FG, Shell In Talks Over Sale Of Nigerian Oil Assets       The Minister of State for Petroleum Resources, Chief Timipre Sylva, has said the Federal Government is in talks with Shell over the planned sale of the company’s stakes in Nigeria’s onshore oil assets. The Nigerian oil...

DBN Appoints new Executive Director, Non-Executive Director. The Development Bank of Nigeria (DBN), Nigeria’s primary wholesale development finance institution has announced the appointments of Mrs. Ijeoma Ozulumba and Mr. Kyari Abba Kyari as Executive Director and Independent Non-Executive Director respectively on the board of the...

Stock: Investors Gain N60bn As Seplat, 30 Others Rise       Investors in the nation’s stock market gained N60bn on Monday as Seplat Petroleum Development Company Plc and 30 other firms recorded price appreciation. The Nigerian Stock Exchange All-Share Index rose by 0.33 per cent to close at...

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...

Nigeria Loses N1.06trn Oil Revenue Target – NNPC         Nigeria’s N2.6 trillion oil revenue target declined by 40 per cent (N1.06) as a result of twin shocks of COVID-19 and low crude oil price, the Nigeria National Petroleum Corporation (NNPC) has disclosed. The Group Managing Director of...

Seplat Delays LPG, Exploration Projects Till 2020 Seplat Petroleum Development Company Plc said it had deferred three planned exploration/appraisal wells targeting longer-term oil and gas production and the Oben and Sapele Liquefied Petroleum Gas projects to 2020. The company said it had revised its 2019 capital...