New Oilfield Discovered in Nigeria Chevron Nigeria Limited (CNL) has announced the discovery of a new oil field in Nigeria. The “new gold mine” estimated to hold 17,000 barrels of oil per day (bpd), is located in the shallow offshore area of the Niger Delta. The development...

Assets Conversion: NNPCL, Chevron Target 165,000 bpd by December In line with the Petroleum Industry Act (PIA) 2021 provisions of transiting assets from the Petroleum Profit Tax (PPT) into PIA terms, the NNPC Ltd. and its Joint Venture (JV) partner, Chevron Nigeria Ltd (CNL), have...

ExxonMobil, Chevron, Others To Pay NNPC N156bn For Crude Exports   Nine multinational oil companies including Chevron and ExxonMobil will pay the Nigerian National Petroleum Company Limited a total of N156.148bn this for the August 2021 domestic crude oil exports, the NNPC has said. A document obtained...

NNPC Rules Out Equity Sale, Reduces Debts In JV With Shell, Chevron, Others To $2bn       The Nigerian National Petroleum Corporation (NNPC) has backpedalled from selling its equity in oil assets because of low oil prices and general poor state of the industry. Group Managing Director, NNPC,...

Insurers’ Cover To NNPC, Chevron Rises To $157.992bn, Investigation Reveals   The total insurance cover given to some major oil multinationals in the country by local underwriters rose to $157.99bn between late 2018 and early 2019, investigation has shown. This amounts to 62 per cent of the...

Chevron, Anadarko Petroleum in $33b Acquisition deal Chevron announced Friday that it will purchase Anadarko Petroleum in a cash-and-stock deal worth $33 billion, in what could launch a wave of consolidation as the big oil companies seek to exploit the growing U.S. shale industry. “This is...