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OIL AND GAS NEWS
New and analysis from Nigeria's oil and gas sector.
The Federal Government is requesting documents from ten banks, in a bid to get information that will help overturn a $9.6 billion arbitration award relating to a oil contract which the country feels is fraudulent.
Nigeria's income from oil and gas is projected to fall by between 50% and 85% in 2020, reaching the lowest levels in more than two decades.
First Bank of Nigeria Limited was recently presented with the Oil and Gas Banker of Year 2019 award at the Patrons' Dinner and Industry Awards.
The Russian Federation has disclosed plans to enhance bilateral co-operation between with Nigeria to develop the latter's energy sector.
The NNPC has revealed that it's set to commence operations at the Chad Basin, Gongola and Benue Trough with the support of the military.
Nigeria's oil and gas sector is expected to attract $48.4 billion (about N17.29 trillion) out of the industry's $194 billion (about N69.84 trillion) capital investment flow into Africa by 2025. This is according to @NNPCgroup.
The Nigerian National Petroleum Corporation (NNPC) has reported a total export sale of crude oil and gas of $490.03 million for February 2019.
By this new policy by @AsoRock, LPG consumers are not longer allowed to own gas cylinder.
The Managing Director of the Nigerian Petroleum Development Company, Yusuf Matashi, has been sacked and replaced with Usman Yusuf, the former Assistant to the GMD.
The Shell Petroleum Development Company (SPDC) has revealed plans to invest about $15 billion across 24 oil and gas projects in Nigeria
The Nigerian oil and gas sector accounted for 93.8% of the total export revenue in Q4 2018, according to the CBN's Balance of Payment (BOP) brief.
The Federal Government of Nigeria shut down two Abuja-based filling stations after they were allegedly found guilty of overbilling their customers.