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Nigerian marginal fields bid reaches advanced stage

The 161 companies selected as winners of interests in the 57 marginal fields on offer in the country’s second marginal field bid round have been issued the third letter in the series of correspondences the Department of Petroleum Resources (DPR) has apparently been sending to them.

Nigeria to sell crude in Naira to Dangote Refinery

As part of measures adopted to strengthen the currency and by extension the nation’s economy, the Federal Government has concluded plans to sell crude oil to the $15 billion Dangote Refinery in Naira. Inspecting the ongoing construction of the Dangote Refinery, Petrochemicals Complex Fertiliser Plant, and Subsea Gas Pipeline project at Ibeju…

LEKOIL announces cost and revenue sharing for assets

LEKOIL, has announced that Mayfair Assets and Trusts has received a letter from Optimum Petroleum Development Company, the Operator of the OPL 310 Licence, proposing to terminate the Cost and Revenue Sharing Agreement (‘CRSA’) executed for OPL 310. The oil and gas exploration and production company with a focus on Nigeria and West Africa,…

DPR seeks investors for modular refineries

The licensing of more modular refineries to come on stream would put an end to the problem of product scarcity in the country, the Department of Petroleum Resources has said, as it plans to license more of such refineries.

Ex-minister calls for oil blocs allocation review

The National Assembly has been called to properly address and review the issue of oil blocs allocation in the new Petroleum Industry Bill. A former Minister of Lands, Housing and Urban Development, Chief Nduese Essien, made the call recently saying that the bill should also clearly define the status of the host community adding that failure to…
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