Category: West Africa

Some drivers say they spend nights at filling stations to get petrol. Fuel scarcity worsened across Nigeria weekend despite repeated assurances from the government that the crisis would soon be Continue Reading

 The ongoing shortage of Petroleum Motor Spirit, PMS, worsened in Lagos, Abuja, Ibadan, Enugu and other major cities across the country, yesterday, with motorists spending hours on queues at filling Continue Reading

ExxonMobil has reached an agreement to sell its equity interest in its subsidiary Mobil Producing Nigeria Unlimited to Seplat Energy. U.S. supermajor ExxonMobil has reached an agreement to sell its Continue Reading

ExxonMobil logo. The multinational holds 40 per cent in the partnership through MPNU and NNPC the remainder. Seplat Energy has entered into a contract with a Nigerian unit of Texas-based Continue Reading

Nigeria suffered a drop of $3.7 billion in taxes and royalties from Shell Companies in the country as the oil major paid just $900 million in 2020, down from $4.6 Continue Reading

A London court will on Wednesday begin to hear a lawsuit launched by Nigeria against U.S. bank JP Morgan Chase, claiming more than $1.7 billion for its role in a Continue Reading

Oil rigs The International Monetary Fund (IMF) has once more advised Nigeria’s federal government to increase Value Added Tax (VAT), while also offering other fiscal measures that the country could Continue Reading

Fitch Solutions, an affiliate of global rating agency, Fitch, has predicted that Nigeria’s weak performance in the oil and gas sector may continue to slow down the country’s economy in Continue Reading