The Nigerian government has released new rules to force oil producers to sell crude oil to local refineries, aiming to reverse the country’s reliance on imported refined petroleum products. The directive is a significant highlight of a comprehensive template guiding the implementation of Domestic Crude Oil Supply Obligation (DCSO) that aligns with the Petroleum Industry Act (PIA) of 2021.
The Federal Government of Nigeria has announced that domestic crude oil refiners and other operators in the sector are now permitted to buy crude oil in either naira or dollars.
Guido Brusco, Chief Operating Officer Natural Resources, Eni will speak at the 2024 edition of the Angola Oil & Gas (AOG) Conference & Exhibition – taking place October 2-4 in Luanda under the theme Driving Exploration and Development Towards Increased Production in Angola. Through Azule Energy – a joint venture with energy major bp – the company has an extensive footprint across the Angolan oil and gas market and is looking at accelerating investments across the value chain.
Energas West Africa CEO David Pappoe Jr. will speak at the Invest in African Energy (IAE) forum in Paris next month, spotlighting opportunities for local service companies within Africa’s growth markets.
With 4 Drill Ships Arriving Nigeria in 2025, Oil Service Firms Expect Rebound in Upstream Activities
Nigeria’s upstream oil and gas industry is set to experience a rebound in projects with potential for crude production growth and other associated values as four drill ships are expected to arrive the country by 2025, THISDAY has learnt.
Many exploration and production projects in the deepwater environment have been lined up for commencement next year, which are being promoted by the International Oil Companies (IOCs) operating in Nigeria.
Exxon Mobil Corp. has made a final investment decision (FID) for the Whiptail development offshore Guyana after receiving government and regulatory approvals.
The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) has disclosed that Nigeria’s crude oil reserves are 31.56 billion barrels, while condensate reserves are 5.94 billion barrels, totaling 37.50 billion barrels.
NUPRC’s Komolafe promises increased synergy between local refineries and producers in the second half of 2024 for a self-reliant petroleum landscape.
Since the commencement of the Petroleum Industry Act in 2021, the Nigerian oil and gas industry has undergone significant transformation. The PIA passed by the National Assembly was signed into law by former President Muhammadu Buhari. It is one of the most audacious attempts to overhaul the petroleum sector in Nigeria.
Ivory Coast’s oil minister announced the signing of production-sharing agreements with ExxonMobil for two ultra-deepwater blocks in the Gulf of Guinea.