Ensure Better Welfare For Host Communities, Ex Bayelsa Commissioner Urge IOCs   A former Commissioner for finance in Bayelsa State, Dr. Silva Opuala-Charles, has urged International oil companies in the Niger Delta region to ensure better welfare for their host communities. Opuala-Charles, an Economist and President of...

Fed Govt Owes Five IOCs $1.15bn Cash Call Arrears, Clears $3.53bn Debt   A total of $3.53bn has been paid by the Federal Government to five international oil companies as cash call arrears repayment to the IOCs, leaving an outstanding balance of $1.15bn. Latest status report on...

FG Urges IOCs To Embark On New Oil Projects       International Oil Companies operating in the country have been urged to embark on new projects despite the delay in the passage of the Petroleum Industry Bill. The Nigerian Content Development and Monitoring Board, an agency in the...

Scarcity Disrupts Banks, IOCs, Telcos’ Forex Payments     There are indications that the lingering foreign exchange scarcity in the country is slowing down banks’ ability to meet their payment obligations that are denominated in dollar. Sources said that banks have been having long waits to access dollars...

Nigeria’s Oil Projects Threatened As IOCs Suffer $27.8bn Loss   Several major oil and gas projects in Nigeria may suffer further delays as international oil companies operating in the country saw their financials take a dive in the second quarter of this year. The slump in oil...

Recovery of $55bn from IOC: We Only Demanded 5% Payment for Consultancy-Trobell Nigeria   Trobell International Nigeria Limited (Trobell) said it only demanded payment from Federal Government of the agreed remuneration of 5% for additional revenue of $55,871,219,798.00 (less 50% rebate) recovered from contracting oil companies...