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…
Giant multinational companies; GBfoods enters into Joint Venture with Helios Investment Partners for the acquisition of Nigerian food brands
The general public has been notified of the Joint Venture (JV) between GBfoods and Helios Investment Partners (referred to as…
NNPC collaborates with Chevron and Total for the construction of power plants
The Nigeria National Petroleum Corporation (NNPC) has revealed its plans to build power plants at Obite and Agura in conjunction…
Lagos State Government in dialogue with FG for approval to take all the gas produced from Aje
The Lagos State government is presently in negotiations with the Federal Government (FG) through the Department of Petroleum Resources (DPR)…
DPR reports increase in the level of compliance oil producing firms compliance with Domestic Gas Supply Obligation
The Department of Petroleum Resources (DPR)has reported that the gas sector has so far witnessed a 40% increase in respect…
FG and IOCs at loggerheads over cost expended on crude overlift
The Minister of State for Petroleum Resources; Dr. Ibe Kachikwu has revealed that the Federal Government of Nigeria (FG)a nd…
Nigeria records near zero pipeline vandalism in the past three months
The Federal Government of Nigeria recently gave a report of the stability recorded in the Niger Delta region of the…
Local Nigerian Community sues Eni for damages arising from the explosion of its oil pipelines
A community from Ikebiri, Niger Delta area of Nigeria has instituted an action against Eni seeking the sum of euro;2,000,000…
NNPC reveals investment opportunities in the Oil & Gas Sector
The Nigerian National Petroleum Corporation has revealed investment opportunities that will be forthcoming in the Nigeria oil and gas sector.…
FG reveals that Nigeria retains $5bn of the sum spent annually in the Oil and Gas Sector
Further to the continuous implementation of the Nigerian Oil and Gas Industry Content Development (NOGICD) Act, 2010 the Nigerian Content…
New York Court grants Stay of proceedings in suit filed by Shell & Ors against NNPC pending conclusion of similar litigation suits in Nigeria
In view of the pending action instituted by Shell Nigeria Exploration and Production Co (SNEPCo), Esso Exploration and Production Nigeria…
Chevron enters into Agreement with Frames Group BV, Alphen aan den Rijn, the Netherlands for Provision of Natural Gas Dehydration Unit for Gas gathering
Chevron Nigeria Limited (CNL) recently entered into an agreement with Frames Group BV, Alphen aan den Rijn of the Netherlands…
Eland presents its quarterly updates on its operations
Eland Oil and Gas (the Company) stated that following the recommencement of production in January 2017, OML 40 has so…
BW Offshore signs interim extension agreement with Agip
BW Offshore recently signed an interim extension agreement in respect of Floating Production Storage and Offloading Vessel Abo with Nigerian…
FG, Shell and NAE to sign FID $13.5 billion Zabazaba deepwater project
The Federal Government of Nigeria (FG), Shell and Nigerian Agip Exploration Limited (NAE) are set to sign the Final Investment…
FG in conjunction with CBN and World Bank pays guarantees to gas supplier firm
As part of the Federal Governments (FG) efforts towards ensuring gas supply to power generating companies, the FGN has provided…
FG in negotiation with World Bank for $150 million loan to commence Mindiver Project
The Federal Government of Nigeria (FG) through the Ministry of Mines and Steel Development is currently in negotiation with the…
NPDC transfers OML 30 to new operator; Heritage Oil Limited
The Nigerian Petroleum Development Company (NPDC) has successfully handed over the Oil Mining Lease (OML) 30 to Heritage Oil. Consequently,…
NLNG makes decision to re-market expiring Sales and Purchase Agreements
The Nigeria Liquefied Natural Gas Limited (NLNG) recently announced its decision to re-market the LNG volumes for its three train…
FG set to disburse the first installment of the $5.1 billion Joint Venture (JV) cash calls to IOCs
Further to the agreement reached between the International Oil Companies(IOCs) operating in Nigeria and theFederal Government of Nigeria(FGN)in December, 2016…
LEKOIL and GE Oil & Gas execute MOU for the development of Ogo Field
Lekoil Limited (Lekoil) recently signed a Memorandum of Understanding (MOU)with GE Oil & Gas (GE) for the development of the…
