1.       INTRODUCTION: Nigerian National Petroleum Corporation (NNPC) is empowered pursuant by the NNPC Act (LFN Cap. 320) to engage in all commercial activities relating to Petroleum Operations. In compliance with the Public Procurement Act 2007 and NNPC’s Policy and Procedures, NNPC intends to engage qualified and credible companies in a Direct Sale of Crude Oil […]

Nigeria’s state oil company Nigerian National Petroleum Corporation has established bids for contractors and investors perform rehabilitating and engineering job in a revamp of the nation Port Harcourt refinery. The Port Harcourt Refinery is made up of two refineries located at Alesa-Eleme, Rivers State. The old refinery has a refining name plate capacity of 60,000 barrels per day and was commissioned in 1965, […]

The Supreme Court’s affirmation of Rivers State Government’s acquisition of 45 per cent equity stake in Oil Mining Lease (OML) 11 and Kidney Island in Port Harcourt has brought smiles on the faces of officials of the state government. The Rivers State Government acquisition of OML 11 and Kidney Island was affirmed by the apex […]

Waltersmith, UNIDO and UNECA have signed a Technical support agreement with respect to the development of an Industrial Park by Waltersmith which will attract petrochemical, pharmaceutical, research and other light manufacturing companies that feed off the hydrocarbon value chain. The industrial park is being developed with the support of the United Nation Industrial Development Organization […]

LEKOIL, the oil and gas exploration and production company with a focus on Nigeria and Africa, announces that LEKOIL Oil and Gas Investments Limited, in which the Company has a 90 per cent. economic interest, has fully repaid the Prepayment Facility, as announced on 2 July 2020, it entered into with Shell Western Supply and […]

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 […]