Tag
OIL EXPLORATION
Over 30 civil society groups, led by the Movement for the Survival of the Ogoni People (MOSOP) staged a peaceful protest on Monday in parts of Ogoniland in Rivers State over the Federal Government’s decision to resume oil exploration in the region.
Chevron Corp. Plans to increase its exploration holdings in African oil producers such as Nigeria and Angola, where it anticipates the potential for a production rebound despite years of decline.
The Federal Government is considering revoking oil exploration leases that were granted to companies by the NUPRC.
Governors of states in the Southern part of Nigeria have rejected the proposed 3% and supports the 5% share of the oil revenue to the host community.
The FG is expected to earn up to $600 million from payments by bid winners of marginal oil fields.
The NNPC has plans to extend the ongoing Ajaokuta-Kaduna-Kano gas pipeline system across the Sahara to Algeria in North Africa.
The Nigerian government has been urged to issue licences for exploration. The suggestion was made by the Chief Executive Officer of Total, Patrick Pouyanne, who also disclosed there are plans to expand Nigerian Liquefied Natural Gas company.