Tag Archives: Nigeria

Nigeria is pumping more crude and drilling harder than it has in years, thanks to reforms under President Bola Tinubu that are finally coaxing cash back into the upstream. Daily output has climbed to between 1.7 and 1.83 million barrels, while active rigs surged from 31 in January to 50 …

TotalEnergies is taking a bold step in supporting Nigeria’s energy goals with the Ubeta gas field project in the OML 58 onshore license in Nigeria, now in its execution phase. The project is set to deliver a plateau of around 70,000 barrels of oil equivalent per day including condensates, a …

As Donald Trump prepares to become America’s 47th president on January 20, the potential resurgence of United States’ shale oil industry will reopen the 2014 scars for Nigeria and some of the biggest oil producers in the world as they seek to support prices and reduce oversupply. The resurging shale …

Equinor has exited the upstream business in Nigeria and Azerbaijan after completing oil and gas asset sales of $2 billion, the Norwegian energy major said on Monday. Equinor will receive $745 million for its portfolio in Azerbaijan and up to $1.2 billion for the sale of its Nigerian assets, said …

Nigeria’s government is set to approve within days the proposed $1.3-billion sale of ExxonMobil’s shallow water assets to local firm Seplat, Nigerian President Bola Tinubu said on Tuesday. The U.S. supermajor announced two years ago its intention to sell its shallow water business in Nigeria to Seplat, the biggest Nigerian …

Nigeria is losing $1,000 on every barrel of crude oil it exports, due to a lack of the added value from refining, Nigerian media quoted energy policy expert Henry Adigun as saying at a conference. This loss is no longer sustainable, Adigun said. The Nigerian federal government is supporting local …

Iran exported non-oil commodities valued at $46.5 million to Nigeria during the first seven months of the current Iranian calendar year (March 21-October 22), the spokesman of Trade Development Committee of Iran’s House of Industry, Mining and Trade announced. Ruhollah Latifi said that among the African trade partners of Iran …

Nigeria expects to see “significant investment flow immediately” from Saudi Arabia after the top crude producer in the Middle East and Africa’s largest oil producer signed investment and cooperation agreements in the energy sector at a summit in Riyadh last week. Nigeria has been looking to attract foreign investment in …

Exxon will boost crude oil production in Nigeria by an additional 40,000 barrels per day, Nigerian President Bola Tinubu’s spokesman Ajuri Ngelale said in a statement on Tuesday. Nigeria has long had aspirations for increasing its crude oil production, most recently promising to boost production to 1.7 million barrels per …

The output from other countries that had witnessed downward production are squaring up which may likely lead to output cut by the Organisation of Petroleum Exporting Countries (OPEC). Similarly, the improved security situation in the oil rich Niger Delta area is helping Nigeria to inch up oil production activities. The …