The Nigerian National Petroleum Company Limited (NNPC Ltd.) on Friday launched ‘Crude Theft Monitoring Applications’ to curb oil theft and pipeline vandalism. The News Agency of Nigeria (NAN) reports that the launch held in Abuja on the sideline of the signing of renewed Production Sharing Contracts (PSCs) agreements between NNPC and its partners in Oil
The Nigerian National Petroleum Company Ltd. (NNPC Ltd.) and its partners in Oil Mining Leases (OMLs) on Friday signed renewed Production Sharing Contracts (PSCs) agreements to produce 10 billion barrels of oil cumulatively. The development finalised negotiations on renewed PSC, in line with the new provisions of the Petroleum Industry Act (PIA) Section 311. The
AfriTin Mining Ltd. said Monday that it has completed the construction phase one of its flagship Uis tin mine in Namibia, and that commissioning is expected to be completed by the end of September. The AIM-listed miner said the plant’s expansion is expected to increase capacity by 67% to up to 100 metric tons a
Investments will enhance old wells as well as boosting exploration activities US-based Apache Corporation is planning to ramp up investments into its concessions in Egypt’s Western Desert region, according to the Egyptian Ministry of Petroleum and Mineral Resources. The investments will aim to enhance the productivity of old wells as well as boosting exploration activities.
About 48 hours after granting ministerial consent regarding the N1.283 billion sales and purchase deal between ExxonMobil and Seplat Energy, President Muhammadu Buhari yesterday rescinded the decision. The president, who is the de facto Minister of Petroleum Resources, blamed the lack of coordination among the concerned agencies for the confusion, explaining that he had weighed
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