Upstream

International oil companies are leaving Nigeria and shifting their portfolios to where they can add value to the journey towards carbon net-zero commitment, the group managing director, Nigerian National Petroleum Company (NNPC) Limited, Mele Kyari, has said. Mr Kyari said this in a speech at the 2022 Nigerian International Energy Summit (NIES2022) in Abuja on Monday. The NNPC group managing ...

Sale supports company’s disciplined investment strategy, Nigeria’s efforts to enhance industry participationIncludes shallow-water affiliate; ExxonMobil to retain deepwater assetsTransaction to close later this year pending regulatory approvals ExxonMobil has reached an agreement to sell its equity interest in Mobil Producing Nigeria Unlimited to Seplat Energy, a Nigerian independent oil and gas company, through its wholly-owned subsidiary Seplat Energy Offshore Limited. ...

Oil giant Shell sale of a multibillion dollar stake in a joint venture that operates oil fields in Nigeria has attracted bids from four local oil and gas companies. Seplat Energy Plc, Sahara Group Ltd, Heirs Oil and Gas Ltd and ND Western Ltd submitted the non-binding offers in January. Shell’s 30% operating interest could fetch as much as $4 ...

Nigeria’s anticipation to further grow its crude production is being stalled by delay in realizing development of Bonga field by Shell. Shell has delayed expansion work at the offshore Bonga field by another two years, dealing a major blow to Nigeria’s quest to grow its crude production after a series of technical and operational setbacks, sources close to the project ...

The Nigerian Upstream Petroleum Regulatory Commission (NUPRC) wishes to announce that an explosion leading to a major fire on an evacuation vessel at Ukpokiti field (OML 108) in Delta State was reported by our operations team on Wednesday 2nd February 2022. The Commission in line with its statutory regulatory oversight of Upstream Petroleum operations in the Nigerian oil and gas ...

Uncontrollable large volume of crude oil spill imminent as Floating Production, Storage and Offloading (FPSO) vessel explodes in Delta State coastal area. Following this is palpable tension as fear has gripped residents and oil workers in the Escravos area of Warri South-West Local Government Area of Delta State on Wednesday. It was gathered that vessel known as Trinity Spirit FPSO ...

………Pledges Support for Frontier Exploration……. The Senate Committee on Petroleum Resources (Upstream) has commended the Nigerian National Petroleum Company Limited (NNPC Ltd) for repositioning the Nigerian oil and gas industry into a competitive business environment. The Chairman of the Committee, Senator Bassey Albert Akpan, gave the commendation when he led members of the Committee on an oversight visit to the ...

A total of 128 awardees that emerged as successful bidders in the 2020 Marginal Field Bid Round have made complete and part payments for signature bonuses in the oil fields, the Federal Government said on Thursday. It also disclosed that 33 awardees did not make payments during the 45 days window given to successful bidders to pay the required signature ...

…….Laments 115,000bpd loss to oil theft, technical deficiencies…….. The Nigerian Upstream Regulatory Petroleum Commission (NURPC) yesterday disclosed that the 2020 marginal field bid round which was concluded last year so far has yielded about N174.944 billion, with owners of 30 fields having partially paid and two fields stalled by court cases. The new commission further stated that 20 companies which ...

Federal High Court in Lagos has granted the Federal Government’s application barring the Ministry of Petroleum Resources, Nigerian National Petroleum Company (NNPC) and National Petroleum Investment & Management Respondent Services (NAPIMS) from allocating crude oil to Addax Oil. Justice Tijjani Ringim made the order sequel to a Motion for Mareva Injunction filed and argued by the counsel to Federal Government ...