The final investment decision (FID) on the planned $25 billion Nigeria-Morocco pipeline linking North and West Africa could be reached by December, a senior Nigerian oil official said.
Oil and energy officials from Nigeria and Morocco met to elevate discussions toward a final investment decision for a planned transborder gas pipeline linking North and West Africa.
This was made known on Monday via the commission’s X platform, explaining that the decision was made to improve dependability and sustainability to meet the country’s fuel supply and energy security requirements.
(MENAFN) A noteworthy transformation has quietly unfolded in Nigeria’s oil industry over the past year, marked by the exodus of international oil companies from various parts of their operations within the country. The latest development came at the end of last month when Norwegian oil company Equinor finalized the sale of its Nigerian entity to the relatively unknown local firm, Chabal Energy. This move signified the conclusion of Equinor’s three-decade-long association with Africa’s largest oil producer.
The federal government is planning to revoke unused oil exploration leases that companies were granted but have not been able to carry out any exploration activities on them.
The Nigerian National Petroleum Company Limited (NNPC) has begun buying petrol via cash tenders, rather than oil swaps, for the first time in nearly a decade, four sources familiar with the matter told Reuters.
The Nigerian National Petroleum Company Limited (NNPC) has said with all the ongoing upstream projects, it plans to meet its 40 billion barrels crude oil reserves target by 2030.
President Bola Ahmed Tinubu’s Policy Advisory Council has proposed the sale of the major stakes of the Nigerian National Petroleum Company Limited (NNPC) in the upstream, midstream and downstream sectors of the oil and gas industry.
An Ad-hoc Committee that was set up by the House of Representatives to investigate the alleged loss of over $2.4bn in revenue from the illegal sale of 48 million barrels of Crude Oil in 2015 including crude oil exports from 2014 to date has cleared the Nigerian National Petroleum Company Ltd of any wrongdoing.
The Nigerian National Petroleum Company Limited (NNPC) on Tuesday officially kicked off the exploratory drilling campaign in Obi, Nasarawa State, with the assurance that the effort would contribute to its aspiration to grow the country’s crude oil reserves to 50 billion barrels, from the current 37 billion barrels.