Nigeria in talks with oil majors to repay debt, invest in refineries
Nigeria is in talks with oil majors and banks to raise capital for new drilling and to repay up to $4 billion in debt that the state oil firm has Continue Reading
Nigeria Vexed by Boko Haram’s Use of Women as Suicide Bombers
Of all the mysteries surrounding Boko Haram, the marauding militant jihadist group that has terrorized Nigeria and its neighbors, the use of women and girls as suicide bombers is among Continue Reading
Nigeria: Profit Motive Driving Oil Majors to Downsize – Govt
The federal government on Thursday in Abuja accused oil majors operating in the country of not being sincere in their plans to downsize their workforce, stating that profit motive is Continue Reading
Nigeria: Crude Oil Production Up By 252,800BPD
Nigeria’s crude oil output increased by 252,800 barrels per day in January, up from the 1.697 million barrels per day it recorded in December to 1.949 million barrels per day. Continue Reading
Nigeria: Nollywood Has the Potential to Be an Alternative to Crude Oil
Actors and other stakeholders in the Nigerian movie industry, a.k.a Nollywood, said on Tuesday that the industry is a potential alternative to the ailing oil sector. In separate interviews with Continue Reading
Nigeria’s Spending Splurge With Borrowed Cash Spells Bond Pain
Record government spending — and having to borrow to fund almost half of it — spells trouble for investors in the bonds of Africa’s biggest oil producer. Nigeria’s naira debt Continue Reading
Nigeria: Export Earnings From Oil, Gas Drop By 50 Per Cent
OWING to a further slide in prices and additional shut-in of about 35,000bpd in Usan and Yoho Terminals, Nigeria’s export earnings in 2015 from the sale of crude oil declined Continue Reading
Nigeria: Oil Price Fall – Govt Appeals to Oil Companies Not to Sack Workers
Minister of Labour and Employmen Chris Ngige has called on the major oil companies planning to lay off workers due to the dwindling price of crude in the international market Continue Reading
Nigeria’s National Oil Company Posts $1.3 Billion Full-Year Loss
The state oil company in Nigeria, Africa’s biggest producer of crude, made a 267 billion naira ($1.34 billion) loss last year, dragged down by its refining division. Sales of 2 Continue Reading
Nigeria: Fuel Crisis – DPR Reads Riot Act to Oil Marketers
Obviously in response to the lingering fuel crisis and the loud complaints by suffering consumers, the management of the Department of Petroleum Resources, DPR, may have decided that enough was Continue Reading