OPEC is trying to persuade Libya and Nigeria to join cuts if the cartel agrees to reduce production, delegates told S&P Global Platts, while the OPEC and non-OPEC leaders of the deal, Saudi Arabia and Russia, are still discussing how much to cut and how to share these cuts out.
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A new report finds that Nigeria missed out on nearly $6 billion in projected revenues because of the odd structure of a 2011 oil deal it made with Royal Dutch Shell (NYSE: RDS.A) and Eni (NYSE: E).
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Nigeria LNG has reportedly put up a single cargo of liquefied natural gas loading in December for sale.
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Africa-focused oil and gas company Lekoil has requested relief from enforcement of expiration of the exploration license for lease OPL 310 from the Nigerian Federal Ministry of Petroleum Resources.
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Shelf Drilling, one of the world’s largest jack-up rig owners, has secured a contract extension for its Trident XIV jack-up rig.
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Nigeria will raise its crude oil production to 1.8 million bpd in 2019 from around 1.6 million bpd currently, the head of the Nigerian National Petroleum Corporation (NNPC) told Reuters on Tuesday.
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Eland Oil & Gas has announced, through its joint-venture subsidiary Elcrest Exploration and Production Nigeria, that the Honourable Minister of Petroleum Resources has consented to Elcrest’s renewal of its equity participation in Oil Mining Lease 40 (‘OML 40’), for a further 20 years, taking effect on 22 October 2018.
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Although, there are about 645 million people without electricity in Africa, with about 90 million Nigerians affected, the Minister of Power, Works and Housing, Babatunde Fashola, has said the Federal Government is doing everything possible to reverse the trend in Nigeria.
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Neconde Energy Limited and partner on OML 42, NPDC, commenced production and delivery of gas to the domestic market through the Nigeria Gas Marketing Company.
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(Bloomberg) — The revival of Nigeria’s state-owned refineries will happen a year later than expected after financing talks dragged on, according to the nation’s oil minister.
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