Nov 29 (Reuters) – Nigeria’s Seplat Energy along with a partner is in talks to buy ExxonMobil’s  shallow-water oilfields in the African nation, the company said on Monday, cautioning there was no certainty about the outcome. In recent years, Exxon has been exiting investments worth billions of dollars in oil and gas fields in Europe, Asia and

Russian investors have Announced Plans to Invest in Nigeria’s Agriculture and Oil and Gas sectors in the Coming Years. According to the Nigerian ambassador to Russia, Prof Abdullahi Shehu, these investors are also seeking to support Nigeria in addressing its high level of insecurity with massive investments in security equipment. Shehu stated that this at

Last week, the US made an important announcement. It will release oil from its strategic petroleum reserve (SPR). The US will dispatch 50 million barrels (mb) and this will be augmented by the SPR release from other countries such as China, Japan, UK, South Korea, and India. The world’s top oil consuming countries have banded

On November 5, Aiteo Eastern Exploration Company (AEEPCO) reported a major oil leak from its Oil Mining Lease (OML) 29, the Santa Barbara South field, in Nembe, Bayelsa State. The wellhead in the Santa Barbara South field, jointly owned by AEEPCO and the Nigerian National Petroleum Corporation (NNPC), blew up, spewing oil into the water

NINETEEN days after the spill at the Santa Barbara Well 1 in Oil Mining Lease, OML 29 operated by Aiteo Eastern Exploration and Production Company, AEEPCO, in the Nembe creek, Bayelsa State, the well head is still spewing crude into the environment, polluting farmhands and the creeks. It was learned that the pressure from the