monitoring Board (NCDMB) and key organisations in the oil and gas industry -the Petroleum Technology Association of Nigeria (PETAN), Petroleum Contractors Trade Section (PCTS), Oil Producers Trade Section (OPTS) and the Nigeria LNG Ltd have advised against increasing the percentage of the Nigerian Content Development Fund (NCDF) from the current […]

Sarki Auwalu, Director, Department of Petroleum Resources says Nigeria’s target of 40 billion barrels oil condensate reserve by 2025 is realistic and achievable. He says this is so, with the policies and programmes being implemented by the Federal Government. The News Agency of Nigeria reports that Auwalu spoke on Saturday at the Society of Petroleum […]

The Nigerian Content Development and Monitoring Board (NCDMB) has commended Total Exploration and Production Nigeria (TEPNG) and Pipe Coaters Nigeria (PCN) Limited for the local content strides being recorded on the Total Ikike Line Pipe Coating Project, which is ongoing at PCN facility in Onne Free Trade Zone, River State. The Executive Secretary of NCDMB, […]