FG To Cut Stakes In JV With Shell, Others   The Federal Government plans to cut its stakes in joint oil ventures with international oil companies to 40 per cent this year, the Minister of Budget and National Planning, Senator Udo Udoma, has said. The government is...

NNPC To Intervene In Chevron, Oil Workers Dispute The Group Managing Director, Nigerian National Petroleum Corporation, Dr Maikanti Baru, has directed the management of the organisation to work with the Nigeria Union of Petroleum and Natural Gas Workers and the Petroleum and Natural Gas Senior...

FG Receives N817bn From Total, Chevron, CNOOC In One Year THE Federal Government received $2.68 billion, about N817.4 billion, from Total, Chevron and China National Offshore Oil Company, CNOOC, in 2017, according to documents obtained from the Canadian government. The companies presented the information under...

No Interest in OML 11- Kachikwu Minister of State, Petroleum Resources, Dr Ibe Kachikwu has denied allegations that he has interest in OML 11. In a statement signed by the Director of Press and Public Relations in the Ministry of Petroleum Resources, Mr. Idang Alibi, and...

Nigerian National Petroleum Corporation (NNPC) and Chevron Nigeria Limited (CNL) have executed the second and final phase of an Alternative Financing Agreement that would increase crude oil production in the country by about 39,000 barrels per day. The agreement, which was signed in London, is...

The plummeting prices of crude oil in the international market have impacted negatively on the earnings of ExxonMobil Corporation and Chevron Corporation, according to their third quarter 2016 results. Chevron’s average sales price per barrel of crude oil and natural gas liquids was $37 in...