Nigeria got no revenue from crude oil export in the month of October despite an average daily oil production of 1.417 million barrels in the month of September, latest report by the Nigeria National Petroleum Corporation (NNPC) has shown. NNPC on its report to the Federation Account allocation Committee (FAAC) released at the weekend disclosed
The company will remain as operator, and CEA will fund 33.33% of the costs for a 25% interest in the project. CEA must exercise the option by 31 March 2022 to enter into a binding farm-in agreement and a joint operating agreement and obtain the necessary funding to meet the farm-in commitment for two wells.
The cost of Premium Motor Spirit, also known as petrol, imported into Nigeria from January to September this year surged by 55.56 per cent to N2.52tn from the N1.62tn spent in the same period of 2020. The development came amid the Federal Government’s plan to remove subsidy from petrol by February next year. Already, oil
Nigeria’s marine and services group, UTM Offshore Limited, and the African Export-Import Bank (Afreximbank) on Tuesday in Abuja, signed a Memorandum of Understanding (MoU) to raise $5 billion for the development of Nigeria’s first floating liquefied natural gas (FLNG) project. The deal that is in two parts would see the continental bank raising $2 billion
According to Savannah Energy’s CEO, there is a strong potential to significantly increase upstream production and midstream throughput volumes from current levels. (Image source: Adobe Stock) This follows Savannah’s initial announcement on 2 June 2021 regarding the proposed transaction with Exxon, and Savannah’s earlier announcements regarding the Exxon Acquisition and the PETRONAS Acquisition. Completion of both the Exxon acquisition and the PETRONAS
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