Oil Exploration Activities Decline, Threaten 40bn Reserves Target           Nigeria has recorded a significant 19.3 per cent decline in the level of oil exploration in the first 10 months of this year, a development which may be threatening the Federal Government’s plan to restore growth in...

Nigeria Could Face $20bn Loss In Export Revenue - Report         Nigeria and four other oil producers on the continent could each be facing $20billion or more in lost export revenue this year as global oil demand is estimated never to exceed 2019 levels, with energy...

Nigeria’s Fragile Fiscal Regime May Stall $24bn Oil, Gas Projects         With the continued delay in the passage of the Petroleum Industry Bill (PIB) leading to a frigile fiscal regime mired by uncertainty, the African Energy Chamber (AEC), has said Nigeria and other African countries should...

COVID-19 Threatens African Countries’ IGR, Others       The coronavirus (COVID-19) pandemic; has threatened African countries’ internally-generated revenues (IGR) thereby impeding their ability to fund essential services in education, health and infrastructure sectors of the economy. According to the 2019 Human Development Report, Africa will not be unable...

Nigeria, OPEC Peers To Lose $272bn Oil Revenue         Nigeria and other members of the Organisation of the Petroleum Exporting Countries will see their combined net oil export revenue fall this year to its lowest level since 2002, according to the United States Energy Information Administration. The...

Nigeria’s Oil Rig Count Rises By 2 As OPEC’s Decreases By 14         Nigeria has for two months now continued to experience rise in oil production as its rig count moved up by two, having recorded 10 in September, as against eight recorded in August. Earlier in...