The Federal Government, Nigerian Agip Exploration Limited (NAE) and Shell Petroleum Exploration and Production Company (SNEPCo) have completed the technical and commercial evaluation of bids for the main packages in the development of the $13.5 billion Zabazaba deepwater oil field in Oil Prospecting Lease (OPL) 245 within 14 months.
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FOR NIGERIA, NO MORE FUTURE IN OIL – PUNCH EDITORIAL
Ever since the emergence of oil and gas as the dominant feature of the Nigerian economy, starting from the 1970s, successive administrations in the country have only been paying lip service to the need for economic diversification.
Continue reading »EXXONMOBIL CRISIS DEEPENS AS OIL WORKERS THREATEN SHELL, CHEVRON, TOTAL
The picketing of Mobil Producing Unlimited, an affiliate of ExxonMobil, continued on Thursday with oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) threatening to escalate the crisis to Shell, Chevron and Total by the weekend.
Continue reading »OIL WORKERS THREATEN TO SHUT DOWN EXXONMOBIL OPERATIONS
Oil workers under the aegis of the Petroleum and Natural Gas Senior Staff Association of Nigeria (PENGASSAN) has threatened to shut down the operations of Mobil Producing Nigeria Unlimited, an affiliate of ExxonMobil until the sacked workers are recalled.
Continue reading »NIGERIAN MARITIME INDUSTRY HAS BEEN A WASTED OPPORTUNITY – LADOL MD
The Managing Director of the Lagos Deep Offshore Logistics, Dr. Amy Jadesimi, speaks about the potential of the maritime sector and LADOL’S $500m investment in a vessel-fabricating facility expected to generate 50,000 jobs and attract $10bn private sector investment: How has it been running LADOL for eight years? As the Managing Director of LADOL, I have a very broad charge. […]
Continue reading »NIGERIA LOSES AFRICA’S TOP OIL PRODUCER POSITION TO ANGOLA
Sheds N83 billion in one month Nigeria’s crude oil production fell by 156,900 barrels per day (bpd) to 1.269 million bpd in March, from 1.426mbpd recorded in February. Consequently, the country lost its status as Africa’s top oil producer to Angola, according to latest data from the Organisation of Petroleum Exporting Countries (OPEC). With the cumulative loss of 4.8 million […]
Continue reading »KACHIKWU CONTINUES OIL INVESTMENT OVERTURES, WOOS EXXONMOBIL ON LOCAL REFINING
The Minister of State for Petroleum Resources, Dr. Ibe Kachikwu, has continued his drive to have International Oil Companies (IOCs) operating in Nigeria deepen their investments in the country with a visit to United States oil firm, ExxonMobil. The minister according to a statement from the ministry yesterday in Abuja, met with top executives of ExxonMobil at its headquarters in […]
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