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

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. Advertisements

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

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.

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

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.

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Africa Oil & Gas: Privatise Nigeria’s oil industry? Easier said than done

Africa Oil & Gas: Privatise Nigeria’s oil industry? Easier said than done

A leading contender in Nigeria’s presidential election next month has pledged to privatise the country’s oil industry, but that’s a promise that might prove hard to keep, some observers say quoted by AFP. Atiku Abubakar, the main opposition party contender, has vowed to break up the Nigerian National Petroleum Company (NNPC), which he called a “mafia organisation”. The NNPC and other state-run organisations have been widely criticised as becoming slush funds for successive governments, particularly…

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Africa Oil & Gas: Nigeria’s NNPC Could Ink Oil Swap Deals With Two More Supermajors

Africa Oil & Gas: Nigeria’s NNPC Could Ink Oil Swap Deals With Two More Supermajors

Nigeria’s state oil company is mulling over the signing of two more oil swap deals, with Exxon and Shell, after last week it sealed an oil-for-products deal with BP, Reuters reports, quoting NNPC’s chief operating officer for upstream, Bello Rabiu.

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