COVID-19: Oil Majors Slash 2020 Spending By 18%   The world’s biggest oil and gas companies are slashing capital spending this year following a collapse in oil prices driven by a slump in demand because of coronavirus and a price war between the Saudi Arabia and...

Energy Experts Fault FG’s $62bn Claim Against Oil Majors   Energy experts have raised concerns over the push by the Federal Government to recover $62bn from International Oil Companies operating in the country, following the amendment of Deep Offshore (and Inland Basin Production Sharing Contract) Act. Last...

Oil Majors Advice FG Against Discouraging Deepwater Project International oil companies have warned that an unfavourable fiscal regime will discourage deepwater projects in the country amid expectations of a new Production Sharing Contracts with the Federal Government this year. The Federal Government, in its 2019 approved...

Oil Majors Delay Investment On $23.5b Offshore Projects   International Oil Companies (IOCs) operating in Nigeria may have devised means to compel the Federal Government into changing its fiscal policy on the Petroleum Industry Governance Bill (PIGB). The Guardian learnt the IOCs have deliberately put on hold...