IOCs to Invest $20bn in Petroleum Sector – Lokpobiri The Minister of State for Petroleum Resources (Oil), Heineken Lokpobiri, on Monday, announced that about $16.6bn investments had been committed to Nigeria’s oil and gas sector in the past one year. He spoke in Abuja while providing...

Minister Discloses Plan to Improve Country’s Gas Sector as Debt Hits $1.3bn The Federal Government is now implementing measures to significantly reduce the cost of Liquefied Petroleum Gas, popularly called cooking gas, the Minister of State for Petroleum Resources (Gas), Ekperikpe Ekpo, announced on Tuesday. Ekpo...

IOCs, Indigenous Oil Firms To Develop $50bn Projects In Five Years – NCDMB   The Nigerian Content Development and Monitoring Board (NCDMB) has said that oil and gas investment opportunities valued at over $50 billion and projected to be developed within five years were last week...

More IOCs To Divest, Job Losses Loom – Fed Govt   More international oil companies operating in Nigeria are going to divest from onshore oil and gas assets due to poor earnings caused by the massive crude oil theft across the country, the Federal Government stated...

IOCs To Remit N400bn Oil Debt For July – NNPC   Five international oil companies operating in Nigeria’s oil and gas sector are to remit an outstanding balance of about N400bn to the Federation Government through the Nigerian National Petroleum Company Limited this July. Figures on April...

IOCs Divestments, Threat To Nigeria’s Oil Sector – FG   The Federal Government on Sunday night described the divestments by international oil companies from the Nigerian oil and gas sector as a threat to the industry. It, however, challenged indigenous oil producers to see the IOCs’ divestments...