Nigeria

Nigeria: Cabinet to sell stakes in joint oil assets to boost coffers

Posted on March 22, 2019March 22, 2019 by Mozambique Resources Post

Nigeria: Cabinet to sell stakes in joint oil assets to boost coffers

Nigeria plans to cut its stake in joint oil ventures with multinational oil companies to 40 percent this year, its budget minister said, as the country seeks to boost revenue to grow an economy recovering from recession.

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Nigeria: Country Gets Highest EITI Rating

Posted on March 19, 2019March 19, 2019 by Mozambique Resources Post

Nigeria: Country Gets Highest EITI Rating

The International Board of Extractive Industry Transparency Initiative (EITI) revealed that Nigeria has attained the highest rating in implementation of its standards by member countries. Waziri Adio, the Executive Secretary Nigeria Extractive Industry Transparency Initiative (NEITI) said that the West African country was among the countries that attained “Satisfactory Progress”, the highest rating of the board.

Nigeria: Imports to USA Fall

Posted on March 19, 2019March 19, 2019 by Mozambique Resources Post

Nigeria: Imports to USA Fall

Imports of Nigerian crude by the United States over 2018 fell by 43%, according to data released by the EIA. The US imported only 64.06 million barrels of crude from the West African country in 2018, compared to 112.92 million barrels in 2017.

Nigeria: “Over 41bn barrels crude, 319tcf gas untapped” – NNPC boss

Posted on March 18, 2019March 18, 2019 by Mozambique Resources Post

Nigeria: “Over 41bn barrels crude, 319tcf gas untapped” – NNPC boss

The Group Managing Director of the Nigerian National Petroleum Corporation (NNPC), Dr. Maikanti Baru, has stated that more than 41billion barrels of crude oil and 319trillion cubic feet of gas are yet to be discovered in Sub-Saharan Africa.

Africa: Nigeria, Sao Tome & Principe and Total sign oil Production Sharing Contract

Posted on March 14, 2019March 14, 2019 by Mozambique Resources Post

Africa: Nigeria, Sao Tome & Principe and Total sign oil Production Sharing Contract

Nigeria, Sao Tome and Principe and Total SA signed an oil production sharing contract on Thursday, according to a joint statement.

Nigeria: Country exceeds oil production cuts for February

Posted on March 12, 2019March 12, 2019 by Mozambique Resources Post

Nigeria: Country exceeds oil production cuts for February

Increased production by Nigeria and Iraq above the agreed quota by members of the Organisation of the Petroleum Exporting Countries (OPEC), in February, saw compliance level hitting 79 per cent last month, three per cent above January’s 76 per cent.

Africa Oil & Gas: Nigeria incurs huge losses over stalled $30bn LNG projects

Posted on March 1, 2019March 1, 2019 by Mozambique Resources Post

Africa Oil & Gas: Nigeria incurs huge losses over stalled $30bn LNG projects

More than two years after the Nigerian National Petroleum Corporation reiterated its commitment to two Liquefied Natural Gas projects in the country, there is still uncertainty over whether the multibillion-dollar projects will come on stream.

Africa Oil & Gas: Dutch prosecutors target Shell over Nigeria oil deal

Posted on March 1, 2019March 1, 2019 by Mozambique Resources Post

Africa Oil & Gas: Dutch prosecutors target Shell over Nigeria oil deal

Dutch prosecutors are preparing criminal charges against Royal Dutch Shell over its $1.3-billion acquisition of Nigerian offshore oilfield OPL 245 in 2011.

Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Posted on February 22, 2019February 22, 2019 by Mozambique Resources Post

Africa Oil & Gas: Nigeria hits oil majors with billions in back taxes

Nigeria has ordered foreign oil and gas companies to pay nearly $20-billion in taxes it says are owed to local states, industry and government sources said, in a move that could deter investment in Africa’s largest economy.

Africa Oil & Gas: Eni and Shell face new Nigeria action

Posted on February 22, 2019February 22, 2019 by Mozambique Resources Post

Africa Oil & Gas: Eni and Shell face new Nigeria action

The two firms have received harsh criticism from an Italian judge and now await UK court proceedings.

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