The International Association of Geophysical Contractors IAGC, is asking for financial relief from regulatory authorities and banking institutions in hydrocarbon prospecting and producing countries in Africa. Such relief is being sought in order to mitigate the negative effects of the global crisis In collaboration with the Johannesburg based African Energy Chamber, the contractors are making…
AIM Listed LEKOIL says it reached an agreement with Optimum Petroleum Development Company, the Operator of the Oil Prospecting Lease (OPL 310), on deferring the final tranche of payment of $7.6Million due on or before 2 May 2020. The companies had earlier jointly decided that final payment of $9.6Million, in aggregate, would be made…
The Chairman of Dangote Group of Companies, Alhaji Aloko Dangote, has move in to rescue Kano State from the ravaging coronavirus pandemic in the State. This rescue mission has lead to the hiring of 54gene Laboratory, one of the private health facility accredited by the Nigerian Centre for Disease Control (NCDC) to conduct 1,000 COVID-19…
There are strong indications that Europeans buyers are dumping Nigeria and some African crude oil and turning to Norway due to proximity. Crude oil from Nigerian and some African Crude oil are getting less attractive to some buyers in Europe. The reason being that these category of buyers seem to prefer producers close to them….
.As part of efforts not to allow the oil a gas industry collapse under the weight of the ravaging coronavirus pandemic, the government has been advised to suspend royalty on new production; relax ring fencing and give tax holiday on new assets. Professor Wumi Iledare, who is the chairman of National Petroleum Research and UCC…
Canadian Overseas Petroleum Limited (‘COPL’), an international oil and gas exploration and development company focused on sub-Sahara Africa, has completed a placing for up to £2,000,000 with Yorkville Advisors Global (‘YA’) and Riverfort Global Opportunities PCC (‘RGO’) at a placing price of 0.07p per share. The Company has also entered into an Equity Sharing Agreement…
The Nigerian LNG Limited has said it is making significant progress in activities that will lead to the formal award of engineering, procurement and construction contracts for its Train 7 project. The NLNG announced in September 2019 that it had issued a Letter of Intent for the EPC contract to SCD JV Consortium, which is…
Houston — Exxon Mobil Corp and Chevron Corp are slamming the brakes on oil output, as the top two U.S. producers plan for combined global shut-ins of 800,000 barrels per day in response to plunging crude prices and fuel demand. Both companies on Friday outlined deep cuts in investments in the Permian shale basin, the top…
*Governor Douye Diri of Bayelsa State, Mr. Chukwuemeka Nwajiobi, Minister of State for Education, Chief Timipreye Sylva, Honourable Minister of State for Petroleum Resources and Mallam Mele Kyari, Group Managing Director, NNPC at the ground breaking ceremony for a permanent Emergency and Infectious Diseases Hospital for the South-South Region in Yenagoa, Bayelsa State. Abuja — The…
Lagos — The Council for Regulation of Freight Forwarders in Nigeria, CRFFN, has waded into the strike being proposed by the various freight forwarding groups, a development that may worsen a near crisis situation at the nation’s ports. In a letter to the various freight forwarding groups, the Registrar of the Council Barrister, Sam Nwakohu…