Barely a week after it sold its downstream subsidiary in Nigeria, United States’ oil giant, ExxonMobil Corporation, has announced the discovery of up to one billion barrels of oil reserves in the Owowo field, offshore Nigeria. The development is a boost to Nigeria’s efforts to...

The workforce in Nigeria’s oil industry has been depleted by 3,000 employees following the sack of personnel by firms in the industry, two oil unions have said. The mass sacks, it was gathered, resulted from the economic recession in the country. Some of the companies that...

In a deal certain to boost confidence in the downstream segment of Nigeria’s oil and gas industry, indigenous downstream company, NIPCO Plc, announced yesterday that it has acquired a 60 per cent stake in Mobil Oil Nigeria (MON) Plc from United States oil giant,...

EXXONMOBIL the operators of Qua Iboe terminal, which is expected to remain shut in for another month, will see Nigeria losing more than N131.13 billion. The projections for the Qua Iboe, is pegged at N2.79 billion daily, with a stable crude oil stream and exports...

...As MEND gives conditions for dialogue The Niger Delta Avengers (NDA) has warned the management of the international oil company, ExxonMobil, against repairing the Que Iboe 48-inch pipeline it blew recently, threatening to attack personnel of the company if the warning is not heeded. In a...