The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) says 17 marginal oil fields are currently producing out of 30 fields awarded since its inception in 1999.
Shell Plc, ExxonMobil Corporation, Chevron Corporation, and Equinor ASA have said they will withdraw their lawsuits of about $3 billion, against the Nigerian National Petroleum Company (NNPC) Limited.
Nigeria’s President, Muhammadu Buhari, has approved the Seplat Energy Offshore Limited acquisition of Exxon Mobil shares in the United States of America.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has expressed concerns about the country’s production capacity, citing cases of deliberate shut of oil wells and pipelines by operators who are trying to deal with theft.
A well at a site operated by local Nigerian firm Eroton Exploration and Production Limited has been spilling oil and gas into the Niger Delta for more than a week, the company and an agency responsible for detecting oil spills said.
Although crude oil prices have for months stayed above $100 in the international market, a development rarely seen, it has not had any positive impact on the Nigerian economy