Court of Appeal upholds setting aside $2.5b judgment awarded to Shell, Esso against NNPC
A Nigerian Court of Appeal sitting at Abuja has upheld the setting aside of part of the $2.5 Billion arbitral…
France reveals plan to invest 1billion in Nigerias oil and gas industry
The French government through its Ambassador to Nigeria has revealed it plans to invest about €1billion (One Billion Euros) in…
Pan Ocean set to hit 200scf/d as well as reduce gas flaring
Pan Ocean Oil Corporation Limited; operator of OML98 has revealed that it is close to hitting 200mscfd from its current…
FG approves $186.6m Afam power plant project
The Ministry of Power Works and Housing has revealed that the Afam Power Plant project which is valued at the…
Three bills relating to PIB scale second reading at the House of Representatives
The House of Representatives has confirmed that three bills relating to the Petroleum Industry; Bill for an Act to provide…
WAV declares that the court appointment of provisional liquidator for STG has no effect on it operations
Following the court appointment of provisional liquidator for Sea Trucks Group (STG), the management of West African Ventures (WAV) has…
Sirius Petroleum in negotiation with British Petroleum over Ororo field financing
Sirius Petroleum has confirmed that it is in negotiation with British Petroleum in respect of an off-take and pre-payment facility…
NERC seeks to dissolve the boards of Discos
Nigerian Electricity Regulatory Commission (NERC) recently disclosed that it has commenced regulatory proceedings in respect of the operations of Distribution…
Eland Oil & Gas JV company signs rig contract with OES Energy Services.
Eland Oil & Gas revealed that it’s Joints Ventures Company; Elcrest Exploration and Production recently signed a rig contracts with…
House of Representatives, Senate disagree over the amended NLNG Act.
There seems to be an ongoing dispute between the House of Representatives and the Senate in respect of the bill…
Brittania-U resumes action against Chevron over failed OML bid.
A court of Appeal in Lagos is set to resume proceeding in respect of the ongoing dispute between Brittania-U, an…
FG commences the of revamping and utilization of Enugu coal deposit.
As part of it’s efforts towards reviving the power sector in Nigeria, the Federal Government has commenced steps to revamp…
NERC sanctions DISCOs; orders consumers without prepaid meters to stop paying bills
In light of the Distribution Companies’ (DISCOs) failure to provide all electricity consumers with prepaid meters as directed by Nigerian…
Nigeria signs off bilateral agreements with Morocco
Nigeria and Morocco have further strengthened their business ties by signing off on two other bilateral agreements. The first agreement…
Nigerian Energy Group Taleveras and ExxonMobil win Oil Blocks in Equatorial Guinea.
Equatorial Guinea’s Minister of Mines and Hydrocarbons recently revealed that respective oil blocks have been awarded to Nigerian Energy Group…
Forcados finally commences crude exports.
Following the completion of the damaged Trans-Forcardos Pipeline, the Shell Petroleum Development Company of Nigeria Ltd (SPDC) has lifted the…
The Ministry of Mines and Steel Development commences negotiation with Sovereign Wealth Trust
The Minister of Mines and Steel Development has admonished the Solid Mineral Development Fund (SMDF) to fast-track the approval of…
Nigeria plans to issues its delayed “green” bond
The Federal Government is currently planning to issue its long awaited green bond which is expected to raise about NGN20bn…
Federal Government awaits approval of the National Assembly to borrow US$1.3bn
The Federal Government is currently awaiting approval of the National Assembly to borrow up to US$1.3bn from international lenders to…
World Bank approves US$500mn loan for social investment programme
The World Bank has approved a US$500mn loan for the government of Nigeria for social investment programme. The programme includes…
Zenith Bank sold bond in the international markets in mid-May.
Zenith bank has sold bonds worth US$500mn in the international market.The notes maturing 2022 were sold at par to yield…
Central Bank of Nigeria retained monetary policy rate at 14% in May, the tenth consecutive month it left the MPR unchanged.
As part of the efforts of the Central Bank of Nigeria (CBN) in tightening the foreign exchange market, the CBN…
Nigerias economy contracted for a fifth consecutive quarter in the three months through March as oil output declined.
According to Bloomberg, the Gross Domestic Product of Nigeria shrank by 0.5% in the first quarter from the previous year,…
Senate Committee begins Processes to stop Gas Flaring
The Senate has commenced legislative processes targeted at prohibiting gas flaring through the imposition of stiffer penalties on erring oil…
Senate passes the Nigeria’s Petroleum Industry Governance Bill
The Nigerian oil and gas industry witnessed another paradigm shift as the long awaited Nigerias Petroleum Industry Governance Bill (PIGB)…
House of Representatives attempt to amend NLNG Act without shareholders may result to illegality
Further to the recent passage of the Nigeria LNG Limited (NLNG) (Fiscal Incentives, Guarantees, and Assurances) Amendment Act by the…
Forcados Terminal Set to Make At Least Two Shipments in May
Further to the repairs of the Trans Forcados pipeline following damage by the Niger Delta militants, it has been revealed…
Negotiation between Exxon and Fossil Fuel Labour Union breaks down
The ongoing negotiations between Exxon officials in Nigeria and the oil sectors labor union in respect of the unlawful termination…
Eni undertakes to construct oil refinery in Nigeria
Eni has reached an agreement with the Federal Government of Nigeria for the construction of an oil refinery facility in…
Shell embarks on testing of Trans-Forcados pipeline
Following several months of repairs of the Trans-Forcados crude export pipeline caused by the Niger Deltamilitants, Shell Petroleum Development Company…
