More Than 600 Firms Bid For 57 Marginal Oil Fields – FG   The Department of Petroleum Resources said on Wednesday that over 600 companies had applied to bid for 57 marginal oil fields made available by the Federal Government. The DPR had announced early last month...

Oil Firms’ N4.58trn Loan Repayment Under Threat – Investigation   The coronavirus-induced sharp fall in global oil prices poses a threat to the ability of oil and gas companies in the country to repay a total loan of N4.58tn, investigation has shown. The loans advanced to oil...

Oil Firms May Stake $30bn On Exploration This Year   Globally, about $25 billion to $30 billion will be spent on oil exploration activities although cost efficiency challenges may slip by as much as 15 per cent.The revelation contained in a forecast released yesterday, by a...

Buhari Blames Politicians, Oil Firms For Tax losses Over The Years   President Muhammadu Buhari has blamed politicians and oil companies for conspiring to deny Nigeria commensurate revenue from oil production and sales, particularly taxes over the years. He said this on Monday after signing the amended...

Oil Firms To Adopt Plan Against Spill In Gombe, Bauchi   Following the recent discovery of oil in Bauchi and Gombe states, the National Oil Spill Detection and Response Agency (NOSDRA) has said oil companies must soon adopt oil spill contingency plans and strategies to adequately...

Senate Probes 7 Oil Firms Over Unremitted $21bn     The Senate on Wednesday, mandated three of its committees to investigate seven international oil companies over their alleged refusal to remit about $21 billion to the national treasury. The decision of the upper chamber was sequel to a...