Nigerian National Petroleum Corp said Thursday it had agreed new funding arrangements with four foreign partners to develop new oil fields in the Niger Delta that will substantially increase Nigerian Continue Reading
Shell Petroleum Development Company has disclosed that its operation is still threatened by insecurity in the Niger Delta. The company indicated in its latest report that crude oil theft, sabotage Continue Reading
International Oil Companies (IOCs) and their indigenous counterparts may soon be forced to halt operation, as the cost of producing a barrel of crude oil remains high. The Minister of Continue Reading
After trading at over U.S.$100 per barrel for some years, the price of oil began to tomble down around July, 2014, falling to below U.S.$30 per barrel. The collapse of Continue Reading
More than 50 people were killed in a Boko Haram ambush on an oil exploration team in northeast Nigeria earlier this week, multiple sources told AFP news agency on Thursday, Continue Reading
Nigerian media reported Thursday the federal government opted to halt crude oil exploration in part of the Niger Delta because of heightened security concerns. Militants struck a crude oil pipeline Continue Reading
Nigeria is now saying that “era of oil booms” may be over—for good. According to its national petroleum policy approved this week by the federal executive council, the country plans Continue Reading
Nigerian crude oil production was lowered following a militant tank on an oil pipeline, the state oil company said. File photo by vanhurck/Shutterstock July 25 (UPI) — A militant attack Continue Reading
The continual disruption blighting the impoverished delta region threatens plans to exceed 2 million barrels a day, according to Wood Mackenzie. (Bloomberg) — The Agbada 2 flow station should have Continue Reading
The U.S. Justice Department on Friday filed a civil complaint seeking to recover about $144 million in assets obtained through paying bribes to a former Nigerian oil minister, the department Continue Reading
