Over $30bn Oil Sector Projects Still Awaiting Final Investment Decisions         Nigeria’s oil and gas industry has continued to record heavy drop in investments for many years and in the last five years the sector has suffered more inactivity as over $30 billion projects are still...

Nigeria’s Oil Rig Count Drops By 30% In One Month       Nigeria’s active rig count has dropped significantly by 30 per cent to seven in October 2020 as against 10 recorded in the previous month. The rig count is a reflection of the level of exploration, development,...

Nigeria’s Oil Rig Count Declines By 30%         Nigeria’s active rig count witnessed a downward movement with a 30 percent dip to seven in October, 2020 from 10 recorded in September. The rig count is a reflection of the level of exploration, development, production and general activities...

NNPC Commits to Growing Nation’s Hydrocarbon Reserves to 40 billion barrels The Nigerian National Petroleum Corporation (NNPC) has reiterated its resolve to grow the nation’s hydrocarbon reserves to 40billion barrels through reinvigorated exploratory activities in the inland frontier basins across the country. Group Managing Director of...

Nigeria’s Oil Rigs Decline By 30% As Exploration Drops       The number of active oil rigs in Nigeria declined by 30 per cent in October, with stakeholders lamenting the reduction in exploration activities in the nation’s oil and gas industry. Data obtained by our correspondent from the...

President Muhammadu Buhari has written to the National Assembly to seek for approval to issue an additional $500 million Eurobond to fund capital projects in the 2017 budget. This was revealed during a Senate session yesterday. The latest demand follows the oversubscription of a similar bond...