Nigeria-focused Oil Company Lekoil a Nigerian indigenous exploration and production company has of recent announced reduction of its workforce numbers which is believed to be unconnected with the prevalence of global covid 19 pandemic but as part of the “immediate and accelerated” implementation of the company’s general and administrative (“G&A”) cost reduction measures. “These measures […]

The U.S. Trade and Development Agency has awarded a grant to NNPC Gas and Power Investment Company LTD (GPIC) to provide the technical, economic and financial analysis necessary for the development of a 1,350-megawatt combined cycle, natural gas-fired power plant in Abuja. The project will utilize indigenous gas resources to address the growing demand for […]

The Department of Petroleum Resources (DPR) has officially handed over the Oil Mining Licence (OML) 98 to the Nigerian Petroleum Development Company, a subsidiary of the Nigerian National Petroleum Corporation (NNPC). Speaking at the hand-over in Abuja, Mr Sarki Auwalu, DRP Director and Chief Executive Officer, said that the licence was revoked from its operators […]

The Department of Petroleum Resources (DPR) Nigeria Government petroleum regulatory body has finally announced its long awaited licensing round for marginal oilfields first time in nearly 20 years. The announcement came amidst the legal battles between the Nigeria government and some marginal oilfield operators sighting the recent court rulings that barred some of the fields […]

The UK court has finally jettisoned the $1.1 billion claim brought before court by Nigeria against Royal Dutch Shell and Eni as related to a dispute over the OPL 245 oilfield. The presiding judge made the outright dismissal recently over the allegation brought before the honorable court   by Nigeria government that payments made by the […]

OILSERV a leading indigenous EPC Nigeria company with global presence has finally commenced the nation’s Ajaokuta–Kaduna–Kano (AKK) Gas Pipeline project. The company has been awarded the engineering, procurement, construction, installation, testing, and commissioning of the first segment of the 614 km x 40-Inch Gas pipeline, which expanses from Ajaokuta to a mid-way between Abuja and […]

Savannah Petroleum has recently disclosed that it wouldc o n s i d e r  oil and  gas acquisitions in Nigeria with utmost priority, describing a purchase completed late last year as just warm up for further expansion. Savannah Petroleum recent purchase of Seven Energy International’s Nigerian gas assets, sub-Sahara Africa’s largest gas infrastructure and […]

ADM Energy, an exploration and production company has concluded in increasing its investment interest in the Aje oil field offshore Nigeria. The company disclosed that it had reached an agreement with EER, a partner in the block to acquire a participating interest of 2.25% from EER in oil mining lease no. 113, in which it […]

quatorial Guinea’s Minister of EMines and Hydrocarbons, H.E. Gabriel Mbaga Obiang Lima, has announced that U.S oil major ExxonMobil plans to sell its oil assets in Equatorial Guinea, including its operating stake in the Zafiro oilfield, which currently produces 90,000 barrels a day. The oil company is planning to sell the stake in Equatorial Guinea […]