Marginal Oilfields: FG Receives 50% Of Signature Bonuses       The Federal Government said on Tuesday that it had received signature bonuses from 50 per cent of the winners of marginal oilfields following the conclusion of the bid process. The Minister of State for Petroleum Resources, Chief Timipre...

Missing Oil: Shell Remains Mute As Aiteo Alleges Media Attacks Over $2.7bn Case       There are indications that the dispute between Aiteo Group, and Shell Petroleum Development Company, SPDC, has exacerbated as the former, weekend, accused the International Oil Company, IOC, of allegedly planning a media...

Oil and the Nigerian Economy: Can We Learn from Norway?  By Abdulhaleem Ishaq Ringim       Whether or not Nigeria has utilized its oil wealth in a prudent manner is still a topic for national debate. However, considering how dependent the country’s economy has become on oil...

Nigeria’s Revenue Prospects Brighten As Oil Hits $67       The international oil benchmark, Brent crude, rose further on Wednesday to $67 per barrel, compared to Nigeria’s budget benchmark of $40 per barrel. For Nigeria, which relies on crude oil for about 50 per cent of government revenues...

Nigeria, Others Suffered 40% Decline In Oil Investment – Report     Nigeria and other oil-producing countries in sub-Saharan Africa saw a 40 per cent decline in oil and gas investment in 2020 to the lowest level in nearly 20 years, a new report has said. The report...

Oil, Gas To Meet Over 50% Global Needs By 2045 — OPEC       The Secretary General of the Organisation of Petroleum Exporting Countries (OPEC), Dr Mohammad Barkindo, has said the oil and gas sector will still supply over 50 per cent of the global energy needs...